Libya has a GDP of $46.6B compared to $12B for South Sudan, ranking 96/197 and 150/197 by economy size, respectively.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Libya
|
South Sudan
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $401,644,249 | $4,206,979,770 | - | - |
| 1961 | $443,905,612 | $4,623,294,239 | - | - |
| 1962 | $619,725,785 | $6,127,004,092 | - | - |
| 1963 | $892,327,911 | $8,272,704,007 | - | - |
| 1964 | $1,341,395,421 | $12,001,351,827 | - | - |
| 1965 | $1,804,979,680 | $15,379,597,828 | - | - |
| 1966 | $2,312,438,536 | $18,238,997,837 | - | - |
| 1967 | $2,726,986,913 | $20,265,366,359 | - | - |
| 1968 | $3,850,623,095 | $27,128,012,832 | - | - |
| 1969 | $4,380,987,481 | $30,678,497,534 | - | - |
| 1970 | $4,601,649,451 | $32,197,312,919 | - | - |
| 1971 | $5,260,185,125 | $30,498,091,672 | - | - |
| 1972 | $6,299,395,544 | $33,281,298,886 | - | - |
| 1973 | $8,625,889,430 | $33,925,831,082 | - | - |
| 1974 | $15,112,543,717 | $41,455,139,018 | - | - |
| 1975 | $14,710,912,458 | $43,125,063,344 | - | - |
| 1976 | $19,096,943,017 | $52,992,488,552 | - | - |
| 1977 | $22,428,297,108 | $57,683,765,284 | - | - |
| 1978 | $22,136,422,643 | $59,590,166,895 | - | - |
| 1979 | $30,536,429,497 | $64,928,319,577 | - | - |
| 1980 | $40,953,924,949 | $65,373,260,707 | - | - |
| 1981 | $36,374,353,880 | $52,828,013,782 | - | - |
| 1982 | $33,760,146,991 | $54,310,397,843 | - | - |
| 1983 | $33,200,520,140 | $52,967,721,371 | - | - |
| 1984 | $29,476,109,153 | $50,297,204,632 | - | - |
| 1985 | $31,530,566,324 | $54,485,341,416 | - | - |
| 1986 | $24,180,400,959 | $48,299,889,591 | - | - |
| 1987 | $26,697,659,335 | $41,198,814,143 | - | - |
| 1988 | $24,308,959,591 | $44,321,281,890 | - | - |
| 1989 | $25,156,707,899 | $47,512,155,858 | - | - |
| 1990 | $28,904,183,602 | $49,279,670,598 | - | - |
| 1991 | $31,991,821,265 | $56,994,467,921 | - | - |
| 1992 | $33,887,047,909 | $55,448,621,741 | - | - |
| 1993 | $30,660,051,911 | $53,361,983,286 | - | - |
| 1994 | $28,610,549,763 | $54,394,423,864 | - | - |
| 1995 | $25,541,379,187 | $53,186,646,293 | - | - |
| 1996 | $27,884,615,385 | $54,321,714,851 | - | - |
| 1997 | $30,700,897,875 | $57,153,327,139 | - | - |
| 1998 | $27,251,301,398 | $55,123,101,078 | - | - |
| 1999 | $35,975,860,857 | $55,536,336,508 | - | - |
| 2000 | $38,270,954,138 | $57,579,668,503 | - | - |
| 2001 | $34,112,093,927 | $56,564,631,725 | - | - |
| 2002 | $20,481,889,764 | $56,022,234,981 | - | - |
| 2003 | $26,265,625,000 | $63,314,109,953 | - | - |
| 2004 | $33,122,307,692 | $66,138,956,973 | - | - |
| 2005 | $47,334,691,241 | $73,990,151,521 | - | - |
| 2006 | $60,094,231,607 | $78,799,900,129 | - | - |
| 2007 | $68,032,978,391 | $83,709,120,342 | - | - |
| 2008 | $86,710,767,415 | $83,573,471,187 | $14,586,253,383 | $20,185,217,786 |
| 2009 | $60,808,562,033 | $79,896,086,549 | $12,231,264,525 | $21,202,884,179 |
| 2010 | $75,380,825,062 | $83,912,660,700 | $14,602,072,411 | $22,367,646,895 |
