Libya: Oil rents (% of GDP)
In , Libya's Oil rents (% of GDP) was 56.38.
That's up 509.9% from 2020, the highest value since .
The global average for this indicator in 2021 was 2.59 . Libya ranks #1 globally out of 190 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #1 of 20.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS) • Data as of 2021
Trend (2002–2021)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2010 · Arab Spring begins
Highlights
- Peak
- 64.82
- Trough
- 9.24
- 1-year change
- +509.9%
- 5-year change
- +422.3%
- +39.2% / yr
- 10-year change
- +55.2%
- +4.5% / yr
Historical Data — Last 10 Years
| Year | Oil rents (% of GDP) |
|---|---|
| 56.3779 | |
| 9.2440 | |
| 32.7516 | |
| 30.0345 | |
| 20.9466 | |
| 10.7931 | |
| 14.4264 | |
| 28.6305 | |
| 45.8016 | |
| 57.6301 |
About Oil rents (% of GDP)
Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Indicator code: NY.GDP.PETR.RT.ZS • Category: Economy
Frequently asked questions
- What was Libya's Oil rents (% of GDP) in 2021?
- In 2021, Libya's Oil rents (% of GDP) was 56.38, according to World Bank Open Data.
- Is Libya's Oil rents (% of GDP) rising or falling?
- Libya's Oil rents (% of GDP) rose 509.9% from 2020 to 2021.
- How does Libya rank globally on Oil rents (% of GDP)?
- In 2021, Libya ranked #1 out of 190 countries reporting Oil rents (% of GDP).
- How does Libya's Oil rents (% of GDP) compare to the world average?
- The global average for Oil rents (% of GDP) in 2021 was 2.59, so Libya is above the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #1 of 20.
- What is Oil rents (% of GDP) and how is it measured?
- Oil rents are the difference between the value of crude oil production at regional prices and total costs of production.
Source: World Bank Open Data (NY.GDP.PETR.RT.ZS), CC BY 4.0.