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Economy of Libya vs Mexico compared: GDP & Debt

Updated on by Georank team

Libya has a GDP of $48.5B compared to $1.86T for Mexico, ranking 95/197 and 13/197 by economy size, respectively.

Libya vs Mexico GDP by year

Libya
Mexico
1x
Year GDP, current $
Libya Mexico
2024 $48,487,151,215 $1,856,365,616,166
2023 $44,027,664,915 $1,798,317,581,487
2022 $43,246,297,922 $1,466,934,724,293
2021 $35,217,995,647 $1,316,569,466,686
2020 $46,854,285,441 $1,121,064,767,308
2019 $69,254,496,472 $1,304,106,203,902
2018 $76,686,029,772 $1,256,300,182,880
2017 $67,157,452,182 $1,190,721,475,906
2016 $49,912,073,701 $1,112,233,497,453
2015 $48,717,501,321 $1,213,294,467,717
2014 $57,372,355,592 $1,364,507,717,614
2013 $75,351,107,029 $1,327,436,290,283
2012 $92,540,938,129 $1,255,110,424,818
2011 $48,169,263,294 $1,229,013,703,417
2010 $75,380,825,062 $1,105,424,238,731
2009 $60,808,562,033 $943,437,415,025
2008 $86,710,767,415 $1,161,553,459,715
2007 $68,032,978,391 $1,102,355,554,972
2006 $60,094,231,607 $1,020,265,057,882
2005 $47,334,691,241 $917,571,853,529
2004 $33,122,307,692 $819,459,227,375
2003 $26,265,625,000 $765,549,967,703
2002 $20,481,889,764 $810,666,116,402
2001 $34,112,093,927 $796,064,590,549
2000 $38,270,954,138 $742,061,329,749
1999 $35,975,860,857 $631,249,359,702
1998 $27,251,301,398 $557,461,102,631
1997 $30,700,897,875 $523,449,530,464
1996 $27,884,615,385 $432,157,945,024
1995 $25,541,379,187 $380,157,469,867
1994 $28,610,549,763 $553,618,247,901
1993 $30,660,051,911 $530,160,763,663
1992 $33,887,047,909 $363,157,832,924
1991 $31,991,821,265 $313,139,656,146
1990 $28,904,183,602 $261,253,675,693
1989 $25,156,707,899 $221,403,098,267
1988 $24,308,959,591 $181,611,150,497
1987 $26,697,659,335 $147,542,558,209
1986 $24,180,400,959 $134,556,034,673
1985 $31,530,566,324 $195,241,069,482
1984 $29,476,109,153 $184,230,754,105
1983 $33,200,520,140 $156,167,000,433
1982 $33,760,146,991 $184,602,611,610
1981 $36,374,353,880 $263,797,827,860
1980 $40,953,924,949 $205,577,055,466
1979 $30,536,429,497 $134,531,900,899
1978 $22,136,422,643 $102,648,570,299
1977 $22,428,297,108 $81,912,018,784
1976 $19,096,943,017 $88,875,923,765
1975 $14,710,912,458 $88,000,000,000
1974 $15,112,543,717 $72,000,000,000
1973 $8,625,889,430 $55,280,000,000
1972 $6,299,395,544 $45,200,000,000
1971 $5,260,185,125 $39,200,000,000
1970 $4,601,649,451 $35,520,000,000
1969 $4,380,987,481 $32,480,000,000
1968 $3,850,623,095 $29,360,000,000
1967 $2,726,986,913 $26,560,000,000
1966 $2,312,438,536 $24,320,000,000
1965 $1,804,979,680 $21,840,000,000
1964 $1,341,395,421 $20,080,000,000
1963 $892,327,911 $16,960,000,000
1962 $619,725,785 $15,200,000,000
1961 $443,905,612 $14,160,000,000
1960 $401,644,249 $13,040,000,000

