About two-thirds of Libya's exports go to EU, with Italy in the Lead
Official data released Monday by the Central Bank of Libya showed that exports to the European Union (EU) accounted for 68% of Libya's total exports during the period from 2021 to 2024.
The Central Bank's report on foreign trade attributed this high percentage to the nature of the economies of EU countries (Eurozone), which heavily rely on crude oil as a primary input for industry.
Libya's economy largely depends on oil as its main source of income, with crude oil representing more than 95% of total exports.
Asian countries ranked second in terms of the volume of Libyan exports, accounting for about 14% of total exports during the same period.
Export data over the past four years showed that Italy was the top importer of Libyan exports, with a share of 23.2% from 2021 to 2024. The value of Libyan exports to Italy reached approximately $6,895.9 million in 2024.
In addition to Italy, several other countries appear on the list of Libya's major export partners, including Germany, the United Kingdom, Greece, Spain, and France. According to the Central Bank's report, these countries are among the main consumers of Libyan exports, which are predominantly oil-based. Tags: crude exports libyan economy
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