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Libya
ECONOMY
Gross Domestic Product (GDP): In 1986 GDP estimated at $US20
billion, $6,260 per capita. Petroleum contributed almost 40 percent;
public services and administration 12 percent; construction 11
percent; transportation and communication 5 percent; manufacturing
5 percent; and agriculture 4 percent.
Petroleum: In early 1980s, estimated proven reserves were 32
billion barrels, of which 7 billion barrels in offshore areas.
In 1986 production averaged slightly over 1 million barrels per
day, and in 1987 declining. In 1986, Libya world's fifteenth largest
producer of petroleum.
Foreign Trade: In 1986 exports primarily petroleum worth US$5
billion, matched by imports primarily of manufactures and foodstuffs
worth US$5 billion.
Currency: Libyan dinar; in mid-1987 LD1 equaled US$3.16.
Fiscal Year: Same as calendar year (see Glossary).
Data as of 1987
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