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2023
Economic Complexity
Trade -0.84Rank 102 of 132
2021
Economic Complexity
Technology -1.07Rank 77 of 96
2022
Economic Complexity
Research -1.37Rank 135 of 140
2023
Product
Exports | Imports $35.4B | $22.4B67 of 226 |  80 of 226
2023
Per Capita Product
Exports | Imports $4.84k | $3.07k65 of 220 |  112 of 220

About

Overview In 2023, Libya was the number 97 economy in the world in terms of GDP (current US$), the number 67 in total exports, the number 80 in total imports, the number 112 economy in terms of GDP per capita (current US$) and the number 102 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Libya are Crude Petroleum ($31.3B), Petroleum Gas ($1.31B), Refined Petroleum ($879M), Gold ($798M), and Scrap Iron ($235M), exporting mostly to Italy ($7.96B), Germany ($5.16B), Spain ($3.08B), France ($2.64B), and China ($2.2B).

Imports The top imports of Libya are Refined Petroleum ($4.57B), Broadcasting Equipment ($911M), Rolled Tobacco ($633M), Cars ($573M), and Jewellery ($417M), importing mostly from China ($3.9B), Turkey ($3.26B), Italy ($1.84B), United Arab Emirates ($1.83B), and Egypt ($1.79B).

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

Latest Trends

Latest Trade

Flow
View
Y-AXIS SCALE

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.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

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

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Crude Petroleum$31.3B
Top Destination (2023)Italy$7.96B

In 2023, Libya exported a total of $35.4B, making it the number 67 exporter in the world. During the last five reported years the exports of Libya have changed by $3.85B from $31.5B in 2018 to $35.4B in 2023.

The most recent exports are led by Crude Petroleum ($31.3B), Petroleum Gas ($1.31B), Refined Petroleum ($879M), Gold ($798M), and Scrap Iron ($235M). The most common destination for the exports of Libya are Italy ($7.96B), Germany ($5.16B), Spain ($3.08B), France ($2.64B), and China ($2.2B).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
Germany$1.38B (+ 36.3%)
Romania$657M (+ 155k%)
Austria$390M (+ 50.7%)
Fastest Growing Import Markets (2022 - 2023)
China$1.53B (+ 64.4%)
Cyprus$642M (+ 483%)
Egypt$584M (+ 48.6%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

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).

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)-0.84Rank 102 of 132
Economic Complexity (Technology)-1.07Rank 77 of 96
Economic Complexity (Research)-1.37Rank 135 of 140

Most Specialized Products by RCA Index

Libya has a high level of specialization in Iron Reductions (27.6), Crude Petroleum (15.6), Ammonia (11.2), Live Fish (7.86), and Scrap Lead (5.09). 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

The highest complexity exports of Libya according to the product complexity index (PCI) are Fish; live (-0.44), Ferrous waste and scrap; remelting scrap ingots of iron or steel (-0.57), Aluminium; waste and scrap (-0.67), Slag, dross; (other than granulated slag), scalings and other waste from the... (-0.7), and Copper; waste and scrap (-0.87). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Libya according to the relatedness index, were Refined Petroleum (0.029), Gold (0.026), Nitrogenous Fertilizers (0.026), Raw Aluminium (0.026), and Sulfur (0.025). 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

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

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.

Relatedness Space (2023)

Diversification Frontier

Filter
Depth

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.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Libya's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨82nd to the 102nd⁩ 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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ECI (Trade) Ranking by Country

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