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Economy of Libya vs Pakistan compared: GDP & Debt

Updated on by Georank team

Libya has a GDP of $48.5B compared to $372B for Pakistan, ranking 95/197 and 43/197 by economy size, respectively.

Libya vs Pakistan GDP by year

Libya
Pakistan
1x
Year GDP, current $
Libya Pakistan
2024 $48,487,151,215 $371,570,000,121
2023 $44,027,664,915 $336,686,348,609
2022 $43,246,297,922 $374,890,295,667
2021 $35,217,995,647 $348,516,647,445
2020 $46,854,285,441 $300,425,609,818
2019 $69,254,496,472 $320,909,472,771
2018 $76,686,029,772 $356,128,166,705
2017 $67,157,452,182 $339,205,534,861
2016 $49,912,073,701 $313,630,000,130
2015 $48,717,501,321 $299,963,590,535
2014 $57,372,355,592 $271,390,474,858
2013 $75,351,107,029 $258,657,231,672
2012 $92,540,938,129 $250,106,966,105
2011 $48,169,263,294 $230,586,581,060
2010 $75,380,825,062 $196,709,621,850
2009 $60,808,562,033 $187,337,783,856
2008 $86,710,767,415 $202,203,748,584
2007 $68,032,978,391 $184,140,869,997
2006 $60,094,231,607 $161,871,385,506
2005 $47,334,691,241 $145,208,562,961
2004 $33,122,307,692 $132,216,048,339
2003 $26,265,625,000 $112,371,913,741
2002 $20,481,889,764 $97,923,302,809
2001 $34,112,093,927 $97,145,618,480
2000 $38,270,954,138 $99,484,802,345
1999 $35,975,860,857 $62,973,857,069
1998 $27,251,301,398 $62,191,955,814
1997 $30,700,897,875 $62,433,340,468
1996 $27,884,615,385 $63,320,170,084
1995 $25,541,379,187 $60,636,071,684
1994 $28,610,549,763 $52,293,470,813
1993 $30,660,051,911 $51,809,999,353
1992 $33,887,047,909 $48,884,671,947
1991 $31,991,821,265 $45,625,336,680
1990 $28,904,183,602 $40,010,423,970
1989 $25,156,707,899 $40,171,106,279
1988 $24,308,959,591 $38,472,742,808
1987 $26,697,659,335 $33,351,529,275
1986 $24,180,400,959 $31,899,070,056
1985 $31,530,566,324 $31,144,920,844
1984 $29,476,109,153 $31,151,825,467
1983 $33,200,520,140 $28,691,889,764
1982 $33,760,146,991 $30,725,971,564
1981 $36,374,353,880 $28,100,606,061
1980 $40,953,924,949 $23,654,444,444
1979 $30,536,429,497 $19,688,383,838
1978 $22,136,422,643 $17,811,515,152
1977 $22,428,297,108 $15,126,060,606
1976 $19,096,943,017 $13,168,080,808
1975 $14,710,912,458 $11,230,606,061
1974 $15,112,543,717 $8,899,191,919
1973 $8,625,889,430 $6,383,429,490
1972 $6,299,395,544 $9,415,016,360
1971 $5,260,185,125 $10,665,896,682
1970 $4,601,649,451 $10,027,509,450
1969 $4,380,987,481 $8,683,116,338
1968 $3,850,623,095 $8,041,999,160
1967 $2,726,986,913 $7,464,510,710
1966 $2,312,438,536 $6,561,108,778
1965 $1,804,979,680 $5,929,231,415
1964 $1,341,395,421 $5,204,955,901
1963 $892,327,911 $4,630,827,383
1962 $619,725,785 $4,310,163,797
1961 $443,905,612 $4,118,647,627
1960 $401,644,249 $3,749,265,015

