Economy
Nominal GDP
USD 46.9 billion
GDP per capita
USD 5,993
2021–2025 average
Currency
- Name
- Libyan dinar
Ливийский динар - ISO code
- LYD
- Rate against the US dollar
- USD 1 = 6.4001 LYD
- Rate against the rouble
- 1 LYD = 13.0559 RUB
- Rate type
- Cross rate via the Bank of Russia USD/RUB rate
- Currency zone
- National currency
Exchange rate as of 1 October 2026
Economic structure
GDP structure: 2021–2025 average Source: Based on World Bank data. Period: 2021–2025 average
Industries and programmes
- Key industries
- Oil and gas (over 90% of exports), oil refining, petrochemicals, and construction.
- Government programmes
- National Oil Corporation (NOC) programs to restore oil and gas production
- Infrastructure reconstruction programs
International trade
Exports of goods, 2021–2025
USD billion Source: World Bank / WTO, merchandise exports (TX.VAL.MRCH.CD.WT). Period: 2021–2025
Table
| Year | USD billion | index, 2021 = 100 |
|---|---|---|
| 2021 | 31.0 | 100.0 |
| 2022 | 39.2 | 126.5 |
| 2023 | 33.1 | 106.8 |
| 2024 | 30.2 | 97.4 |
| 2025 | 30.1 | 97.1 |
- Imports of goods
- USD 21.6 billion 2021–2025 averageSource: ITC. Period: 2021–2025 average
- Exports of goods and services
- USD 34.5 billion 2025Source: World Bank, national accounts. Period: 2025
- Change in exports of goods, 2021–2025
- −2.9%
- Average annual rate of change in exports of goods, 2021–2025
- −0.7%
Export specialisation
Main export products
share of exports of goods, %, 2024 Source: UN Comtrade, 2024; mirror data from importing countries (the country does not report); shares based on imports of the largest partners. Period: 2024
Main export destinations
share of exports of goods, %, 2024 Source: UN Comtrade, 2024; mirror data from importing countries (the country does not report); shares based on imports of the largest partners. Period: 2024
Investment areas
- Oil and gas services
- Restoration of the power sector
- Construction and infrastructure
- Grain supplies
Agreements with Russia
Investment protection
Agreement on the Promotion and Reciprocal Protection of Investments: signed 17 April 2008; in force since 15 October 2010
In force
Double taxation
There is no double taxation agreement with Russia.
Absent
Visa requirements
Russian citizens holding ordinary passports require a visa
Visa required
Peaceful nuclear energy
No information
Other agreements
- Debt Settlement Agreement (2008): cancellation of approximately USD 4.5 billion in debt.
Incentives
- Main regimes and incentives
Investment Promotion Law No. 9/2010: corporate income tax exemption for 5 years and equipment duty exemptions; incentives may be extended.
- Type of measure
- Investment agency
- Privatization and Investment Board (Privatization and Investment Board), Ministry of Economy and Trade
- Ministry
- Privatization and Investment Board (Privatization and Investment Board), Ministry of Economy and Trade
