The Impact of Food Import Dependency on Economic Growth in Libya
An Empirical Analysis in Light of GDP Evolution (2010–2023)
DOI:
https://doi.org/10.59743/jaf.v9i2.851Keywords:
Economic Growth, Food Import Dependency, Gross Domestic Product, Inflation, Oil PricesAbstract
This study aims to analyze the impact of reliance on food imports on Libya’s economic growth over the period 2010–2023, against the backdrop of worsening food security challenges and high import dependency. To achieve this objective, the study employs a quantitative analytical approach, utilizing an Ordinary Least Squares (OLS) regression model based on annual time-series data. Key variables include the share of food imports in GDP, oil prices, and the inflation rate. The findings reveal a statistically significant negative relationship between increased dependence on food imports and real GDP growth, indicating that such reliance contributes to foreign exchange outflows and undermines the development of domestic productive sectors. The analysis also shows a positive effect of oil prices on economic growth, while inflation exerts a detrimental impact. Based on these results, the study recommends implementing strategic economic policies focused on enhancing local agricultural production, diversifying non-oil income sources, and rationalizing food imports—measures essential for strengthening food security and fostering sustainable economic growth in Libya.
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The Impact of Food Import Dependency on Economic Growth in Libya: An Empirical Analysis 2010–2023
Data Sources
World Bank Databank: For GDP and inflation data.
FAOSTAT: For the food import ratio
OPEC Annual Statistical Bulletin: For oil prices
Central Bank of Libya: For verification of local indicators
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