ttees
Judicial branch:
Supreme Court
Political parties and leaders:
none
Other political or pressure groups:
various Arab nationalist movements with almost negligible memberships
may be functioning clandestinely, as well as some Islamic elements
Member of:
ABEDA, AfDB, AFESD, AL, AMF, AMU, CAEU, CCC, ECA, FAO, G-77, IAEA,
IBRD, ICAO, IDA, IDB, IFAD, IFC, ILO, IMF, IMO, INTELSAT, INTERPOL,
IOC, ISO, ITU, LORCS, NAM, OAPEC, OAU, OIC, OPEC, UN, UNCTAD, UNESCO,
UNIDO, UPU, WHO, WIPO, WMO, WTO
Diplomatic representation in US:
none
US diplomatic representation:
none
Flag:
plain green; green is the traditional color of Islam (the state
religion)

@Libya, Economy

Overview:
The socialist-oriented economy depends primarily upon revenues from
the oil sector, which contributes practically all export earnings and
about one-third of GDP. In 1990 per capita GDP was the highest in
Africa at $5,410, but GDP growth rates have slowed and fluctuate
sharply in response to changes in the world oil market. Import
restrictions and inefficient resource allocations have led to
shortages of basic goods and foodstuffs. Windfall revenues from the
hike in world oil prices in late 1990 improved the foreign payments
position and resulted in a current account surplus through 1992. The
nonoil manufacturing and construction sectors, which account for about
20% of GDP, have expanded from processing mostly agricultural products
to include petrochemicals, iron, steel, and aluminum. Although
agriculture accounts for only 5% of GDP, it employs about 20% of the
labor force. Climatic conditions and poor soils severely limit farm
output, and Libya imports about 75% of its food requirements. The UN
sanctions imposed in April 1992 have not yet had a major impact on the
economy because Libya's oil revenues generate sufficient foreign
exchange that, along with Libya's large currency reserves, sustain
food and consumer goods imports as well as equipment for the oil
industry and ongoing development projects.
National product:
GDP - purchasing power equivalent - $32 billion (1993 est.)
National product real growth rate:
1% (1993 est.)
National product per capita:
$6,600 (1993 est.)
Inflation rate (consumer prices):
6% (1993 est.)
Unemployment rate:
NA%
Budget:
revenues:
$8.1 billion
expenditures:
$9.8 billion, including capital expenditures of $3.1 billion (1989
est.)