Net errors and omissions in Libya
Libya: Net errors and omissions was 711.10 million BoP, current US$ in 2023. ◆ Volatile
Latest (2023)
711.10 million BoP, current US$
Change on year
down 49.0%
World rank
38th
of 199 countries
All-time high
2.63 billion BoP, current US$
in 2011
All-time low
-2.53 billion BoP, current US$
in 2012
Years of data
47
1977–2023
Net errors and omissions in Libya, 1977–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in BoP, current US$.
Analysis
The most recent figure for net errors and omissions in Libya is 711.10 million BoP, current US$, measured in 2023.
That represents a change of down 49.0% on the previous year and up 128.4% over ten years.
Over the whole period, net errors and omissions in Libya peaked at 2.63 billion BoP, current US$ in 2011 and was at its lowest, -2.53 billion BoP, current US$, in 2012.
That places Libya 38th out of 199 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net errors and omissions in Libya, year by year
| Year | BoP, current US$ | Change |
|---|---|---|
| 1977 | 32.76 million BoP, current US$ | — |
| 1978 | 56.75 million BoP, current US$ | +73.2% |
| 1979 | -253.00 million BoP, current US$ | -545.8% |
| 1980 | -102.01 million BoP, current US$ | -59.7% |
| 1981 | 328.66 million BoP, current US$ | -422.2% |
| 1982 | 170.91 million BoP, current US$ | -48.0% |
| 1983 | -235.77 million BoP, current US$ | -237.9% |
| 1984 | -1.15 billion BoP, current US$ | +388.5% |
| 1985 | -327.31 million BoP, current US$ | -71.6% |
| 1986 | 795.51 million BoP, current US$ | -343.0% |
| 1987 | 144.77 million BoP, current US$ | -81.8% |
| 1988 | 242.16 million BoP, current US$ | +67.3% |
| 1989 | 130.51 million BoP, current US$ | -46.1% |
| 1990 | -37.43 million BoP, current US$ | -128.7% |
| 1991 | 301.00 million BoP, current US$ | -904.1% |
| 1992 | 31.61 million BoP, current US$ | -89.5% |
| 1993 | -150.80 million BoP, current US$ | -577.1% |
| 1994 | 219.02 million BoP, current US$ | -245.2% |
| 1995 | 229.82 million BoP, current US$ | +4.9% |
| 1996 | -209.71 million BoP, current US$ | -191.2% |
| 1997 | 711.92 million BoP, current US$ | -439.5% |
| 1998 | 332.57 million BoP, current US$ | -53.3% |
| 1999 | -337.64 million BoP, current US$ | -201.5% |
| 2000 | -818.00 million BoP, current US$ | +142.3% |
| 2001 | -1.24 billion BoP, current US$ | +52.1% |
| 2002 | 400.00 million BoP, current US$ | -132.2% |
| 2003 | 2.00 billion BoP, current US$ | +399.1% |
| 2004 | 1.79 billion BoP, current US$ | -10.3% |
| 2005 | -1.45 billion BoP, current US$ | -181.0% |
| 2006 | 2.03 billion BoP, current US$ | -240.0% |
| 2007 | 1.14 billion BoP, current US$ | -43.8% |
| 2008 | -1.75 billion BoP, current US$ | -253.6% |
| 2009 | 1.32 billion BoP, current US$ | -175.4% |
| 2010 | -2.14 billion BoP, current US$ | -261.7% |
| 2011 | 2.63 billion BoP, current US$ | -223.2% |
| 2012 | -2.53 billion BoP, current US$ | -196.3% |
| 2013 | -2.50 billion BoP, current US$ | -1.2% |
| 2014 | -2.12 billion BoP, current US$ | -15.2% |
| 2015 | 2.13 billion BoP, current US$ | -200.4% |
| 2016 | -1.21 billion BoP, current US$ | -156.6% |
| 2017 | -790.20 million BoP, current US$ | -34.5% |
| 2018 | -1.23 billion BoP, current US$ | +56.2% |
| 2019 | -1.99 billion BoP, current US$ | +60.8% |
| 2020 | 1.59 billion BoP, current US$ | -180.0% |
| 2021 | -577.50 million BoP, current US$ | -136.4% |
| 2022 | 1.39 billion BoP, current US$ | -341.3% |
| 2023 | 711.10 million BoP, current US$ | -49.0% |
Libya compared with similar countries
- Libya's 711.10 million BoP, current US$ is above the median for upper middle income countries, which is 2.76 million BoP, current US$, 257.5× the median. (57 countries reporting)
- Libya's 711.10 million BoP, current US$ is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is 490.89 million BoP, current US$, 1.4× the median. (22 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -54.50 million BoP, current US$ | -253.00 million BoP, current US$ | 56.75 million BoP, current US$ | 3 |
| 1980s | -439,300 BoP, current US$ | -1.15 billion BoP, current US$ | 795.51 million BoP, current US$ | 10 |
| 1990s | 109.04 million BoP, current US$ | -337.64 million BoP, current US$ | 711.92 million BoP, current US$ | 10 |
| 2000s | 341.55 million BoP, current US$ | -1.75 billion BoP, current US$ | 2.03 billion BoP, current US$ | 10 |
| 2010s | -975.10 million BoP, current US$ | -2.53 billion BoP, current US$ | 2.63 billion BoP, current US$ | 10 |
| 2020s | 778.62 million BoP, current US$ | -577.50 million BoP, current US$ | 1.59 billion BoP, current US$ | 4 |
Countries ranked near Libya
- 35 Democratic Republic of Congo 778.40 million BoP, current US$ compare
- 36 Portugal 775.24 million BoP, current US$ compare
- 37 Haiti 752.16 million BoP, current US$ compare
- 39 Uganda 608.51 million BoP, current US$ compare
- 40 Bangladesh 591.90 million BoP, current US$ compare
- 41 Sudan 538.74 million BoP, current US$ compare
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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -56.51 million BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0012 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita -7.66 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 794.70 million BoP, current US$ (2023)
- Foreign direct investment, net inflows (BoP, current US$), annual 13.21 % change on previous year (2023)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0181 BoP, current US$ per US$ of GDP (2023)
- Foreign direct investment, net inflows (BoP, current US$), per capita 108.78 BoP, current US$ per person (2023)
- Total reserves (includes gold, current US$), annual growth rate 12.66 % change on previous year (2025)
Frequently asked questions
- What is net errors and omissions in Libya?
- Net errors and omissions in Libya was 711.10 million BoP, current US$ in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net errors and omissions recorded in Libya?
- The highest recorded value was 2.63 billion BoP, current US$ in 2011.
- What is the lowest net errors and omissions recorded in Libya?
- The lowest recorded value was -2.53 billion BoP, current US$ in 2012.
- How does Libya rank for net errors and omissions?
- Libya ranks 38th out of 199 countries with data for 2023.
- Is net errors and omissions rising or falling in Libya?
- Over the last ten years it is up 128.4%. 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 Net errors and omissions (BoP, current US$). Statizoid updates them automatically from the source API.
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About this data
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.