Libya

Description of Libya

As a nation at the crossroads of Africa and the Middle East, Libya holds a strategic position with immense geopolitical importance. The country is rich in natural resources such as oil and gas, which have significantly shaped its economy and political landscape. Despite its potential for prosperity, Libya has faced challenges stemming from political instability and regional conflict in recent years. Understanding the complex dynamics of Libya's economy, its geopolitical relationships, and the impact of historical events is crucial for gaining insight into the country's development trajectory.

Population And Age Structure

Population, total: Libya has a population of 6,653,942, which is below the average population of 40,097,746. Libya ranks 106th out of 194 countries included in the data.

Population ages 0-14 (% of total population): The percentage of population ages 0-14 in Libya is 29.40%, slightly higher than the average of 27.34%. Libya ranks 78th out of 194 countries.

Population ages 0-14, total: The total population aged 0-14 in Libya is 1,956,248, which is significantly below the average of 10,327,380. Libya ranks 97th out of 194 countries.

Population ages 15-64 (% of total population): Libya has 65.80% of its population aged 15-64, slightly higher than the average of 63.44%. Libya ranks 72nd out of 194 countries.

Population ages 15-64, total: The total population aged 15-64 in Libya is 4,377,972, well below the average of 26,003,407. Libya ranks 105th out of 194 countries.

Population ages 65 and above (% of total population): The percentage of population ages 65 and above in Libya is 4.81%, below the average of 9.22%. Libya ranks 123rd out of 194 countries.

Population ages 65 and above, total: The total population aged 65 and above in Libya is 319,722, significantly below the average of 3,766,959. Libya ranks 120th out of 194 countries.

Summary

Libya's population of 6,653,942 is below the global average, with a higher percentage of youths (ages 0-14) and lower percentage of elderly (ages 65 and above) compared to the average. The working-age population (ages 15-64) is slightly higher than average but still below the global norm. These demographic indicators are crucial for policymakers and investors as they can influence workforce productivity, healthcare needs, and future dependency ratios in the country.

Population Miscellaneous

Analysis of Key Stats for Libya:

1. Rural population: With a value of 1,284,810, Libya's rural population is significantly below the average of 18,044,041 (rank 118 out of 190 countries).

2. Rural population (% of total population): At 19.309%, Libya's rural population percentage is well below the average of 41.158% (rank 148 out of 190 countries).

3. Urban population: Libya's urban population of 5,369,132 is notably lower than the average of 22,425,747 (rank 88 out of 194 countries).

4. Urban population (% of total population): The urban population percentage in Libya is 80.691%, which is above the average of 59.690% (rank 47 out of 194 countries).

5. Age dependency ratio (% of working-age population): With a value of 51.987%, Libya's age dependency ratio is slightly below the average of 59.219% (rank 123 out of 194 countries).

6. Birth rate, crude (per 1,000 people): Libya's crude birth rate stands at 18.302, slightly below the average of 19.384 (rank 86 out of 192 countries).

7. Death rate, crude (per 1,000 people): At 5.598, Libya's crude death rate is lower than the average of 8.214 (rank 165 out of 192 countries).

8. Fertility rate, total (births per woman): The total fertility rate in Libya is 2.507, just under the average of 2.603 (rank 76 out of 190 countries).

Summary

Libya has a significantly lower rural population and a higher urban population compared to global averages. The country also exhibits a lower age dependency ratio, indicating a potential demographic advantage. Moreover, Libya's fertility and death rates are favorable, reflecting stable population growth. These statistics are important as they provide insights into Libya's demographic structure, urbanization trends, and potential economic development opportunities.

Natural Resources

Libya's forest area is significantly below the global average, with a value of 2170 sq. km compared to the average of 211606. Libya ranks 152 out of 191 countries in this attribute.

The land area of Libya is well above the global average, standing at 1759540 sq. km in contrast to the average of 665166. Libya is ranked 16 out of 194 countries in this attribute.

Libya's surface area is also notably higher than the average, with 1759540 sq. km compared to the average of 689779. Libya holds the same rank of 16 out of 194 countries in this attribute.

