Used Car Export Country Guide (2023) Africa - Libya
创建于2024.09.12
Used Car Export Country Guide (2023) - Libya
1. Basic Information
Libya (Libya for short) is a country in North Africa, located on the southern coast of the Mediterranean Sea, adjacent to Egypt, Sudan, Chad, Niger, Algeria and Tunisia. Its capital is Tripoli, with a land area of 1.76 million square kilometers and a total population of 6.913 million. Libya is still in a transition period due to political turmoil and frequent violent incidents. According to data from the International Monetary Fund, as of October 2023, Libya's GDP was US$40.19 billion, with a real GDP growth rate of 12.5%, and a per capita GDP of approximately US$5,870. In 2023, the bilateral trade volume between China and Libya was US$6.1 billion, a year-on-year increase of 13.11%, of which China's exports to Libya were US$3.9 billion, a year-on-year increase of 39.23%; China's imports from Libya were US$2.2 billion, a year-on-year decrease of 33.18%. China mainly exports small processing machinery, automobiles, construction machinery, textiles, etc. to Libya.
Libya's resources are mainly oil and natural gas, with proven reserves of 48.4 billion barrels and 1.54 trillion cubic meters respectively. Other resources include iron (2-3 billion tons), potassium, manganese, phosphate, copper, tin, sulfur, iodine, bauxite, etc. Fishery products mainly include tuna, sardines, sponges, etc.
2. Automobile Market Situation
Libya is a left-hand drive country. Its automobile market mainly relies on imports, and its used car imports dominate. According to statistics, the top three used car import sources for Libya in 2021 were South Korea, the United States, and Belgium, with imports reaching US$217 million, US$108 million, and US$46 million, respectively. Libya is the largest export destination for South Korea's used car exports. In 2023, South Korea exported 151,000 used cars to Libya.
(III) Policies and regulations on the import of used cars
1. Import policy
Libya only allows the import of left-hand drive vehicles. The age of imported second-hand passenger cars should not exceed five years. The import of heavy vehicles, forklifts, tractors, trucks, etc. that are seven years old or older is prohibited.
2. Tax policy
For returning citizens, the tariff is 10%; for tourists, a 25% deposit of the vehicle's value is paid, which is refunded when the tourist returns.
3. Documents required for import
•Original title certificate and registration certificate
• Original commercial/purchase invoice
• Copy of passport
• Driving license and international insurance policy
• Original bill of lading
• Certificate of Origin
• Import license
• Employment letter (returning residents)
• Insurance policy
Source: China Used Car Export Country Guide 2023
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