Libya
Libya depends mainly on the energy sector, which constitutes about 97% of export earnings, 66% of GDP, and 91% of total government revenues. Economic reforms include a restructuring of subsidies, financial reform and plans for privatization, to pave the way towards a transition to a market-based economy.
Libya is attracting more foreign direct investment, mostly in the energy sector. Libyan oil and gas licensing rounds continue to draw high international interest. The National Oil Company set a goal to almost double oil production to 3 million barrels per day by 2015.
The non-oil manufacturing and construction sectors, which account for more than 23% of GDP, have expanded from the processing of agricultural products to heavy industries, including the production of petrochemicals, iron, steel, and aluminum.
