Overview In 2020 Libya was the number 102 economy in the world in terms of GDP (current US$), the number 93 in total exports, the number 90 in total imports, the number 124 economy in terms of GDP per capita (current US$) and the number 118 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Libya are Crude Petroleum ($5.46B), Gold ($1.65B), Petroleum Gas ($717M), Scrap Iron ($104M), and Refined Petroleum ($98.1M), exporting mostly to Italy ($1.77B), Turkey ($1.65B), United Arab Emirates ($887M), Germany ($768M), and China ($712M).

Imports The top imports of Libya are Refined Petroleum ($1.69B), Rolled Tobacco ($516M), Cars ($405M), Broadcasting Equipment ($262M), and Wheat ($246M), importing mostly from China ($1.88B), Turkey ($1.65B), Italy ($1B), United Arab Emirates ($1B), and Greece ($719M).

Location Libya borders Algeria, Chad, Egypt, Niger, Sudan, and Tunisia by land and Greece, Italy, and Malta by sea.

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The following section uses the most recent trade data from partners of Libya.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

Historical Data

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Top Export (2020): Crude Petroleum, $5.46B

Top Destination (2020): Italy, $1.88B

In 2020, Libya exported a total of $8.4B, making it the number 93 exporter in the world. During the last five reported years the exports of Libya have changed by -$1.89B from $10.3B in 2015 to $8.4B in 2020.

The most recent exports are led by Crude Petroleum ($5.46B), Gold ($1.65B), Petroleum Gas ($717M), Scrap Iron ($104M), and Refined Petroleum ($98.1M). The most common destination for the exports of Libya are Italy ($1.77B), Turkey ($1.65B), United Arab Emirates ($887M), Germany ($768M), and China ($712M).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

Libya Exports Services (2018): $134M

Libya Imports Services (2018): $5.06B

In 2018, Libya exported $134M worth of services. The top services exported by Libya in 2018 were Insurance services ($55.5M), Transportation ($51.6M), and Computer and information services ($26.6M).

The top services imported by Libya in 2018 were Personal travel ($2.04B), Transportation ($1.3B), Insurance services ($1.16B), Government services, n.i.e. ($535M), and Computer and information services ($31.4M).

Economic Complexity

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Most Specialized Products by RCA Index

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Libya has a high level of specialization in Iron Reductions (39.8), Crude Petroleum (17), Live Fish (10.3), Scrap Copper (10.2), and Gold (7.8). Specialization is measured using RCA, an index that takes the ratio between Libya observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Libya according to the relatedness index, are Ammonia (0.026), Non-fillet Frozen Fish (0.023), Raw Aluminium (0.023), Refined Petroleum (0.022), and Cocoa Beans (0.022). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Libya is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Libya. These are products that tend to be co-exported with the products that Libya exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Libya's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨76th to the 118th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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