Gross savings in Libya
Libya: Gross savings was 24.6% in 2023. ◆ Volatile
Gross savings in Libya, 1990–2023
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GNI.
Analysis
Libya recorded 24.6% for gross savings in 2023.
Compared with earlier readings it is down 24.7% on the previous year and down 19.0% over ten years.
Over the whole period, gross savings in Libya peaked at 67.9% in 2006 and was at its lowest, -0.4%, in 2020.
Libya ranks 72nd of 177 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Gross savings in Libya, year by year
| Year | % of GNI | Change |
|---|---|---|
| 1990 | 25.2% | — |
| 1991 | 14.4% | -42.8% |
| 1992 | 15.5% | +7.9% |
| 1993 | 11.5% | -25.9% |
| 1994 | 15.9% | +38.0% |
| 1995 | 20.0% | +26.1% |
| 1996 | 22.2% | +10.7% |
| 1997 | 16.7% | -24.6% |
| 1998 | 11.2% | -33.2% |
| 1999 | 18.8% | +68.1% |
| 2000 | 34.9% | +86.0% |
| 2001 | 29.9% | -14.5% |
| 2002 | 27.4% | -8.2% |
| 2003 | 48.3% | +76.2% |
| 2004 | 44.0% | -9.0% |
| 2005 | 62.5% | +42.2% |
| 2006 | 67.9% | +8.7% |
| 2007 | 63.4% | -6.7% |
| 2008 | 65.7% | +3.7% |
| 2009 | 42.8% | -34.8% |
| 2010 | 51.8% | +21.0% |
| 2011 | 21.0% | -59.4% |
| 2012 | 46.6% | +121.3% |
| 2013 | 30.4% | -34.6% |
| 2014 | 13.1% | -56.9% |
| 2015 | 5.6% | -57.2% |
| 2016 | 1.8% | -67.7% |
| 2017 | 21.0% | +1060.7% |
| 2018 | 30.5% | +45.3% |
| 2019 | 18.6% | -39.0% |
| 2020 | -0.4% | -102.1% |
| 2021 | 29.3% | -7567.0% |
| 2022 | 32.7% | +11.7% |
| 2023 | 24.6% | -24.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 17.1% | 11.2% | 25.2% | 10 |
| 2000s | 48.7% | 27.4% | 67.9% | 10 |
| 2010s | 24.0% | 1.8% | 51.8% | 10 |
| 2020s | 21.6% | -0.4% | 32.7% | 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)
- Gross value added at basic prices (GVA) (current US$), annual growth -3.24 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current US$), per unit of GDP 1.02 current US$ per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current US$), per capita 6,556 current US$ per person (2025)
- Gross value added at basic prices (GVA) (current LCU), annual growth 6.22 % change on previous year (2025)
- Gross value added at basic prices (GVA) (current LCU), per unit of GDP 5.39 current LCU per US$ of GDP (2025)
- Gross value added at basic prices (GVA) (current LCU), per capita 34,780 current LCU per person (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), annual 13.3 % change on previous year (2025)
- Gross value added at basic prices (GVA) (constant 2015 US$), per unit 1.38 constant 2015 US$ per US$ of GDP (2025)
Frequently asked questions
- What is gross savings in Libya?
- Gross savings in Libya was 24.6% in 2023, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest gross savings recorded in Libya?
- The highest recorded value was 67.9% in 2006.
- What is the lowest gross savings recorded in Libya?
- The lowest recorded value was -0.4% in 2020.
- How does Libya rank for gross savings?
- Libya ranks 72nd out of 177 countries with data for 2023.
- Is gross savings rising or falling in Libya?
- Over the last ten years it is down 19.0%. The long-run trend across the full record is volatile.
- Where does this Libya data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Gross savings (% of GNI). Statizoid updates them automatically from the source API.
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About this data
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. This indicator is expressed as a percentage of Gross National Income (GNI) which is the total income earned by all residents within an economic territory during an accounting period. It is equal to gross domestic product plus earned income receivable from abroad minus earned income payable abroad.