Libya is a large, oil-rich country, with a relatively small population. While it is the fourth-largest country in Africa, with an area of almost 700,000 miles (1.8 million square kilometers), Libya had an estimated 6.7 million people as of July 2012. This makes the country one of the 10 least-densely populated countries in the world, and the country with the 10th-largest proven oil reserves. The recent political turmoil has impacted development, as well as obscured it. In 2010, Libya's gross domestic product was an estimated $92.62 billion, with a real annual growth rate of 4.2 percent.

In 2011, the United Nations (UN) ranked Libya 64 out of 187 countries on the Human Development Index. Libya was colonized by many invaders, including Romans, Arabs, and Turks. It ...

  • Loading...
locked icon

Sign in to access this content

Get a 30 day FREE TRIAL

  • Watch videos from a variety of sources bringing classroom topics to life
  • Read modern, diverse business cases
  • Explore hundreds of books and reference titles