Observatory of Economic Complexity

Flag Libya

Econ Complexity (2018): -0.99, Rank 113 of 137

Product Exports (2018): $27.9B, Rank 68 of 222

Exports Per Capita (2018): $4.17k, Rank 4 of 219

Product Imports (2018): $12.8B, Rank 90 of 221

Imports Per Capita (2018): $1.92k, Rank 5 of 219

Service Exports (2018): $134M, Rank 81 of 88

Service Imports (2018): $5.06B, Rank 40 of 88

GDP (2018): $48.4B, CURRENT US$
Rank 87 of 196

GDP growth (2008 - 2018): -44.5%, CURRENT US$
Rank 196 of 196

GDP PC (2018): $7,242, CURRENT US$
Rank 93 of 196

GDP PC GROWTH (2008 - 2018): -49.6%, CURRENT US$
Rank 194 of 196

About

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Overview: In 2018 Libya was the number 87 economy in the world in terms of GDP (current US$), the number 68 in total exports, the number 90 in total imports, the number 93 economy in terms of GDP per capita (current US$) and the number 113 most complex economy according to the Economic Complexity Index (ECI)

Exports: The top exports of Libya are Crude Petroleum ($24.2B), Petroleum Gas ($1.38B), Refined Petroleum ($1.01B), Gold ($805M), and Scrap Copper ($95.9M), exporting mostly to Italy ($4.57B), China ($4.17B), Germany ($3.71B), Spain ($3.65B), and France ($2.48B).

Imports: The top imports of Libya are Refined Petroleum ($2.18B), Broadcasting Equipment ($837M), Cars ($533M), Rolled Tobacco ($343M), and Packaged Medicaments ($326M), importing mostly from Turkey ($1.5B), United Arab Emirates ($1.44B), China ($1.43B), Italy ($1.42B), and Spain ($712M).

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

Product Trade

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Yearly Exports

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Value
Depth

Top Export (2018): Crude Petroleum, $24.2B

Top Destination (2018): Italy, $4.57B

In 2018, Libya exported a total of $27.9B, making it the number 68 exporter in the world. During the last five reported years the exports of Libya have changed by -$10.8B from $38.6B in 2013 to $27.9B in 2018.

The most recent exports are led by Crude Petroleum ($24.2B), Petroleum Gas ($1.38B), Refined Petroleum ($1.01B), Gold ($805M), and Scrap Copper ($95.9M). The most common destination for the exports of Libya are Italy ($4.57B), China ($4.17B), Germany ($3.71B), Spain ($3.65B), and France ($2.48B).

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Yearly Imports

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Value
Depth

Top Import (2018): Refined Petroleum, $2.18B

Top Origin (2018): Turkey, $1.5B

In 2018 Libya imported $12.8B, making it the number 90 trade destination in the world. During the last five reported years the imports of Libya changed by -$11B from $23.8B in 2013 to $12.8B in 2018.

The most recent imports of Libya are led by Refined Petroleum ($2.18B), Broadcasting Equipment ($837M), Cars ($533M), Rolled Tobacco ($343M), and Packaged Medicaments ($326M). The most common import partners for Libya are Turkey ($1.5B), United Arab Emirates ($1.44B), China ($1.43B), Italy ($1.42B), and Spain ($712M).

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Market Growth

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

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Service Trade

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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).

Forecasts

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Trade Forecasts

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This section shows forecasts for total product exports and imports for Libya. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Libya's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨77th to the 113th⁩ 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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Most Specialized Products by RCA Index

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Libya has a high level of specialization in Crude Petroleum (14.8), Iron Reductions (8.97), Scrap Lead (4.97), Live Fish (4.88), and Petroleum Gas (3.05). 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 Aluminium waste or scrap (-0.97), Live fish (-1.12), Copper, copper alloy, waste or scrap (-1.14), Ferrous products from reduction of iron ore, pure iron (-1.25), and Ammonia, anhydrous or in aqueous solution (-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 Iron Ore (0.023), Raw Aluminium (0.023), Acyclic Alcohols (0.021), Crustaceans (0.02), and Refined Petroleum (0.02). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Libya is not specialized in.

Product Space

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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.

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.

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