In terms of arable land, Libya falls below the global average substantially, with 1720000 hectares while the average is at 7329543 hectares. Libya ranks 87 out of 190 countries in this attribute.

Land under cereal production in Libya is also below the average by a significant margin, with 313169 hectares as opposed to the average of 4206011. Libya ranks 112 out of 174 countries in this category.

Libya's average precipitation depth is far less than the global average, with 56 mm per year compared to 1157. Libya ranks 177 out of 178 countries in this attribute.

When considering renewable internal freshwater resources, Libya's total of 0.7 billion cubic meters is considerably below the average of 240.41. Libya ranks 160 out of 178 countries in this attribute.

Summary

Libya exhibits below-average statistics in various key macroeconomic indicators including forest area, arable land, land under cereal production, average precipitation depth, and renewable internal freshwater resources. These indicators are crucial as they reflect Libya's environmental sustainability, agricultural productivity, and potential water scarcity issues. The rankings highlight areas where Libya may need to focus on improvement to enhance its natural resource management and resilience against environmental challenges.

Resource Rents

Total natural resources rents (% of GDP): Libya's value of 11.48% is significantly above the average of 4.63%. With a rank of 28 out of 175 countries, Libya exhibits a strong reliance on natural resource rents compared to other nations.

Forest rents (% of GDP): Libya's value of 0.07% is well below the average of 1.53%. Ranked 125 out of 174 countries, Libya does not heavily rely on forest rents compared to the global average.

Oil rents (% of GDP): Libya's value of 9.24% is substantially above the average of 2.51%. With a rank of 13 out of 117 countries, Libya demonstrates a significant dependency on oil rents relative to other nations.

Natural gas rents (% of GDP): Libya's value of 2.17% is higher than the average of 1.25%. Ranked 12 out of 96 countries, Libya has a notable reliance on natural gas rents compared to the average across the dataset.

Summary

Libya exhibits a strong reliance on natural resource rents, particularly oil rents which are significantly above the global average. This heavy dependency on natural resources, while providing economic benefits, also poses risks due to the volatility of commodity prices and potential challenges in diversifying the economy beyond these sectors.

Commodities

1. Cereal production (metric tons): Libya's cereal production is 209,411 metric tons. This value is significantly below the average cereal production of 17,249,945.92 metric tons, placing Libya at rank 133 out of 174 countries in terms of cereal production.

2. Aquaculture production (metric tons): Libya's aquaculture production is 10 metric tons, notably lower than the average of 679,642.92 metric tons. Libya ranks 169 out of 180 countries in aquaculture production.

3. Capture fisheries production (metric tons): Libya's capture fisheries production is 31,803.55 metric tons, which is lower than the average of 467,453.06 metric tons. Libya ranks 108 out of 190 countries in capture fisheries production.

4. Total fisheries production (metric tons): Libya's total fisheries production is 31,813.55 metric tons, below the average of 1,153,914.85 metric tons. Libya ranks 113 out of 182 countries in total fisheries production.

5. Fertilizer consumption (kilograms per hectare of arable land): Libya's fertilizer consumption is 18.48 kilograms per hectare of arable land, which is lower than the average of 159.04 kilograms per hectare. Libya ranks 146 out of 187 countries in fertilizer consumption.

Summary

Libya's macroeconomic indicators in key sectors such as cereal production, aquaculture production, capture fisheries production, total fisheries production, and fertilizer consumption all fall below global averages, placing the country at lower rankings compared to other nations. These statistics highlight Libya's relative underperformance and potential challenges in achieving self-sufficiency in food production and agricultural sustainability. Addressing these gaps is crucial for Libya's economic development, food security, and overall competitiveness in the international market.

Intellectual Property

Libya's Scientific and technical journal articles value is 247.41, which is below the attribute average of 15103.76. Libya is ranked 112 out of 192 countries for this attribute.

Summary

Libya's low value of 247.41 for Scientific and technical journal articles indicates a relatively lower focus on research and innovation compared to the global average of 15103.76. This ranking at 112 out of 192 countries highlights the need for Libya to invest more in scientific research and technology to enhance its competitiveness and contribute to long-term economic growth and development.

