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Country name:

conventional long form: Great Socialist People's Libyan Arab Jamahiriya
conventional short form: Libya
local long form: Al Jumahiriyah al Arabiyah al Libiyah ash Shabiyah al Ishtirakiyah al Uzma
local short form: none

 

Capital:

Tripoli (Tarabulus). Population: 2.1 million (2007).
 

Location:

Northern Africa, bordering the Mediterranean Sea, between Egypt and Tunisia

 

 

map of Libya  (kish Trade Promotion Center)

 

Area:

1,775,500 sq km (685,520 sq miles).

 

 

Description:

About 95% of Libya, Africa's fourth largest country, consists of desert (the Sahara). In the west the Sahara desert extends into Tunisia and Algeria, in the east into Egypt, and across the southern frontiers into Niger, Chad and Sudan. Only 20% of the desert features sand dunes - most of it consists of hamada (rock plateau) and, in the south, dramatic basalt mountains, the highest point of which is Bikubiti (2285m), near the Chad border. There are a few oases scattered throughout the country, mainly in the south. There are almost 1,770 km (1,100 miles) of Mediterranean coast, with a low plain extending from the Tunisian border to the Jebel Akhdar (Green Mountain) area in the east. Inland the terrain becomes more hilly. Agriculture has developed mainly on the coast between Zuwarah and Misratah in the west and from Marsa Susa to Benghazi in the east. In the uplands of the old province of Cyrenaica and on Jebel Akhdar the vegetation is more lush. Desertification is a huge problem, but the Great Manmade River Project, the largest water development scheme in the world, was built to bring water from large aquifers under the Sahara to the coastal cities.

 

 

Population:

6.2 million (2008).

 

Languages:

Arabic, Italian, English, all are widely understood in the major cities

 

Economy - overview:

Revenues from the oil industry account for the bulk of Libya's economy - about 95% of export earnings, around 25% of GDP, and 60% of public sector wages. 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 reaches the lower orders of society. Improvements came after UN sanctions were lifted in 2003 as Libya announced that it would abandon plans to build weapons of mass destruction. Almost all USA sanctions against Libya were removed in 2004, helping Libya attract more foreign direct investment, mostly in the energy sector. Libya's biggest challenge is to liberalise the socialist-oriented economy. Climatic conditions and poor soils severely limit agricultural output, and Libya imports about 75% of its food. Unemployment stood at 30% in 2004, while inflation in 2008 was estimated at 10.5% and growth at 6.3%.

Economy:

Revenues from the oil industry account for the bulk of Libya's economy - about 95% of export earnings, around 25% of GDP, and 60% of public sector wages. 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 reaches the lower orders of society. Improvements came after UN sanctions were lifted in 2003 as Libya announced that it would abandon plans to build weapons of mass destruction. Almost all USA sanctions against Libya were removed in 2004, helping Libya attract more foreign direct investment, mostly in the energy sector. Libya's biggest challenge is to liberalise the socialist-oriented economy. Climatic conditions and poor soils severely limit agricultural output, and Libya imports about 75% of its food. Unemployment stood at 30% in 2004, while inflation in 2008 was estimated at 10.5% and growth at 6.3%.
 

 

Industries:

petroleum, food processing, textiles, handicrafts, cement

 

Exports:

Crude oil, petroleum products, natural gas and chemicals.

Imports:

Machinery, semi-finished goods, food, transport equipment and consumer products. Main trade partners: Italy, Germany, Spain, USA and Tunisia.

Exchange rates:

GDP :

US$108.5 billion (2008).
 

 

Useful links:

  • Ministries & Organization
 

 

 

  • Trade Associations & Chamber of Commerce
 

 

 

 

  • Trade Fairs

 

 

 

 

 

 

  Copyright By :  Kish Trade Promotion Center  2002