Libya is situated on the Southern Mediterranean coast of North Africa. It has borders with Chad and Niger in the South, Egypt and Sudan in the East, and Algeria and Tunisia in the West. Meadows and forests make up a small area of the land. The narrow strip on the Mediterranean coast is more fertile. The Saharan plateau forms about 90 percent of Libya making it a truly desert land. There are no perennial rivers in Libya. The coastal region has a temperate climate, with mild winters and hot dry summers. Extreme desert conditions prevail inland.

Libya’s economy is based on the exploitation of crude oil. The country’s proven oil reserves represent almost half of Africa’s. The majority of electricity used is obtained from oil-fired power plants. Major mineral deposits of the country include iron ore, potassium, magnesium, sulphur, and phosphate. There is also potential for extracting uranium. The agricultural sector has been developing, but the climatic conditions and irrigation problems limit the output. Main agricultural products are wheat, barley, olives, dates, vegetables, citrus fruits, and peanuts. There is a significant potential for a fishing industry based especially on tuna, sardines, and red mullet. Manufacturing activities are mostly limited to food processing.

GDP at Current Market Prices:	19535.86 million US$ (2004)
Per Capita GDP:	4652.05 US$ (2004)
Share of Sectors in GDP:	8.77% Agriculture, 55.0% Industry, 40.0% Services, (2003)
Total Exports:	9224.97 million US$ (2003)
Total Imports:	- million US$ (2004)
Major Exports Items:	Crude oil, refined petroleum products and natural gas
Major Imports Items:	Machinery and transportation equipment, foodstuffs and manufactured goods
Major Trading Partners:	Italy, Germany, Spain and South Korea

Central Bank of Libya

National Organization of Information and Documentation