re groups:
various Arab nationalist movements and the Arab Socialist Resurrection
(Ba'th) party with almost negligible memberships may be functioning
clandestinely, as well as some Islamic elements
Member of:
ABEDA, AfDB, AFESD, AL, AMF, AMU, CAEU, CCC, ECA, FAO, G-77, IAEA, IBRD,
ICAO, IDA, IDB, IFAD, IFC, ILO, IMF, IMO, INTELSAT, INTERPOL, IOC, ITU,
LORCS, NAM, OAPEC, OAU, OIC, OPEC, UN, UNCTAD, UNESCO, UNIDO, UPU, WHO,
WIPO, WMO, WTO

:Libya Government

Diplomatic representation:
none
Flag:
plain green; green is the traditional color of Islam (the state religion)

:Libya Economy

Overview:
The socialist-oriented economy depends primarily upon revenues from the oil
sector, which contributes practically all export earnings and about
one-third of GDP. Since 1980, however, the sharp drop in oil prices and the
resulting decline in export revenues have adversely affected economic
development. In 1988 per capita GDP was the highest in Africa at $5,410, but
GDP growth rates have slowed and fluctuate sharply in response to changes in
the world oil market. Import restrictions and inefficient resource
allocations have led to shortages of basic goods and foodstuffs, although
the reopening of the Libyan-Tunisian border in April 1988 and the
Libyan-Egyptian border in December 1989 have somewhat eased shortages.
Austerity budgets and a lack of trained technicians have undermined the
government's ability to implement a number of planned infrastructure
development projects. Windfall revenues from the hike in world oil prices in
late 1990 improved the foreign payments position and resulted in a current
account surplus for the first time in five years. The nonoil manufacturing
and construction sectors, which account for about 22% of GDP, have expanded
from processing mostly agricultural products to include petrochemicals,
iron, steel, and aluminum. Although agriculture accounts for about 5% of
GDP, it employs about 20% of the labor force. Climatic conditions and poor
soils severely limit farm output, and Libya imports about 75% of its food
requirements.
GDP:
exchange rate conversion - $28.9 billion, per capita $6,800; real growth
rate 9% (1990 est.)
Inflation rate (consumer prices):
7% (1991 est.)
Unemployment rate:
2% (1988 est.)
Budget:
revenues $8.1 billion; expenditures $9.8 billion