The economy of Libya depends primarily on revenues from the petroleum sector, which represents over 95% of export earnings and 60% of GDP. These oil revenues and a small population have given Libya one of the highest nominal per capita GDP in Africa. $45.75 billion (nominal, 2023 est.)
People also ask
How is Libya's economy today?
Is Libya a rich or poor country?
How is Libya doing financially?
What is the economy of Libya based on?
Libya
Country in North Africa
>
Libya, officially the State of Libya, is a country in the Maghreb region of North Africa. Libya borders the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad to the south, ... Wikipedia
GDP growth rate: -1.2% annual change (2022)
Gross domestic product: 45.75 billion USD (2022)
GDP per capita: 6,716.10 USD (2022)
Gross national income: 160.8 billion PPP dollars (2022)
GNI per capita: 23,600 PPP dollars (2022)
Internet users: 17.8% of the population (2014)
Currency: Libyan Dinar
Source: World Bank
Libya - Oil, Agriculture, Trade: Libya's per capita income is among the highest in Africa. Oil revenues remain Libya's main source of income.
On Sunday, September 10, 2023, a devastating natural disaster unfolded in eastern Libya when Storm Daniel wreaked havoc with heavy rains and fierce winds. The ...
Youth unemployment was among the main grievances that led to the Libyan uprising of 2011. The interim government inherits a labour environment of private ...
Recent macroeconomic and financial developments In 2022, real GDP contracted sharply, by 12.1%, after growing 28.3% in 2021. The recession was driven by ...
Access the latest politics analysis and economic growth summary through 2011 for Libya from The Economist Intelligence Unit.
Libya joined OPEC in 1962 and, apart from petroleum, Libya's other natural resources are natural gas and gypsum. The sale of crude oil has given Libya one ...
Jun 12, 2023 · However, the country has made significant efforts to move forward and overcome the economic challenges brought by political conflict. As Libya ...
As the war raged, virtually all economic activity, especially oil production (the mainstay of the Libyan economy) witnessed a dramatic decline. While there was ...
Business environment analysis and country risk assessment for Libya. Strengths, Weaknesses, Economic indicators, GDP growth, Inflation, Public debt.