| 2011 | $48,169,263,294 | $41,672,273,291 | $14,907,308,933 | $21,329,717,233 |
| 2012 | $92,540,938,129 | $77,854,953,190 | $11,931,472,169 | $11,500,530,835 |
| 2013 | $75,351,107,029 | $63,842,648,631 | $18,426,469,017 | $13,010,519,614 |
| 2014 | $57,372,355,592 | $49,131,511,071 | $13,962,212,847 | $13,449,448,811 |
| 2015 | $48,717,501,321 | $48,717,501,321 | $11,997,800,760 | $11,997,800,760 |
| 2016 | $49,912,073,701 | $47,991,152,063 | - | - |
| 2017 | $67,157,452,182 | $63,584,342,258 | - | - |
| 2018 | $76,686,029,772 | $68,633,808,774 | - | - |
| 2019 | $69,254,496,472 | $60,949,510,656 | - | - |
| 2020 | $46,854,285,441 | $42,996,651,438 | - | - |
| 2021 | $35,217,995,647 | $55,179,091,533 | - | - |
| 2022 | $43,246,297,922 | $50,625,917,040 | - | - |
| 2023 | $45,096,462,972 | $55,767,393,125 | - | - |
| 2024 | $46,636,278,902 | $55,429,536,118 | - | - |
Economic indicators
|
Libya
|
South Sudan
|
|
|---|---|---|
| Gross domestic product |
$46.6B
2024 |
$12B
2015 |
| GDP rank |
96/197
2024 |
150/197
2015 |
| GDP growth |
3.41%
2023-2024 |
-14.1%
2014-2015 |
| GDP per capita |
$6,318
2024 |
$1,080
2015 |
| GDP per capita rank |
110/197
2024 |
172/197
2015 |
| GDP per capita, PPP |
$13,954
2024 |
$1,155
2015 |
| Government debt | n/a |
$6.87B
2015 |
| Debt-to-GDP ratio | n/a |
63.2%
2025 |
| Government debt per person | n/a |
$618
2015 |
| Government debt per person rank | n/a |
159/185
2015 |
| Average annual personal income after taxes |
$3,735
2025 |
$1,540
2025 |
| Income share by richest 10% | n/a |
33%
2016 |
| Income share by poorest 10% | n/a |
1.8%
2016 |
| Government expenditure, % of GDP |
65.7%
2025 |
26.7%
2025 |
| Consumer prices inflation |
2.13%
2023-2024 |
91.4%
2023-2024 |
| Central bank interest rate | n/a |
15%
2023 |
| Unemployment rate |
30%
2004 |
12.3%
2008 |
| Population |
7523849
|
12387398
|
GDP per capita in Libya vs South Sudan
Libya's GDP per capita is $6,318, ranking 110/197, compared to $1,080 in South Sudan, ranking 172/197. Adjusted for purchasing power (GDP per capita PPP), Libya ranks 119th at $13,954, while South Sudan ranks 196th at $1,155.
| Year | Current $ | |||
|---|---|---|---|---|
|
Libya
|
South Sudan
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $269 | - | - | - |
| 1961 | $285.3 | - | - | - |
| 1962 | $382 | - | - | - |
| 1963 | $528 | - | - | - |
| 1964 | $765 | - | - | - |
| 1965 | $1,001 | - | - | - |
| 1966 | $1,251 | - | - | - |
| 1967 | $1,437 | - | - | - |
| 1968 | $1,972 | - | - | - |
| 1969 | $2,175 | - | - | - |
| 1970 | $2,210 | - | - | - |
| 1971 | $2,443 | - | - | - |
| 1972 | $2,830 | - | - | - |
| 1973 | $3,727 | - | - | - |
| 1974 | $6,214 | - | - | - |
| 1975 | $5,721 | - | - | - |
| 1976 | $7,018 | - | - | - |
| 1977 | $7,783 | - | - | - |
| 1978 | $7,252 | - | - | - |
| 1979 | $9,443 | - | - | - |
| 1980 | $11,960 | - | - | - |
| 1981 | $10,044 | - | - | - |
| 1982 | $9,064 | - | - | - |
| 1983 | $8,927 | - | - | - |
| 1984 | $7,811 | - | - | - |
| 1985 | $8,087 | - | - | - |
| 1986 | $6,019 | - | - | - |
