Libya is located in North Africa and shares borders with Tunisia, Algeria, Niger, Chad, Sudan, Egypt, and the Mediterranean Sea. It has a Mediterranean climate along the coast and a desert climate in the rest of the country. The bulk of the rainfall occurs between November and March. With an area of almost 1,800,000 square kilometers, Libya is the fourth largest country in Africa by area, and the 17th largest in the world.
The population of Libya is 6,294,000 and the population density is 3.7 per sq km. About 80% of the population lives along the Mediterranean coast. Tripoli is the capital, main port, commercial centre and the largest city. It has a population of over one million.
Libya is a major oil producer with the oil sector contributing practically to all export earnings and over one-quarter of GDP. It is also an exporter of natural gas both by LNG and pipeline to Europe exporting about 9.9 billion cubic meters in 2009. The Libyan government plans to significantly increase the country’s natural gas production in order to expand the use of natural gas in the power sector.
The non-oil manufacturing and construction sectors, which account for about 20% of GDP, have expanded from processing mostly agricultural products to include the production of petrochemicals, iron, steel, and aluminium.
|National currency||Libyan Dinar|
|Labor force (inhabitants)||2,523,550|
|GDP (current billion US$)||48.32|
|GDP per capita (current US$)||7,235.03|
|GDP growth (percentage)||7.84|
|Exports of Goods and Services (current billion US$)||29.18|
|Proven natural gas reserves (billion c.m.)||1,505|
|Natural gas marketed production (billion c.m.)||9.04|
|Pipeline exports (billion c.m.)||4.27|
|LNG exports (billion c.m.)||0.00|
|Domestic natural gas consumption (billion c.m.)||4.77|
Source:GECF Annual Statistical Bulletin