Libyan Economy Minister on Trade Challenges
The Libyan trade balance surplus saw a significant increase during the first half of 2026, reaching $6.2 billion due to an increase in oil exports, which amounted to $18 billion, compared to imports valued at $11.6 billion. This rise is attributed to higher oil prices, despite internal challenges facing the production structure, such as the reliance on importing 60% of fuel and the impact of political tensions and attacks on oil facilities. The reoperation of the Ras Lanouf refinery, which produces more than 220,000 barrels per day, is expected to help reduce imports and support domestic production. Furthermore, the government's ongoing plan to boost exports and enhance national production continues despite rising inflation caused by the lack of a unified currency exchange system and increased money supply.
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