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General Information about Libya
Libya, officially The Great Socialist People's Libyan Arab Jamahiriya is a North African country. Bordering the Mediterranean Sea to the North, Libya lies between Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria as well as Tunisia to the west.
Libya extends over 1,759,540 square kilometers (679,182 sq. mi), 90% of which is desert, making it the 17th largest nation in the world by size. At 1770 kilometers (1100 miles), Libya's coastline is the longest of any African country bordering the Mediterranean. The climate is mostly dry and desert-like in nature. However, the northern regions enjoy a milder Mediterranean climate.

 

 

Economy
Libya is a former socialist-oriented economy, which continues to depend primarily upon revenues from the petroleum sector, which represent almost 95% of all export earnings and over half of GDP. These oil revenues and a small population give Libya one of the highest per capita GDPs in Africa. Since 2000, Libya has recorded favorable growth rates with an estimated 8.1% growth of GDP in 2006.
Libya has begun some market-oriented reforms. Initial steps have included applying for membership of the World Trade Organization, reducing subsidies, and announcing plans for privatization. The non-oil manufacturing and construction sectors, which account for about 20% of GDP, have expanded from processing mostly agricultural products to include the production of petrochemicals, iron, steel and aluminum. From climatic conditions and poor soils, which severely limit agricultural output, Libya imports about 75% of its food, and accordingly, the country is worldwide recognized as an import-driven society with extremely limited local production and manufacturing capabilities.
Libya should be considered as a virgin market, offering opportunities in all sectors, from oil & gas to transport, agriculture, telecommunications and tourism, to name but few.

 

 

 Statistics
GDP growth: 8.5% (2005 estimation)
GDP growth: 8.1% (2006 estimation.)
GDP per capita: $11,630 (2005 estimation)
GDP by sector: agriculture (7.6%), industry (49.9%), services (42.5%)
Inflation (CPI): less than 1% (2005 estimation)
Main industries: petroleum, steel, iron, food processing, textiles, cement
Exports:$30.79 billion (f.o.b., 2005)
Export goods: crude oil, refined petroleum products, natural gas
Main export partners: Italy 37.2%, Germany 16.6%, Spain 11.8%, Turkey 7.1%,
France 6.2% (2004)
Imports: $10.82 billion (f.o.b., 2005)
Main import partners: Italy 25.2%, Germany 11%, South Korea 6%, UK 5.4%,
Tunisia 4.7%, Turkey 4.6% (2004)