Broad Economy Attributes

The GDP of Libya is $46,808,208,746.08, which is below the average GDP of $442,870,224,838.68. Libya ranks 85th out of 189 countries in this attribute.

Libya's GDP PPP is $109,763,362,164.03, significantly lower than the average GDP PPP of $734,141,122,350.78. Libya holds the 84th position out of 181 countries in this aspect.

The GDP per capita of Libya is $7,034.66, indicating a value well below the average GDP per capita of $15,462.11. Libya ranks 82nd out of 190 countries in GDP per capita.

Libya's GDP per capita PPP stands at $16,495.99, falling short of the average GDP per capita PPP of $21,251.89. The country ranks 73rd among 181 nations.

Libya's GNI is $47,646,494,861.70, below the average GNI of $452,040,815,370.70. In this regard, Libya is ranked 82nd out of 185 countries.

The GNI PPP of Libya is $111,729,109,304.77, significantly lower than the average GNI PPP of $730,698,223,823.47. Libya holds the 83rd position out of 181 countries in GNI PPP.

In terms of GNI per capita PPP, Libya's value of $16,790 is below the average of $20,615.75. The country is ranked 74th out of 181 nations in GNI per capita PPP.

Summary

Libya's macroeconomic indicators, including GDP, GDP PPP, GDP per capita, GNI, GNI PPP, and GNI per capita PPP, consistently show that the country lags behind global averages and ranks relatively low among nations. These statistics suggest that Libya may face economic challenges in terms of productivity, income distribution, and overall economic development. Addressing these disparities is crucial for Libya to improve its socioeconomic conditions, attract investments, and enhance the standard of living for its population.

Broad Value Added

Libya's Gross value added at basic prices (GVA) is $50,358,376,729.93, ranking 74th out of 176 countries. This is below the attribute average of $360,070,943,595.12.

With Agriculture, forestry, and fishing value added at only 3.59% of GDP, Libya ranks 122nd out of 182 countries. This is below the attribute average of 10.86%.

Libya's Agriculture, forestry, and fishing value added in current US dollars is $1,682,222,255.17, ranking 113th out of 182 countries. This falls below the attribute average of $19,924,732,828.07.

Services value added in Libya accounts for 93.63% of GDP, ranking 1st out of 183 countries. This is above the attribute average of 56.72%.

Libya's Services value added in current US dollars amounts to $43,825,756,837.93, ranking 67th out of 183 countries. This figure is below the attribute average of $295,837,711,130.69.

Industry (including construction) value added in current US dollars for Libya is $4,850,397,636.84, placing it 110th out of 183 countries. This is below the attribute average of $118,421,095,413.50.

Summary

Libya's economy heavily relies on the services sector, as indicated by the high percentage of GDP attributed to services and the relatively lower contributions from agriculture and industry. The country's low rankings in agriculture and industry value added highlight potential areas for development and diversification to reduce dependency on the services sector. Addressing the underperformance in agriculture and industry could lead to a more balanced and resilient economy in Libya.

Manufacturing Value Added

Libya's Medium and high-tech manufacturing value added accounts for 16.06% of its manufacturing value added, below the attribute average of 24.49%. This places Libya at a rank of 95 out of 149 countries in the dataset.

Summary

Libya's medium and high-tech manufacturing value added represents 16.06% of its total manufacturing value added, falling below the global average of 24.49%. This places Libya at the 95th position out of 149 countries examined. This data is crucial as it indicates Libya's level of technological advancement and competitiveness in the global market, highlighting areas that may need improvement to enhance economic growth and sustainability.

Money

1. Inflation, consumer prices (annual %): Libya's inflation rate is 1.45%, below the average of 8.26%. This places Libya at rank 97 out of 165 countries in the dataset.

2. Inflation, GDP deflator (annual %): Libya has a negative inflation rate of -4.40%, significantly below the average of 6.90%. This ranks Libya at 171 out of 188 countries.

