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The Libyan economy depends primarily upon revenues from the oil sector, which contribute about 95% of export earnings, 25% of GDP, and 60% of public sector wages. The weakness in world hydrocarbon prices in 2009 reduced Libyan government tax income and constrained economic growth. Substantial revenues from the energy sector coupled with a small population give Libya one of the highest per capita GDPs in Africa, but little of this income flows down to the lower orders of society. Libyan officials in the past five years have made progress on economic reforms as part of a broader campaign to reintegrate the country ...  More..

Economy of Libya
SOURCE: CIA - The World Factbook
Currency Dinar
Fiscal Year 01 January - 31 December
GDP (PPP) $95.88 billion (2009 est.)
GDP (per capita) $15,200 (2009 est.)
Exports $33.97 billion (2009 est.)
Imports $26.82 billion (2009 est.)
Main Industries Petroleum, Iron and Steel, Food Processing, Textiles, Handicrafts, Cement
Exports - Commodities Crude Oil, Refined Petroleum Products, Natural Gas, Chemicals
Imports - Commodities Machinery, Semi-finished Goods, Food, Transport Equipment, Consumer Products
Exports Partners Italy 37.5%, Germany 11.9%, France 7.3%, Spain 6.8%, US 6.3%, Switzerland 4.5% (2008)
Imports Partners Italy 22.2%, China 9.3%, Germany 8.6%, Turkey 6.1%, Tunisia 5.8%, South Korea 4.7%, US 4.1%, France 4.1% (2008)

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