Libya: Business freedom

The latest value from 2023 is 31 points, a decline from 38 points in 2021. In comparison, the world average is 60 points, based on data from 179 countries. Historically, the average for Libya from 1996 to 2023 is 37 points. The minimum value, 20 points, was reached in 2006 while the maximum of 65 points was recorded in 2017. See the global rankings for that indicator or use the country comparator to compare trends over time.

The Business Freedom index for Libya from The Heritage Foundation measures the ability to start, operate, and close a business. It reflects the overall burden of regulations and the efficiency of the government of Libya in the regulatory process.

Definition: The Business freedom index is based on 10 indicators, using data from the World Bank’s Doing Business study: Starting a business-procedures (number), time (days), cost (% of income per capita), and minimum capital (% of income per capita); Obtaining a license—procedures (number), time (days), and cost (% of income per capita); Closing a business—time (years), cost (% of estate), and recovery rate (cents on the dollar).