The Gross Domestic Product (GDP) in Libya expanded 10.90 percent in 2018 from the previous year. GDP Annual Growth Rate in Libya averaged 5.26 percent from 2000 until 2018, reaching an all time high of 104.37 percent in 2012 and a record low of -62.10 percent in 2011.

GDP Annual Growth Rate in Libya is expected to be 10.50 percent by the end of this quarter, 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 10.00 percent in 2020, according to our econometric models.

Libya GDP Annual Growth Rate
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Libya GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 10.90 55.00 104.37 -62.10 percent [+]
GDP 48.32 38.12 87.14 20.48 USD Billion [+]
GDP Constant Prices 20388.20 39016.30 78165.80 20388.20 LYD Million [+]
GDP per capita 7529.00 7085.50 12064.80 4539.00 USD [+]
GDP per capita PPP 18405.50 17321.50 29493.90 11096.20 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. This page provides - Libya GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Libya GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
10.90 55.00 104.37 -62.10 2000 - 2018 percent Yearly




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