Xifres de comerç exterior de Líbia

Foreign Trade in Figures

Trade has been an important element of the Libyan economy since early 2000s, peaking at 139% of GDP in 2014, before the country mired into another civil war. Nevertheless, its share recovered slightly in the last few years and, according to the latest available data, it reached 114.1% in 2020 (World Bank). Main exports included crude oil, refined petroleum products and natural gas (94% of total exports, UNCTAD), as well as gold, iron, and copper. Significant items of import include refined petroleum, automobiles, transmission apparatus for radio-telephony, rolled tobacco, and medicaments.

Libya is an active member of the AMU (Arab Maghreb Union), and the country's main suppliers are China (16.2%), Turkey (13.7%), Italy (9.1%), the United Arab Emirates (8.9%), and Egypt (5.48%). As for Libya's top export partners, they include Italy (18.1%), China (16%), Germany (15%), Spain (14.6%), and the United Arab Emirates (5.7%).

Libya's economic growth was suspended in 2011 due to the eruption of the civil war. The conflict halted commercial activities, especially exports of oil. In addition, economic and trade sanctions imposed by Western countries before the fall of Colonel Gaddafi significantly hampered trade. According to the last available data from WTO, Libya's imports of good and services decreased by 27.8% in 2020, while exports recorded a decrease of 62.6%, mainly due to the negative impacts of the pandemic. In 2021, imports of goods stood at USD 18.9 billion and imports reached USD 28.9 billion, bringing the trade balance to a deficit of USD 10 billion.