Libya - Trade, Economy, Oil

Libya

Table of Contents

Introduction & Quick Facts
Land
- Relief
- Drainage
- Soils
- Climate
- Plant and animal life
People
- Ethnic groups and languages
- Religion
- Settlement patterns
- Demographic trends
Economy
- Agriculture, forestry, and fishing
- Resources and power
- Manufacturing
- Finance and trade
- Services
- Labour
- Transportation and telecommunications
Government and society
- Constitutional framework
- Local government
- Justice
- Political process
- Security
- Health and welfare
- Housing
- Education
Cultural life
- Cultural milieu
- The arts
- Cultural institutions
- Sports and recreation
- Media and publishing
History
- Ottoman rule
- Italian colonization
- Independence
  - The discovery of oil
  - The Qaddafi regime
  - Revolt in 2011
    - Strong government response to protests
    - Emergence of the Transitional National Council in Benghazi
    - Stalemate, resurgence of the Qaddafi regime, and international intervention
    - Intensification of international efforts: NATO air strikes, diplomacy, and ICC warrants
    - Qaddafi toppled and killed
  - Postrevolutionary chaos
    - Establishment of the General National Congress
    - Competing governments in Tripoli and Tobruk
    - Attempt at unity: Government of National Accord
    - Fight for the National Oil Corporation and Central Bank
    - Tobruk government extends its reach south and west
    - Turkish intervention, retreat of Tobruk government, and renewed attempt at unity

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Financial services are headed by the Central Bank of Libya, which supervises the banking system, regulates credit and interest policies, and issues the national currency, the Libyan dinar. The Libyan Arab Foreign Bank has made some investments, primarily in Italy. Since 1963, Libya has usually enjoyed a favourable balance of trade. Almost all its exports are represented by crude petroleum, but agricultural products and hides and skins also are exported. Imports consist of equipment for the oil and construction industries, farm machinery, consumer goods, and agricultural products. The country’s biggest import partners are China, South Korea, Turkey, Italy, and neighbouring ...(100 of 11801 words)

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