machinery, transport equipment, semi-finished goods, food, consumer products
Main import partners
Turkey 15.1%
Greece 13%
China 11.6%
United Arab Emirates 9.33%
Italy 7.83%
Egypt 4.19%
Germany 3.73%
Tunisia 3.53%
Netherlands 2.92%
South Korea 2.34% (2021)[11]
FDI stock
$20.21 billion (31 December 2017 est.)[7]
Abroad: $20.97 billion (31 December 2017 est.)[7]
Current account
$2.574 billion (2017 est.)[7]
Gross external debt
$3.02 billion (31 December 2017 est.)[7]
Public finances
Government debt
4.7% of GDP (2017 est.)[7]
Budget balance
−25.1% (of GDP) (2017 est.)[7]
Revenues
13.47 billion (2022 est.)
Expenses
30.61 billion (2022 est.)
Economic aid
recipient ODA $9 million (2010), $642 million (2011), $87 million (2012)[12]
Foreign reserves
$74.71 billion (31 December 2017 est.)[7]
Main data source:CIA World Fact Book All values, unless otherwise stated, are in US dollars.
The economy of Libya depends primarily on revenues from the petroleum sector, which represents over 95% of export earnings and 60% of GDP.[13] These oil revenues and a small population have given Libya one of the highest nominal per capita GDP in Africa.[14][13]
After 2000, Libya recorded favorable growth rates with an estimated 10.6% growth of GDP in 2010. This development was interrupted by the Libyan Civil War, which resulted in contraction of the economy by 62.1% in 2011. After the war, the economy rebounded by 104.5% in 2012. It crashed again following the Second Libyan Civil War.[15] As of 2017, Libya's per capita PPP GDP stands at 60% of its pre-war level.[15]
^"World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
^"World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
^"Population, total - Libya". worldometers.info. WorldoMeters. Retrieved 15 November 2023.
^"Economy in Libya compared to the EU". Worlddata.info. Retrieved 5 March 2024.
^ abcdhttps://en.wikipedia.org/w/index.php?title=Economy_of_Libya&action=edit "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 15 November 2019. {{cite web}}: Check |url= value (help)
^"The World Factbook- Libya". Central Intelligence Agency. Retrieved 5 May 2018.
^ abcdefghijkl"The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 10 February 2019.
^"Human Development Report 2021/2022" (PDF). United Nations Development Programme. 8 September 2022. Retrieved 8 September 2022.
^"Labor force, total - Libya". data.worldbank.org. World Bank. Retrieved 27 November 2019.
^"Employment to population ratio, 15+, total (%) (national estimate) - Libya". data.worldbank.org. World Bank. Retrieved 27 November 2019.
^ ab"Foreign trade partners of Libya". The Observatory of Economic Complexity. Retrieved 18 June 2021.
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