Overview: This page contains the latest international trade data for Libya, including service trade data. 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, and the number 113 most complex economy according to the Economic Complexity Index (ECI). In 2018, Libya exported $27.9B and imported $12.8B, resulting in a positive trade balance of $15B. In 2018, Libya's exports per capita were $4.17k and its imports per capita were $1.92k.
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.
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.
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).
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.
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.
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.
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.
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.
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.
Libya
