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Economy of Libya

Economy of Libya
CountryLibya
Width290px
CurrencyLibyan dinar (LD)
Yearcalendar year
|organsOPEC, Common Market for Eastern and Southern Africa
|rankNA
|gdp(+)$91.1 billion (2009)
|growth1.8% (2009)
|per Capita$14,381 (2009)
|sectorsagriculture (7.6%), industry (49.9%), services (42.5%)
|inflationless than 1% (2005 est.)
|povertyNA% (2006 est.)
|labor1.64 million (includes unemployed) (2005)
|occupationsagriculture 17%, industry 23%, services and government 59% (2004 est.)
|unemployment21% (2006)|
Industriespetroleum, steel, iron, food processing, textiles, cement
|exports$30.79 billion (f.o.b., 2005)
|export-goodscrude oil, refined petroleum products, natural gas
|export-partnersItaly 37.2%, Germany 16.6%, Spain 11.8%, Turkey 7.1%, France 6.2% (2004)
|imports$10.82 billion (f.o.b., 2005)
|import-goodsmachinery, transport equipment, semi-finished goods, food, consumer products
|import-partnersItaly 25.2%, Germany 11%, South Korea 6%, UK 5.4%, Tunisia 4.7%, Turkey 4.6% (2004)
|debt$4.267 billion (2005)
|revenue(+)$25.34 billion
Expenses$15.47 billion, including capital expenditures of $5.6 billion (2005)
Aidrecipient ODA $4.4 million (2002)
Cianameus

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Libya's centrally planned economy depends primarily upon revenues from the petroleum sector, which contributes practically all export earnings and over half of GDP. These oil revenues and a small population give Libya one of the highest per capita GDPs in Africa. Since 2000, Libya has recorded favourable growth rates with an estimated 8.1% growth of GDP in 2006.

Economy of Libya Video

Omar Turbi, Expert, US Libya Relations interviewed on CNN when Prime Minister Tony Blair of Britain visited Libya on March 25t, 2004 www.OmarTurbi.com
4.52 min. | 5.0 user rating		 Omar Turbi, Expert, US Libya Relations interviewed on CNN when Prime Minister Tony Blair of Britain visits Libya on March 25t, 2004 www.OmarTurbi.com
4.43 min. | 5.0 user rating		 Omar Turbi, Expert, US Libya Relations interviewed on CNN on the trial of the Bulgarian nurses and Palestinian doctor 12-19-06 www.OmarTurbi.com
9.43 min. | 5.0 user rating		 How To Go To Heaven: www.jesus-is-savior.com www.huffingtonpost.com Quantitative Easing Is Just Devaluation November 2, 2010 07:46 PM As the Federal Reserve Board gets ready for yet another round of quantitative easing (ie printing more money), one may well ask: why? If previous quantitative easing hasn't spurred domestic spending, why does the Fed believe that more of the same will suddenly produce results? It's not domestic spending that the Fed really hopes to stimulate by printing more money, but, rather, exports. While the Fed's zero interest rate policy has yet to lever much in the way of a domestic spending rebound, no one can doubt its ability to drop the value of its currency. With the US Treasury depleted and interest rates already at zero, that's about all that's left in the policy tool kit. Lurking behind the Fed's official concerns for deflation lies its real agenda--the old standby, the "beggar thy neighbor" policy of trying to export your unemployment to your trading partners via a falling currency. But the same reasons that make gold an obvious reciprocal of a falling US dollar make it equally unsuitable as a source of stimulus to the US economy. It's not against gold that the Fed seeks devaluation. It's against the yuan, the yen, the euro, the Canadian dollar and the currencies of America's other trading partners that the Fed hopes to gain some traction with job creation and economic growth. www.huffingtonpost.com Fed's Quantitative Easing Gets Slammed By <b>...</b>
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Libyan Phone Networks Stock Market Listing Early 2011 - Cellular-News Tweet this news
Cellular-News---...- in 2011 on the exchange, which has become a symbol of the gradual opening up of -Libya's economy- since international sanctions were lifted six years ago. ... - Date : Tue, 26 Oct 2010 17:20:09 GMT+00:00
UAE only one from region in most advanced stage: WEF - Zawya Tweet this news
Zawya--In the overall ranking of 139 -economies-, they are placed 17th, 21st and 35th, respectively. "The UAE is the only -economy- from the region that has reached ... - Date : Tue, 26 Oct 2010 06:16:39 GMT+00:00
Libyan-Chadian economic meeting opens in Tripoli - Afrique en Ligue Tweet this news
Afrique en Ligue--Tripoli, -Libya- - The -Libyan--Chadian economic meeting hosted by the -Libyan- General People's Committee for Industry, -Economy- and Trade began on Monday in ... - Date : Tue, 19 Oct 2010 08:32:02 GMT+00:00
France hopes to build Libyan nuclear power station - RFI Tweet this news
RFI--The agreement in principle, signed by French Industry Minister Christian Estrosi and -Libyan- officials in Tripoli, concerns the -economy- and the energy sector ... - Date : Sat, 23 Oct 2010 15:26:18 GMT+00:00

Year GDP USD to LYD (2000=100) > Per Capita Income
(as % of USA)
1980 10,882 0.29 LYD 25 104.37
1985 8,227 0.29 LYD 45 46.13
1990 8,185 0.28 LYD 57 30.42
1995 10,679 0.34 LYD 89 24.45
2000 17,668 0.51 LYD 100 20.70
2005 50,693 1.22 LYD 80 18.49

Statistic Amount
Proven Oil Reserves (2007E) 41.5 b/bbl
Oil Production (2006E) 1.8 mmbd (95% crude)
Oil Consumption (2006E) 284000 oilbbl/d
Net Oil Exports (2006E) 1,525 Mbpd
Crude Oil Distillation Capacity (2006E) 378 mbpd
Proven Natural Gas Reserves (2007E) 52.7 tcf
Natural Gas Production (2006E) 399 Gcuft
Natural Gas consumption (2005E) 206 Gcuft

Refining and Downstream :
Refinery Capacity Operator
Zawia Refinery 120,000 ZOC
Ras Lanuf Refinery 220,000 Rasco
El-Brega Refinery 10,000 SOC
Tobruk Refinery 20,000 Agoco
Sarir Refinery 10,000 Agoco

Refining and Downstream :
Organisation Survey Ranking
Heritage Foundation/The Wall Street Journal Freedom 152 out of 157
The Economist 2005 70 out of 111
Energy Information Administration 2006 9 out of 20
Reporters Without Borders (2007) 155 out of 169
Transparency International 2007 131 out of 180
United Nations Development Programme 2005 58 out of 177

LY topics

History
Politics		General People's Congress * Heads of Government * Heads of State * Italo-Turkish War * Libyan Jewish population * Prime Minister
Geography
Economy		Cities * Communications * Companies * Demographics * Districts * Great Manmade River * Health * Mediterranean Sea * Transport
CultureCoptic Orthodoxy * Literature * Music * Public holidays * Scouts and Girl Guides * Sport (Libya 2013 * National football team * National futsal team * Rugby) * Sufism
LanguagesArabic * Berber (Awjilah * Sawknah) * Domari * Tamahaq * Tebu

Organization of the Petroleum Exporting Countries (OPEC)

DZAlgeria * AOAngola * ECEcuador * IRIran * IQIraq * KWKuwait * LYLibya * NGNigeria * QAQatar * SASaudi Arabia * AE United Arab Emirates * VEVenezuela



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