Libya | Economic Forecasts | 2017-2020 Outlook

This page has economic forecasts for Libya including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Libya economy.


MARKETS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Currency 1.36 1.35 1.33 1.32 1.31 1.16 [+]
GDP Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
GDP Annual Growth Rate -6.00 2.9 3.6 2 1.5 3.1 percent [+]
GDP 29.15 40.53 40.57 40.95 41.32 39.86 USD Billion [+]
GDP Constant Prices 20388.20 65842 75931 69864 63796 66167 LYD Million [+]
GDP per capita 5449.03 6875 7023 6660 6298 5878 USD [+]
GDP per capita PPP 13320.83 16808 17168 16282 15396 14370 USD [+]
LABOUR Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Unemployment Rate 19.50 17.74 17.16 16.57 15.99 20.2 percent [+]
Population 6.28 6.31 6.32 6.34 6.36 6.67 million [+]
PRICES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Inflation Rate 27.20 28.4 27 26.4 26 19 percent [+]
GDP Deflator 211.10 209 210 210 210 211 Index Points [+]
Food Inflation 26.20 25.14 25.16 25.15 25.15 25.15 percent [+]
CPI Transportation 207.80 212 214 216 217 218 Index Points [+]
MONEY Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Interest Rate 3.00 3 3 3 3 3 percent [+]
Money Supply M0 56565.20 59358 60927 62481 64021 78651 LYD Million [+]
Deposit Interest Rate 2.50 2.5 2.5 2.5 2.5 2.5 percent [+]
TRADE Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Balance of Trade -2643.00 10623 16392 13280 10167 -2274 LYD Million [+]
Exports 14996.90 17799 13714 17088 20463 21768 LYD Million [+]
Imports 22684.50 33262 35196 37940 40685 38979 LYD Million [+]
Current Account -5734.00 9230 17050 13892 10735 -6479 LYD Million [+]
Current Account to GDP -37.80 -21 -21 -25 -25 -16 percent [+]
Capital Flows -3468.00 -4442 -4218 -4074 -3930 -3743 LYD Million [+]
Gold Reserves 116.64 117 117 117 117 117 Tonnes [+]
Crude Oil Production 890.00 1060 1164 1231 1259 1286 BBL/D/1K [+]
Terrorism Index 7.28 6.59 6.55 6.31 6.07 3.64 [+]
GOVERNMENT Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Government Debt to GDP 15.30 18 18 15 15 11 percent [+]
Government Budget -54.60 -55.19 -59.7 -58.78 -57.86 -58.14 percent of GDP [+]
Military Expenditure 3737.70 4310 4421 4424 4428 5794 USD Million [+]
BUSINESS Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Steel Production 20.00 31.62 34.61 35.08 35.15 35.16 Thousand Tonnes [+]
Ease Of Doing Business 188.00 188 188 188 188 188 [+]
Competitiveness Index 3.48 3.65 3.63 3.62 3.61 3.73 Points [+]
Competitiveness Rank 126.00 112 112 114 116 100 [+]
Corruption Index 14.00 15 14 14 14 14 Points [+]
Corruption Rank 170.00 166 167 168 168 169 [+]
TAXES Actual Q3/17 Q4/17 Q1/18 Q2/18 2020
Corporate Tax Rate 20.00 20 20 20 20 20 percent [+]
Personal Income Tax Rate 10.00 10 10 10 10 10 percent [+]
Social Security Rate 15.00 15 15 15 15 15 percent [+]
Social Security Rate For Companies 11.25 11.25 11.25 11.25 11.25 11.25 percent [+]
Social Security Rate For Employees 3.75 3.75 3.75 3.75 3.75 3.75 percent [+]