Libya's trade in services (% of GDP) was 24.3% in 2023, the latest year in the World Bank's World Development Indicators. That is up 12.81 percentage points from 11.48% in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 24.3% | 2023 |
| Five years earlier | 6.78% | 2018 |
| Ten years earlier | 11.48% | 2013 |
| Highest | 24.3% | 2023 |
| Lowest | 2.37% | 1995 |
| Average since 2014 | 13.4% | 2014–2023 |
| First recorded | 6.41% | 1977 |
What the numbers say
In 2023, Libya's trade in services (% of GDP) rose 5.12 percentage points on 2022 (from 19.17% to 24.3%).
Across the 30 yearly changes before that (1993 to 2022), the average change was +0.51 percentage points and a typical year strayed about 3.26 percentage points from that (the standard deviation). This year's change was 1.4 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 12.68 percentage points in 2021 and the biggest yearly fall was 5.06 percentage points in 2022. 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 upward, about 1.64 percentage points a year. A straight line explains 52% 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 9th 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.
| Value | Year | |
|---|---|---|
| Libya | 24.3% | 2023 |
| World | 15.19% | 2025 |
| Upper middle income | 7.79% | 2025 |
Closest to Libya in the 2023 ranking
What this measures
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 47 values
| Year | Trade in services (% of GDP) |
|---|---|
| 2023 | 24.3 |
| 2022 | 19.17 |
| 2021 | 24.23 |
| 2020 | 11.55 |
| 2019 | 11.42 |
| 2018 | 6.78 |
| 2017 | 6.95 |
| 2016 | 5.95 |
| 2015 | 10.55 |
| 2014 | 13.13 |
| 2013 |
Trade in services (% of GDP) in nearby economies
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 trade in services (% of GDP)?
- 24.3% in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 1977?
- It is up 17.89 percentage points from 6.41% in 1977. The highest value was 24.3% in 2023 and the lowest 2.37% in 1995.
- How does Libya rank?
- 9th highest of 12 economies with data for 2023.
- Is the latest change in trade in services (% of GDP) unusual for Libya?
- In 2023, Libya's trade in services (% of GDP) rose 5.12 percentage points on 2022 (from 19.17% to 24.3%). Across the 30 yearly changes before that (1993 to 2022), the average change was +0.51 percentage points and a typical year strayed about 3.26 percentage points from that (the standard deviation). This year's change was 1.4 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator BG.GSR.NFSV.GD.ZS, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators Database, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD) 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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