Libya - Income



Libya Income 1915
Photo by: Mushakesa

The US Central Intelligence Agency (CIA) reports that in 2001 Libya's gross domestic product (GDP) was estimated at $40 billion. The per capita GDP was estimated at $7,600. The annual growth rate of GDP was estimated at 3%. The average inflation rate in 2001 was 13.6%. The CIA defines GDP as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity (PPP) rather than value as measured on the basis of the rate of exchange. It was estimated that agriculture accounted for 7% of GDP, industry 47%, and services 46%.

Foreign aid receipts amounted to about $2 per capita. Household consumption includes expenditures of individuals, households, and nongovernmental organizations on goods and services, excluding purchases of dwellings.

User Contributions:

Comment about this article, ask questions, or add new information about this topic:

CAPTCHA