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Libya vs Mexico by year

Libya
GDP per capita

GDP per capita, PPP
Mexico
GDP per capita

GDP per capita, PPP
1x
Year Current $
Libya Mexico
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,569 $14,304 $14,186 $26,185
2023 $6,027 $13,847 $13,861 $25,243
2022 $5,987 $12,266 $11,406 $23,135
2021 $4,936 $12,642 $10,314 $20,783
2020 $6,650 $10,955 $8,841 $19,354
2019 $9,963 $16,194 $10,370 $20,964
2018 $11,197 $18,879 $10,085 $20,921
2017 $9,966 $18,026 $9,649 $20,489
2016 $7,526 $16,961 $9,098 $20,105
2015 $7,458 $17,903 $10,021 $19,071
2014 $8,926 $17,510 $11,391 $18,821
2013 $11,952 $21,151 $11,217 $18,170
2012 $14,976 $26,826 $10,744 $18,005
2011 $7,594 $15,698 $10,664 $17,267
2010 $11,601 $30,234 $9,729 $15,909
2009 $9,551 $29,027 $8,424 $15,191
2008 $13,906 $30,812 $10,524 $15,681
2007 $11,145 $30,929 $10,134 $15,032
2006 $10,049 $28,936 $9,513 $14,540
2005 $8,079 $26,903 $8,672 $13,260
2004 $5,774 $23,813 $7,850 $12,658
2003 $4,674 $22,663 $7,434 $12,066
2002 $3,718 $20,061 $7,983 $11,762
2001 $6,313 $20,332 $7,953 $11,739
2000 $7,214 $20,617 $7,524 $11,705
1999 $6,895 $19,769 $6,500 $11,031
1998 $5,301 $19,639 $5,833 $10,756
1997 $6,062 $20,439 $5,567 $10,182
1996 $5,591 $19,392 $4,674 $9,496
1995 $5,205 $18,952 $4,184 $8,933
1994 $5,933 $19,318 $6,202 $9,466
1993 $6,478 $18,904 $6,048 $9,041
1992 $7,303 $19,572 $4,221 $9,470
1991 $7,040 $20,085 $3,709 $9,079
1990 $6,502 $17,173 $3,154 $8,578
1989 $5,793 - $2,725 -
1988 $5,736 - $2,279 -
1987 $6,465 - $1,888 -
1986 $6,019 - $1,757 -
1985 $8,087 - $2,602 -
1984 $7,811 - $2,506 -
1983 $8,927 - $2,170 -
1982 $9,064 - $2,621 -
1981 $10,044 - $3,829 -
1980 $11,960 - $3,055 -
1979 $9,443 - $2,049 -
1978 $7,252 - $1,604 -
1977 $7,783 - $1,315 -
1976 $7,018 - $1,465 -
1975 $5,721 - $1,492 -
1974 $6,214 - $1,256 -
1973 $3,727 - $993 -
1972 $2,830 - $837 -
1971 $2,443 - $748 -
1970 $2,210 - $699 -
1969 $2,175 - $660 -
1968 $1,972 - $616 -
1967 $1,437 - $576 -
1966 $1,251 - $545 -
1965 $1,001 - $506 -
1964 $765 - $481 -
1963 $528 - $420 -
1962 $382 - $388 -
1961 $285.3 - $374 -
1960 $269 - $355 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Libya's GDP per capita is $6,569, ranking 107/197, compared to $14,186 in Mexico, ranking 69/197. Adjusted for purchasing power (GDP per capita PPP), Libya ranks 118th at $14,304, while Mexico ranks 80th at $26,185.

Economic indicators

Libya Mexico
Gross domestic product
$48.5B
2024
$1.86T
2024
GDP rank
95/197
2024
13/197
2024
GDP growth
1.9%
2023-2024
1.43%
2023-2024
GDP per capita
$6,569
2024
$14,186
2024
GDP per capita rank
107/197
2024
69/197
2024
GDP per capita, PPP
$14,304
2024
$26,185
2024
GDP per capita PPP rank
118/197
2024
80/197
2024
Government debt n/a
$1.08T
2024
Debt-to-GDP ratio n/a
58.3%
2024
Government debt per person n/a
$8,272
2024
Government debt per person rank n/a
63/185
2024
Average annual personal income after taxes
$3,172
2026
$10,231
2026
Market capitalization of domestic companies n/a
$418B
2024
Number of millionaires n/a
399,000
2025
Number of billionaires n/a
22
2025
Income share by richest 10% n/a
34.4%
2022
Income share by poorest 10% n/a
2.1%
2022
Government expenditure, % of GDP
94.8%
2024
30.3%
2024
Consumer prices inflation
2.13%
2023-2024
4.72%
2023-2024
Central bank interest rate n/a
7%
2025
Unemployment rate
30%
2004
2.62%
2024
Population
7559873
133323134