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

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

GDP per capita in Libya vs Pakistan by year

Libya
GDP per capita

GDP per capita, PPP
Pakistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Libya Pakistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,569 $14,304 $1,479 $6,252
2023 $6,027 $13,847 $1,360 $6,014
2022 $5,987 $12,266 $1,538 $5,920
2021 $4,936 $12,642 $1,455 $5,367
2020 $6,650 $10,955 $1,278 $5,048
2019 $9,963 $16,194 $1,390 $5,038
2018 $11,197 $18,879 $1,569 $4,979
2017 $9,966 $18,026 $1,519 $4,790
2016 $7,526 $16,961 $1,425 $4,631
2015 $7,458 $17,903 $1,380 $4,480
2014 $8,926 $17,510 $1,267 $4,313
2013 $11,952 $21,151 $1,225 $4,174
2012 $14,976 $26,826 $1,204 $4,047
2011 $7,594 $15,698 $1,132 $3,880
2010 $11,601 $30,234 $987 $3,786
2009 $9,551 $29,027 $964 $3,777
2008 $13,906 $30,812 $1,067 $3,721
2007 $11,145 $30,929 $998 $3,672
2006 $10,049 $28,936 $901 $3,515
2005 $8,079 $26,903 $828 $3,293
2004 $5,774 $23,813 $772 $3,048
2003 $4,674 $22,663 $672 $2,822
2002 $3,718 $20,061 $600 $2,688
2001 $6,313 $20,332 $610 $2,644
2000 $7,214 $20,617 $642 $2,565
1999 $6,895 $19,769 $418 $2,475
1998 $5,301 $19,639 $424 $2,419
1997 $6,062 $20,439 $438 $2,398
1996 $5,591 $19,392 $457 $2,401
1995 $5,205 $18,952 $451 $2,315
1994 $5,933 $19,318 $400 $2,224
1993 $6,478 $18,904 $408 $2,160
1992 $7,303 $19,572 $396 $2,132
1991 $7,040 $20,085 $380 $1,992
1990 $6,502 $17,173 $344 $1,895
1989 $5,793 - $358 -
1988 $5,736 - $354 -
1987 $6,465 - $317 -
1986 $6,019 - $314 -
1985 $8,087 - $317 -
1984 $7,811 - $327 -
1983 $8,927 - $311 -
1982 $9,064 - $345 -
1981 $10,044 - $328 -
1980 $11,960 - $287.4 -
1979 $9,443 - $249.2 -
1978 $7,252 - $233.4 -
1977 $7,783 - $204.7 -
1976 $7,018 - $183.9 -
1975 $5,721 - $161.7 -
1974 $6,214 - $132 -
1973 $3,727 - $97.5 -
1972 $2,830 - $148.1 -
1971 $2,443 - $172.5 -
1970 $2,210 - $166.7 -
1969 $2,175 - $148.5 -
1968 $1,972 - $141.6 -
1967 $1,437 - $135.2 -
1966 $1,251 - $122.2 -
1965 $1,001 - $113.6 -
1964 $765 - $102.5 -
1963 $528 - $93.7 -
1962 $382 - $89.5 -
1961 $285.3 - $87.8 -
1960 $269 - $82 -

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

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

Libya's GDP per capita is $6,569, ranking 107/197, compared to $1,479 in Pakistan, ranking 163/197. Adjusted for purchasing power (GDP per capita PPP), Libya ranks 118th at $14,304, while Pakistan ranks 150th at $6,252.

Economic indicators

Libya Pakistan
Gross domestic product
$48.5B
2024
$372B
2024
GDP rank
95/197
2024
43/197
2024
GDP growth
1.9%
2023-2024
3.05%
2023-2024
GDP per capita
$6,569
2024
$1,479
2024
GDP per capita rank
107/197
2024
163/197
2024
GDP per capita, PPP
$14,304
2024
$6,252
2024
GDP per capita PPP rank
118/197
2024
150/197
2024
Government debt n/a
$262B
2024
Debt-to-GDP ratio n/a
70.4%
2024
Government debt per person n/a
$1,041
2024
Government debt per person rank n/a
140/185
2024
Average annual personal income after taxes
$3,172
2026
$1,668
2026
Market capitalization of domestic companies n/a
$52.1B
2024
Income share by richest 10% n/a
25.5%
2018
Income share by poorest 10% n/a
4.2%
2018
Government expenditure, % of GDP
94.8%
2024
19.5%
2024
Consumer prices inflation
2.13%
2023-2024
12.6%
2023-2024
Central bank interest rate n/a
10.5%
2025
Unemployment rate
30%
2004
6.96%
2025
Population
7559873
260356147