| 1987 | $6,465 | - | - | - |
| 1988 | $5,736 | - | - | - |
| 1989 | $5,793 | - | - | - |
| 1990 | $6,502 | $17,173 | - | - |
| 1991 | $7,040 | $20,085 | - | - |
| 1992 | $7,303 | $19,572 | - | - |
| 1993 | $6,478 | $18,904 | - | - |
| 1994 | $5,933 | $19,318 | - | - |
| 1995 | $5,205 | $18,952 | - | - |
| 1996 | $5,591 | $19,392 | - | - |
| 1997 | $6,062 | $20,439 | - | - |
| 1998 | $5,301 | $19,639 | - | - |
| 1999 | $6,895 | $19,769 | - | - |
| 2000 | $7,214 | $20,617 | - | - |
| 2001 | $6,313 | $20,332 | - | - |
| 2002 | $3,718 | $20,061 | - | - |
| 2003 | $4,674 | $22,663 | - | - |
| 2004 | $5,774 | $23,813 | - | - |
| 2005 | $8,079 | $26,903 | - | - |
| 2006 | $10,049 | $28,936 | - | - |
| 2007 | $11,145 | $30,929 | - | - |
| 2008 | $13,906 | $30,812 | $1,654 | $2,887 |
| 2009 | $9,551 | $29,027 | $1,323 | $2,911 |
| 2010 | $11,601 | $30,234 | $1,498 | $2,948 |
| 2011 | $7,594 | $15,698 | $1,449 | $2,718 |
| 2012 | $14,976 | $26,826 | $1,109 | $1,417 |
| 2013 | $11,952 | $21,151 | $1,650 | $1,917 |
| 2014 | $8,926 | $17,510 | $1,243 | $1,373 |
| 2015 | $7,458 | $17,903 | $1,080 | $1,155 |
| 2016 | $7,526 | $16,961 | - | - |
| 2017 | $9,966 | $18,026 | - | - |
| 2018 | $11,197 | $18,879 | - | - |
| 2019 | $9,963 | $16,194 | - | - |
| 2020 | $6,650 | $10,955 | - | - |
| 2021 | $4,936 | $12,642 | - | - |
| 2022 | $5,987 | $12,273 | - | - |
| 2023 | $6,173 | $13,849 | - | - |
| 2024 | $6,318 | $13,954 | - | - |
Government deficit by year
In 2015, Libya's government deficit, the difference between spending and revenue, was -$13.9B, equivalent to -28.5% of GDP. This compares to South Sudan's deficit of -$1.92B, or -16% of GDP.
Over the past 5 years, Libya recorded a fiscal deficit in 4 of those years, while South Sudan ran a deficit in 4 years. On average, Libya posted an annual deficit equal to -12.4% of GDP, compared to deficit of -7.78% of GDP for South Sudan.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Libya
|
South Sudan
|
|
| 1990 | 3.36% | - |
| 1991 | 8.41% | - |
| 1992 | 0.11% | - |
| 1993 | -5.77% | - |
| 1994 | -2.67% | - |
| 1995 | 3.8% | - |
| 1996 | 11.3% | - |
| 1997 | -2.1% | - |
| 1998 | -2.36% | - |
| 1999 | 5.69% | - |
| 2000 | 13.6% | - |
| 2001 | 0.07% | - |
| 2002 | 6.99% | - |
| 2003 | 6.17% | - |
| 2004 | 11.3% | - |
| 2005 | 30.4% | - |
| 2006 | 29.1% | - |
| 2007 | 28.4% | - |
| 2008 | 27.7% | - |
| 2009 | -5.46% | - |
| 2010 | 11.5% | - |
| 2011 | -11.5% | 4.57% |
| 2012 | 24.6% | -14.8% |
| 2013 | -16.3% | -3.45% |
| 2014 | -30.5% | -9.18% |
| 2015 | -28.5% | -16% |
| 2016 | -29.3% | -18.1% |
| 2017 | -11.1% | 8.74% |
| 2018 | 9.39% | -1.1% |
| 2019 | 11.9% | 0.84% |
| 2020 | -22.3% | -4.93% |
| 2021 | 14.8% | -9.3% |
| 2022 | 23.6% | 2.05% |
| 2023 | 8.22% | 7.85% |
| 2024 | 0.15% | 3.86% |
| 2025 | 0.21% | 2% |
Inflation comparison by year
Over the past 16 years, Libya has recorded an average annual inflation rate of 7.39%, compared with 63.7% in South Sudan. In 2024, inflation was 2.13% in Libya and 91.4% in South Sudan.
