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WEEKLY NEWSLETTER
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Libya
Index
In 1984 industry, including the exploration, production,
transport, and marketing of petroleum products (crude petroleum,
natural gas, and condensates derived therefrom), contributed about
60 percent of GDP (at factor cost) and virtually 100 percent of
exports. Industrial activities also occupied from 30 to 38 percent
of the total labor force in 1984.
Libyan industrial development has been heavily dependent on the
oil sector, both for investment revenue and for raw inputs.
Throughout the 1970s, the government implemented numerous measures
to increase its share of the profits from oil exploitation and
marketing. By the mid-1980s, the revenue accruing to foreign oil
companies engaged in lifting Libyan oil was taxed at a rate of
about 95 percent.
Data as of 1987
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