Libya: economy

What is the inflation rate in Libya?

Consumer prices in Libya were 16.6% higher in September 2026 than a year earlier, up from 14.3% in August, according to the Bureau of Statistics and Census. The consumer price index stood at 119.1 (2024 = 100), against 102.1 in September 2025.

Clothing and footwear rose most, by 29.1%, followed by furniture and household equipment (21.8%), food and beverages (21.2%), restaurants and hotels (20.9%) and health (20.1%). Housing, water, electricity and fuels rose 6.8% and education 5.7%. The report is published in Arabic and English. For comparison, the IMF World Economic Outlook database records average inflation of 1.8% in 2025.

Official sources: Bureau of Statistics and Census · IMF World Economic Outlook database

What is the Libyan dinar exchange rate?

The Central Bank of Libya's rate on 15 October 2026 was 6.4081 dinars buying and 6.4403 dinars selling per US dollar, according to the Central Bank of Libya. The euro was 7.1822 buying and 7.2182 selling.

The Central Bank publishes official buying and selling rates for each working day on its home page, together with rates for sterling, the Canadian dollar and other currencies.

Official sources: Central Bank of Libya

Does Libya have a trade surplus?

Libya recorded a trade surplus of 5,661.6 million dinars in 2025, according to the Bureau of Statistics and Census foreign trade bulletin. Exports rose by about 10,193.1 million dinars, or 7.5%, on 2024, and imports by 6,719.5 million dinars.

The bulletin covers goods trade, classified by commodity (SITC) and by partner country, with values in Libyan dinars. Because the value of exports depends heavily on oil, it moves with oil prices and output as well as with the exchange rate. The bulletin is published in Arabic, with table titles in English.

Official sources: Bureau of Statistics and Census foreign trade bulletin

What is Libya's GDP growth rate?

Libya's real GDP grew 15.9% in 2025, according to the IMF World Economic Outlook database. The IMF projects growth of 3.3% in 2026, after 4.2% in 2024 and 10.5% in 2023; GDP fell 8.6% in 2022.

Libya's growth swings widely from year to year in the IMF series. No national GDP figures could be read on the Bureau of Statistics and Census site on 15 October 2026, so the IMF series is used here. Recent years are estimates and are revised in each edition of the database.

Official sources: IMF World Economic Outlook database

What was Libya's annual inflation rate in recent years?

Libya's consumer prices rose 2.1% in 2024, according to the Bureau of Statistics and Census Statistical Book 2024. Inflation was 2.4% in 2023, 4.6% in 2022 and 2.8% in 2021. Prices fell 2.2% in 2019.

The annual series uses an index with 2008 as its base year, which reached 301.4 in 2024, so prices were about three times their 2008 level. Inflation peaked at 25.8% in 2017 and 13.1% in 2018. The Bureau now publishes a monthly index on a 2024 base, which shows much faster price rises in 2026, so the two series should not be joined directly.

Official sources: Statistical Book 2024

Does Libya earn more abroad than it spends?

Libya had a current account deficit of 2,078.5 million dinars in 2024, according to the Central Bank of Libya balance of payments in the Bureau of Statistics and Census Statistical Book 2024. The account was in surplus by 8,950.1 million dinars in 2023 and 46,115.5 million in 2022.

The current account adds up trade in goods and services, income flows and transfers. In 2024 the goods surplus of 50,086.0 million dinars was outweighed by a services deficit of 42,682.6 million and net transfers out of 27,361.4 million, mostly workers' transfers abroad. Income from investments abroad brought in a net 17,879.5 million dinars.

Official sources: Statistical Book 2024

How much of Libya's exports come from oil and gas?

Hydrocarbons made up 153,347.5 million of Libya's 162,106.5 million dinars of goods exports in 2024, or 94.6%, according to the Central Bank of Libya balance of payments in the Bureau of Statistics and Census Statistical Book 2024. Other exports were worth 8,759.0 million dinars.

Hydrocarbon exports were 168,955.7 million dinars in 2023 and 180,789.1 million in 2022, so their value has fallen in each of the last two years. The same book reports crude oil production and export volumes from the oil sector. Crude oil, petroleum products and gas production figures for 2020 to 2024 appear in the same book.

Official sources: Statistical Book 2024

How large are Libya's foreign reserves?

Libya's total reserves, including gold, were US$104.7 billion at the end of 2025, according to the World Bank. Reserves were US$92.9 billion in 2024, US$92.4 billion in 2023 and US$79.7 billion in 2020.

Reserves are the foreign currency, gold and other external assets held by the monetary authorities. The figures are in current US dollars, so changes in the value of gold and of other currencies against the dollar move them as well as purchases and sales.

Official sources: World Bank

What is GDP per person in Libya?

GDP per person in Libya was US$6,449 in 2025 in current dollars, according to the World Bank. It was US$6,569 in 2024, US$6,027 in 2023 and US$4,936 in 2021.

The figure divides GDP, converted to dollars at the official exchange rate, by the population, which the World Bank put at 7,458,555 in 2025. The Bureau of Statistics and Census estimated the Libyan population at 7,384.2 thousand in 2024, according to its Statistical Book 2024; that figure counts Libyans only.

Official sources: World Bank · Statistical Book 2024

What is Libya's economic growth rate?

The latest figure from the World Bank, for 2025, is 13.4%. Its high point since 2005 was 2012, at 86.8%; its low point was 2011, at -50.3%. Middle East, North Africa, Afghanistan & Pakistan median: 3.5%; Libya is 1st highest of 17. Worldwide: 2nd of 180.

How rich is Libya per person?

$6,449: that is GDP per person in Libya for 2025, according to the World Bank. Its high point since 2005 was 2012, at $14,976; its low point was 2021, at $4,936. It is 8th highest of 17 in Middle East, North Africa, Afghanistan & Pakistan, where the median is $6,051. World rank, highest first: 102nd of 180.

What is Libya's GDP per person adjusted for prices?

The latest figure from the World Bank, for 2025, is $16,521 in international dollars. Its high point since 2005 was 2007, at $30,929 in international dollars; its low point was 2020, at $10,955 in international dollars. It is 11th highest of 17 in Middle East, North Africa, Afghanistan & Pakistan, where the median is $19,699 in international dollars. Of 179 countries with 2025 data, 101st highest.

How big are Libya's exports?

The World Bank puts exports of goods and services in Libya at 71.7% of GDP in 2025. Its high point since 2005 was 2021, at 92.1% of GDP; its low point was 2016, at 14.6% of GDP. Middle East, North Africa, Afghanistan & Pakistan median: 29.7% of GDP; Libya is 3rd highest of 11. Of 133 countries with 2025 data, 17th highest.

Does Libya earn more abroad than it spends?

4.2% of GDP: that is the current account balance in Libya for 2023, according to the IMF. The peak was 41.9% of GDP in 2007 and the low -33.2% of GDP in 2014. Middle East, North Africa, Afghanistan & Pakistan median: 2.5% of GDP; Libya is 8th highest of 18. Of 172 countries with 2023 data, 32nd highest.

How much foreign investment does Libya receive?

According to the IMF, net inflows of foreign direct investment in Libya was 1.7% of GDP in 2025. Since 2005 it has ranged from 0.9% of GDP (2013) to 6.9% of GDP (2007). Across Middle East, North Africa, Afghanistan & Pakistan the middle value was 1.8% of GDP, and Libya placed 10th highest of 17. World rank, highest first: 103rd of 179.