Overview: In 2019 Libya was the number 85 economy in the world in terms of GDP (current US$), the number 68 in total exports, the number 86 in total imports, the number 86 economy in terms of GDP per capita (current US$) and the number 135 most complex economy according to the Economic Complexity Index (ECI).

Exports: The top exports of Libya are Crude Petroleum ($22.5B), Petroleum Gas ($1.31B), Gold ($1.19B), Refined Petroleum ($854M), and Scrap Iron ($88.9M), exporting mostly to Italy ($4.77B), China ($4.21B), Germany ($3.95B), Spain ($3.85B), and United Arab Emirates ($1.51B).

Imports: The top imports of Libya are Refined Petroleum ($2B), Cars ($959M), Broadcasting Equipment ($614M), Rolled Tobacco ($440M), and Jewellery ($293M), importing mostly from China ($2.45B), Turkey ($2.07B), Italy ($1.39B), United Arab Emirates ($1.35B), and Egypt ($828M).

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

Historical Data

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Yearly Exports

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Value
Depth

Top Export (2019): Crude Petroleum, $22.5B

Top Destination (2019): Italy, $4.77B

In 2019, Libya exported a total of $26.3B, making it the number 68 exporter in the world. During the last five reported years the exports of Libya have changed by $7.16B from $19.1B in 2014 to $26.3B in 2019.

The most recent exports are led by Crude Petroleum ($22.5B), Petroleum Gas ($1.31B), Gold ($1.19B), Refined Petroleum ($854M), and Scrap Iron ($88.9M). The most common destination for the exports of Libya are Italy ($4.77B), China ($4.21B), Germany ($3.95B), Spain ($3.85B), and United Arab Emirates ($1.51B).

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Yearly Imports

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Value
Depth

Top Import (2019): Refined Petroleum, $2B

Top Origin (2019): China, $2.45B

In 2019 Libya imported $15.1B, making it the number 86 trade destination in the world. During the last five reported years the imports of Libya changed by -$2.91B from $18B in 2014 to $15.1B in 2019.

The most recent imports of Libya are led by Refined Petroleum ($2B), Cars ($959M), Broadcasting Equipment ($614M), Rolled Tobacco ($440M), and Jewellery ($293M). The most common import partners for Libya are China ($2.45B), Turkey ($2.07B), Italy ($1.39B), United Arab Emirates ($1.35B), and Egypt ($828M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

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 Crude Petroleum (15.7), Iron Reductions (10.7), Live Fish (4.51), Petroleum Gas (3.01), and Sulphur (2.65). Specialization is measured using RCA, an index that takes the ratio between Libya observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Libya according to the product complexity index (PCI) are Ferrous products from reduction of iron ore, pure iron (-0.71), Ferrous waste or scrap, ingots or iron or steel (-0.8), Aluminium waste or scrap (-0.95), Copper, copper alloy, waste or scrap (-1.13), and Live fish (-1.28). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Libya according to the relatedness index, are Other Oily Seeds (0.02), Non-fillet Fresh Fish (0.019), Perfume Plants (0.019), Tropical Fruits (0.018), and Non-fillet Frozen Fish (0.018). 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 it is currently specialized 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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Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a 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 emissions.

Economic Complexity Ranking

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Scale

During the last 20 years Libya's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨84th to the 135th⁩ 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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