Trade in services in Libya
Libya: Trade in services 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 90th of 199 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.
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
- 87 Qatar 25.8% compare
- 88 French Polynesia 25.6% compare
- 89 Azerbaijan 24.8% compare
- 91 Solomon Islands 24.1% compare
- 92 Faroe Islands 24.0% compare
- 93 Israel 23.8% compare
More economy & growth data for Libya
- Gross capital formation 14.3% (2025)
- Gross fixed capital formation 14.3% (2025)
- Changes in inventories 124.67 current US$ (2023)
- Changes in inventories 600 current LCU (2023)
- Gross capital formation 6.86 billion current US$ (2025)
- Gross capital formation 36.42 billion current LCU (2025)
- Gross capital formation 7.95 billion constant 2015 US$ (2025)
- Gross capital formation 8.6% (2025)
- GDP 96.66 billion constant LCU (2025)
- External balance on goods and services 2.77 billion current US$ (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 90th out of 199 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.