You are here

Libya

Libya Economic Outlook

Real GDP growth slowed to an estimated 4% in 2019, due to lower oil prices. Inflation, after declining in 2018 and the first quarter of 2019, rebounded to an average above 10% in 2019 because of the intensified conflict in Tripoli. The fiscal deficit worsened to 10.9% of GDP in 2019 from 7.4% in 2018 (but still much improved from 43% in 2017). The fiscal stance was slightly worse in 2019 due to lower oil prices despite higher oil production, at 1.15 million barrels a day in the second quarter of 2019, up from 0.97 million in 2018.

Read more


Key Facts

Flag:
Capital: Tripoli
Area: 1,760,000 sq km
Total Population 2017: 6.4 Million ...
Urban Population 2017: 73.50%
Female Population 2017: 49.70%
GDP: US$ 47.8 Billion
GNI Per Capita 2015: US$ 6,030
Inflation Rate: 13.00%
Crude Birth Rate (per 1000): 19.10%
Human Development Index (rank / 188): 102
Human Development Index (scale 0 to 1): 0.716
Membership Date: 21/07/1972
Cumulative Approvals (1967-2016): UA 0.6 Million

Libya
View detailed map

Activity

Latest Videos


Resources

Knowledge Products



Contacts

Regional Development, Integration and Business Delivery Office (RDIB)

Director General, Mr. Mohamed El Azizi

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

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