My luster countries : episode 6- Libya

A very interesting country, this is how I see Libya.

Its richness goes beyond being a big reservoir of oil….it also has a diversified richness in history, nature beauty and a unique local culture.

Despite this country was and still is torn with political and security conflicts, this will not stop me to pose, and share with you facts about Libya, interesting somehow.

Located in North Africa, Libya is home to approximately 6.58 million people, and its capital, Tripoli, is estimated to be home to almost 1.3 million of them. https://www.statista.com/topics/3885/libya/#topicHeader__wrapper

Libya, a mostly desert and oil-rich country with an ancient history, has more recently been known for the 42-year rule of the mercurial Colonel Muammar Gaddafi - and the chaos that has followed his departure. Libya was under foreign rule for centuries until it gained independence in 1951 https://www.bbc.co.uk/news/world-africa-13754897

A chronology of key events: https://www.bbc.co.uk/news/world-africa-13755445

• 7th century BC - Phoenicians settle in Tripolitania in western Libya, which was hitherto populated by Berbers.
• 6th century BC - Carthage conquers Tripolitania.
• 4th century BC - Greeks colonise Cyrenaica in the east of the country, which they call Libya.
• 74 BC - Romans conquer Libya.
• AD 643 - Arabs under Amr Ibn al-As conquer Libya and spread Islam.
• 16th century - Libya becomes part of the Ottoman Empire, which joins the three provinces of Tripolitania, Cyrenaica and Fezzan into one regency in Tripoli.
• 1911-12 - Italy seizes Libya from the Ottomans. Omar al-Mukhtar begins 20-year insurgency against Italian rule.
• 1942 - Allies oust Italians from Libya, which is then divided between the French, who administer Fezzan, and the British, who control Cyrenaica and Tripolitania.
• 1951 - Libya becomes independent under King Idris al-Sanusi.
• 1961 - King Idris opens a 104-mile pipeline, which links important oil fields in the interior to the Mediterranean Sea and makes it possible to export Libyan oil for the first time.
• 1969 - King Idris deposed in military coup led by Col Muammar Gaddafi, who pursues a pan-Arab agenda by attempting to form mergers with several Arab countries, and introduces state socialism by nationalizing most economic activity, including the oil industry. Gaddafi was killed in 2011

The discovery of oil (https://www.britannica.com/place/Libya/History )

With the discovery of significant oil reserves in 1959, Libya changed abruptly from being dependent on international aid and the rent from U.S. and British air bases to being an oil-rich monarchy. Major petroleum deposits in both Tripolitania and Cyrenaica ensured the country income on a vast scale. The discovery was followed by an enormous expansion in all government services, massive construction projects, and a corresponding rise in the economic standard and the cost of living.

Facts and figures : https://www.statista.com/topics/3885/libya/#:~:text=With%20an%20area%20of%20approximately,almost%201.3%20million%20of%20them .

• Libya is the country with the largest oil reserves in Africa, thus making the oil sector among the most successful ones in the continent, accounting for 80 percent of the country`s GDP and 97 percent of its exports
• One of the most important export partner of Libya is Italy, with the lion's share in exports. China is the main import partner of Libya, and accounts for almost 15 percent of all imports, mostly petroleum, petroleum products, and natural gas.
• In 2020, Libya imported goods with an estimated value of about 13.4 billion U.S. dollars, while exporting goods worth approximately 7.7 billion U.S. dollars, leaving the country with a trade deficit. The same year, Libya’s gross domestic product amounted to a total of 19.21 billion U.S. dollars, and it's expected to grow further. Still, Libya's economy is not considered the most stable. Its inflation rate, for instance, is one of the highest across the globe.
• National debt in relation to gross domestic product (GDP) 36.39%
• Budget balance in relation to GDP 13.82%
• Ratio of Government expenditure to gross domestic product (GDP) 59.73%
• Gross domestic product (GDP) in current prices (in billion U.S. dollars) 19.21 bn USD
• Gross domestic product (GDP) per capita in current prices (in U.S. dollars) 6,004.47 USD
• Inflation rate (compared to the previous year)3.7%
• Trade deficit (in billion U.S. dollars) 5.66 bn USD
• Libya main import partner China
• Libya main export partner Italy
• Cultural tourism is Libya's biggest draw as a tourism destination. There are five UNESCO World Heritage Sites in the country, three of which are classical ruins. The Roman cities of Sabratha and Leptis Magna in Western Libya and the Greek ruins of Cyrene in the East are big tourist attractions. https://en.wikipedia.org/wiki/Tourism_in_Libya
• In 2020, the tourism industry contributed around 4.7 billion U.S. dollars to Libya's Gross Domestic Product (GDP). The value decreased by approximately 73 percent compared to the previous year. This decline was due to the coronavirus (COVID-19) pandemic, which impacted the global travel and tourism industry. https://www.statista.com/statistics/1277080/contribution-value-of-tourism-to-gdp-in-libya/
• Its culture involves roots in Berber, African, Turkish and Arab cultures. Libya was also an Italian colony for about three decades, which had a great impact on the culture. Libya has managed to keep its traditional folk culture alive to today. The majority of Libyans are Arab, and 96.6% are Muslim Sunnis. https://en.wikipedia.org/wiki/Culture_of_Libya