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Gross Domestic Product (GDP): Libya's GDP has been highly dependent on its oil sector. In 2019, before the COVID-19 pandemic and ongoing conflict, Libya's GDP was estimated at around 49.2 billion USD (World Bank data).
GDP Growth Rate: The GDP growth rate in Libya has been volatile in recent years due to conflicts and disruptions. In 2019, it was negative.
GDP per Capita: In 2019, Libya's GDP per capita was approximately 7,334 USD (World Bank data).
Key Sector - Oil: Libya has significant oil reserves and has historically relied heavily on oil exports for revenue. Oil production and exports have been disrupted due to conflict and instability.
Unemployment: High unemployment rates have been a persistent challenge in Libya, exacerbated by economic disruptions and conflict.
Inflation: Inflation has fluctuated due to various economic factors but was relatively high before the COVID-19 pandemic and conflict.
Currency: The currency of Libya is the Libyan Dinar (LYD).
Challenges: Libya's economy has faced multiple challenges, including political instability, conflict, disruptions in oil production and exports, a lack of economic diversification, and high levels of corruption.
International Sanctions: International sanctions have impacted Libya's ability to access global financial markets and trade.
Humanitarian Issues: The ongoing conflict and instability have had severe humanitarian consequences, including the displacement of people and disruptions in basic services.
Ten Top Companies in Libya
National Oil Corporation (NOC): The National Oil Corporation is Libya's state-owned oil company responsible for the exploration, production, and export of petroleum and natural gas.
General Electricity Company of Libya (GECOL): GECOL is responsible for the generation, transmission, and distribution of electricity in Libya.
Libyan Post, Telecommunication and Information Technology Company (LPTIC): LPTIC oversees postal services, telecommunications, and information technology in Libya.
Libyan Iron and Steel Company (LISCO): LISCO is involved in the production of iron and steel products in Libya.
Arab Banking Corporation (ABC): ABC is a prominent banking institution in Libya, providing financial services to individuals and businesses.
Bahr Essalam Consortium: This consortium includes Eni, Total, and NOC and is involved in natural gas exploration and production in the Bahr Essalam offshore field.
Jamahiriya News Agency (JANA): JANA is Libya's state news agency, responsible for disseminating news and information.
Libyan Investment Authority (LIA): LIA is responsible for managing Libya's sovereign wealth fund and investments abroad.
Al-Naseem Foods Company: This company is involved in the food and beverage industry in Libya, producing a range of products.
Al-Madar Al-Jadid Telecom Company: Al-Madar is a telecommunications company in Libya, providing mobile and data services.
Ten Top Banks in Libya
Central Bank of Libya (CBL):
The Central Bank of Libya is the country's central bank responsible for monetary policy, currency issuance, and regulating the banking sector.
Commercial Bank of Libya (CBL):
The Commercial Bank of Libya is one of the largest commercial banks in Libya, providing various banking services.
National Commercial Bank (NCB):
NCB is a prominent Libyan bank that offers retail and commercial banking services.
Sahara Bank (Sahara Bank for Investment and Financial Services):
Sahara Bank is a financial institution in Libya, offering banking and financial services.
Arab Bank for Economic Development in Africa (BADEA):
BADEA is an Arab financial institution that supports economic development projects in Africa, including Libya.
Aman Bank for Commerce and Investment:
Aman Bank is a Libyan bank providing various banking services.
Libyan Foreign Bank (LFB):
Libyan Foreign Bank primarily focuses on international banking and financial services.
Jumhouria Bank (Bank of the Republic):
Jumhouria Bank is one of Libya's state-owned banks, offering banking services.
Wahda Bank provides a range of financial services in Libya.
Agricultural Bank of Libya:
The Agricultural Bank of Libya is involved in providing financial services to the agricultural sector in the country.
Top Company Listings in Libya Business Directory
Office of Libya Villas
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