The Economy of Libya is centrally planned. It depends primarily upon revenues from the petroleum sector, which contributes practically all export earnings and over half of GDP. These oil revenues and a small population have given Libya the highest nominal per capita GDP in Africa. Since 2000, Libya has recorded favourable growth rates with an estimated 10.6% growth of GDP in 2010.

Libya had seen fantastic growth rate, however these proved unsustainable in the face of global oil recession and international sanctions. Consequently the GDP per capita shrank by 40% in the 1980s. Successful diversification and integration into the international community helped current GDP per capita to cut further deterioration to just 3.2% in the 1990s.

Libyan GDP per capita was about $40 in the early 1950s and it rose to $1,018 by 1967. In 1966 alone, per capita GDP rose by 42 percent.

Below is a chart of trend of gross domestic product of Libya at market prices estimated by the International Monetary Fund with figures in millions of Libyan dinars (LYD).

Libya (Arabic: ‏ليبيا‎ Lībyā), Berber: ⵍⵉⴱⵢⴰ) is a country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west.

With an area of almost 1.8 million square kilometres (700,000 sq mi), Libya is the third largest country in Africa by area, and the 17th largest in the world. The largest city, Tripoli, is home to 1.7 million of Libya's 6.4 million people. The three traditional parts of the country are Tripolitania, Fezzan and Cyrenaica.

In 2009 Libya had the highest HDI in Africa and the fourth highest GDP (PPP) per capita in Africa, behind Seychelles, Equatorial Guinea and Gabon. Libya has the 10th-largest proven oil reserves of any country in the world and the 17th-highest petroleum production.

As a result of the Libyan civil war, the Libyan Arab Jamahiriya, which had at that time been in existence for 34 years, collapsed and Libya entered a period of governance by a transitional administration called the National Transitional Council. The NTC has stated its intention to oversee the first phase of a transition to constitutional democracy, after which it claims it will dissolve in favor of a representative legislature.

Webster Griffin Tarpley (born 1946) is an American historian, author, journalist, lecturer, and critic of US foreign and domestic policy. Tarpley maintains that the September 11 attacks were engineered by a rogue network of the military-industrial complex and intelligence agencies as a false flag operation. His writings and speeches describe a model of terror operations by a rogue network in the military/intelligence sector working with moles in the private sector and in corporate media, and locates such contemporary false flag operations in a historical context stretching back in the English speaking world to at least the Gunpowder Plot in England in 1605.

Tarpley was born in Pittsfield, Massachusetts in 1946. He received a BA degree summa cum laude in English and Italian from Princeton University in 1966. While a student at Princeton he became a member of Phi Beta Kappa, and was a Fulbright Scholar at University of Turin in Italy. Tarpley also obtained a MA degree in humanities from Skidmore College. As well as a Ph.D. from The Catholic University of America in History.