Libya Country Overview
Libya, located in Northern Africa on the Mediterranean coast, has a population of 6.9 million, with most residents living along the coast due to the harsh interior. Tripoli, the capital, is the largest city. The official language is Arabic, but Italian, English, and Berber are also spoken. Islam is the predominant religion, primarily Sunni. Libya faces high risks related to travel and commerce due to ongoing civil conflict, terrorism, and widespread corruption, particularly in public procurement and the oil industry.
Libya General Information
Capital: Tripoli
Language: Arabic (official language)
Religion: Islam (96.6% of the population are Sunni Muslims)
Currency: Libyan dinar
Cryptocurrency: No official cryptocurrency
Time Zone: Eastern European Time (UTC+2)
About Libya
Libya is located in Northern Africa on the Mediterranean coast, Tunisia, Egypt, Sudan, Chad, Niger and Algeria. The current population stands at 6.9 million people, with 12% of these believed to be immigrants, making it the 107th most populated country in the world.
Over 90% of the population live along the Mediterranean Coast between Tripoli and Al Bayda, as the Sahara and lack of fresh water make the interior largely uninhabitable.
Tripoli, the capital, is also the most populous city, containing 1.13 million inhabitants.
The official language is Arabic, although Italian and English are widely understood in the major cities, as well as Berber throughout the country.
96.6% of the population are Muslim, virtually all being Sunnis, and the country also contains a small Christian minority.
Libya continues to be viewed as a very high-risk country in relation to commercial activities and travel predominantly owing to the ongoing civil war, vast number of armed militias and the presence of terrorist groups such as Daesh and al-Qaeda in the Islamic Maghreb affiliated groups.
There is a high risk of terrorism and kidnap, by criminals, militias and extremist groups, across Libya.
Corruption continues to plague Libya, with the country being ranked 170 of 176 countries by Transparency International’s 2023 Corruption Index.
All sectors of the Libyan economy and state suffer from endemic corruption but particularly the public procurement sector and the oil industry, whilst state owned enterprises dominate their markets. Corruption was rampant under Gaddafi’s regime, but has significantly worsened in the post-revolution era.
The Libyan economy has remained in recession since 2013, with GDP contracting by an estimated 1.24% in 2022 to an estimate of US$55.5 billion.
The official currency of Libya is the Libyan Dinar.
In 2021, a Government of National Unity was formed in Tripoli with Abdul Hamid Dbeibeh as the prime minister, but the following year the eastern-based parliament formed a rival – and similarly named – Government of National Stability.
The Central Bank of Libya, which takes oil revenues, and the National Oil Corporation are both loyal to the Presidential Council.
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