Transport and Logistics
For the first time since 2014, the Central Bank of Libya’s sectorial data published in the economic bulleting offers information on the size and evolution of its transport sector . Considering its gross value added, the CBL’s aggregate for these sectors reflects, just like in most economic activities of the country, a significant drop since the start of the past decade. If in 2013 these sectors contributed to the country’s GDP by LYD 6.3 Billion, the estimated value in 2019 reached only LYD 2.1 Billion. Unfortunately, the aggregate offered by the institution includes also economic activities corresponding to storage (which is related to T&L) and telecommunications, thus an isolated analysis simply through this data is not accurate. Using IMF’s DOTS trade in services data for broadly estimating Libya’s trends on internal production of transport services can be of support. Exports of transport services in Libya in 2019 (LYD 64.4 Million) represented 49% of the volume exported in 2013 (LYD 131 Million). Imports of transport services, conditioned by Libya’s productive model, were 20 times higher than exports, a difference that remains consistent with the years immediately prior to the 2013 crisis, but two times higher than the average of the mid and late 2000s volumes. Imports in 2019 were nonetheless closer to the average volume of imported transport services in the last 10 years (2019’s imported volume was 70% of the 10-year average versus 62% regarding exported transport services), which can show specific potential of recovery for Libya’s local transport industry.