The Gross Domestic Product (GDP) in Libya expanded 4 percent in 2019 from the previous year. source: Central Bank of Libya

GDP Annual Growth Rate in Libya averaged 5.20 percent from 2000 until 2019, reaching an all time high of 104.37 percent in 2012 and a record low of -62.10 percent in 2011. This page provides - Libya GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Libya GDP Annual Growth Rate - values, historical data and charts - was last updated on January of 2021.

GDP Annual Growth Rate in Libya is expected to reach -45.00 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Libya GDP Annual Growth Rate is projected to trend around 3.00 percent in 2021 and 7.00 percent in 2022, according to our econometric models.

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Libya GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.00 10.90 104.37 -62.10 2000 - 2019 percent Yearly

Libya GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 4.00 10.90 104.37 -62.10 percent [+]
GDP 52.08 52.61 87.14 20.48 USD Billion [+]
GDP per capita 8122.20 8038.60 12064.80 4539.00 USD [+]
GDP per capita PPP 15174.20 15018.00 22539.90 8479.90 USD [+]


Libya GDP Annual Growth Rate
Libya has one of the highest GDP per capita in Africa. Libya’s territory (90 percent of which is a desert) has the largest oil reserves in Africa and one of the largest in the world. As a result, Libya’s economy is highly dependent on oil production which accounts for 94 percent of government revenues. In 2011, as part of the Arab Spring, Libya went through a civil war that ousted the dictatorial regime. During the conflict oil production was disrupted which resulted in a GDP contraction of over 40 percent. Yet, it is expected that with the recovery of oil industry, the high rates of growth will be back.