Libya

libyaCapital City: Tripoli
Population (Millions): 6

ECONOMIC OVERVIEW

GDP Per Capita: US$ 13800
GDP per Sector:
Agriculture – 2.6 %
Industry – 64 %
Services – 33.6%
Currency: LYD
Ex.Rates: 1.2648
Big Cities (>100,000): Triploi, Misrata
Urban Population: 78
Languages: Arabic

Background:Libya is located in Northern Africa, bordering the Mediterranean Sea, between Egypt and Tunisia. The country has a total surface area of 1.8 million square kilometers as in 2004, with a forest area of 2,170.0 square kilometers as in 2000.

Libya is an upper middle-income economy comes under Middle East and North African region as to the classification made by the World Bank on the basis of income and region for the year 2006.

The Libyan economy is dependant on revenues from the oil sector, which contribute about 95 percent of export earnings, 25 percent of GDP, and 80 percent of government revenue.

With the uprising, civil war, sanctions and UN-backed bombings stopping two-thirds of oil exports and most other trade, we can expect a sharp drop in 2011 GDP.