3. Broad money growth (annual %): Libya's broad money growth is 15.18%, slightly below the average of 18.03%. In this metric, Libya is ranked 62 out of 139 countries.

4. Broad money (% of GDP): Libya's broad money as a percentage of GDP is 197.59%, much higher than the average of 71.75%. This places Libya at rank 3 out of 139 countries.

5. Broad money to total reserves ratio: Libya's ratio is 1.16, below the average of 5.17. Libya ranks 120 out of 126 countries in this aspect.

Summary

Libya has a relatively low inflation rate compared to the global average, ranking 97th out of 165 countries in consumer price inflation and 171st out of 188 in GDP deflator inflation. Despite this, Libya shows strong broad money indicators, with broad money growth slightly below average but broad money as a percentage of GDP ranking 3rd out of 139 countries. The low ratio of broad money to total reserves, ranking 120th out of 126, suggests a potential vulnerability to external economic shocks.

These findings are important as they indicate Libya's monetary policy effectiveness and its vulnerability to economic crises. The high broad money to GDP ratio could signal potential inflationary pressures, while the low reserves ratio suggests a limited buffer against external shocks, highlighting the need for prudent financial management and policy interventions to maintain economic stability.

Consumption Expenditure

Final consumption expenditure (current US$): Libya's final consumption expenditure is $56,938,069,401.01, which is significantly below the average of $381,630,252,515.38. Libya ranks 66 out of 159 countries in this attribute.

Final consumption expenditure (% of GDP): Libya's final consumption expenditure as a percentage of GDP is 121.64%, well above the average of 82.37%. Libya ranks 5 out of 159 countries in this attribute.

General government final consumption expenditure (current US$): Libya's government final consumption expenditure is $28,631,060,622.69, below the average of $93,676,578,238.03. Libya ranks 54 out of 158 countries in this attribute.

General government final consumption expenditure (% of GDP): Libya's government final consumption expenditure as a percentage of GDP is 61.17%, significantly above the average of 18.71%. Libya ranks 3 out of 158 countries in this attribute.

Household and NPISHs Final consumption expenditure (current US$): Libya's household and NPISHs expenditure is $28,307,008,778.32, much below the average of $290,127,571,157.69. Libya ranks 81 out of 158 countries in this attribute.

Households and NPISHs final consumption expenditure (% of GDP): Libya's household and NPISHs expenditure as a percentage of GDP is 60.47%, slightly below the average of 63.68%. Libya ranks 88 out of 158 countries in this attribute.

Summary

Libya exhibits lower final consumption expenditure figures in both total and governmental categories compared to the global average, ranking moderately in these areas. However, the country's final consumption expenditure as a percentage of GDP, especially in government expenditure, surpasses the average by a significant margin, indicating a high level of government involvement in the economy. These statistics are crucial as they reflect Libya's economic structure, indicating potential disparities in wealth distribution, government role in economic activities, and overall economic stability.

Investment

1. Foreign direct investment, net (BoP, current US$): Libya received $350.4 million in foreign direct investment, ranking 29th out of 169 countries. This is above the average FDI of -$1.62 billion.

2. Foreign direct investment, net outflows (BoP, current US$): Libya had outflows of $350.4 million, ranking 57th out of 156 countries. The outflows are below the average of $5.71 billion.

3. Foreign direct investment, net outflows (% of GDP): Libya's outflows were 0.75% of GDP, ranking 41st out of 155 countries. This is below the average percentage of 1.00%.

4. Portfolio Investment, net (BoP, current US$): Libya experienced a net portfolio investment of -$175.7 million, ranking 107th out of 159 countries. This falls below the average of $679.56 million.

Summary

Libya attracted $350.4 million in foreign direct investment, ranking 29th globally, while also recording outflows of the same amount, ranking 57th. Despite this, the outflows as a percentage of GDP were relatively low at 0.75%, ranking 41st. On the portfolio investment front, the country experienced a net outflow of -$175.7 million, ranking 107th. These indicators are crucial as they reflect Libya's attractiveness for foreign investors, its investment behavior abroad, and the impact on its GDP from capital movements, all of which are vital for understanding the country's economic relationships and development trajectory.

