Economy of Libya

The Economy of Libya is centrally planned. It depends primarily upon revenues from the petroleum sector, which contributes practically all export earnings and over half of GDP. These oil revenues and a small population have given Libya the highest nominal per capita GDP in Africa. Since 2000, Libya has recorded favourable growth rates with an estimated 10.6% growth of GDP in 2010.

Read more about Economy Of Libya:  Macro-economic Trend, Oil Sector, Diversification, Labor Market, External Trade and Finance, Statistics, International Rankings

Famous quotes containing the words economy of and/or economy:

    Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.
    Ralph Waldo Emerson (1803–1882)

    The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.
    Henry David Thoreau (1817–1862)