ws down to the lower orders of society. GDP growth
fluctuates sharply in response to changes in the world oil market; GDP
has either contracted or grown very sluggishly since 1992. Import
restrictions and inefficient resource allocations have led to periodic
shortages of basic goods and foodstuffs. The nonoil manufacturing and
construction sectors, which account for about 20% of GDP, have
expanded from processing mostly agricultural products to include the
production of petrochemicals, iron, steel, and aluminum. Although
agriculture accounts for only 5% of GDP, it employs 18% 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 do not have a major impact on the economy
although they have increased transaction and transportation costs.

GDP: purchasing power parity-$38 billion (1997 est.)

GDP-real growth rate: 0.5% (1997 est.)

GDP-per capita: purchasing power parity-$6,700 (1997 est.)

GDP-composition by sector:
agriculture: 5%
industry: 55%
services: 40% (1996 est.)

Inflation rate-consumer price index: 30% (1997 est.)

Labor force:
total: 1 million
by occupation: industry 31%, services 27%, government 24%, agriculture
18%
note: 3% of the population in the 15-64 age group is non-national
(July 1998 est.)

Unemployment rate: 25% (1997 est.)

Budget:
revenues: $10.4 billion
expenditures: $10.3 billion, including capital expenditures of $2.5
billion (1995 est.)

Industries: petroleum, food processing, textiles, handicrafts, cement

Industrial production growth rate: NA%

Electricity-capacity: 4.6 million kW (1995)

Electricity-production: 17 billion kWh (1995)

Electricity-consumption per capita: 3,239 kWh (1995)

Agriculture-products: wheat, barley, olives, dates, citrus,
vegetables, peanuts; meat, eggs

Exports:
total value: $9 billion (f.o.b., 1995)
commodities: crude oil, refined petroleum products, natural gas
partners: Italy, Germany, Spain, France, Turkey, Greece, Egypt

Imports:
total value: $6.2 billion (f.o.b., 1995)
commodities: machinery, transport equipment, food, manufactured goods
partners: Italy, Germany, UK, France, Spain, Turkey, Tunisia, Eastern
Europe

Debt-external: $2.6 billion excluding military debt (1995 est.)

Economic aid: $NA

Currency: 1 Libyan dinar (LD) = 1,000 dirhams

Exchange rates: Libyan dinars (LD) per US$1-0.3902 (January 1998),