Broad Trade Attributes

For Merchandise trade (% of GDP), Libya's value is 47.48%, below the average of 60.01%. This places Libya at rank 109 out of 186 countries in the dataset.

When it comes to Trade in services (% of GDP), Libya's value is 11.56%, significantly below the average of 24.63%. Libya is ranked 111 out of 171 countries for this indicator.

Summary

Libya's merchandise trade as a percentage of GDP is below the global average, ranking 109 out of 186 countries, indicating potential limitations in its trade activities. Similarly, the country's trade in services as a percentage of GDP is also notably lower than the average, ranking 111 out of 171 countries, signaling potential challenges in diversifying its service sector. These indicators are crucial as they reflect Libya's integration in the global economy, highlighting areas where the country may need to focus on improving competitiveness and enhancing economic diversification to stimulate growth and development.

Net Trade

1. Current account balance (BoP, current US$): Libya's current account balance is -4780200000, which is significantly below the average of 1443864831. Libya ranks 150 out of 170 countries in this attribute.

2. Current account balance (% of GDP): Libya's current account balance as a percentage of GDP is -10.21%, well below the average of -2.36%. Libya ranks 143 out of 170 countries in this attribute.

3. Net trade in goods and services (BoP, current US$): Libya's net trade in goods and services stands at -4797200000, much lower than the average of 2604730003. Libya ranks 143 out of 171 countries.

4. Net primary income (BoP, current US$): Libya's net primary income is 837500000, higher than the average of -903807529. Libya ranks 23 out of 170 countries.

5. Net secondary income (BoP, current US$): Libya's net secondary income is -820500000, below the average of -269227340. Libya ranks 142 out of 170 countries.

6. Net trade in goods (BoP, current US$): Libya's net trade in goods is 163500000, below the average of 1302831005. Libya ranks 66 out of 171 countries.

7. Net financial account (BoP, current US$): Libya's net financial account is -3192900000, below the average of -469840994. Libya ranks 142 out of 170 countries.

Summary

Libya exhibits a consistently negative current account balance across various metrics, ranking poorly compared to global averages. The country also faces challenges in net trade, both in goods and services, as well as in its financial account. Despite a relatively higher net primary income, the overall economic indicators reflect a significant imbalance in Libya's external economic relations, highlighting vulnerabilities and potential risks for its economic stability and development.

Broad Export Attributes

1. The "Exports of goods, services and primary income (BoP, current US$)" for Libya amount to $10,711,600,000. This is below the average of $14,623,890,936.29. Libya is ranked 89th out of 170 countries for this attribute.

2. Libya's "Exports of goods and services (BoP, current US$)" stand at $9,537,100,000, also below the average of $122,938,540,059.78. The country holds the 89th rank out of 170 countries for this indicator.

3. For "Goods exports (BoP, current US$)", Libya's value is $9,311,500,000, again falling below the average of $93,310,581,697.39. In this category, Libya ranks 84th out of 171 countries.

Summary

Libya's exports in various categories such as goods, services, and primary income are below the global average, ranking consistently around 89th out of 170-171 countries. These indicators suggest that Libya's economy is facing challenges in terms of trade competitiveness and diversification, which could impact its overall economic growth and stability.

Merchandise Exports

Merchandise exports (current US$): Libya's merchandise exports amount to $9,312,000,000, which is below the average of $89,542,711,229.95. This places Libya at rank 86 out of 187 countries in the dataset.

Summary

Libya's merchandise exports amount to $9.31 billion, significantly below the global average of $89.54 billion. This places Libya at rank 86 out of 187 countries in the dataset. The low level of merchandise exports indicates a potential lack of diversity in Libya's economy and a reliance on other sources of revenue, which can make the country vulnerable to external economic shocks and instability.

Technology Exports

Libya's Medium and high-tech exports (% manufactured exports) stand at 6.34%, significantly below the average of 34.29%. This places Libya at a rank of 131 out of 149 countries in this category.

