Ivan Kushnir

Economy of Libya - Economy in Countries Ivan Kushnir

This book about the economy of Libya from the 1970s to the 2010s. Source data from UN Data.

Size. In the 2010s, the GDP of Libya was equal to $44.7 billion per year; the value of manufacturing was $1.7 billion. Since the share in the world is between .01% and .1%, the country is classified as a small economy.

Productivity. In the 2010s, the gross domestic product per capita was $6 952.3, the value of manufacturing per capita was $261.1. Since the productivity is between the average of below average and the average, the economy is classified as developing.

Growth. In the 2010s, the growth of GDP was -14.4%; the growth of manufacturing was -18.3%.

Structure. In the 2010s, the economy of Libya included: industry (64.0%), services (23.3%), trade (4.7%), transportation (3.9%), construction (2.8%), and agriculture (1.3%).

Export and import. In the 2010s, the export was 9.7% higher than the import, the net export was equal to 6.0% of the GDP. The technological structure of export is not better than the structure of import.

Consumption and reproduction. The attitude of reproduction to the consumption is not better than the global average, so the share of GDP in the world will not increase.