Quick Facts

Quick Facts

Location: Libya is located in North Africa; it is bordered by the Mediterranean Sea to the north and it shares borders with Egypt to the east, Tunisia and Algeria to the west, and Niger, Chad, and Sudan to the south.

Geographic Coordinates: 26.3352 N, 17.2283 E

Population: 6,679,000 (2020 est.)

Area: 1.8 million sq. km

Capital: Tripoli

Time: Time is GMT+2, or 7 hours ahead of U.S. Eastern Standard Time (EST).

Language: Arabic is the official language, with dialects of Berber, Domari, Tedaga also spoken. English, Italian, and French are characterized as unofficial foreign languages.

Currency and Exchange Rates: Libya’s currency is the Libyan Dinar, or LYD. It is subdivided into 1000 dirham. Libyan paper notes appear in denominations of 1, 5, 10, 20, and 50 dinars. Coins come in denominations of 50 dirham, 100 dirham, ¼ and ½ dinar.

The rate of exchange is 1 LYD=0.73 USD (as of September 2020)

Labor Force: 2.31 million (2019 est.)
GDP Growth Rate: 2.5% (2019 est.)
Main Exports: Crude Oil, Refined Petroleum Products, Natural Gas, Chemicals.
Main Imports: Machinery, Transport Equipment, Semi-Finished Goods, Food, Consumer Products

Public Holidays:

February 17 - Libyan Revolution Day
May 1 - Labour Day
1 Shawwal - Eid al-Fitr
9 Dhul Hija - Day of Arafat
10 Dhul Hija - Eid al-Adha
1 Muharram - Islamic New Year
September 16 - Martyr’s Day
12 Rabi’al Awwal - Mawlid al Nabi
October 23 - Liberation Day
December 24 - Libyan Independence Day

Climate and
Geography

Libya has two major climate systems. In the south, the climate is hot and dry, characteristic of the Sahara Desert region. However, in the north, the Mediterranean Sea creates a milder climate.

The Government

The Government of National Accord (GNA) is an interim government for Libya that was formed under the terms of the Libyan Political Agreement, which is a United Nations-led initiative that was signed on 17 December 2015. As of 2016, the GNA has 17 ministers and is led by Prime Minister Fayez al-Sarraj. The GNA is recognized by the United Nations as Libya’s legitimate government.

The Economy

The Libyan economy depends primarily on oil production and exports, accounting for approximately 60 percent of the country’s Gross Domestic Product (GDP). However, Libya’s sales of oil and natural gas collapsed during the 2011 revolution, rebounded in 2012 and 2013, and fell again in late 2013 and throughout 2014 due to unrest at Libyan oil ports. Oil production jumped again toward the end of 2019 to reach its normal level of 1.3 million barrels per day. Apart from oil and gas, the Libyan economy also is dependent on gypsum mining and natural gas drilling.

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