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Libya Economy

Gross Domestic Product 2012

GDP (purchasing power parity): $87.91 billion (2012 est.)
GDP real growth rate: 121.9% (2012 est.)
GDP per capita (PPP): $13,300 (2012 est.)

GDP composition by sector

Agriculture: 2%

Industry: 40.1% Services: 57.9% (2012 est.)

Inflation: 3.6% (2012 est.)

Currency: Libyan Dinar

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Business Languages

Arabic (official), Italian, English (all widely understood in the major cities)

Transport

The road network of Libya is about 100,024 kilometers and more than half of it is paved. The country has 144 airports and 2 heliports, 64 of the airports have paved runways. Tripoli International Airport is Libya’s International airport. There is no railway transport in the country.

Energy

The two main sources of Energy in Libya are oil and gas. Energy is the backbone of the economy and the availability of cheap energy has helped the expansion of all sectors, like industry, commerce and construction services

Challenges

• Security concerns
• Rebuilding the economy
• Addressing leadership challenges

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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