About Libya

The Discovery of Oil
The discovery of major petroleum deposits in both Tripolitania and Cyrenaica assured the country of income on a vast scale. The 1950s in Libya were characterized by great poverty; minimal economic development was made possible only by the payments and loans received from various Western nations.

General Information
Libya local long form: State of Libya.
Local short form: Libya.
Government type: Libyan Interim Government.

The first inhabitants of Libya were Berber tribes. In the 7th century B.C. , Phoenicians colonized the eastern section of Libya, called Cyrenaica, and Greeks colonized the western portion, called Tripolitania. Tripolitania was for a time under Carthaginian control.

Libya is a country located in North Africa. Bordering the Mediterranean Sea to the north, Libya lies between Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west.

Libya has a small population residing in a large land area. Population density is about 50 persons per km˛ (80/sq. mi.) in the two northern regions of Tripolitania and Cyrenaica, but falls to less than one person per km˛ (1.6/sq. mi.) elsewhere.

he Libyan economy depends primarily upon revenues from the oil sector, which constitute practically all export earnings and about one-quarter of gross domestic product (GDP).