Government deficit by year

Deficit/surplus
Libya

Pakistan
1x
Year Deficit/surplus, % of GDP
Libya Pakistan
2024 -25.1% -6.81%
2023 8.22% -7.76%
2022 23.6% -7.84%
2021 14.8% -6.04%
2020 -22.3% -7.03%
2019 11.9% -7.79%
2018 9.39% -5.67%
2017 -11.1% -5.17%
2016 -29.3% -3.92%
2015 -28.5% -4.74%
2014 -30.5% -4.37%
2013 -16.3% -7.48%
2012 24.6% -7.74%
2011 -11.5% -6.23%
2010 11.5% -5.42%
2009 -5.46% -4.53%
2008 27.7% -5.94%
2007 28.4% -4.23%
2006 29.1% -2.79%
2005 30.4% -2.29%
2004 11.3% -1.29%
2003 6.17% -0.12%
2002 6.99% -2.64%
2001 0.07% -2.45%
2000 13.6% -3.21%
1999 5.69% -3.07%
1998 -2.36% -4.46%
1997 -2.1% -3.87%
1996 11.3% -4.33%
1995 3.8% -3.9%
1994 -2.67% -3.63%
1993 -5.77% -5.53%
1992 0.11% -11.3%
1991 8.41% -10.8%
1990 3.36% -11.9%
1989 - -7.01%
1988 - -9.35%
1987 - -11.7%
1986 - -9.79%
1985 - -10.6%
1984 - -8.9%
1983 - -7.55%
1982 - -8.24%
1981 - -5.83%
1980 - -5.32%
1979 - -11.6%
1978 - -12.4%
1977 - -8.74%
1976 - -9.05%
1975 - -8.97%
1974 - -4.45%
1973 - -3.99%
1972 - -3.16%
1971 - -7.45%
1970 - -10.8%
1969 - -7.08%
1968 - -5.56%
1967 - -4.27%
1966 - -4.48%
1965 - -3.28%
1964 - -4.89%
1963 - -6.55%
1962 - -3.39%
1961 - -4.6%
1960 - -3.83%
1959 - -3.71%
1958 - -4.2%
1957 - -2.21%
1956 - -2.36%
1955 - -2%
1954 - -3.18%
1953 - -2.66%
1952 - -0.73%
1951 - 0.63%
1950 - -1.24%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1992, retrieved 2026-02-20).

GeoRank.org/economy/libya/pakistan | 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 Pakistan's deficit of $25.3B, or 6.81% of GDP.

Over the past 35 years, Libya recorded a fiscal deficit in 13 of those years, while Pakistan ran a deficit in 35 years. On average, Libya posted an annual surplus equal to 2.79% of GDP, compared to deficit of 5.32% of GDP for Pakistan.

Inflation comparison by year

Inflation
Libya

Pakistan
1x
Year Consumer prices inflation
Libya Pakistan
2024 2.13% 12.6%
2023 2.37% 30.8%
2022 4.51% 19.9%
2021 2.87% 9.5%
2020 1.45% 9.74%
2019 -2.16% 10.6%
2018 13.2% 5.08%
2017 25.8% 4.09%
2016 25.9% 3.77%
2015 10.4% 2.53%
2014 2.43% 7.19%
2013 2.61% 7.69%
2012 6.06% 9.68%
2011 15.5% 11.9%
2010 2.8% 12.9%
2009 2.46% 13.6%
2008 10.4% 20.3%
2007 6.25% 7.6%
2006 1.46% 7.92%
2005 2.65% 9.06%
2004 -2.2% 7.44%
2003 -2.19% 2.91%
2002 -9.8% 3.29%
2001 -8.81% 3.15%
2000 -2.9% 4.37%
1999 2.65% 4.14%
1998 3.71% 6.23%
1997 3.55% 11.4%

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

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

Over the past 28 years, Libya has recorded an average annual inflation rate of 4.39%, compared with 9.26% in Pakistan. In 2024, inflation was 2.13% in Libya and 12.6% in Pakistan.

