Libya: Trade (% of GDP)
In , Libya's Trade (% of GDP) was 128.82.
That's down 19.2% from 2023, the highest value since .
The global average for this indicator in 2024 was 92.19 . Libya ranks #36 globally out of 160 reporting countries. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #4 of 16.
Source: World Bank Open Data (NE.TRD.GNFS.ZS) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
- 2010 · Arab Spring begins
Highlights
- Peak
- 164.28
- Trough
- 41.11
- 1-year change
- -19.2%
- 5-year change
- +63.1%
- +10.3% / yr
- 10-year change
- +68.3%
- +5.3% / yr
Historical Data — Last 10 Years
| Year | Trade (% of GDP) |
|---|---|
| 128.8162 | |
| 159.4338 | |
| 156.3217 | |
| 164.2841 | |
| 50.9758 | |
| 78.9940 | |
| 63.7811 | |
| 47.5490 | |
| 41.1102 | |
| 56.9049 |
About Trade (% of GDP)
Trade is the sum of exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: NE.TRD.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Libya's Trade (% of GDP) in 2024?
- In 2024, Libya's Trade (% of GDP) was 128.82, according to World Bank Open Data.
- Is Libya's Trade (% of GDP) rising or falling?
- Libya's Trade (% of GDP) fell 19.2% from 2023 to 2024.
- How does Libya rank globally on Trade (% of GDP)?
- In 2024, Libya ranked #36 out of 160 countries reporting Trade (% of GDP).
- How does Libya's Trade (% of GDP) compare to the world average?
- The global average for Trade (% of GDP) in 2024 was 92.19, so Libya is above the world average. Within Middle East, North Africa, Afghanistan & Pakistan, it ranks #4 of 16.
- What is Trade (% of GDP) and how is it measured?
- Trade is the sum of exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (NE.TRD.GNFS.ZS), CC BY 4.0.