Oil rents as a share of GDP in Libya 2002-2021

The average share of GDP generated from oil rents in Libya increased significantly by 47.1 percentage points since the previous year. The year 2021 therefore marks a significant change in the average share compared to the previous year.

The estimates of natural resource rents are calculated as the difference between the price of a commodity and the average cost of producing it. For oil rents, this is estimated by subtracting the total costs of crude oil production from the value of production at regional prices.
Find more key insights for the average share of GDP generated from oil rents in countries like Algeria.