Top exports between countries

Libya
Export category Export value
Metals $4.45M
Machinery & equipment $302K
Miscellaneous $2K
Pakistan
Export category Export value
Textiles & consumer goods $7.28M
Chemicals & pharma $1.57M
Processed food, beverages & tobacco $1.33M
Raw agricultural goods $1.25M
Machinery & equipment $816K
Raw materials & minerals $75K
Weapons & explosives $67K
Wood & paper products $20K
Animal & marine products $4K
Miscellaneous $4K

Balance of trade

Libya Pakistan
Current account balance
$1.86B
2023
$496M
2024
Current account balance ranking
46/190
2023
63/190
2024
Current account balance, % of GDP
+4.24%
2023
+0.13%
2024
Goods imports
$23.2B
2023
$55.6B
2024
Goods exports
$37.1B
2023
$32.1B
2024
Service imports
$10.1B
2023
$11.2B
2024
Service exports
$642M
2023
$8.1B
2024
Imports of goods and services, % of GDP
56.8%
2024
17.2%
2024
Exports of goods and services, % of GDP
72%
2024
10.4%
2024

Economic freedom indices

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

Libya Pakistan
Economic freedom 35.9 48.9
Economic freedom ranking 189/197 168/197
Property rights 6.3 25.7
Government integrity 10.3 26.3
Judicial effectiveness 4.9 27.6
Tax burden 95 78.2
Government spending 0 88.5
Fiscal health 19.9 10.1
Business freedom 32.4 54.4
Labor freedom 48.2 51.7
Monetary freedom 75.2 54.1
Trade freedom 80 70.4
Investment freedom 5 60
Financial freedom 20 40

Economic freedom comparison by year

Libya
Pakistan
1x
Year Economic freedom index
Libya Pakistan
2026 - 48.9
2025 - 49.1
2024 - 49.5
2023 - 49.4
2022 - 48.8
2021 - 51.7
2020 - 54.8
2019 - 55
2018 - 54.4
2017 - 52.8
2016 - 55.9
2015 - 55.6
2014 - 55.2
2013 - 55.1
2012 35.9 54.7
2011 38.6 55.1
2010 40.2 55.2
2009 43.5 57
2008 38.7 55.6
2007 37 57.2
2006 33.2 57.9
2005 32.8 53.3
2004 31.5 54.9
2003 34.6 55
2002 35.4 55.8
2001 34 56
2000 34.7 56.4
1999 32.3 53
1998 32 53.2
1997 28.9 56
1996 31.7 58.4
1995 - 57.6

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

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

The Economic Freedom Index for Libya is 35.9, ranking 189/197, compared to 48.9 for Pakistan, ranking 168/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Libya Pakistan
Services, % of GDP
28.3%
2024
50.7%
2024
Industry, % of GDP
73.5%
2024
20.2%
2024
Agriculture, forestry, and fishing, % of GDP
2.39%
2024
23.7%
2024
GNI, Atlas method
$50.9B
2024
$358B
2024
GNI per capita, PPP
$15,400
2024
$6,100
2024
Total reserves including gold
$92.9B
2024
$18.4B
2024
Total reserves ranking
29/177
2024
63/177
2024
Net foreign direct investment
-$795M
2023
-$2.58B
2024
Net inflows of foreign direct investment
$0
2024
$2.66B
2024
Net outflows of foreign direct investment
-$56.5M
2024
$84M
2024
Servicing debt to the IMF, % of GNI n/a
4.5%
2024
Poverty at national poverty lines
7.4%
2005
21.9%
2018
Gross capital formation, % of GDP
14.3%
2024
13.2%
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/pakistan | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1992, 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. TradeMap (2019–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2004–2005, retrieved 2026-02-20)
  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.