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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Rising level of oil exports and corresponding increase in food imports in the Libyan Arab Republic
Authors:Basit, Abdul
Afifi, Hani
Year:1974
Periodical:Eastern Africa Journal of Rural Development
Volume:7
Issue:1-2
Pages:234-236
Language:English
Geographic term:Libya
Subjects:exports
petroleum
food imports
Abstract:This report is specifically related to the effect of oil exports on the import of various food items into the country. Petroleum has played. and still plays, a vital role in the development of the Libyan Arab Republic. This paper presents figures demonstrating the dynamic growth of the Libyan economy during the past ten years. For every one million Dinar increase in oil revenue the food imports increased by 27,000 Dinars. During the period 1961-1970 the oil exports revenue increased from 4 million D. to 841 million D. whilst expenditure on food imports increased from 7 million D. to about 37 million D., an increase of 429 per cent, compared with a population increase of only 29 per cent. With the estimated population of 1976 being 2.3 millions, a total amount of 68 million Dinars will go for the import of foods. In the long run the food imports will bring a higher standard of health, low mortality rate, and higher per capita productivity. At the other side local agricultural economy faced a set-back, but with modern machinery new opportunities for an expanding agricultural production are expected.
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