"The economy of Libya is largely dependent on its oil and gas reserves, which account for nearly 95% of the country’s exports and 75% of its GDP. According to the World Bank, Libya’s GDP in 2019 was estimated to be $53.7 billion, with a growth rate of 1.2%. The unemployment rate in Libya is estimated to be around 30%, with youth unemployment at a staggering 40%. Inflation in Libya is also high, with an estimated rate of 8.2% in 2019.

The Libyan government has been attempting to diversify its economy away from oil and gas, with a focus on developing the agricultural and tourism sectors. However, the ongoing political instability in the country has hindered progress in this area.

Overall, the economy of Libya is heavily reliant on its oil and gas reserves, and the country is facing significant economic challenges due to the ongoing political instability."