• Libya: oil rents as a share of GDP

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In 2018, oil rents in Libya constituted 42.43 percent of the gross domestic product (GDP). From 2000 onwards, the trend has not been constant, with the share of oil rents rising and declining multiple times. The lowest share was attained in 2016 at 21.01 percent, while the peak was observed in 2006. In that year, the Libyan economy was substantially dependent on oil, with oil rents constituting over 67.5 percent of the country’s GDP.

Oil rents as a percentage of GDP in Libya from 2000 to 2018

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Release date

2021

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Region

Libya

Survey time period

2000 to 2018

Supplementary notes

The source does not specify the publication date. The release date is the date of accessing the data.
Figures have been rounded.

Data are estimates based on sources and methods as in "The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium (World Bank, 2011).

"Oil rents are the difference between the value of crude oil production at world prices and total costs of production."