Located on the northern African coast and east of Egypt, the State of Libya shipped US$31.8 billion worth of exported products around the globe in 2024.

That calculated dollar amount results from a 236.2% acceleration from $9.5 billion five years earlier in 2020.

Year over year, overall revenues from Libyan export sales in 2024 fell by -11% compared to $35.7 billion starting from 2023.

Libya’s top 3 most valuable exported goods are crude oil, unwrought gold and petroleum gases. Combined, that trio of lucrative products generated 93.4% of total Libyan export sales on global markets.

Libya’s Top Trading Partners

The latest available country-specific data from 2019 shows that 91.6% of products exported from Libya were bought by importers in: Italy (33.2% of Libya’s global total), mainland China (22.5%), Spain (11.6%), France (5%), United Arab Emirates (4.1%), United States of America (2.7%), Denmark (2.5%), Greece (2.4%), Netherlands (2.3%), Australia (1.9%), Thailand (1.7%) and Turkey (1.6%).

Applying a continental perspective, 61.5% of Libya’s exports by value was delivered to European countries while 32.5% were sold to importers in Asia. Libya shipped another 3% worth of goods to North America.

Smaller percentages went to Oceania’s Australia only (1.9%), Africa (0.6%), then Latin America (0.5%) excluding Mexico but including the Caribbean.

Given Libya’s population of 6.91 million people, its total US$31.8 billion in 2024 exports translates to roughly $4,600 for every resident in the North African country. That dollar metric lags the average $4,900 per capita one year earlier in 2023.

Libya’s Top 10 Exports

The following export product groups represent the highest dollar value in Libyan global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Libya.

1. Mineral fuels including oil: US$29.8 billion (93.6% of total exports)
2. Gems, precious metals: $737.9 million (2.3%)
3. Iron, steel: $527.9 million (1.7%)
4. Organic chemicals: $264 million (0.8%)
5. Copper: $138.5 million (0.4%)
6. Inorganic chemicals: $119.8 million (0.4%)
7. Aluminum: $79.7 million (0.25%)
8. Lead: $30.5 million (0.1%)
9. Fruits, nuts: $22.9 million (0.07%)
10. Fish: $17.9 million (0.06%)

Libya’s top 10 exports accounted for 98.7% of the overall value of its global shipments.

Organic chemicals represent the fastest grower among the top 10 export categories, up by 7,027% from 2023 to 2024.

In second place for improving export sales were fruits and nuts via a 95.1% advance.

Libya’s shipments of lead posted the third-fastest gain in value, up by 18.6%.

The leading decliner among Libya’s top 10 export categories was fish, pulled down by a -55.2% year-over-year drop.

At the more granular four-digit Harmonized Tariff System code level, crude oil represents Libya’s most valuable exported product at 88.8% of the country’s total. In second place was unwrought gold (2.3%) trailed by petroleum gases (also 2.3%), processed petroleum oils (2.2%), iron ore reduced products (0.8%), acyclic hydrocarbons (0.7%), iron or steel scrap (0.5%), copper scrap (0.4%), ammonia (also 0.4%), then high-temperature distilled coal tar oils (0.3%).

Products Driving Libya’s Best Trade Surpluses

Overall Libya posted an estimated US$6.6 billion surplus for 2024, reducing by nearly half (-47.5%) from $12.5 billion in black ink in 2023.

The following types of Libyan product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

1. Mineral fuels including oil: US$25.6 billion (Down by -11.8% since 2023)
2. Iron, steel: $264.1 million (Down by -25.3%)
3. Organic chemicals: $207.8 million (Reversing a -$46.6 million deficit)
4. Copper: $116.1 million (Down by -9.7%)
5. Inorganic chemicals: $92.3 million (Down by -33.5%)
6. Lead: $29.8 million (Up by 16.9%)
7. Woodpulp: $12.9 million (Up by 58.4%)
8. Wool: $1.3 million (Up by 1360.9%)
9. Collector items, art, antiques: $1.2 million (Down by -23.3%)
10. Raw hides, skins not furskins, leather: $1.1 million (Down by -40.7%)

Historically, Libya generates highly positive net exports in the international trade of crude oil and petroleum gases. In turn, these cashflows indicate Libya’s strong competitive advantages under the mineral fuels including oil product category.

Products Causing Libya’s Worst Trade Deficits

Below are exports from Libya that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Libya’s goods trail Libyan importer spending on foreign products.

1. Machinery including computers: -US$3.5 billion (Up by 86.7% since 2023)
2. Vehicles: -$1.55 billion (Up by 2.9%)
3. Electrical machinery, equipment: -$1.5 billion (Down by -21.6%)
4. Tobacco, manufactured substitutes: -$1.37 billion (Up by 98%)
5. Plastics, plastic articles: -$730.8 million (Down by -6.4%)
6. Sugar, sugar confectionery: -$532.1 million (Up by 74.7%)
7. Pharmaceuticals: -$523.6 million (Up by 11.7%)
8. Dairy, eggs, honey: -$513.2 million (Up by 2.1%)
9. Articles of iron or steel: -$507.7 million (Down by -2.6%)
10. Furniture, bedding, lighting, signs, prefab buildings: -$500.6 million (Down by -9.7%)

Libya has highly negative net exports and therefore deep international trade deficits under the machinery including computers category.

Libyan Export Companies

Not one Libyan corporation ranks among Forbes Global 2000.

Wikipedia lists exports-related companies from Libya. Selected examples are shown below.

• Arabian Cement Co. (construction materials)
• Arabian Gulf Oil Company (oil, gas)
• Brega Marketing Company (oil, gas)
• Challenger LTD (oil, gas)
• General National Maritime Transport Company (industrial transportation)
• Jowfe Oil Technology (oil, gas)
• Libyan Cement Company (construction materials)
• Libyan Iron and Steel Company (basic materials)
• National Oil Corporation (oil, gas)
• Oilibya (oil, gas)
• RASCO (oil, gas)
• Sirte Oil Company (oil, gas)
• Tamoil (oil, gas)
• Waha Oil Company (oil, gas)

 
In macroeconomic terms, Libya’s total exported goods represent 30.9% of its overall Gross Domestic Product for 2024 ($103 billion valued in Purchasing Power Parity US dollars). That 30.9% for exports to overall GDP in PPP for 2024 compares to 20.3% for 2023. Those metrics suggest a relatively increasing reliance on products sold on international markets for Libya’s total economic performance, albeit based on a short timeframe.

Another key indicator of a country’s economic performance is its unemployment rate. Libya’s unemployment rate averaged 18.6% for 2024, down from an average 18.7% in 2023 according to Trading Economics metrics.

Libya’s capital city is Tripoli, nicknamed by local residents as “Bride of the Sea” or “Mermaid”.

See also Crude Oil Exports by Country, Top 10 Exports from Cyprus, Malta’s Top 10 Exports

Research Sources:
Al Jazeera, Libyan fighting reaches streets of Tripoli (August 21, 2011). Accessed on December 23, 2025

Central Intelligence Agency, The World Factbook Country Profiles. Accessed on December 23, 2025

Forbes 2016 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on December 23, 2025

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on December 23, 2025

International Trade Centre, Trade Map. Accessed on December 23, 2025

Investopedia, Net Exports Definition. Accessed on December 23, 2025

Wikipedia, Gross domestic product. Accessed on December 23, 2025

Wikipedia, Libya. Accessed on December 23, 2025

Wikipedia, List of Companies of Libya. Accessed on December 23, 2025

Wikipedia, Purchasing power parity. Accessed on December 23, 2025