Libya Economic Outlook

  • Oil production fell during the first half of 2014 and GDP declined by 19.8%, but production levels began to recover during the third quarter of 2014, so GDP is expected to rebound by 14.5% in 2015, if agreement is achieved to open some of the major oil terminals.
  • Political and economic governance have collapsed, with the presence of two rival parliaments and continued control of oil resources by warring militias.
  • Spatial disparities were at the heart of the instabilities that have surfaced since 2011 and an inclusive spatial strategy will be an important determinant of any democratic transition.


Department North Africa Region

Director North Africa Region, Mr. Jacob Kolster

African Development Bank Group
Immeuble Zahrabed
Avenue du Dollar, Les Berges Du Lac II, Tunis 1053, Tunisia

Tel: (+216) 71102953
Fax: (+216) 71194523


Key Facts

Capital: Tripoli
Area: 1,760,000 sq km
Total Population 2013: 6.2 Million
Urban Population 2013: 78.06%
Female Population 2013: 49.99%
GDP: US$ 82.3 Billion
GNI Per Capita 2013: -
Inflation Rate: 4.00%
Crude Birth Rate (per 1000): 20.69%
Human Development Index (rank / 187): 64
Human Development Index (scale 0 to 1): 0.769
Membership Date: 21/07/1972
Cumulative Approvals (1967-2013): UA 0.6 Million

Show more facts

Explore what we do

Select a country

Explore our activities