In 1997 and 1998 Libya reported a trade balance of between US$1 and US$2 billion and
in 1999 was US$3 billion (Mukhtar et al., 2008). Libya’s main trade partners are Italy
with 40 per cent of the export and 18 per cent of the import, Germany with
20 and 12 per cent, France with 7 and 4 per cent, the UK with 6.5 and 3 per cent, while
Sudan exports were 4 per cent, and Tunisia and Belgium imports were 5 and 4 per cent,
respectively (Mukhtar et al., 2008).