| Abstract: | Concentrates on the effect of the industrial and agricultural sectors on the gross domestic income. Available data show that after the discovery of petroleum the gross domestic income has increased by 545 % during the period 1958-1964. The G.D.I. will increase steadily because there are new sources of income which will contribute to it, such as natural gas, the rapid growth of the petroleum sector and other sectors associated with it. The contribution of agriculture and industry started to decline as oil became a new major source of income. Libya since then ceased to have self sufficiency agriculture or industry. Most Libyan industries are directed to the processing of agricultural products. The small market, the shortage of manpower and the lack of raw material do not allow for the establishment of heavy industries on a large scale. There are however reasons for hope that industry will boom in the future. Tables 1958, 1964, 1965, 1966. |
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