In 2019, Libya GDP was an estimated $33.0 billion (current market exchange rates); real GDP was up by an estimated 9.9%; and the population was 7 million. (Source: IMF)
Libya is currently our 82nd largest goods trading partner with $1.9 billion in total (two way) goods trade during 2019. Goods exports totaled $412 million; goods imports totaled $1.5 billion. The U.S. goods trade deficit with Libya was $1.1 billion in 2019.
Exports
- Libya was the United States' 106th largest goods export market in 2019.
- U.S. goods exports to Libya in 2019 were $412 million, up 69.0 percent ($168 million) from 2018 but down 38 percent from 2009.
- The top export categories (2-digit HS) in 2019 were: vehicles ($229 million), cereals (rice) ($26 million), machinery ($22 million), electrical machinery ($18 million), and plastics ($16 million).
- U.S. total exports of agricultural products to Libya totaled $66 million in 2019. Leading domestic export categories include: rice ($21 million), vegetable oils (ex. soybean) ($10 million), soybean meal ($8 million), poultry meat & products (ex. eggs) ($7 million), and wheat ($5 million).
Imports
- Libya was the United States' 69th largest supplier of goods imports in 2019.
- U.S. goods imports from Libya totaled $1.5 billion in 2019, up 7.0 percent ($99 million) from 2018, but down 22 percent from 2009.
- The top import categories (2-digit HS) in 2019 were: mineral fuels ($1.5 billion), organic chemicals ($19 million), art and antiques ($147 thousand), electrical machinery ($112 thousand), and fish and seafood (frozen bluefin tuna) ($58 thousand).
- There were no agricultural products imported from Libya in 2019.
Trade Balance
- The U.S. goods trade deficit with Libya was $1.1 billion in 2019, a 6.0 percent decrease ($69 million) over 2018.
Investment
- U.S. foreign direct investment (FDI) in Libya (stock) was $908 million in 2019, a 6.3 percent increase from 2018. (latest data available)
- Libya's FDI in the United States (stock) was $1 million in 2018 (latest data available).
