Libya ranked first among African countries in foreign exchange reserves at the end of 2025, according to the African Trade Report 2026 published by the African Export-Import Bank (Afreximbank).
The report showed that Libya’s foreign exchange reserves reached $87.9 billion, the highest level on the continent. The figure represents around 17% of Africa’s total foreign exchange reserves, which stood at $515.2 billion by the end of 2025.
South Africa ranked second with reserves totaling $75.9 billion, followed by Algeria with $52 billion. Egypt placed fourth with $51.4 billion, while Morocco completed the top five with reserves of $48.6 billion.
The findings underscore Libya’s strong external financial position despite the political and economic challenges facing the country. Foreign exchange reserves play a critical role in supporting financial stability by helping central banks manage exchange rates, finance imports, meet external financial obligations, and cushion economies against external shocks.
Libya’s reserve holdings continue to be driven primarily by revenues from the oil and gas sector, which remains the country’s main source of foreign currency earnings. As Africa’s largest holder of proven oil reserves, Libya relies heavily on hydrocarbon exports to generate government income and strengthen its external financial position.
Afreximbank’s annual report examines trade and macroeconomic trends across the continent, including reserve assets, trade flows, investment, and overall economic performance.
