Libya
Africa's largest oil reserves, two rival governments and a market that imports almost everything
Libya has Africa's largest proven oil reserves, and oil and gas make up the great majority of its exports. Since 2014 the country has been run by two rival governments — in Tripoli and in the east — which shapes who authorises what. It imports almost everything: food, machinery, cars, building materials. There is no VAT and no customs duty (except on tobacco); imports pay a customs service fee. Payment is in dinars at a rate set by the central bank, alongside a parallel market. UN and EU sanctions apply — an arms embargo and asset freezes on listed persons.
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Recent trade news from this country's authorities and newsrooms — tariffs, taxes, sanctions, currency, imports and exports. Headlines are in the original language; the article opens at the publisher. We add no comment.
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Setting up a company
Setting up a company and tax are the part of the profile you cannot assemble elsewhere in an afternoon. The rest of the page is open.
- ·Legal forms
Taxes
Setting up a company and tax are the part of the profile you cannot assemble elsewhere in an afternoon. The rest of the page is open.
- ·Corporate income tax
- ·VAT
- ·Payroll contributions
What it makes and needs
Crude oil and natural gas make up the great majority of exports; Italy is the main buyer.
Almost all consumer and capital goods: food, machinery, vehicles, building materials, medicines.
Money and payments
The Libyan dinar (LYD). The official rate is set by the central bank (CBL) — around LYD 6.3 to the US dollar in September 2026; the dollar costs more on the parallel market. The surcharge on foreign-currency sales in force since 2024 was abolished by the central bank in March 2026.
Importing into their market
Customs duties have been abolished since 2005 (except on tobacco). Imports pay a 5 % customs service fee and a further 0.5 %.
Bringing their goods into the EU
Libya has no trade agreement with the Union and is not a GSP beneficiary — Libyan goods pay the ordinary EU tariff.
EU restrictive measures on Libya apply (Council Decision (CFSP) 2015/1333 and Council Regulation (EU) 2016/44): an arms embargo, asset freezes and travel bans on listed persons and entities. The UN Security Council extended its sanctions regime to August 2027.
Practical matters
Arabic.
Sunday to Thursday.
By sea to the ports of Tripoli, Misrata and Benghazi.
Write to us. Our representative for this market or our team receives it.
Tell us what you came to this page for and did not find. We will add it — with a source.
A visa, legalising a document, an invitation letter, the commercial attaché before a trade fair — these only go through a mission. Below are the official registers rather than transcribed addresses: missions move and consular hours change several times a year, so a link to the register stays current where a transcript would not.
Where a country has no mission in Bratislava or Prague it is usually accredited from Vienna, Berlin or Warsaw — the register says which.
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