Government deficit by year

Deficit/surplus
Libya

Mexico
1x
Year Deficit/surplus, % of GDP
Libya Mexico
2024 -25.1% -5.73%
2023 8.22% -4.29%
2022 23.6% -4.32%
2021 14.8% -3.75%
2020 -22.3% -4.29%
2019 11.9% -2.27%
2018 9.39% -2.14%
2017 -11.1% -1.03%
2016 -29.3% -2.68%
2015 -28.5% -3.86%
2014 -30.5% -4.37%
2013 -16.3% -3.56%
2012 24.6% -3.57%
2011 -11.5% -3.2%
2010 11.5% -3.8%
2009 -5.46% -3.94%
2008 27.7% -0.68%
2007 28.4% -1.46%
2006 29.1% -1.23%
2005 30.4% -1.43%
2004 11.3% -1.35%
2003 6.17% -2.24%
2002 6.99% -2.18%
2001 0.07% -2.57%
2000 13.6% -2.69%
1999 5.69% -4.49%
1998 -2.36% -4.49%
1997 -2.1% -3.48%
1996 11.3% -3.66%
1995 3.8% -2.28%
1994 -2.67% -2.25%
1993 -5.77% -1.51%
1992 0.11% 2.26%
1991 8.41% 1.49%
1990 3.36% -3.11%
1989 - -4.75%
1988 - -8.76%
1987 - -11.6%
1986 - -11.2%
1985 - -7.2%
1984 - -5.79%
1983 - -6.03%
1982 - -11.4%
1981 - -4.9%
1980 - -1.75%
1979 - -2.15%
1978 - -1.88%
1977 - -2.43%
1976 - -3.14%
1975 - -2.64%
1974 - -3.33%
1973 - -2.75%
1972 - -2.3%
1971 - -1.43%
1970 - -1.71%
1969 - -2.74%
1968 - -2.06%
1967 - -2.12%
1966 - -3.2%
1965 - -2.51%
1964 - -1.44%
1963 - -0.92%
1962 - -0.79%
1961 - -0.88%
1960 - -1.36%
1959 - -0.73%
1958 - 0.24%
1957 - -0.03%
1956 - 0.52%
1955 - 0.6%
1954 - -0.94%
1953 - -0.58%
1952 - 0.42%
1951 - -0.26%
1950 - -0.2%
1949 - 0.44%
1948 - -1.55%
1947 - -0.93%
1946 - 0.66%
1945 - -1.11%
1944 - -1.12%
1943 - 0.05%
1942 - -0.93%
1941 - -0.26%
1940 - -0.4%
1939 - -0.06%
1938 - -0.91%
1937 - -0.41%
1936 - -0.39%
1935 - 0.26%
1934 - 0.72%
1933 - -0.58%
1932 - 0%
1931 - 0.71%
1930 - 0.21%
1929 - 0.95%
1928 - 0.24%
1927 - -0.3%
1926 - -0.29%
1925 - 0.46%
1924 - 1.34%
1923 - 1.02%
1922 - 1.13%
1921 - 0.64%
1920 - 0.91%
1919 - 0.41%
1918 - -0.19%
1917 - 0.63%
1916 - -
1915 - -
1914 - -
1913 - 0.28%
1912 - -0.79%
1911 - -0.31%
1910 - 0.1%
1909 - 0.15%
1908 - -0.08%
1907 - 0.43%
1906 - 0.72%
1905 - 0.35%
1904 - 1.09%
1903 - 3.82%
1902 - 0.42%
1901 - 0.62%
1900 - 0.76%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1900–1989, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Libya's government deficit, the difference between spending and revenue, was $12.1B, equivalent to 25.1% of GDP. This compares to Mexico's deficit of $106B, or 5.73% of GDP.

Over the past 35 years, Libya recorded a fiscal deficit in 13 of those years, while Mexico ran a deficit in 33 years. On average, Libya posted an annual surplus equal to 2.79% of GDP, compared to deficit of 2.69% of GDP for Mexico.

