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Economy of Greece vs Libya compared: GDP & Debt

Updated on by Georank

Greece has a GDP of $281B compared to $48.1B for Libya, ranking 52/197 and 100/197 by economy size, respectively.

Greece vs Libya GDP by year

Greece
Libya
1x
Year GDP, current $
Greece Libya
2025 $280,635,521,324 $48,098,909,614
2024 $256,238,371,778 $48,487,151,215
2023 $242,946,187,738 $44,027,664,915
2022 $217,990,189,601 $43,246,297,922
2021 $218,303,801,895 $35,217,995,647
2020 $191,362,985,555 $46,854,285,441
2019 $207,305,649,887 $69,254,496,472
2018 $213,298,873,494 $76,686,029,772
2017 $200,381,103,984 $67,157,452,182
2016 $193,097,239,006 $49,912,073,701
2015 $194,567,373,678 $48,717,501,321
2014 $233,911,581,521 $57,372,355,592
2013 $236,556,279,641 $75,351,107,029
2012 $238,841,140,018 $92,540,938,129
2011 $283,228,079,776 $48,169,263,294
2010 $296,417,644,404 $75,380,825,062
2009 $326,829,054,686 $60,808,562,033
2008 $351,121,399,546 $86,710,767,415
2007 $314,226,996,944 $68,032,978,391
2006 $269,073,415,334 $60,094,231,607
2005 $242,315,668,619 $47,334,691,241
2004 $234,979,615,898 $33,122,307,692
2003 $196,930,509,813 $26,265,625,000
2002 $150,253,800,086 $20,481,889,764
2001 $132,050,474,720 $34,112,093,927
2000 $125,760,166,225 $38,270,954,138
1999 $137,131,371,955 $35,975,860,857
1998 $139,612,812,176 $27,251,301,398
1997 $138,766,067,640 $30,700,897,875
1996 $142,502,984,145 $27,884,615,385
1995 $134,974,613,914 $25,541,379,187
1994 $114,980,063,202 $28,610,549,763
1993 $107,295,704,518 $30,660,051,911
1992 $114,608,178,405 $33,887,047,909
1991 $103,680,863,713 $31,991,821,265
1990 $96,529,587,274 $28,904,183,602
1989 $78,067,933,277 $25,156,707,899
1988 $75,200,610,137 $24,308,959,591
1987 $64,739,630,096 $26,697,659,335
1986 $55,595,445,472 $24,180,400,959
1985 $47,155,741,426 $31,530,566,324
1984 $47,352,146,312 $29,476,109,153
1983 $48,741,397,059 $33,200,520,140
1982 $53,858,346,939 $33,760,146,991
1981 $51,618,456,335 $36,374,353,880
1980 $56,039,256,595 $40,953,924,949
1979 $53,724,121,435 $30,536,429,497
1978 $43,654,480,519 $22,136,422,643
1977 $35,673,080,481 $22,428,297,108
1976 $30,719,552,239 $19,096,943,017
1975 $28,129,128,587 $14,710,912,458
1974 $24,998,715,909 $15,112,543,717
1973 $22,037,019,563 $8,625,889,430
1972 $16,650,659,091 $6,299,395,544
1971 $14,388,806,818 $5,260,185,125
1970 $12,957,113,636 $4,601,649,451
1969 $11,454,106,327 $4,380,987,481
1968 $9,950,331,206 $3,850,623,095
1967 $9,146,592,856 $2,726,986,913
1966 $8,472,021,467 $2,312,438,536
1965 $7,582,209,670 $1,804,979,680
1964 $6,576,906,345 $1,341,395,421
1963 $5,813,285,627 $892,327,911
1962 $5,140,542,929 $619,725,785
1961 $4,892,397,431 $443,905,612
1960 $4,274,890,307 $401,644,249

