Libyan Dinar

Overview

Economy

• Libya is a member of AU, Arab League, OPEC, OIC.
• Main industries include: Petroleum, Petrochemicals, Aluminum, Iron and steel, Food processing, Textiles, Handicrafts, Cement.
• Libya is part of the World Trade Organization.
• Imports are machinery, semi-finished goods, food, transport equipment, consumer products.
• Major exports include crude oil, refined petroleum products, natural gas, chemicals.
• GDP: $52.1 billion (2023 est.).
• GDP per capita: $7,684 (2023 est.).
• Unemployment rate: 19.6% (2017 est.).
• Inflation rate: 4.5% (2023 est.).
• Main trading partners: Italy, Germany, Spain, China, France, Egypt.
• Trade agreements: Limited due to political instability, Arab Free Trade Area, Various suspended agreements.

History

• Previous currencies used: Libyan pound, Egyptian pound, Italian lira (colonial).
• The Libyan dinar was introduced in 1971, replacing the Libyan pound. It was relatively stable until the 2011 revolution, after which it faced significant pressures due to political instability.
• 1971: LYD introduced, replacing Libyan pound at par
• 1986: US sanctions impact economy
• 1999: UN sanctions lifted
• 2003: International sanctions lifted
• 2011: Revolution and Gaddafi's fall
• 2014-2020: Civil war and dual government crisis
• 2021: Government of National Unity formed
• Exchange rate peg: Multiple exchange rates due to political situation.

General Information

• ISO 4217 Code: LYD
• Symbols: LYD/ل.د
• Currency Subunits: 1000 dirhams
• Central Bank: Central Bank of Libya
• Monetary Policy: Multiple exchange rate system due to political instability. Focus on maintaining some monetary stability amid ongoing conflicts.
• Bills: 1 LYD, 5 LYD, 10 LYD, 20 LYD, 50 LYD
• Coins: 1 dirham, 5 dirhams, 10 dirhams, 20 dirhams, 50 dirhams, 100 dirhams
• USD Exchange Rate: Variable (official ~4.8, parallel market much higher)
• Pegged To: None (Floating)
• Capital: Tripoli
• Population: 6,888,388 (2023 est.)
• Area: 1,759,540 km²
• Languages: Arabic (official), Italian, English, Berber
• Time Zones: UTC+2 (Eastern European Time)
• Government Type: Transitional government
• Head of Government: Prime Minister (head of government), Presidential Council
• Independence: December 24, 1951 (from UN trusteeship)
• Ethnic Groups: Berber and Arab 97%, Other 3%
• Religions: Muslim 96.6%, Christian 2.7%, Buddhist 0.3%, Hindu 0.1%, Jewish 0.1%, Folk religion 0.1%, Other 0.2%
• Literacy Rate: 91% (2015 est.)
• Transport: Tripoli International Airport, coastal road network, limited railways, Mediterranean ports
• Communications: Telecommunications affected by conflict, 22% internet penetration, mobile networks disrupted
• Energy: Oil and natural gas 100%, significant petroleum reserves
• Countries Using This Currency: Libya
• Data Sources: Central Bank: Central Bank of Libya (cbl.gov.ly), Economic Data: Bureau of Statistics Libya, World Bank estimates, IMF, Trade Data: Customs Authority Libya, Demographic Data: Bureau of Statistics Libya, Geographic Data: National Meteorological Center, Historical Data: Central Bank of Libya archives
• Last Updated: 2025