Libya GDP

Libya country overview

Before we start to discuss Libya GDP first we discuss Libya’s country overview, so Libya is officially called the State of Libya. Libya is located in North Africa. Libya shares its border with Sudan, Chad, Niger, and Algeria.

Tripoli is the capital land largest city of Libya. Libya’s official language is Arabic. When we talk about its ethnic groups, Arabs 97% and 3% of other ethnic-related peoples live in Libya.

In the religious divide, 97% Muslims and 3% non-Muslims living in Libya. Libya’s government system is a unitary provisional government.

Its prime minister’s name is Abdul Hamid Dbeibeh. Libya’s total land area is 1,759,540 km2. Its land area rank is 16th in the world. Its total population is 6,992,700 in the year 2021.

Its population rank is 104th in the world countries. Its population density is 3.5/km2. Its population density rank is 218th in the world countries.

Libya Economy

Its currency is called the Libyan dinar. Libya’s economy is formally called the developing and emerging economy and also an upper-middle-income economy country.

The inflation rate in Libya is 9% in the year 2019. Its HDI rate is 0.708 in the year 2019. Its HDI rank is 108th in the world countries.

When we talk about is Labour force by occupation, agriculture 17%, industry 23%, and services are 58% in the year 2017.

The unemployment rate in Libya is 25% in the year 2017. Its gross external debt is $3 billion in the year 2017. Libya’s total foreign reserves are $75 billion in the year 2017.

Libya GDP

Libya’s total GDP is $41 billion (nominal) and $75 billion (PPP) in the year 2019. Its GDP rank is 90th (nominal) and 94th (PPP) in the year 2019.

Its GDP growth rate is 5.4% in the year 2019. Libya’s GDP per capita is $6,280 (nominal) and $11,470 (PPP) in the year 2019.

Its GDP per capita rank is 84th (nominal) and 102nd (PPP) in the year 2019. When we talk about its GDP by sector, agriculture by 1.4%, industry by 63%, and services are 35% in the year 2018.

Libya Exports

Its total exports are $18 billion in the year 2018. Its main export goods are oil, gas, chemical, food products, and others. Its main export partners are China, Italy, Spain, the USA, Turkey, and others.

Libya Imports

Libya’s total imports are $11 billion in the year 2018. Its main import goods are machinery, food products, and others. Its main import partners are China, Turkey, South Korea, Germany, and others.

References: Worldbank, IMF, Wikipedia

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