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“Libya” exports 47% of its fuel to “Europe”

March 27, 2024

The French Foreign Trade Insurance Corporation (Coface) revealed the volume of Libyan hydrocarbon exports to the European continent. She said that 66% of Libya's exports go to Europe, 8% go to China, and 6% go to the United States.

The Foundation explained that Libya has one of the strongest economies in the region. As foreign debts decrease, in addition to the huge reserves of natural gas and oil, despite this, 47% of its commercial imports in general come from Europe – especially France, whose exports to Libya in the period from 2015 to 2023 reached 325 million dollars – and 18% from Turkey and 15 % from China.

The corporation believes that Libya's dependence on oil and gas for its exports has made various countries of the world look forward to establishing relations with it to acquire oil and gas reserves on the one hand, and to limit the phenomenon of illegal immigration that occurs on its territory to Europe on the other hand.

The corporation warned the Libyan government that the division between East and West would weaken the advantage that the country has in terms of exporting gas and oil.