- Thanks to a rapid resumption of hydrocarbon production and exports, Libya’s economy recovered in 2012 from a severe contraction experienced in 2011, with real GDP growth 95.5% in 2012 against a contraction of 59.7% in 2011; inflation decelerated to 6.9% in 2012 from 15.9% 2011, and GDP growth is projected to normalise to 15% and 8.1% by 2013 and 2014, respectively, while inflation is expected to decline further to 4.7% in 2013 and 3.4% in 2014.
- The peaceful conduct of elections in July 2012 was a promising indication of Libya’s successful political transition, but the subsequent difficulties in forming a new government have highlighted the challenges of achieving stability.
- Libya’s successful transition and sustainable development hinges on the evolving security situation, the new government’s economic strategy, the resolution of regional tensions over hydrocarbon resources, and the international price of oil.
Technical Assistance for Small & medium Enterprises Development
Capacity Building Support for Export
Department North Africa Region
Director North Africa Region, Mr. Jacob Kolster
Temporary Relocation Agency (TRA)
15 Avenue du Ghana
P.O.Box 323-1002, Tunis-Belvédère, Tunisia
Phone: (+216) 71102065
Fax: (+216) 71330087
|Area:||1,760,000 sq km|
|Total Population 2012:||6.5 Million|
|Urban Population 2012:||78.30%|
|Female Population 2012:||50.09%|
|GDP:||US$ 75.0 Billion|
|GNI Per Capita 2012:||US$ 9,977|
|Crude Birth Rate (per 1000):||22.03%|
|Human Development Index (rank / 187):||64|
|Human Development Index (scale 0 to 1):||0.769|
|Cumulative Approvals (1967-2012):||UA 0.6 Million|