Economic Growth in Libya
The economy of Libya recorded an average growth rate of 7.2% in the decade to 2021. In 2021, real GDP growth was 28.3%. For more GDP information, visit our dedicated page.
Libya GDP Chart
Note: This chart displays Economic Growth (GDP, annual variation in %) for Libya from 2013 to 2022.
Source: Macrobond.
Libya GDP Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, ann. var. %) | -11.2 | -29.5 | 28.3 | -8.3 | - |
| GDP (USD bn) | 69.3 | 46.9 | 35.6 | 43.3 | - |
| GDP (LCU bn) | 96.8 | 65.1 | 159.0 | 208.2 | - |
| Economic Growth (Nominal GDP, ann. var. %) | -7.5 | -32.8 | 144.4 | 30.9 | - |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Lybian GDP projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Lybian GDP.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Lybian GDP projections.
Want to get access to the full dataset of Lybian GDP forecasts? Send an email to info@focus-economics.com.