,
IOC, ISO, ITU, MONUC, NAM, OAPEC, OAU, OIC, OPEC, UN, UNCTAD,
UNESCO, UNIDO, UPU, WFTU, WHO, WIPO, WMO, WToO

Diplomatic representation in the US: Libya does not have an embassy
in the US

Diplomatic representation from the US: the US suspended all embassy
activities in Tripoli on 2 May 1980

Flag description: plain green; green is the traditional color of
Islam (the state religion)

Libya Economy

Economy - overview: The socialist-oriented economy depends primarily
upon revenues from the oil sector, which contributes practically all
export earnings and about one-quarter of GDP. These oil revenues and
a small population give Libya one of the highest per capita GDPs in
Africa, but little of this income flows down to the lower orders of
society. In this statist society, import restrictions and
inefficient resource allocations have led to periodic shortages of
basic goods and foodstuffs. The nonoil manufacturing and
construction sectors, which account for about 20% of GDP, have
expanded from processing mostly agricultural products to include the
production of petrochemicals, iron, steel, and aluminum. Climatic
conditions and poor soils severely limit agricultural output, and
Libya imports about 75% of its food requirements. Higher oil prices
in 1999 and 2000 led to an increase in export revenues, which
improved macroeconomic balances and helped to stimulate the economy.
Following the suspension of UN sanctions in 1999, Libya has been
trying to increase its attractiveness to foreign investors, and
several foreign companies have visited in search of contracts.

GDP: purchasing power parity - $45.4 billion (2000 est.)

GDP - real growth rate: 6.5% (2000 est.)

GDP - per capita: purchasing power parity - $8,900 (2000 est.)

GDP - composition by sector: agriculture: 7%

industry: 47%

services: 46% (1997 est.)

Population below poverty line: NA%

Household income or consumption by percentage share: lowest 10%: NA%

highest 10%: NA%

Inflation rate (consumer prices): 18.5% (2000 est.)

Labor force: 1.5 million (2000 est.)

Labor force - by occupation: services and government 54%, industry
29%, agriculture 17% (1997 est.)

Unemployment rate: 30% (2000 est.)

Budget: revenues: $6.85 billion

expenditures: $4.4 billion, including capital expenditures of $NA
(2000 est.)

Industries: petroleum, food processing, textiles, handicrafts, cement

Industrial production growth rate: NA%

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