Inflation comparison by year

Inflation
Libya

Mexico
1x
Year Consumer prices inflation
Libya Mexico
2024 2.13% 4.72%
2023 2.37% 5.53%
2022 4.51% 7.9%
2021 2.87% 5.69%
2020 1.45% 3.4%
2019 -2.16% 3.64%
2018 13.2% 4.9%
2017 25.8% 6.04%
2016 25.9% 2.82%
2015 10.4% 2.72%
2014 2.43% 4.02%
2013 2.61% 3.81%
2012 6.06% 4.11%
2011 15.5% 3.41%
2010 2.8% 4.16%
2009 2.46% 5.3%
2008 10.4% 5.12%
2007 6.25% 3.97%
2006 1.46% 3.63%
2005 2.65% 3.99%
2004 -2.2% 4.69%
2003 -2.19% 4.55%
2002 -9.8% 5.03%
2001 -8.81% 6.37%
2000 -2.9% 9.49%
1999 2.65% 16.6%
1998 3.71% 15.9%
1997 3.55% 20.6%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Libya has recorded an average annual inflation rate of 4.39%, compared with 6.15% in Mexico. In 2024, inflation was 2.13% in Libya and 4.72% in Mexico.

Top exports between countries

Libya
Export category Export value
Mexico
Export category Export value
Metals $7.32M
Machinery & equipment $682K

Balance of trade

Libya Mexico
Current account balance
$1.86B
2023
-$16.7B
2024
Current account balance ranking
46/190
2023
181/190
2024
Current account balance, % of GDP
+4.24%
2023
-0.9%
2024
Goods imports
$23.2B
2023
$637B
2024
Goods exports
$37.1B
2023
$618B
2024
Service imports
$10.1B
2023
$72B
2024
Service exports
$642M
2023
$63B
2024
Imports of goods and services, % of GDP
56.8%
2024
37.9%
2024
Exports of goods and services, % of GDP
72%
2024
36.7%
2024

Economic freedom indices

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

Libya Mexico
Economic freedom 35.9 59.8
Economic freedom ranking 189/197 102/197
Property rights 6.3 37.6
Government integrity 10.3 28.8
Judicial effectiveness 4.9 40.4
Tax burden 95 75.4
Government spending 0 74.6
Fiscal health 19.9 56.7
Business freedom 32.4 67
Labor freedom 48.2 57.3
Monetary freedom 75.2 70.6
Trade freedom 80 74.2
Investment freedom 5 75
Financial freedom 20 60

Economic freedom comparison by year

Libya
Mexico
1x
Year Economic freedom index
Libya Mexico
2026 - 59.8
2025 - 61.3
2024 - 62
2023 - 63.2
2022 - 63.7
2021 - 65.5
2020 - 66
2019 - 64.7
2018 - 64.8
2017 - 63.6
2016 - 65.2
2015 - 66.4
2014 - 66.8
2013 - 67
2012 35.9 65.3
2011 38.6 67.8
2010 40.2 68.3
2009 43.5 65.8
2008 38.7 66.2
2007 37 66
2006 33.2 64.7
2005 32.8 65.2
2004 31.5 66
2003 34.6 65.3
2002 35.4 63
2001 34 60.6
2000 34.7 59.3
1999 32.3 58.5
1998 32 57.9
1997 28.9 57.1
1996 31.7 61.2
1995 - 63.1

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Libya is 35.9, ranking 189/197, compared to 59.8 for Mexico, ranking 102/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Libya Mexico
Services, % of GDP
28.3%
2024
58.1%
2024
Industry, % of GDP
73.5%
2024
31.8%
2024
Agriculture, forestry, and fishing, % of GDP
2.39%
2024
3.72%
2024
GNI, Atlas method
$50.9B
2024
$1.68T
2024
GNI per capita, PPP
$15,400
2024
$25,460
2024
Total reserves including gold
$92.9B
2024
$232B
2024
Total reserves ranking
29/177
2024
16/177
2024
Net foreign direct investment
-$795M
2023
-$32.3B
2024
Net inflows of foreign direct investment
$0
2024
$45.5B
2024
Net outflows of foreign direct investment
-$56.5M
2024
$13B
2024
Servicing debt to the IMF, % of GNI n/a
3.71%
2024
Poverty at national poverty lines
7.4%
2005
29.6%
2024
Gross capital formation, % of GDP
14.3%
2024
24.1%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1900–1989, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. Central Intelligence Agency (CIA) (2004–2005, retrieved 2026-02-20)
  7. TradeMap (2020, retrieved 2026-02-08)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. LivingCost (2026, retrieved 2025-10-14)

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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.