Libya vs Somalia: Economic Indicators Comparison

Libya with a GDP of $48.4B ranked the 86th largest economy in the world, while Somalia ranked 159th with $4.7B. By GDP 5-years average growth and GDP per capita, Libya and Somalia ranked 144th vs 97th and 91st vs 196th, respectively.

Gross Domestic Product & Income

Stat	Libya	Somalia
GDP	$48.4B	$4.7B
GDP growth, 1 year	17.9%	3.1%
GDP growth, 5-years average	1.7%	2.9%
Population	6.7M	11M
GDP per capita	$7.2k	$315
GDP per capita growth	6.37%	-2.74%
Purchasing Power Parity conversion factor	0.48	11427.68
Price level ratio of PPP conversion factor GDP to market exchange rate	0.35	N/A
GDP per capita, PPP adjusted	$11k	$500
GNI, Atlas method	$42.8B	$959.2M
GNI per capita	$6.4k	$130
GNI, PPP adjusted	$142.5B	N/A
GNI per capita, PPP adjusted	$21k	N/A

Financial system and Human development

Stat	Libya	Somalia
Income Tax Rate	10%	N/A
Corporate Tax Rate	N/A	N/A
Inflation, consumer prices	23.1%	1.5%
Inflation, GDP deflator	15.8%	215.5%
Unemployment	17.3%	14%
Economic Freedom Index	47	29
Personal Freedom Index	5.17	3.6
Human Freedom Index	4.98	3.4
Property Rights Index	30.1	20.1
Judical Effectiveness Index	20.8	26.5
Business Freedom Index	40.7	31.6
Fiscal Health Index	N/A	N/A
Labor Freedom Index	53.9	N/A
Investment Freedom Index	5	N/A
Financial Freedom Index	N/A	N/A
Trade Freedom Index	N/A	N/A
Monetary Freedom Index	53.6	N/A
Government Spending Index	0	N/A
Tax Burden Index	N/A	N/A
Government Integrity Index	18.9	13.1
Corruption Perceptions Index	17	10
Life expectancy at birth, years	72.5	56.7
Suicide mortality rate, per 100,000 people	5.2	4.7
Mortality caused by road traffic injury, per 100,000 people	26.1	27.1
Intentional homicides, per 100,000 people	2.5	4.3
International tourism, number of arrivals	142k	N/A

Government debt & reserves

Stat	Libya	Somalia
Central government debt, % of GDP	4.9%	N/A
External debt stocks, % of GNI	N/A	39.4%
External debt stocks	N/A	$2.9B
Short-term debt, % of total reserves	N/A	847.9%
Total debt service, % of exports and primary income	N/A	47.6%
Adjusted net savings including particulate emission damage, % of GNI	35%	N/A
Gross savings, % of GDP	67.3%	N/A
Gross capital formation, % of GDP	29.8%	15.5%
Total reserves including gold	$85.3B	$23.1M
Foreign direct investment net inflows	$0	$409M

Exports, imports and economic structure

Stat	Libya	Somalia
Exports of goods and services, % of GDP	62.2%	25.9%
Imports of goods and services, % of GDP	40.1%	99.6%
Current account balance (balance of payments)	-$4.7B	N/A
Revenue excluding grants, % of GDP	N/A	0%
Grants excluding technical cooperation, BoP	$268.9M	$1.5B
Personal remittances received	$16M	$21.7M
Industry including construction value added, % of GDP	77.5%	9.5%
Agriculture, forestry and fishing value added, % of GDP	1.8%	62.7%
Charges for the use of intellectual property, payments BoP	N/A	N/A
Charges for the use of intellectual property, receipts BoP	$10M	N/A
Expense, % of GDP	N/A	0%
Government Expenditure, % of GDP	105.8%	N/A