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Libya

 
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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

 

Libya - TABLE OF CONTENTS

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