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/greece/libya | CC BY

GDP per capita in Greece vs Libya by year

Greece
GDP per capita

GDP per capita, PPP
Libya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Greece Libya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $26,948 - $6,449 -
2024 $24,626 $44,327 $6,569 $14,304
2023 $23,344 $42,711 $6,027 $13,847
2022 $20,885 $39,612 $5,987 $12,266
2021 $20,653 $33,531 $4,936 $12,642
2020 $17,887 $29,533 $6,650 $10,955
2019 $19,335 $31,927 $9,963 $16,194
2018 $19,873 $29,792 $11,197 $18,879
2017 $18,632 $28,682 $9,966 $18,026
2016 $17,919 $27,505 $7,526 $16,961
2015 $17,981 $26,608 $7,458 $17,903
2014 $21,475 $26,450 $8,926 $17,510
2013 $21,573 $25,731 $11,952 $21,151
2012 $21,624 $24,583 $14,976 $26,826
2011 $25,505 $25,693 $7,594 $15,698
2010 $26,653 $27,839 $11,601 $30,234
2009 $29,425 $29,963 $9,551 $29,027
2008 $31,696 $30,441 $13,906 $30,812
2007 $28,441 $28,896 $11,145 $30,929
2006 $24,416 $28,076 $10,049 $28,936
2005 $22,054 $25,004 $8,079 $26,903
2004 $21,449 $24,826 $5,774 $23,813
2003 $18,021 $23,253 $4,674 $22,663
2002 $13,782 $21,985 $3,718 $20,061
2001 $12,157 $20,304 $6,313 $20,332
2000 $11,638 $18,820 $7,214 $20,617
1999 $12,743 $17,758 $6,895 $19,769
1998 $13,023 $17,434 $5,301 $19,639
1997 $13,016 $16,630 $6,062 $20,439
1996 $13,433 $15,778 $5,591 $19,392
1995 $12,779 $15,218 $5,205 $18,952
1994 $10,937 $14,667 $5,933 $19,318
1993 $10,257 $14,150 $6,478 $18,904
1992 $11,021 $14,130 $7,303 $19,572
1991 $10,047 $13,824 $7,040 $20,085
1990 $9,467 $13,126 $6,502 $17,173
1989 $7,738 - $5,793 -
1988 $7,492 - $5,736 -
1987 $6,474 - $6,465 -
1986 $5,578 - $6,019 -
1985 $4,747 - $8,087 -
1984 $4,785 - $7,811 -
1983 $4,950 - $8,927 -
1982 $5,502 - $9,064 -
1981 $5,305 - $10,044 -
1980 $5,812 - $11,960 -
1979 $5,627 - $9,443 -
1978 $4,629 - $7,252 -
1977 $3,832 - $7,783 -
1976 $3,343 - $7,018 -
1975 $3,109 - $5,721 -
1974 $2,789 - $6,214 -
1973 $2,468 - $3,727 -
1972 $1,873 - $2,830 -
1971 $1,629 - $2,443 -
1970 $1,474 - $2,210 -
1969 $1,306 - $2,175 -
1968 $1,138 - $1,972 -
1967 $1,053 - $1,437 -
1966 $984 - $1,251 -
1965 $887 - $1,001 -
1964 $773 - $765 -
1963 $686 - $528 -
1962 $608 - $382 -
1961 $583 - $285.3 -
1960 $513 - $269 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/greece/libya | CC BY

Greece's GDP per capita is $26,948, ranking 50/197, compared to $6,449 in Libya, ranking 112/197. Adjusted for purchasing power (GDP per capita PPP), Greece ranks 52nd at $44,327, while Libya ranks 118th at $14,304.

Economic indicators

Greece Libya
Gross domestic product
$281B
2025
$48.1B
2025
GDP rank
52/197
2025
100/197
2025
GDP growth
2.07%
2024-2025
13.4%
2024-2025
GDP per capita
$26,948
2025
$6,449
2025
GDP per capita rank
50/197
2025
112/197
2025
GDP per capita, PPP
$44,327
2024
$14,304
2024
GDP per capita PPP rank
52/197
2024
118/197
2024
Government debt
$409B
2025
n/a
Debt-to-GDP ratio
145.7%
2025
n/a
Government debt per person
$39,257
2025
n/a
Government debt per person rank
19/185
2025
n/a
Average annual personal income after taxes
$14,117
2026
$3,426
2026
Market capitalization of domestic companies
$129B
2025
n/a
Number of millionaires
82,000
2026
n/a
Number of billionaires
16
2026
n/a
Income share by richest 10%
26%
2023
n/a
Income share by poorest 10%
2.7%
2023
n/a
Government expenditure, % of GDP
49.7%
2025
102.3%
2025
Consumer prices inflation
2.48%
2024-2025
1.84%
2024-2025
Unemployment rate
8.84%
2025
30%
2004
Population
10371575
7580693

