Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Key economic indicators of Libya - statistics & facts
Economic growth in Libya has been hindered by political instability and conflict in recent years. During the First (2011) and Second Civil War (2015-2020), the Gross Domestic Product (GDP) largely fluctuated reaching a low of 21.13 billion U.S. dollars in 2002. In 2020, while the political and security situation witnessed a relative improvement due to the ceasefire signed in October, the coronavirus (COVID-19) pandemic caused a severe , with the GDP sinking by almost 32 percent compared to 2019. However, the economy began to recover in 2022 and was projected to expand further in the following years.
