Gross domestic product (GDP)

Libya’s GDP in 2010 was LYD 49.58 billion, growing by 10.64% over the previous year.

(Source: IMF)

The GDP growth rate in 2010 was 10.64% compared to -2.31% in 2009.

GDP per capita

The GDP per capita in 2010 was LYD 7,676.32 compared to LYB 7,076.12 in 2009.

(Source: IMF)

Gross national income (GNI)

Libya’s GNI was USD 77,185.24 million in 2009, which declined by 0.91% over the previous year.

(Source: World Bank)

GNI per Capita, PPP

Total GNI per capita at PPP was USD 17,067.6 in 2010 compared to USD 16,429.9 in 2009.

(Source: UNDP)

Income tax rate

The tax rate levied on individual income in Libya is 15%. If individual income exceeds LYD 200,000, the tax rate can become as high as 90%.

(Source: heritage.org)

Corporate tax

The effective corporate tax levied in Libya is 41.6%.

(Source: heritage.org)

Inflation rate

The inflation rate in 2010 was 4.5% compared to 2.83% in 2009.

 

(Source: IMF)

FDI Inflow

The net FDI inflows to Libya was USD 1,711 million in 2009, which declined by 58.37% over the previous year.

 

(Source: World Bank)

Banking sector assets

Total banking sector assets in Libya were LYD 60,052 million in 2008, which grew by 1.2% over the previous year.

 

Total Banking Sector Assets of Libya (LYD million)
	March 2008	2007
Total Assets	60,052	59,340
Net foreign assets	105,972	100,516
Central bank	103,404	98,309
Deposit money bank	2,568	2,206
Net domestic assets	-75,946	-70,835
Domestic credit	-60,670	-54,927
Other items	-15,276	-15,908

(Source: fic.wharton.upenn.edu)

Consumer price index

The CPI in Libya in 2010 was 118.99.

(Source: IMF)

Interest rates on deposits

Interest offered on deposits in Libya was 2.5% in 2010 which remained unchanged from the previous year.

(Source: IMF)

Money supply (Currency in Circulation)

 

(Source: AFDB page no - 248)

Government expenditure

Total government expenditure and net lending in Libya was LYD 43,678 million in 2009, which declined by 2.58% over the previous year.

Total expenditure of government of Libya (LYD million)
	2009	2008
Total Expenditures and Net Lending	43,678	44,836
Current expenditure	22,039	17,579
Wages and Salaries	8,874	7,764
Capital expenditure	24,839	25,907
Net Lending	- 3,200	1,350

(Source: AFDB page no - 248)

 

Official exchange rate

(Source: AFDB page no - 248)

Government finances

Fiscal balance

Libya registered a fiscal surplus of LYD 8,306 million in 2009 compared to LYD 28,061 million in 2008.

 

(Source: AFDB page no - 248)

Total revenue

Libya's total revenue was LYD 51,984 million in 2009, which declined by 28.69% over the previous year.

Total Revenue of government of Libya (LYD million)
	2009	2008
Total Revenues and Grants	51,984	51,984
Tax Revenue	45,982	68,895
Non Tax Revenue	6,002	4,002

(Source: AFDB page no - 248)

Tax revenue

Libya's total tax revenue was LYD 45,982 million in 2009, compared to LYD 68,895 million in 2008.

(Source: AFDB page no - 248)

Current account balance - surplus/deficit

The current account balance in 2010 was estimated at 20.14% of GDP compared to 15.67% in 2009.

 

(Source: AFDB page no - 248)

Balance of payments

Balance of Payments (LYD million)
	2009	2008
Trade balance	31,436	49,962
Services Balance	-4,025	-3,166
Net Income	267	-2,004
Current transfers, net total	-13,130	-2,357
Current account balance	14,548	42,434

(Source: AFDB page no - 248)

The total labour force in Libya amounted to 2.37 million in 2009 compared to 2.29 million in 2008.   

(Source: World Bank)

Labour force participation rate

The labour force participation rate in Libya was 52.6% in 2008. (Source: africaneconomicoutlook.org)

Unemployment rate

The unemployment rate in Libya was 13.5% in 2007. (Source: africaneconomicoutlook.org)

Minimum wages

In 2009, the minimum wage in Libya was USD 208 per month. (Source: estandardsforum.org)

Level of Unionisation

Libya does not recognise trade union rights. The General Trade Union Federation of Workers (GTUFW) is the only union and is linked to the government. Independent trade unions are banned in Libya and only workers of Libyan nationality can become members.

(Source: ITUC)

The government in Libya is called the "Jamahiriya" which means state of masses. Libya is governed by the general public through local councils.

The head of state is Mu'ammar al-Qadhafi, who has been in power since 1969, when he seized power in a military coup. The prime minister is the head of the government.

Libya has a unicameral legislature; the General People's Congress (GPC) has 760 members. The members for the unicameral legislature are elected through municipal people's committees.

(Source: state.gov, estandardsforum.org)

In February 2011, the citizens started anti-government protests and protests against the four decade rule of Muammar al-Qadhafi. There have been clashes between the supporters and opponents of Muammar al-Qadhafi. Since then, most parts of the country have not  been under direct government rule. International organisations including the United Nations have condemned the violence against civilians.