Summary

Libya's Medium and high-tech exports (% manufactured exports) at 6.34% are notably lower than the global average of 34.29%, positioning the country at 131st out of 149 nations in this metric. This indicates a potential lack of diversification in Libya's industrial sector, hindering its competitiveness in the global market and potentially impacting its overall economic growth and resilience.

Service Exports

Service exports (BoP, current US$): Libya's service exports amount to $225.6 million, which is significantly below the average of $28.9 billion. Libya ranks 141 out of 171 countries in this dataset.

ICT service exports (BoP, current US$): Libya's ICT service exports stand at $38.3 million, well below the average of $4.6 billion. The country is ranked 113 out of 166 countries.

ICT service exports (% of service exports, BoP): Libya's ICT service exports account for 16.98% of its total service exports, surpassing the average of 11.75%. Libya is ranked 36 out of 166 countries.

Communications, computer, etc. (% of service exports, BoP): Libya's percentage of service exports in communications, computer, etc. is 28.10%, lower than the average of 45.85%. The country ranks 124 out of 169 countries.

Transport services (% of service exports, BoP): Libya's transport services contribute to 28.59% of its service exports, above the average of 21.80%. Libya ranks 50 out of 169 countries.

Travel services (% of service exports, BoP): Libya's travel services make up 12.54% of its service exports, significantly lower than the average of 26.40%. The country is ranked 112 out of 167 countries.

Insurance and financial services (% of service exports, BoP): Libya's insurance and financial services constitute 30.76% of its service exports, a substantial difference from the average of 6.46%. Libya is ranked 4 out of 161 countries in this aspect.

Summary

Libya's service exports, including ICT services, communications, computer, transport, travel, and insurance/financial services, demonstrate a mixed performance compared to global averages. While Libya excels in the percentage of ICT service exports and insurance/financial services, it falls short in the overall value of service exports and in areas such as communications and travel services. These indicators are crucial as they highlight Libya's strengths and weaknesses in the service sector, pointing to areas for potential improvement and growth in the country's economy.

Commercial Service Exports

Summary

Libya's macroeconomic indicators reveal a concerning trend in its commercial service exports - the country lags significantly in overall export value compared to the average. Specifically, Libya heavily relies on insurance and financial services in its export composition, which is well above the global average. This reliance on a single sector could indicate vulnerability to external economic shocks and may hinder diversification efforts essential for sustained growth and resilience.

Broad Import Attributes

For Goods imports (BoP, current US$), Libya has a value of 9.15 billion. This is significantly below the average of approximately 92.01 billion. Libya ranks 90th out of 171 countries for this attribute.

Regarding Imports of goods and services (BoP, current US$), Libya records a value of 14.33 billion, again notably lower than the average of around 120.32 billion. Libya's rank is 88th out of 170 countries in this category.

In the context of Imports of goods, services and primary income (BoP, current US$), Libya's value of 14.67 billion is below the average of roughly 144.51 billion. The country holds the 90th rank out of 170 countries for this particular attribute.

Summary

Libya's import figures across different categories, such as Goods imports, Imports of goods and services, and Imports of goods, services, and primary income, are all significantly below the global averages. These low import values indicate potential challenges in terms of accessing a wide variety of goods, services, and income sources from the international market, which could impact the country's economic diversity, competitiveness, and overall development.

Merchandise Imports

Libya's Merchandise imports amount to $12,912,000,000, ranking 83rd out of 190 countries. This is significantly below the average of $89,385,605,263. Libya's Merchandise imports by the reporting economy, residual (% of total merchandise imports) is 0.19%, which is below the average of 2.51%. Libya ranks 109th out of 180 countries in this category.

Summary

Libya's merchandise imports of $12,912,000,000 rank 83rd globally, well below the average of $89,385,605,263. Additionally, Libya's merchandise imports by the reporting economy, residual (% of total merchandise imports) at 0.19% position it 109th globally, significantly lower than the average of 2.51%. These statistics suggest that Libya has a relatively low level of international trade activity compared to the global average, indicating potential limitations in its economic diversification and integration with the global economy.

