Libyan Foreign Trade: Trade Relations and Their Impact on the Economy

Abstract

The study aimed to reveal the most important features of the Libyan economy and investment opportunities in some of its sectors, with a focus on the foreign trade sector as the most important sectors of the Libyan national economy during the period 2000-2020, the study used the analytical descriptive method, and the results of the study indicated the following: Oil revenues constitute about 95% of the government's exports and revenues. Lack of interest in other commodity sectors such as industry and agriculture to promote foreign trade. During the first period, the Libyan trade balance recorded a deficit of about 12.6 billion dinars due to the growth of Libyan imports because the state. During the second period, the value of imports decreased by about 42.3% of its value for the first period, with a decrease in the value of exports also due to political conditions, but the value of exports was higher than imports during this period, and the trade balance recorded a surplus of about 5.7 billion dinars.