(Source: globalsecurity.org)

Regulatory environment in Libya

(Source:Heritage.org)

Libya's economic freedom score is 38.6, making its economy the 173^rd freest in the 2011 Index of Economic Freedom. Libya was ranked last in the Middle East/North Africa region.

Corruption perception

Libya was placed in 146^th position in the Corruption Perceptions Index (CPI) 2010 with a score of 2.2. CPI measures the perceived level of public-sector corruption in 178 countries and territories around the world.

(Source: transparency.org)

Freedom of information

The media in Libya is restricted. Libya exercises strict control over the media. Most of the newspapers are directly or indirectly owned by the government.

(Source: BBC)

Libya is ranked 160^th on the world Press Freedom Index 2010, with a score of 63.5. (Source: rsf.org)

Newspapers

• Al-Fajr al-Jadid
• Al-Shams
• Al-Jamahiriyah
• The Tripoli Post
• Birniq

(Source: BBC)

Judicial system

The Judicial system in Libya includes three levels of courts - the courts of first instance, the courts of appeals and the Supreme Court.

The Supreme Court is the final court of justice. The GPC appoints the justices to the Supreme Court. Libya also has special revolutionary courts and military courts, which operate independently.

(Source: state.gov)

In mid-2009, the total population of Libya was 6.4 million,  compared to 6.3 million in 2008. Women accounted for 48.3% of the total population and men for 51.7%.

(Source: AFDB page no - 245)

Gender Ratio

Libya had a gender ratio of 107 men per 100 women in 2009.

(Source: UN)

65.63% of the population belongs within the age group of 15 to 64 years, followed by 30.13% of the population being below 14 years of age and 4.24% of the population above 65 years of age.

(Source: AFDB page no - 245)

Mortality rate

The total mortality rate in Libya was 4.1 deaths per thousand people in 2009. The total infant mortality rate in Libya was 17 deaths per thousand live births.

(Source: AFDB page no – 245, World Bank)

Birth rate

The birth rate in Libya was 23 births per thousand people compared to 23.3 births per 1000 people in 2008.

(Source: AFDB page no - 245)

Life expectancy rate

The average life expectancy rate at birth was 74.3 years in 2009. The life expectancy rate at birth for males and females was recorded at 71.7 years and 76.9 years respectively.

(Source: UN, AFDB page no – 245)

Migration and urbanisation

In mid-2010, the international migrant stock of Libya was 682,500 or 10.4% of the total population. (Source: UN)

In 2009, 77.7% of the population lived in urban areas compared to 78% in 2008. (Source: AFDB)

Human development index

Libya ranked 53^rd on the Human Development Index 2010 conducted by the United Nations. The HDI provides a composite measure of three dimensions of human development: living a long and healthy life (measured by life expectancy), being educated (measured by adult literacy and gross enrolment in education) and having a decent standard of living (measured by purchasing power parity, PPP, income). 

 (Source: UNDP)

Literacy rate

The adult literacy rate (above 15 years) in Libya was estimated at 88.3% in 2010 compared to 87.8% in 2009.

(Source: UNDP)

The education system in Libya consists of three stages - pre-school education, primary education and secondary education.

Primary education is compulsory and starts at the age of six. Primary education is divided into three stages, grades 1 to 4, grade 5 to 6 and grade 7­ to 9.

Secondary education lasts for three or four years. Students are eligible for secondary education after obtaining the primary education certificate. This education system consists of a number of different types of schools, such as general and specialised secondary schools, vocational training centre, sector specialised secondary schools and institutes.

(Source: UNESCO)

Public expenditure on education was 2.7% of GDP between 1999 and 2008.

(Source: africaneconomicoutlook.org)

Health care

Health care in Libya is provided by the government. The health care system in Libya is not well developed due to the lack of healthcare personnel and poorly-equipped facilities.

Libya has 480 nurses and midwives, 120 physicians, 20 dentists, 20 pharmacists, and 370 hospital beds for every 100,000 individuals.

The main causes of death include cardiovascular diseases, cancer and diabetes amongst others.

Public expenditure on health was 1.9% of GDP in 2007, compared to 1.6% in 2006.

(Source: UNDP)

The main form of public transport used in Libya is road travel.

Roadways

Libya has 100,024 km of roads, of which 57.2% are paved. (Source: estandardsforum.org)

Ports

Libya has following ports:

• Port of Abu Kammash
• Port of Ajdabiya
• Port of Al Khoms
• Port of Benghazi
• Port of Derna
• Port of Homs
• Port Marsa El Brega
• Port of Misurata
• Port of Ras el Hilal
• Port of Ras Lanuf
• Port of Sirte
• Port of Tobruq
• Port of Tripoli
• Port of Zuara

(Source:world port source)

Airports

(Source: Air charter world)

Telecommunications networks

Libya had 17.15 fixed telephone lines per 100 people in 2009.

(Source: UN)

Libya had 77.94 mobile phone subscriptions per 100 inhabitants in 2009.

(Source: UN)

Internet users

Libya had 353,900 internet users in June 2010, accounting for 5.5% of the total population.

 

(Source: UN, internetworldstats.com)