Service Imports

Analysis for Libya:

1. Service imports (BoP, current US$): Libya's service imports amount to $5,186,300,000, which is below the average of $27,615,356,170.47. Libya ranks 71 out of 171 countries in this attribute.

2. Communications, computer, etc. (% of service imports, BoP): Libya's percentage is 38.04%, lower than the average of 44.40%. The country ranks 106 out of 169.

3. Transport services (% of service imports, BoP): Libya's percentage stands at 28.66%, below the average of 32.90%. Libya ranks 88 out of 169 countries.

4. Travel services (% of service imports, BoP): Libya's percentage is 16.11%, above the average of 14.14%. The country ranks 50 out of 169 countries.

5. Insurance and financial services (% of service imports, BoP): Libya's percentage is 17.19%, significantly higher than the average of 8.53%. Libya ranks 18 out of 169 countries.

Summary

In summary, Libya's service imports are significantly below the global average, with a notable emphasis on insurance and financial services rather than communications and transport. This suggests a relatively higher reliance on financial activities over other service sectors in the country's economy. Understanding these proportions is crucial for assessing Libya's economic focus and potential vulnerabilities in international trade.

Commercial Service Imports

1. Commercial service imports (current US$): Libya's commercial service imports amount to $3,257,600,000. This value is significantly below the attribute average of $27,102,746,128.60. Libya ranks 79th out of 171 countries in this category.

2. Computer, communications and other services (% of commercial service imports): Libya's percentage of spending on computer, communications, and other services in relation to commercial service imports is 1.36%. This is well below the attribute average of 41.71%. Libya ranks 169th out of 169 countries.

3. Insurance and financial services (% of commercial service imports): Libya allocates 27.36% of its commercial service imports to insurance and financial services, surpassing the attribute average of 8.85%. This places Libya in the 5th rank out of 169 countries.

4. Transport services (% of commercial service imports): Libya dedicates 45.63% of its commercial service imports to transport services, which is higher than the attribute average of 34.71%. Libya ranks 43rd out of 169 countries in this aspect.

5. Travel services (% of commercial service imports): Libya allocates 25.65% of its commercial service imports to travel services, exceeding the attribute average of 14.73%. In this category, Libya ranks 25th out of 169 countries.

Summary

Libya stands out for its low total commercial service imports compared to the global average, ranking 79th globally. The country's spending on computer, communications, and other services is notably minimal, placing it at the bottom in this aspect. However, Libya excels in allocating a significant portion of its commercial service imports to insurance and financial services, as well as transport and travel services, surpassing the global averages in these areas. These findings are crucial as they reveal Libya's priorities in economic sectors, highlighting its focus on insurance, financial services, transport, and travel to drive economic growth and development.

Infrastructure

Libya's air transport freight stands at 0.62 million ton-km, significantly below the average of 1384.37 million ton-km, ranking 108 out of 126 countries in the dataset. The country's registered carrier departures globally amount to 6032.24, also below the average of 134365.61, ranking 99 out of 149 countries. Moreover, Libya's passengers carried by air amount to 715300.42, below the average of 11848242.70 passengers, ranking 82 out of 149 countries.

Summary

Libya's air transport indicators, including air freight, registered carrier departures, and passengers carried by air, are all well below global averages and rank low compared to other countries. This suggests a relatively underdeveloped air transport sector in Libya, which could hinder economic growth and international connectivity. Improving these indicators could enhance trade, tourism, and overall economic development in the country.

Information Technology Infrastructure

Libya has 5,093 Secure Internet servers, which is below the attribute average of 458,294.19 servers per country. Libya ranks 83 out of 193 countries in this data.

For Secure Internet servers per 1 million people, Libya has 765.41 servers, significantly lower than the average of 14,067.17 per million. Libya is ranked 85 out of 193 countries.

With 332,000 Fixed broadband subscriptions, Libya falls short of the average of 6,591,956.35 subscriptions per country. Libya ranks 100 out of 185 countries in this aspect.

