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Gross domestic product in constant prices growth rate

(%)

In 2018, real GDP growth in Libya was 10.9 %. In the ranking by real GDP growth including 190 countries, Libya is the top country that is close to the positions of such countries as Ethiopia and the Côte d'Ivoire. Compared to Venezuela (Bolivarian Republic of) which at the bottom of the ranking with real GDP growth of -18 % in 2018, Libya has 160.59 % percent lower real GDP growth.

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What is real GDP growth?

Annual percentage growth rate of GDP at market prices based on constant local currency. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources.