Libya in the Lead

• 💰 Highest Bank Liquid Reserves

  In 2024, Libya's bank liquid reserves to bank assets ratio reached an impressive 214.12%, showcasing the country's robust financial stability.

  Financial Sector

• 🏗️ Industry Leads GDP Contribution

  In 2023, the industry sector, including construction, contributed 77.34% to Libya's GDP, underscoring its pivotal role in the economy.

  Economy & Growth

• 📉 Significant Reduction in Government Claims

  In 2022, Libya experienced a -23.65% annual growth in claims on the central government as a percentage of broad money, indicating a significant reduction in government debt.

  Financial Sector

• 🛢️ Oil Dominates GDP

  In 2021, oil rents constituted 56.38% of Libya's GDP, highlighting the nation's heavy reliance on its oil sector.

  Energy & Mining Environment

• 🌍 High Natural Resource Rents

  Libya's total natural resources rents accounted for 61.03% of GDP in 2021, indicating the country's wealth in natural resources.

  Energy & Mining Environment

• 📈 Leading in Insurance and Financial Services Exports

  In 2021, insurance and financial services made up 67.03% of Libya's service exports, marking the country as a key player in this sector.

  Economy & Growth Private Sector Trade

• 💼 Ample Total Reserves

  Libya had total reserves equivalent to 36.81 months of imports in 2021, reflecting a strong buffer against economic shocks.

  Financial Sector External Debt

• 🍹 Minimal Alcohol Consumption Among Women

  In 2020, Libyan women aged 15+ consumed just 0.002 liters of pure alcohol per capita, one of the lowest globally.

  Health

Libya Following Behind

• 📉 Negative Taxes Less Subsidies

  In 2023, Libya's taxes less subsidies on products were -9,845,000,000 LCU, highlighting fiscal challenges.

  Economy & Growth

• ⚖️ Low Rule of Law Confidence

  In 2023, Libya's rule of law percentile rank lower bound was 0.94, indicating challenges in governance and legal frameworks.

  Public Sector

• 🚧 Poor Trade and Transport Infrastructure

  With a score of 1.7 in 2022, Libya's trade and transport infrastructure quality is among the lowest, impacting logistics performance.

  Private Sector Trade

• 💰 Low Broad Money Growth

  Libya's broad money growth was -20.26% in 2021, reflecting a significant contraction in the money supply.

  Financial Sector

• 🔋 Lowest Alternative and Nuclear Energy Usage

  In 2020, Libya's alternative and nuclear energy usage was just 0.01% of its total energy consumption, marking it as one of the lowest globally.

  Energy & Mining

• 💸 Negative Gross Savings

  In 2020, Libya's gross savings were -14.16% of its GNI, indicating a significant shortfall in national savings.

  Economy & Growth Environment