Libya - Economic Forecasts - 2018-2020 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 Q1/18 Q2/18 Q3/18 Q4/18 2020
Currency 1.34
1.36 1.37 1.38 1.4 1.46
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Annual Growth Rate -8.10
percent
-5.5 -5.4 -5.4 -5.4 3.1
GDP 29.15
USD Billion
38.22 36.85 35.47 34.1 39.1
GDP Constant Prices 20388.20
LYD Million
45665 55754 65842 75931 66168
GDP per capita 5449.03
USD
7880 7533 7187 6841 8361
GDP per capita PPP 13320.83
USD
19730 18871 18012 17152 21532
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployment Rate 19.22
percent
19.2 19.2 19.2 18.23 19.2
Population 6.29
million
6.29 6.31 6.33 6.36 6.62
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Inflation Rate 25.70
percent
26.4 26 24.6 23 19
GDP Deflator 211.10
Index Points
179 177 174 171 131
Food Inflation 33.40
percent
26.16 23.5 21.32 19.54 13.1
CPI Transportation 216.60
Index Points
219 219 219 218 215
MONEY Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Interest Rate 3.00
percent
3 3 3.25 3.25 3.25
Money Supply M0 61215.00
LYD Million
61186 61090 60982 60871 59986
Deposit Interest Rate 2.50
percent
2.54 2.54 2.54 2.54 2.9
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Balance of Trade -2645.00
LYD Million
-974 862 2698 4534 7583
Exports 9402.00
LYD Million
13149 12870 12590 12311 17399
Imports 12047.00
LYD Million
19989 19358 18727 18097 19877
Current Account -5734.00
LYD Million
-3572 -1222 1128 3478 6458
Current Account to GDP -37.80
percent
-25 -25 -24.55 -25 -16
Capital Flows -3468.00
LYD Million
-7738 -8134 -8531 -8927 -8085
Gold Reserves 116.64
Tonnes
117 118 118 119 122
Crude Oil Production 962.00
BBL/D/1K
1157 1223 1254 1269 1283
Terrorism Index 7.26
6.66 6.61 6.56 6.51 3.59
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt to GDP 16.50
percent
15 15 15.2 15 11
Government Budget -59.90
percent of GDP
-54.92 -56.47 -58.02 -59.57 -29.38
Military Expenditure 3737.70
USD Million
4185 4097 4009 3922 2681
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Steel Production 50.72
Thousand Tonnes
54.46 58.51 61.56 63.61 67.85
Ease Of Doing Business 185.00
187 188 188 188 187
Competitiveness Index 3.48
Points
3.68 3.67 3.65 3.63 3.73
Competitiveness Rank 126.00
113 113 112 112 100
Corruption Index 14.00
Points
16 17 17 18 22
Corruption Rank 170.00
161 163 165 167 159
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Corporate Tax Rate 20.00
percent
24 24 24 24 32
Personal Income Tax Rate 10.00
percent
11 11 11 11 11
Social Security Rate 15.00
percent
15 15 15 15 15
Social Security Rate For Companies 11.25
percent
11.25 11.25 11.25 11.25 11.25
Social Security Rate For Employees 3.75
percent
3.75 3.75 3.75 3.75 3.75
CLIMATE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Temperature 29.87
celsius
15 26.42 29.31 18.47 22.81