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Libya Trade (% GDP)

Libya's trade (% GDP) fell to 133.93% in 2024, down from 155.66% in 2023, according to World Bank. This represents a decrease of 21.73% from the previous year. Libya has trade (% GDP) higher than the global median (133.93% vs median 84.49%). Compared with the median in Africa, Libya is higher (133.93% vs regional median 62.95%) and ranks 4th out of 48 countries in Africa.

Yearly Historical Data (1990-2024)

(in %)
Year Trade (% GDP)
2024 133.93%
2023 155.66%
2022 156.32%
2021 164.28%
2020 50.98%
2019 78.99%
2018 63.78%
2017 47.55%
2016 41.11%
2015 56.9%
2014 76.52%
2013 106.33%
2012 98.22%
2011 63.01%
2010 98.08%
2009 107.62%
2008 103.24%
2007 102.73%
2006 97.74%
2005 90.86%
2004 96.13%
2003 90.61%
2002 78.86%
2001 43.17%
2000 45.28%
1999 34.8%
1998 40.25%
1997 48.63%
1996 52.55%
1995 51.59%
1994 53.15%
1993 59.79%
1992 56.06%
1991 64.6%
1990 70.8%
Libya Trade (% GDP) : Definition
Trade (% GDP) measures the sum of exports and imports for Libya divided by its total economic output, shown as a percentage.
Indicator Last Value Prior Value Period
Annual Exports $29.29B $30.04B 2019
Annual Imports $15.66B $13.47B 2019
Exports (% GDP) 74.83% 85.11% 2024
FDI Inflows (% GDP) 1.76% 1.62% 2023
Imports (% GDP) 59.1% 70.54% 2024
Net Trade (Goods & Services, BoP) $4.47B $11.96B 2023
Tariff Rate 4.46% 4.84% 2021