Libya recorded a Current Account deficit of 0.20 percent of the country's Gross Domestic Product in 2019.

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 September of 2020.

Current Account to GDP in Libya is expected to reach -6.00 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 -4.00 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
-0.20 1.50 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 -0.20 1.50 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 116.60 116.60 143.82 116.60 Tonnes [+]
Crude Oil Production 106.00 108.00 2370.00 7.00 BBL/D/1K [+]
Terrorism Index 6.77 6.99 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.