Government deficit by year

Deficit/surplus
Greece

Libya
1x
Year Deficit/surplus, % of GDP
Greece Libya
2025 1.26% -31.1%
2024 1.23% -25.9%
2023 -1.44% -7.16%
2022 -2.57% 23.6%
2021 -7.76% 14.8%
2020 -10.4% -22.3%
2019 -0.09% 11.9%
2018 0.78% 9.39%
2017 1.05% -11.1%
2016 0.28% -29.3%
2015 -3.03% -28.5%
2014 -4.29% -30.5%
2013 -4.06% -16.3%
2012 -6.94% 24.6%
2011 -10.5% -11.5%
2010 -11.4% 11.5%
2009 -15.4% -5.46%
2008 -10.3% 27.7%
2007 -6.81% 28.4%
2006 -6.04% 29.1%
2005 -6.33% 30.4%
2004 -9.05% 11.3%
2003 -8.05% 6.17%
2002 -6.2% 6.99%
2001 -5.64% 0.07%
2000 -4.21% 13.6%
1999 -6.02% 5.69%
1998 -6.48% -2.36%
1997 -6.25% -2.1%
1996 -8.35% 11.3%
1995 -9.87% 3.8%
1994 -8.48% -2.67%
1993 -11.5% -5.77%
1992 -10.6% 0.11%
1991 -9.63% 8.41%
1990 -13.3% 3.36%
1989 -11.9% -
1988 -9.63% -
1987 -8.09% -
1986 -8.62% -
1985 -9.56% -
1984 -7.19% -
1983 -6.17% -
1982 -5.49% -
1981 -7.08% -
1980 -2.5% -
1979 -2.34% -
1978 -5.39% -
1977 -5.21% -
1976 -5.05% -
1975 -5.3% -
1974 -4.39% -
1973 -3.71% -
1972 -4.16% -
1971 -3.32% -
1970 -3.24% -
1969 -6.65% -
1968 -3.39% -
1967 -2.59% -
1966 -2.17% -
1965 -2.55% -
1964 -2.89% -
1963 -2.25% -
1962 -2.4% -
1961 -2.69% -
1960 -3.3% -
1959 -2.77% -
1958 -2.27% -
1957 -2.45% -
1956 -0.39% -
1955 -3.57% -
1954 -2.87% -
1953 -3.01% -
1952 -7.21% -
1951 -11.5% -
1950 -12.7% -
1949 -10.4% -
1948 -7.65% -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - -
1939 0.48% -
1938 1.78% -
1937 1.06% -
1936 0.95% -
1935 0.72% -
1934 0.88% -
1933 -2.79% -
1932 -1.78% -
1931 -4% -
1930 -2.23% -
1929 -18.7% -
1928 -0.27% -
1927 2.65% -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 -8.96% -
1912 -7.43% -
1911 -4.61% -
1910 -1.53% -
1909 -2.64% -
1908 -1.54% -
1907 -1.23% -
1906 0.66% -
1905 0.91% -
1904 -0.04% -
1903 -0.22% -
1902 -1.67% -
1901 0.1% -
1900 0.41% -
1899 0.86% -
1898 -34.5% -
1897 -8.46% -
1896 0.82% -
1895 0.37% -
1894 2.91% -
1893 0.14% -
1892 -2.28% -
1891 -6.48% -
1890 -11.2% -
1889 -15.7% -
1888 -3.59% -
1887 -4.88% -
1886 -11.5% -
1885 -12.1% -
1884 -7.16% -
1883 -2.42% -
1882 -1.69% -
1881 -14.5% -
1880 -13.5% -

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/greece/libya | CC BY

In 2025, Greece's government surplus, the difference between spending and revenue, was $3.53B, equivalent to 1.26% of GDP. This compares to Libya's deficit of $14.9B, or 31.1% of GDP.

Over the past 36 years, Greece recorded a fiscal deficit in 31 of those years, while Libya ran a deficit in 15 years. On average, Greece posted an annual deficit equal to 6.29% of GDP, compared to surplus of 1.4% of GDP for Libya.

