Trade in services (% of GDP) in Libya
Libya: Trade in services (% of GDP) was 24.3% in 2023. ◆ Volatile
Trade in services in Libya, 1977–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2023, trade in services in Libya stood at 24.3%. That is the highest value across all 47 years on record.
The figure is up 26.7% on the previous year and up 111.6% over ten years.
Over the whole period, trade in services in Libya peaked at 24.3% in 2023 and was at its lowest, 2.4%, in 1995.
Libya ranks 92nd of 200 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.
Trade in services (% of GDP) in Libya, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1977 | 6.4% | — |
| 1978 | 7.2% | +12.9% |
| 1979 | 6.9% | -5.2% |
| 1980 | 6.0% | -12.2% |
| 1981 | 8.0% | +33.3% |
| 1982 | 7.2% | -10.4% |
| 1983 | 7.5% | +3.7% |
| 1984 | 8.0% | +7.9% |
| 1985 | 5.8% | -27.6% |
| 1986 | 4.7% | -20.0% |
| 1987 | 5.8% | +23.5% |
| 1988 | 7.3% | +26.0% |
| 1989 | 6.4% | -12.5% |
| 1990 | 5.2% | -18.2% |
| 1991 | 8.7% | +68.1% |
| 1992 | 3.9% | -55.9% |
| 1993 | 4.0% | +4.0% |
| 1994 | 2.6% | -34.1% |
| 1995 | 2.4% | -10.2% |
| 1996 | 2.9% | +20.8% |
| 1997 | 2.5% | -11.8% |
| 1998 | 2.8% | +12.6% |
| 1999 | 2.9% | +2.4% |
| 2000 | 2.8% | -4.3% |
| 2001 | 3.6% | +28.1% |
| 2002 | 9.5% | +166.0% |
| 2003 | 7.8% | -18.3% |
| 2004 | 7.1% | -8.6% |
| 2005 | 6.1% | -14.2% |
| 2006 | 5.1% | -16.6% |
| 2007 | 4.0% | -20.9% |
| 2008 | 5.2% | +30.7% |
| 2009 | 9.0% | +70.7% |
| 2010 | 8.7% | -3.2% |
| 2011 | 9.2% | +6.0% |
| 2012 | 7.7% | -15.9% |
| 2013 | 11.5% | +48.6% |
| 2014 | 13.1% | +14.4% |
| 2015 | 10.6% | -19.6% |
| 2016 | 5.9% | -43.6% |
| 2017 | 6.9% | +16.8% |
| 2018 | 6.8% | -2.5% |
| 2019 | 11.4% | +68.6% |
| 2020 | 11.6% | +1.1% |
| 2021 | 24.2% | +109.7% |
| 2022 | 19.2% | -20.9% |
| 2023 | 24.3% | +26.7% |
Libya compared with similar countries
- Libya's 24.3% is below the median for upper middle income countries, which is 26.5%, 92% of the median. (57 countries reporting)
- Libya's 24.3% is above the median for Middle East, North Africa, Afghanistan & Pakistan, which is 20.9%, 1.2× the median. (22 countries reporting)
Biggest year-on-year movements
Years where Trade in services (% of GDP) in Libya changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2002 | +166.0% | 3.6% | 9.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.8% | 6.4% | 7.2% | 3 |
| 1980s | 6.7% | 4.7% | 8.0% | 10 |
| 1990s | 3.8% | 2.4% | 8.7% | 10 |
| 2000s | 6.0% | 2.8% | 9.5% | 10 |
| 2010s | 9.2% | 5.9% | 13.1% | 10 |
| 2020s | 19.8% | 11.6% | 24.3% | 4 |
Countries ranked near Libya
- 89 French Polynesia 25.6% compare
- 90 Azerbaijan 24.8% compare
- 91 Gambia 24.6% compare
- 93 Israel 24.1% compare
- 94 Solomon Islands 24.1% compare
- 95 France 24.0% 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)
- SDRs holdings, US dollar, annual growth rate 6.09 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.094 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 605.92 units per person (2025)
- SDRs holdings, SDR, annual growth rate 1.03 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0686 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 442.44 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0332 units per US$ of GDP (2025)
Frequently asked questions
- What is trade in services in Libya?
- Trade in services in Libya was 24.3% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Libya?
- The highest recorded value was 24.3% in 2023.
- What is the lowest trade in services recorded in Libya?
- The lowest recorded value was 2.4% in 1995.
- How does Libya rank for trade in services?
- Libya ranks 92nd out of 200 countries with data for 2023.
- Is trade in services rising or falling in Libya?
- Over the last ten years it is up 111.6%. 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 Trade in services (% 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
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. 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.