Libya GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Libya expanded 95.50 percent in 2012 from the previous year. GDP Annual Growth Rate in Libya is reported by the Central Bank of Libya. GDP Annual Growth Rate in Libya averaged 5.98 percent from 2000 until 2012, reaching an all time high of 95.50 percent in 2012 and a record low of -59.70 percent in 2011. Libya has one of the highest GDP per capita in Africa. Libya’s territory (90 percent of which is a desert) has the largest oil reserves in Africa and one of the largest in the world. As a result, Libya’s economy is highly dependent on oil production which accounts for 94 percent of government revenues. In 2011, as part of the Arab Spring, Libya went through a civil war that ousted the dictatorial regime. During the conflict oil production was disrupted which resulted in a GDP contraction of over 40 percent. Yet, it is expected that with the recovery of oil industry, the high rates of growth will be back. This page provides - Libya GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
95.50 -59.70 95.50 -59.70 21.56 | 2014/06 2000 - 2012 percent Yearly

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Libya GDP Annual Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 81.81 2012-12-31 34.41 93.17 19.84 74.96 2014-06-30 USD Billion [+]
GDP Annual Growth Rate 95.50 2012-12-31 -59.70 95.50 -59.70 21.56 2014-06-30 percent [+]
GDP per capita 5509.98 2011-12-31 11239.48 12705.54 5509.98 2261.21 2014-06-30 USD [+]
GDP per capita PPP 6016.93 2011-12-31 14459.56 16129.54 6016.93 -5434.33 2014-06-30 USD [+]
GDP Constant Prices 39922.70 2012-06-29 20146.30 52009.90 20146.30 65054.87 2014-06-30 LYD Million [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Libya Current Account at 30034.00 LYD Million  
Libya recorded a Current Account surplus of 30034 LYD Million in 2012. Current Account in Libya is reported by the Central Bank of Lybia.
Libya Inflation Rate at 1.70 percent  
The inflation rate in Libya was recorded at 1.70 percent in December of 2013. Inflation Rate in Libya is reported by the Central Bank of Lybia.
Libya Capital Flows at -9937.00 LYD Million  
Capital Flows in Libya decreased to -9937 LYD Million in 2012 from -3002 LYD Million in 2011. Capital Flows in Libya is reported by the Central Bank of Libya.
Libya Crude Oil Production at 230.00 Thousands Barrels per Day  
Crude Oil Production in Libya increased to 230 Thousands Barrels per Day in December of 2013 from 220 Thousands Barrels per Day in November of 2013. Crude Oil Production in Libya is reported by the U.S. Energy Information Administration.
Libya GDP Constant Prices at 39922.70 LYD Million  
GDP Constant Prices in Libya increased to 39922.70 LYD Million in 2012 from 20146.30 LYD Million in 2011. GDP Constant Prices in Libya is reported by the Central Bank Of Libya.
Libya GDP Deflator at 246.60 Index Points  
GDP Deflator in Libya increased to 246.60 Index Points in 2011 from 197.20 Index Points in 2010. GDP Deflator in Libya is reported by the Central Bank of Libya.
Libya Government Budget at 20.80 Percent of GDP  
Libya recorded a Government Budget surplus equal to 20.80 percent of the country's Gross Domestic Product in 2012. Government Budget in Libya is reported by the Central Bank of Lybia.
Libya Imports at 32343.00 LYD Million  
Imports in Libya increased to 32343 LYD Million in 2012 from 13664 LYD Million in 2011. Imports in Libya is reported by the Central Bank of Lybia.
Libya Exports at 76893.00 LYD Million  
Exports in Libya increased to 76893 LYD Million in 2012 from 15843 LYD Million in 2011. Exports in Libya is reported by the Central Bank of Lybia.
Libya Balance of Trade at 44650.00 LYD Million  
Libya recorded a trade surplus of 44650 LYD Million in 2012. Balance of Trade in Libya is reported by the Central Bank of Lybia.
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