Lybia

Libya, in long form the State of Libya, is a North African state in the Maghreb. It is bordered to the north by the Libyan Sea, to the northwest by Tunisia, to the west by Algeria, to the southwest by Niger, to the south-southeast by Chad, to the southeast by Sudan and to the east by Egypt.

General presentation

Official name: State of Libya
Type of regime: Parliamentary
Area: 1,759,500 km2 (1,000,000 sq mi)
Capital: Tripoli
Main cities: Tripoli, Benghazi, Misrata, al-Beida, Zouara, Sebha
Official language(s): Arabic

National holiday: indeterminate (February 17: anniv. 2011
Revolution; October 23: anniv. of the 2011 Liberation
Proclamation).

Population: 6,777,342 (2019, World Bank)
Density: 3.8 inhabitants/km2 (2018, World Bank)
Population growth: 1.5% (2019, World Bank)

Source: Ministry of Europe and Foreign Affairs

Economic situation

Libyan economic growth fell sharply in 2020 as a result of the dual impact of the oil blockade and the Covid-19 crisis. National economic activity is volatile, dependent on the country’s changing security situation and oil revenues. The Libyan economy is almost exclusively dependent on hydrocarbons. Government oil revenues reached USD 22.4bn for an estimated GDP of nearly USD 40bn in 2019 and accounted for nearly 80% of growth in 2019 (World Bank estimates). The double shock of the oil blockade and the health crisis led to a sharp drop in growth in 2020. The World Bank estimates the fall in real GDP to -31.3% in 2020, which would be the most severe recession since 2011. The closure of oil facilities between January and September 2020 by Marshal Haftar’s forces led to a 66.4% drop in oil production, from an average level of 1.1 million barrels per day (bpd) in 2019 to 368,167 bpd in 2020 (and even 107,000 bpd between February and September 2020 during the oil blockade). The fall in production, combined with the fall in oil prices in 2020, has caused almost USD 11 billion in financial losses. However, the current production rate has increased to 1.2M b/d and oil prices have now risen above their pre-crisis level of USD 80 per barrel.
Source: DGT

Bilateral Relations

Bilateral investment treaties

Work in process

Double taxation agreements

Work in process

Free trade agreements

Work in process

Leading sector for Swiss companies

agriculture : 5% of the total
industry : 20% of the total
services : 75% of the total

Indicators

 201620172018 E2019 E
GDP (in billions of USD) 18.54 e30.57 e43.2451.33
GDP per capita (USD)2.904 e4.704 e6.6397.803
Growth rate-2.8 e26.7 e7.24
Unemployment rate
Inflation rate25.928.51510
Public debt (% of GDP)189.7134.2116125.6
Budget balance (% of GDP)-81.2-34.5-25.922.6
Current account balance (% of GDP)-182.2-2.9-5

(Sources FMI, Banque Mondiale)

Main customers

Italy, Germany, China and France
Source: IMF

Main suppliers

Italy, China, Turkey and Egypt
Source: IMF

Swiss exports to

Work in process

Exports of …. to Switzerland

Work in process

Swiss direct investment in

Work in process

The business climate

Work in process