Economy, Foreign Trade

Petroleum accounts for 95 percent of Libya’s export trade; as oil prices declined, exports dropped from $21.9 billion in 1980 to $8.5 billion in 1993. Manufactured goods and food are chief imports. In 2000 exports totaled $13 billion, and imports, $4.7 billion. Principal trading partners for exports are Italy, Germany, Spain, France, Turkey, Greece, and Egypt; chief partners for imports are Italy, Germany, the United Kingdom, France, Spain, Turkey, and Tunisia.