Current account balance in Libya
Libya: Current account balance was 4.2% in 2023. ◆ Volatile
Current account balance in Libya, 1977–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Libya recorded 4.2% for current account balance in 2023.
That represents a change of down 80.9% on the previous year and up 33,141.3% over ten years.
Over the whole period, current account balance in Libya peaked at 41.9% in 2007 and was at its lowest, -33.2%, in 2014.
Libya ranks 45th of 199 countries on this measure, in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Libya, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1977 | 9.6% | — |
| 1978 | 3.3% | -65.4% |
| 1979 | 12.3% | +270.4% |
| 1980 | 20.1% | +62.4% |
| 1981 | -10.9% | -154.3% |
| 1982 | -4.6% | -57.6% |
| 1983 | -4.9% | +7.1% |
| 1984 | -4.9% | -0.2% |
| 1985 | 6.0% | -222.4% |
| 1986 | -0.6% | -110.6% |
| 1987 | -3.9% | +503.9% |
| 1988 | -7.5% | +93.6% |
| 1989 | -4.1% | -45.7% |
| 1990 | 7.6% | -286.7% |
| 1991 | -0.7% | -109.0% |
| 1992 | 4.2% | -706.4% |
| 1993 | -4.5% | -207.3% |
| 1994 | 0.1% | -102.1% |
| 1995 | 6.5% | +6992.6% |
| 1996 | 4.4% | -32.2% |
| 1997 | 5.1% | +15.0% |
| 1998 | -0.8% | -115.0% |
| 1999 | 5.9% | -873.6% |
| 2000 | 16.4% | +175.9% |
| 2001 | 9.8% | -40.4% |
| 2002 | 3.4% | -65.3% |
| 2003 | 13.0% | +282.3% |
| 2004 | 13.9% | +7.6% |
| 2005 | 31.6% | +126.6% |
| 2006 | 36.9% | +16.8% |
| 2007 | 41.9% | +13.6% |
| 2008 | 41.2% | -1.7% |
| 2009 | 15.4% | -62.5% |
| 2010 | 22.3% | +44.5% |
| 2011 | 6.6% | -70.3% |
| 2012 | 25.8% | +288.6% |
| 2013 | 0.0% | -100.0% |
| 2014 | -33.2% | -260492.1% |
| 2015 | -19.2% | -42.2% |
| 2016 | -9.4% | -50.9% |
| 2017 | 6.6% | -169.9% |
| 2018 | 14.7% | +123.1% |
| 2019 | 7.0% | -52.7% |
| 2020 | -10.2% | -246.7% |
| 2021 | 16.1% | -258.0% |
| 2022 | 22.2% | +37.9% |
| 2023 | 4.2% | -80.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 8.4% | 3.3% | 12.3% | 3 |
| 1980s | -1.5% | -10.9% | 20.1% | 10 |
| 1990s | 2.8% | -4.5% | 7.6% | 10 |
| 2000s | 22.3% | 3.4% | 41.9% | 10 |
| 2010s | 2.1% | -33.2% | 25.8% | 10 |
| 2020s | 8.1% | -10.2% | 22.2% | 4 |
Countries ranked near Libya
More economy & growth data for Libya
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.31 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.3 Percent per annum (2029)
- GDP (current US$), annual growth rate -0.8006 % change on previous year (2025)
- GDP (current US$), per capita 6,449 current US$ per person (2025)
- GDP (current LCU), annual growth rate 8.91 % change on previous year (2025)
- GDP (current LCU), per unit of GDP 5.31 current LCU per US$ of GDP (2025)
- GDP (current LCU), per capita 34,212 current LCU per person (2025)
- GDP (constant 2015 US$), annual growth rate 13.37 % change on previous year (2025)
- GDP (constant 2015 US$), per unit of GDP 1.34 constant 2015 US$ per US$ of GDP (2025)
- GDP (constant 2015 US$), per capita 8,634 constant 2015 US$ per person (2025)
Frequently asked questions
- What is current account balance in Libya?
- Current account balance in Libya was 4.2% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Libya?
- The highest recorded value was 41.9% in 2007.
- What is the lowest current account balance recorded in Libya?
- The lowest recorded value was -33.2% in 2014.
- How does Libya rank for current account balance?
- Libya ranks 45th out of 199 countries with data for 2023.
- Is current account balance rising or falling in Libya?
- Over the last ten years it is up 33,141.3%. The long-run trend across the full record is volatile.
- Where does this Libya data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 47 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.