Nominal GDP $40.194B, Per capita GDP $5,872.22, Population 6,888,388, Debt to GDP 81.0%, Inflation 20.5%, Unemployment 18.52%, Labor force participation men 61.4% women 34.8%, Land area 379,400 sq miles, Arable land 2%, Grazing land 2%, Urban 81.7%, Rural 18.3%, Exports $36B, Imports $45.9B, Trade Deficit $9.9B.
Exports include Crude Petroleum ($30.3B), Petroleum Gas ($3.04B), Gold ($744M), Refined Petroleum ($700M), and Scrap Iron ($250M), exporting mostly to Italy ($9.26B), Spain ($3.48B), Germany ($3.32B), China ($2.52B), and France ($2.26B).
Imports include equipment for the oil and construction industries, farm machinery, consumer goods, and agricultural products. Imports of food and live animals were $10B in 2019.
The top imports of Libya are Refined Petroleum ($5.27B), Cars ($571M), Broadcasting Equipment ($543M), Rolled Tobacco ($474M), and Jewellery ($390M), importing mostly from Turkey ($2.84B), China ($2.37B), Italy ($2.28B), Greece ($1.95B), and United Arab Emirates ($1.31B).
Violence between armed groups can break out with little warning. Human trafficking and financial crimes are active.
Comments
Libya exports crude oil and will see their oil prices reduced if Trump is elected in 2024. This will increase their Trade Deficit that has been in the $10B range.
Norb Leahy, Dunwoody GA Tea Party Leader
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