Trade Trend

In 2023, Libya's total export value is 33.98Billion USD, total import value is 20.18Billion USD, Surplus is 13.81Billion USD, and foreign trade dependency is 1.073. In 2023，Libya's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(30.83Billion USD), Petroleum gases and other gaseous hydrocarbons(1.29Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(750.83Million USD), top export destinations are Italy(7.96Billion USD), Germany(5.14Billion USD), Spain(3.08Billion USD). In 2023, Libya's top import products are Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(4.52Billion USD), Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(888.87Million USD), Jewellery articles and parts thereof, of precious metal or of metal clad with precious metal(393.15Million USD), top import origins are China(3.90Billion USD), Turkey(3.27Billion USD), Italy(1.84Billion USD).

Comparing to 2022, Libya's total export value decreased -4.68Billion USD(-12.10%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils obtained from bituminous minerals; crude(-2.28Billion USD or -6.88%), Petroleum gases and other gaseous hydrocarbons(-2.06Billion USD or -61.44%), Ammonia; anhydrous or in aqueous solution(-87.98Million USD or -44.33%) and export decreases to countries/economics such as Italy(-2.51Billion USD or -23.95%), Spain(-908.04Million USD or -22.76%), Netherlands(-827.02Million USD or -39.32%). Comparing to 2022, Libya's total import value increased 2.63Billion USD(14.97%) in 2023, this could result from its import increases of products such as Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(333.74Million USD or 60.12%), Monumental or building stone, worked (except slate) and articles thereof (not of heading no. 6801) mosaic cubes etc., of natural stone including slate; artificially coloured granules of natural stone(197.58Million USD or 126.72%), Telephone sets, including smartphones and other telephones for cellular/wireless networks; other apparatus for the transmission or reception of voice, images or other data (including wired/wireless networks), excluding items of 8443, 8525, 8527, or 8528(143.30Million USD or 185.05%), and its import increases from countries/economies such as China(1.58Billion USD or 68.17%), Cyprus(644.24Million USD or 495.78%), Egypt(609.65Million USD or 50.18%).