Libya holds Africa's largest proven oil reserves (48.4 billion barrels) and is a major OPEC producer. The economy is almost entirely dependent on hydrocarbons, which account for over 95% of export revenues. The National Oil Corporation (NOC) oversees production through joint ventures with international companies including ENI, TotalEnergies, and Repsol.
Political instability since 2011 has severely impacted economic development, with rival governments and periodic disruptions to oil production. Infrastructure and banking systems remain functional but strained. The country has a high GDP per capita by African standards due to oil wealth and a relatively small population (7 million).
Libya's strategic location on the Mediterranean, massive energy reserves, and infrastructure reconstruction needs represent significant opportunities for companies with appropriate risk appetite. The business environment remains highly challenging due to political uncertainty, security risks, and weak institutional frameworks.
Snapshot
World Bank Indicators Compare with another country
Climate Readiness Full ranking
How this is computed
Adaptive capacity to absorb climate finance and adapt, following the readiness dimension of the ND-GAIN framework, from measured indicators only. It is not a measure of emissions or physical climate vulnerability.
- Energy access (30%): World Bank, access to electricity (% of population). The single most climate and energy specific signal held: SDG 7 and the clean-energy transition.
- Governance readiness (20%): Transparency International, Corruption Perceptions Index (0-100). ND-GAIN governance readiness: the capacity to govern and deploy climate finance. Higher is cleaner.
- Human readiness (20%): UNDP, Human Development Index (0-1). ND-GAIN social readiness: the adaptive capacity of the population.
- Economic readiness (15%): World Bank, GDP per capita (current US$), latest measured year. ND-GAIN economic readiness: the capacity to finance adaptation. Scored relative to the covered set.
- Digital readiness (15%): World Bank, individuals using the Internet (% of population). Information systems for early warning and adaptation.
A country is scored only when at least 4 of the five indicators are held. Sub-scores are weighted and renormalised over the indicators that are present; nothing is estimated for one that is absent.
Country Facts
Focus Sectors
Trade
Exports $30.49B (2024)
0.9% to other African countries
Top export partners
Top export products (HS 4)
By HS chapter
Imports $20.89B (2024)
14.0% from other African countries
Top import partners
Top import products (HS 4)
By HS chapter
Source: CEPII BACI (version 202601, updated 22 Jan 2026), Etalab 2.0 (licence). Goods only, HS 2022, current USD, 2024. Aggregated by allbusiness.africa.
Regulations & Taxes
Business Directory (5)
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View AllUNIVERSITY OF TRIPOLI: INTERNATIONAL HIGHER EDUCATION CAPACITY BUILDING : EUNIT - EUROPEAN PROJECT DESIGN AND MANAGEMENT IN THE SOUTH MEDITERRANEAN REGION
Education, Audiovisual and Culture Executive Agency (EACEA)
UNIVERSITY OF ZAWIA: INTERNATIONAL HIGHER EDUCATION CAPACITY BUILDING : EUNIT - EUROPEAN PROJECT DESIGN AND MANAGEMENT IN THE SOUTH MEDITERRANEAN REGION
Education, Audiovisual and Culture Executive Agency (EACEA)
UNIVERSITY OF ZAWIA: INTERNATIONAL HIGHER EDUCATION CAPACITY BUILDING: EURO-AFRICAN NETWORK OF EXCELLENCE FOR ENTREPRENEURSHIP AND INNOVATION
Education, Audiovisual and Culture Executive Agency (EACEA)
MISURATA UNIVERSITY: INTERNATIONAL HIGHER EDUCATION CAPACITY BUILDING : EUNIT - EUROPEAN PROJECT DESIGN AND MANAGEMENT IN THE SOUTH MEDITERRANEAN REGION
Education, Audiovisual and Culture Executive Agency (EACEA)