As of July of 2010, Libya had 6,461,454 people, with an annual growth rate of 2.117%. The GDP per capita is only about $13,400. The majority of the population of Libya lives near the coast. Most of the land is not used with “90% of people living in less than 10% of the land.” (Libya background notes) Prior to 1959, Libya was one of the poorest countries in the world. In 1959, Oil was discovered and helped propel Libya to one of the more wealthy countries in the world. (Libya Political Risk Yearbook: country conditions p 11) Libya uses the Dinar as its currency. Libya’s workforce is made up of 59% of service industry jobs, 24% in industry-commerce, and 17% in agriculture. In Libya, 0% of workers are in unions. (Libya Political Risk Yearbook: Social Indicators p 10)
Since the discovery of Oil reserves, Libya has seen some growth and would see more if ...
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"Libya Trade Brief." (n.d.): n. pag. World Bank. World Trade Indicators, 2010. Web. 13 Apr.
"Market Reports/Tariffs." International Trade Administration. OTEXA, 3 May 2011. Web. 13
"XE Currency Charts (USD/LYD)." XE.com. XE, 13 Apr. 2014. Web. 13 Apr. 2014.
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