Libya

Libya Economic Outlook

Key macroeconomic indicators remain volatile. They are determined by oil production, which is lackluster and uneven due to insecurity, unstable politics, poor infrastructure, and constrained government fiscal spending. In June 2018, following an attack on oil fields and the main terminals, production plummeted from almost 1 million barrels a day to 400,000. In October and November, as turmoil receded, oil production increased to around 900,000 barrels a day, but renewed tension in December further disturbed it, and some damaged infrastructure has not been fully rebuilt. Consequently, real GDP growth in 2018 did not repeat 2017’s, though it remained considerable at an estimated 10.9%.

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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

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Activity





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

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