Inflation comparison by year

Inflation
Greece

Libya
1x
Year Consumer prices inflation
Greece Libya
2025 2.48% 1.84%
2024 2.74% 2.13%
2023 3.46% 2.37%
2022 9.65% 4.51%
2021 1.22% 2.87%
2020 -1.25% 1.45%
2019 0.25% -2.16%
2018 0.63% 13.2%
2017 1.12% 25.8%
2016 -0.83% 25.9%
2015 -1.74% 10.4%
2014 -1.31% 2.43%
2013 -0.92% 2.61%
2012 1.5% 6.06%
2011 3.33% 15.5%
2010 4.71% 2.8%
2009 1.21% 2.46%
2008 4.15% 10.4%
2007 2.9% 6.25%
2006 3.2% 1.46%
2005 3.55% 2.65%
2004 2.9% -2.2%
2003 3.53% -2.19%
2002 3.63% -9.8%
2001 3.37% -8.81%
2000 3.15% -2.9%
1999 2.64% 2.65%
1998 4.77% 3.71%
1997 5.54% 3.55%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/greece/libya | CC BY

Over the past 29 years, Greece has recorded an average annual inflation rate of 2.4%, compared with 4.3% in Libya. In 2025, inflation was 2.48% in Greece and 1.84% in Libya.

Top exports between countries

Greece
Export category Export value
Raw materials & minerals $794M
Processed food, beverages & tobacco $71.4M
Chemicals & pharma $19.4M
Miscellaneous $7.75M
Raw agricultural goods $3.77M
Machinery & equipment $2.56M
Wood & paper products $1.56M
Metals $848K
Textiles & consumer goods $291K
Animal & marine products $104K
Libya
Export category Export value
Raw materials & minerals $686M
Metals $7.32M
Machinery & equipment $1K
Textiles & consumer goods $1K

Balance of trade

Greece Libya
Current account balance
-$18.2B
2024
$1.86B
2023
Current account balance ranking
183/190
2024
44/190
2023
Current account balance, % of GDP
-7.11%
2024
+4.24%
2023
Goods imports
$91.2B
2024
$23.2B
2023
Goods exports
$52.6B
2024
$37.1B
2023
Service imports
$31.1B
2024
$10.1B
2023
Service exports
$55.8B
2024
$642M
2023
Imports of goods and services, % of GDP
44%
2025
65.9%
2025
Exports of goods and services, % of GDP
39.5%
2025
71.7%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Greece Libya
Economic freedom 63.2 35.9
Economic freedom ranking 82/197 189/197
Property rights 78 6.3
Government integrity 54.8 10.3
Judicial effectiveness 68 4.9
Tax burden 59.9 95
Government spending 24.7 0
Fiscal health 78.9 19.9
Business freedom 77.8 32.4
Labor freedom 59.7 48.2
Monetary freedom 72.6 75.2
Trade freedom 79.4 80
Investment freedom 55 5
Financial freedom 50 20

Economic freedom comparison by year

Greece
Libya
1x
Year Economic freedom index
Greece Libya
2026 63.2 -
2025 60.6 -
2024 55.1 -
2023 56.9 -
2022 61.5 -
2021 60.9 -
2020 59.9 -
2019 57.7 -
2018 57.3 -
2017 55 -
2016 53.2 -
2015 54 -
2014 55.7 -
2013 55.4 -
2012 55.4 35.9
2011 60.3 38.6
2010 62.7 40.2
2009 60.8 43.5
2008 60.6 38.7
2007 58.7 37
2006 60.1 33.2
2005 59 32.8
2004 59.1 31.5
2003 58.8 34.6
2002 59.1 35.4
2001 63.4 34
2000 61 34.7
1999 61 32.3
1998 60.6 32
1997 59.6 28.9
1996 60.5 31.7
1995 61.2 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/greece/libya | CC BY

The Economic Freedom Index for Greece is 63.2, ranking 82/197, compared to 35.9 for Libya, ranking 189/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Greece Libya
Services, % of GDP
67.4%
2025
26.9%
2025
Industry, % of GDP
15.2%
2025
73.2%
2025
Agriculture, forestry, and fishing, % of GDP
3.57%
2025
1.5%
2025
GNI, Atlas method
$264B
2025
$54.1B
2025
GNI per capita, PPP
$44,310
2025
$17,150
2025
Total reserves including gold
$24B
2025
$105B
2025
Total reserves ranking
63/177
2025
29/177
2025
Net foreign direct investment
-$4.52B
2024
-$795M
2023
Net inflows of foreign direct investment
$6.74B
2024
$0
2024
Net outflows of foreign direct investment
$2.22B
2024
-$56.5M
2024
Poverty at national poverty lines
18.8%
2021
7.4%
2005
Gross capital formation, % of GDP
17.2%
2025
14.3%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/greece/libya | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1880–1989, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2019–2025, retrieved 2026-07-08)
  7. Central Intelligence Agency (CIA) (2004–2005, retrieved 2026-07-08)
  8. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  9. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.