Having 11,624,000 Mobile cellular subscriptions, Libya again lags behind the average of 42,526,463.87 subscriptions per country. The country holds the 79th rank out of 193 countries included in the data.

Summary

Libya falls below the global average in terms of Secure Internet servers, Secure Internet servers per 1 million people, Fixed broadband subscriptions, and Mobile cellular subscriptions. These statistics indicate a significant digital divide compared to the global average, which could hinder economic development, access to information, and communication capabilities for individuals and businesses in Libya.

Energy Consumption

Libya's renewable energy consumption accounts for 3.12% of its total final energy consumption, significantly below the average of 32.18%. This places Libya at rank 166 out of 191 countries in the dataset for this attribute.

When it comes to CO2 emissions, Libya emits 44,467 kt, well below the average of 171,895.94 kt. This positions Libya at a respectable rank of 57 out of 188 countries included in the data for this statistic.

Summary

Libya lags behind in renewable energy consumption, accounting for only 3.12% of its total energy consumption, far below the global average of 32.18%. This places Libya at a low rank of 166 out of 191 countries. However, Libya performs well in CO2 emissions, emitting only 44,467 kt, well below the global average. This positions the country at a commendable rank of 57 out of 188 countries. These statistics are crucial as they highlight Libya's dependence on non-renewable energy sources and its relatively low contribution to global carbon emissions, indicating both potential for growth in sustainable practices and current positive environmental impact.

Government Balance Sheet

Libya's Reserves and related items amount to -8013257365.69 USD, significantly below the average of 1924407186.58 USD. This places Libya at rank 163 out of 171 countries in the dataset.

For Total reserves minus gold, Libya holds 72564803064.89 USD, slightly below the average of 74221588171.61 USD. Libya ranks 26 out of 161 countries.

Libya's Total reserves (includes gold) stand at 79656428064.89 USD, lower than the average of 85708019773.47 USD. The country ranks 28 out of 161 nations.

In terms of Total reserves in months of imports, Libya's value is 65.15 months, significantly higher than the average of 7.10 months. This ranks Libya 1st out of 151 countries.

Summary

Libya's reserves and related items are notably below the average for countries in the dataset, ranking 163rd out of 171. However, the country's total reserves, excluding gold, are just below the average, placing Libya 26th out of 161. Despite lower total reserves including gold, Libya ranks 28th out of 161 nations. Particularly significant is Libya's total reserves in months of imports, standing at 65.15 months, far exceeding the average of 7.10 months and securing the country the top rank out of 151 nations. These indicators are crucial as they reflect Libya's ability to navigate economic challenges, ensure financial stability, and sustain international trade obligations.

Taxes

1. Libya's applied tariff rate for all products is 4.54%, which is lower than the attribute average of 5.21%. This places Libya at rank 67 out of 153 countries in the dataset.

Summary

Libya's applied tariff rate for all products is 4.54%, below the global average of 5.21%. This indicates that Libya has a relatively competitive trade environment compared to many countries, positioning it at 67 out of 153 countries in the dataset. A lower applied tariff rate can attract foreign investments, promote international trade, and potentially boost economic growth by reducing barriers to trade and encouraging market openness.

Top Stats

Ranks in Top Decile For:

Attribute	Rank/Total
Land area (sq. km)	16/194
Surface area (sq. km)	16/194
Services, value added (% of GDP)	1/183
Broad money (% of GDP)	3/139
Final consumption expenditure (% of GDP)	5/159
General government final consumption expenditure (% of GDP)	3/158
Insurance and financial services (% of service exports, BoP)	4/161
Insurance and financial services (% of commercial service exports)	5/161
Insurance and financial services (% of commercial service imports)	5/169
Total reserves in months of imports	1/151

Ranks in Bottom Decile For:

Attribute	Rank/Total
Average precipitation in depth (mm per year)	177/178
Aquaculture production (metric tons)	169/180
Inflation, GDP deflator (annual %)	171/188
Broad money to total reserves ratio	120/126
Computer, communications and other services (% of commercial service imports)	169/169
Reserves and related items (BoP, current US$)	163/171