19,576
edits
Changes
→Economy
*Industry: Types--petroleum, food processing, textiles, handicrafts, cement.
*Industry: Types--petroleum, food processing, textiles, handicrafts, cement.
*Trade: Exports (2006 est.)--$37.02 billion f.o.b.: crude oil, refined petroleum products. Major markets (2005)--Italy (38%), Germany (15.1%), Spain (9.3%), Turkey (6.2%), France (6.2%), U.S. (5.2%). Imports (2006 est.)--$14.47 billion f.o.b.: machinery, transport equipment, food, manufactured goods. Major suppliers (2003)--Italy (21.2%), Germany (10.2%), Tunisia (5.9%), Turkey (4.8%), U.K. (4.8%), France (4.7%), South Korea (4.6%), China (4.5%).
*Trade: Exports (2006 est.)--$37.02 billion f.o.b.: crude oil, refined petroleum products. Major markets (2005)--Italy (38%), Germany (15.1%), Spain (9.3%), Turkey (6.2%), France (6.2%), U.S. (5.2%). Imports (2006 est.)--$14.47 billion f.o.b.: machinery, transport equipment, food, manufactured goods. Major suppliers (2003)--Italy (21.2%), Germany (10.2%), Tunisia (5.9%), Turkey (4.8%), U.K. (4.8%), France (4.7%), South Korea (4.6%), China (4.5%).
* Oil - proved reserves: 47 billion bbl (1 January 2010 est.)
* Natural gas - proved reserves: 1.539 trillion cu m (1 January 2010 est.) [https://www.cia.gov/library/publications/the-world-factbook/geos/ly.html]
[[File:Home in Lybia.jpg|left|200px|Habitat.]]
[[File:Home in Lybia.jpg|left|200px|Habitat.]]
Despite efforts to diversify the economy and encourage private sector participation, extensive controls of prices, credit, trade, and foreign exchange constrain growth. Import restrictions and inefficient resource allocations have caused periodic shortages of basic goods and foodstuffs.
Despite efforts to diversify the economy and encourage private sector participation, extensive controls of prices, credit, trade, and foreign exchange constrain growth. Import restrictions and inefficient resource allocations have caused periodic shortages of basic goods and foodstuffs.