Libya recorded a Current Account deficit of 0.20 percent of the country's Gross Domestic Product in 2019. source: Central Bank of Lybia

Current Account to GDP in Libya averaged 8.52 percent from 1990 until 2019, reaching an all time high of 55.20 percent in 2006 and a record low of -41.80 percent in 2015. This page provides - Libya Current Account to GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news. Libya Current Account to GDP - values, historical data and charts - was last updated on February of 2021.

Current Account to GDP in Libya is expected to reach -19.80 percent by the end of 2020, according to Trading Economics global macro models and analysts expectations. In the long-term, the Libya Current Account to GDP is projected to trend around -9.00 percent in 2021 and -3.00 percent in 2022, according to our econometric models.

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Libya Current Account to GDP

Actual Previous Highest Lowest Dates Unit Frequency
33.20 10.80 55.20 -41.80 1990 - 2019 percent Yearly

Libya Trade Last Previous Highest Lowest Unit
Balance of Trade 14753.80 21897.10 51089.00 -7687.60 LYD Million [+]
Current Account 5733.10 15389.50 45983.00 -24172.30 LYD Million [+]
Current Account to GDP 33.20 10.80 55.20 -41.80 percent [+]
Imports 24034.10 18815.40 43242.90 2106.00 LYD Million [+]
Exports 38787.90 40712.50 77027.00 2449.00 LYD Million [+]
Capital Flows -4566.60 -3872.80 514.90 -23905.00 LYD Million [+]
Gold Reserves 116.64 116.64 143.82 116.64 Tonnes [+]
Crude Oil Production 1164.00 1215.00 2370.00 7.00 BBL/D/1K [+]
Terrorism Index 6.25 6.77 7.29 0.00 [+]
Foreign Direct Investment -482.50 -376.10 2680.00 -3358.00 LYD Million [+]


Libya Current Account to GDP
The Current account balance as a percent of GDP provides an indication on the level of international competitiveness of a country. Usually, countries recording a strong current account surplus have an economy heavily dependent on exports revenues, with high savings ratings but weak domestic demand. On the other hand, countries recording a current account deficit have strong imports, a low saving rates and high personal consumption rates as a percentage of disposable incomes.