Libya FlagLibya

He Who Searches For Pearls Should Not Sleep.

 

General


Population: 6,244,174 (2014), 6,002,347 (2013)
Land Area: 1,759,540 sq km
Natural Resources: Petroleum, natural gas, gypsum
Capital: Tripoli
Political System: Transitional Government
State Leader: Abdullah al-Thani (May 4th 2014)
Languages: Arabic, Italian, English
Currency: Libyan Dinar (LYD)
Major Religions: Sunni Muslim 97%, Other 3%
Major Ethnicities: Berber and Arab 97%, Other 3%
Life Expectancy: 76.04 years (2014), 75.83 years (2013)

Economy


GDP Official Exchange Rate: 70.92 billion (2013), 85.11 billion (2012)
GDP Purchasing Power Parity: 73.6 billion (2013), 87.91 billion (2012)
GDP Per Capita (PPP): 11,300 (2013), 13,300 (2012)
GDP Growth Rate: -5.1% (2013), 121.9% (2012)
GDP Structure: Agriculture 2%, industry 58.3%, Services 39.7% (2013)
Labour Force By Occupation: Agriculture 17%, Industry 23%, Services 59% (2004)
Industries: Petroleum, iron and steel, food processing, textiles, handicrafts, cement
Agriculture Products: Wheat, barley, olives, dates, citrus, vegetables, peanuts, soybeans; cattle
Human Development Index: 0.784 (55th)(2014), 0.769 (64th)(2013)
Tourism Revenue: 261 million (2004)
Unemployment Rate: 30% (2004)

MilitaryLibya Map


Army Size: 76 000 (2004)
Budget: 3.9% of GDP (2005)

Current Situation

 

Libya is located in North Africa. Libya is bordered by Algeria, Chad, Egypt, Niger, Sudan and Tunisia. Libya's economy relies mainly on oil exports. Lybia has in the last decade opened up itself to the capitalist world economy and is cutting subsidies and undertaking privatizations. Following the civil war in 2011 Muammar Gaddafi was overthrown a new democratic governement was put in place. The economy took a major hit but bounced back nicely in 2012, it will remain to be seen if the new political system will hold up and be able to offer stable growth.

(2014) Although Libya's economy had recovered somewhat from it's civil war in 2012, it began to contract again in 2013 when violence between rival militias erupted. In 2014 a new government was elected although the election is disputed, the political situation is extremely fragile to the point that most foreign nations have evacuated their embassies

Thoughts & Comments

 

Sources

CIA World Factbook: Libya
Wikipedia: Libya
http://hdrstats.undp.org/en/countries/profiles/LBY.html

Updated on: October 15th, 2014