Libya's net secondary income (current US$, BoP) was −US$4.79 billion in 2023, the latest year in the World Bank's World Development Indicators. That is down 47.28% from −US$3.25 billion in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$4.79 billion | 2023 |
| Five years earlier | −US$752.6 million | 2018 |
| Ten years earlier | −US$3.25 billion | 2013 |
| Highest | US$586 million | 2006 |
| Lowest | −US$4.79 billion | 2023 |
| Average since 2014 | −US$1.4 billion | 2014–2023 |
| First recorded | −US$937 million |
What the numbers say
In 2023, Libya's net secondary income (current US$, BoP) fell US$2.31 billion on 2022 (from −US$2.48 billion to −US$4.79 billion).
Across the 30 yearly changes before that (1993 to 2022), the average change was −US$67.31 million and a typical year strayed about US$909.57 million from that (the standard deviation). This year's change was 2.5 standard deviations below that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was US$2.13 billion in 2014 and the biggest yearly fall was US$2.45 billion in 2012. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2014 to 2023 the straight-line trend is downward, about US$272.97 million a year. A straight line explains 40% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2023, Libya had the 12th highest value of the 12 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Libya in the 2023 ranking
- Curaçao — 9th of 12: −US$24.18 million
- Aruba — 10th of 12: −US$77.68 million
- Sint Maarten (Dutch part) — 11th of 12: −US$82.98 million
What this measures
Net secondary income (from abroad) comprises transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net secondary income is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Limitations: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded.
All 47 values
| Year | Net secondary income (current US$, BoP) |
|---|---|
| 2023 | -4,789,900,000 |
| 2022 | -2,477,100,000 |
| 2021 | -761,300,000 |
| 2020 | -820,500,000 |
| 2019 | -970,400,000 |
| 2018 | -752,600,000 |
| 2017 | -716,200,000 |
| 2016 | -755,800,000 |
| 2015 | -839,800,000 |
| 2014 | -1,120,900,000 |
Net secondary income (current US$, BoP) in nearby economies
- Afghanistan — US$2.18 billion (2020)
- Algeria — US$2.19 billion (2025)
- Bahrain — −US$2.55 billion (2025)
- Djibouti — US$9.3 million (2024)
- Egypt, Arab Rep. — US$41.17 billion (2025)
- Iraq — US$321.5 million (2025)
- Israel — US$4.22 billion (2025)
- Jordan — US$5.83 billion (2024)
- Kuwait — −US$16.96 billion (2025)
- Lebanon — US$5.98 billion (2023)
- Malta
More economic policy & debt data for Libya
- Total reserves, including gold (current US$) — US$104.66 billion (2025)
- Total reserves, excluding gold (current US$) — US$84.06 billion (2025)
- GDP (current US$) — US$48.1 billion (2025)
- GDP (current LCU) — 255.17 billion (2025)
- GDP (constant 2015 US$) — US$64.4 billion (2025)
- GDP (constant LCU) — 96.66 billion (2025)
- GDP per capita (current US$) — US$6,449 (2025)
- GDP per capita (current LCU) — 34,212 (2025)
- GDP per capita (constant 2015 US$) — US$8,634 (2025)
- GDP per capita (constant LCU) — 12,960 (2025)
- GNI (current US$) — US$49.92 billion (2025)
Reading data like this
Questions people ask
- What is Libya's net secondary income (current US$, BoP)?
- −US$4.79 billion in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1977?
- It is down 411.19% from −US$937 million in 1977. The highest value was US$586 million in 2006 and the lowest −US$4.79 billion in 2023.
- How does Libya rank?
- 12th highest of 12 economies with data for 2023.
- Is the latest change in net secondary income (current US$, BoP) unusual for Libya?
- In 2023, Libya's net secondary income (current US$, BoP) fell US$2.31 billion on 2022 (from −US$2.48 billion to −US$4.79 billion). Across the 30 yearly changes before that (1993 to 2022), the average change was −US$67.31 million and a typical year strayed about US$909.57 million from that (the standard deviation). This year's change was 2.5 standard deviations below that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator BN.TRF.CURR.CD, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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