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 Q4/17 Q1/18 Q2/18 Q3/18 2020
Currency 1.37 1.36 1.34 1.33 1.32 1.16 [+]
GDP Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
GDP Annual Growth Rate -8.10 -7 -5.5 -5.4 -5.4 3.1 percent [+]
GDP 29.15 34.1 34.62 35.15 35.67 39.1 USD Billion [+]
GDP Constant Prices 20388.20 75931 69864 63796 57729 66167 LYD Million [+]
GDP per capita 5449.03 6841 6905 6969 7033 8361 USD [+]
GDP per capita PPP 13320.83 17152 17371 17589 17807 21532 USD [+]
LABOUR Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 19.22 19.2 19.2 19.2 19.2 19.2 percent [+]
Population 6.29 6.36 6.38 6.4 6.42 6.62 million [+]
PRICES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Inflation Rate 25.70 27 26.4 26 24.6 19 percent [+]
GDP Deflator 211.10 171 164 157 150 131 Index Points [+]
Food Inflation 33.40 17.62 15.93 14.62 13.61 10.44 percent [+]
CPI Transportation 216.60 210 209 209 209 206 Index Points [+]
MONEY Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Interest Rate 3.00 3 3 3 3.25 3.25 percent [+]
Money Supply M0 61196.60 62365 62311 62203 62083 60986 LYD Million [+]
Deposit Interest Rate 2.50 2.54 2.56 2.57 2.59 2.9 percent [+]
TRADE Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Balance of Trade -2645.00 4534 4780 5027 5273 7583 LYD Million [+]
Exports 9402.00 12311 12585 12858 13132 17399 LYD Million [+]
Imports 12047.00 18097 19701 21306 22910 19877 LYD Million [+]
Current Account -5734.00 3478 3876 4273 4670 6458 LYD Million [+]
Current Account to GDP -37.80 -21 -25 -25 -9.07 -16 percent [+]
Capital Flows -3468.00 -8927 -8874 -8822 -8769 -8085 LYD Million [+]
Gold Reserves 116.64 118 118 119 119 123 Tonnes [+]
Crude Oil Production 923.00 1164 1231 1259 1273 1286 BBL/D/1K [+]
Terrorism Index 7.28 6.55 6.31 6.07 5.83 3.64 [+]
GOVERNMENT Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Government Debt to GDP 16.50 18 15 15 13.75 11 percent [+]
Government Budget -59.90 -59.57 -57.37 -55.16 -52.96 -29.38 percent of GDP [+]
Military Expenditure 3737.70 3922 3866 3809 3753 2681 USD Million [+]
BUSINESS Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Steel Production 25.44 39.23 48.11 54.17 58.37 67.41 Thousand Tonnes [+]
Ease Of Doing Business 185.00 188 188 188 188 188 [+]
Competitiveness Index 3.48 3.63 3.62 3.61 3.6 3.73 Points [+]
Competitiveness Rank 126.00 112 114 116 118 100 [+]
Corruption Index 14.00 18 18 17 17 22 Points [+]
Corruption Rank 170.00 167 166 165 165 159 [+]
TAXES Actual Q4/17 Q1/18 Q2/18 Q3/18 2020
Corporate Tax Rate 20.00 24 25 26 27 32 percent [+]
Personal Income Tax Rate 10.00 11 11 11 11 11 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 [+]