Italy Tops Libya’s Trading Partners in 2022

0
333

Italy topped the list of Libya’s trading partners with a volume of €6.37 billion euros from January to the end of July 2022, followed by China with €2.95 billion euros, and Spain with €2.44 billion euros.

The Italian news agency ‘NOVA’ cited data issued by the External Promotion Agency for Italian Companies in Tripoli. This showed that trade between Italy and Libya increased by 83.68% in the first seven months of this year, compared to the same period last year. The sum was divided into Libyan exports worth €5.27 billion euros, and imports worth €1.11 billion euros.

According to data released by the ICE agency, the fourth largest trading partner was Greece with €2.39 billion euros, followed by Germany in fifth place with €2.37 billion euros, then Turkey in sixth place worth €1.94 billion euros, and the United States in seventh place with €1.38 billion euros.

Italy is also the third largest exporter to Libya after Turkey, which leads the list with €1.54 billion euros in exports (an increase of 22.30% compared to 2021), and a market share of 17.23%. China is in second place with €1.22 billion euros in exports – an increase of 17.37%, and a market share of 13.62%.

According to the data, Italian exports to Libya have grown since the beginning of 2022 by 71.24%, with sales of €1.11 billion euros, and a market share of 12.38%. It added that Libyan exports to Italy grew by 86.53% in the same period, with a value of €5.27 billion euros.

Italy was also confirmed as Libya’s top export destination market, with a share of 26.74%, ahead of Spain at 10.91%, worth €2.15 billion euros.