| Year | Inflation | ||
|---|---|---|---|
|
Libya
|
South Sudan
|
Libya
|
South Sudan
|
| 1996 | 4.03% | - | |
| 1997 | 3.55% | - | |
| 1998 | 3.71% | - | |
| 1999 | 2.65% | - | |
| 2000 | -2.9% | - | |
| 2001 | -8.81% | - | |
| 2002 | -9.8% | - | |
| 2003 | -2.19% | - | |
| 2004 | -2.2% | - | |
| 2005 | 2.65% | - | |
| 2006 | 1.46% | - | |
| 2007 | 6.25% | - | |
| 2008 | 10.4% | - | |
| 2009 | 2.46% | 5.01% | |
| 2010 | 2.8% | 1.17% | |
| 2011 | 15.5% | 46.9% | |
| 2012 | 6.06% | 45.5% | |
| 2013 | 2.61% | -0.06% | |
| 2014 | 2.43% | 1.67% | |
| 2015 | 10.4% | 52.8% | |
| 2016 | 25.9% | 380% | |
| 2017 | 25.8% | 187.9% | |
| 2018 | 13.2% | 83.5% | |
| 2019 | -2.16% | 87.2% | |
| 2020 | 1.45% | 29.7% | |
| 2021 | 2.87% | 10.5% | |
| 2022 | 4.51% | -6.69% | |
| 2023 | 2.37% | 2.38% | |
| 2024 | 2.13% | 91.4% | |
Balance of trade
|
Libya
|
South Sudan
|
|
|---|---|---|
Current account balance
|
$1.86B
2023 |
$578M
2023 |
| Current account balance ranking |
46/189
2023 |
58/189
2023 |
| Current account balance, % of GDP |
+4.13%
2023 |
-4.17%
2015 |
| Goods imports |
$23.2B
2023 |
$2.25B
2023 |
| Goods exports |
$37.1B
2023 |
$4.01B
2023 |
| Service imports |
$10.1B
2023 |
$2.19B
2023 |
| Service exports |
$642M
2023 |
$484M
2023 |
| Imports of goods and services, % of GDP |
59.1%
2024 |
28.9%
2015 |
| Exports of goods and services, % of GDP |
74.8%
2024 |
36.7%
2015 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Libya
|
South Sudan
|
|
|---|---|---|
| Economic freedom | 35.9 | 41 |
| Economic freedom ranking | 189/197 | 186/197 |
| Property rights | 5.7 | n/a |
| Government integrity | 11.7 | n/a |
| Judicial effectiveness | 3.6 | n/a |
| Tax burden | 93.2 | n/a |
| Government spending | 0 | n/a |
| Fiscal health | 19.9 | n/a |
| Business freedom | 31.1 | n/a |
| Labor freedom | 48.6 | n/a |
| Monetary freedom | 75.1 | n/a |
| Trade freedom | 80 | n/a |
| Investment freedom | 5 | n/a |
| Financial freedom | 20 | n/a |
More economic indicators
|
Libya
|
South Sudan
|
|
|---|---|---|
| Services, % of GDP |
34.3%
2024 |
56.6%
2015 |
| Industry, % of GDP |
68.3%
2024 |
33.1%
2015 |
| Agriculture, forestry, and fishing, % of GDP |
1.74%
2024 |
10.4%
2015 |
|
GNI, Atlas method
|
$46.6B
2024 |
$11.7B
2015 |
| GNI per capita, PPP |
$14,050
2024 |
$1,010
2015 |
| Total reserves including gold |
$92.9B
2024 |
$72.9M
2023 |
| Total reserves ranking |
29/177
2024 |
175/177
2023 |
|
Net foreign direct investment
|
-$795M
2023 |
$2.21M
2019 |
|
Net inflows of foreign direct investment
|
$795M
2023 |
$83.4M
2024 |
|
Net outflows of foreign direct investment
|
-$56.5M
2024 |
$42M
2017 |
| Poverty at national poverty lines |
7.4%
2005 |
66%
2020 |
|
Gross capital formation, % of GDP
|
14.8%
2024 |
5.75%
2015 |
GDP per capita map
GDP per capita
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Economy comparisons
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.