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Libya - Market Analysis Report, October 2018


Libya - Market Analysis Report, October 2018

HIGHLIGHTS:
- Crude oil production pushed the Libyan economy up in 2017-2018, with a revival in oil output and a pick-up in global oil prices. This led to a tripling of public revenues and a trade surplus in 2017 (after 3 years of deficit) with a relatively small increase in imports.
- Food prices continuously increased in the last year: the cost of main food commodities increased on average by 15 percent in October 2018 when compared to the same month in 2017. However, recent economic reforms already show signs of having a positive impact on imports and food prices.
- Strong geographical differences are observed in food price dynamics, with the Southern region being the most expensive area for most products.
- The high volatility of bread and wheat flour prices are impacting the most vulnerable. Disruptions in the national subsidy system could be the main driver of consumer price fluctuation.

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