Abstract
97 The Contribution of the Agricultural Sector in the Libyan Economy, Current Status and Future Prospects Abdulhamid Yousef A. 1 Abstract This paper based on an economic analysis of the Libyan economy, attempting to explain the growth of the agricultural sector and its contribution in GDP during the period 1990-2013. After discussing the performance of the country‟s economic development plans in the period considered, the determinants of GDP growth examined. Similar to previous studies, this study confirms the predominance of the oil sector. Despite the size of investment in the agricultural sector over the last three decades, however, its contribution did not exceed 9% of the total GDP. This paper aims to study and analyze the constraints that have contributed to the inability of the sector to grow at high rates, and raising the ratio of its contribution to GDP and diversifying the sources of national income. In addition, this paper intends to estimate gross domestic product function of the agricultural sector in Libya, and future situation, in terms of the volume of agricultural resources available. The result indicated that utilizing more efficiently is the best way to achieve higher rates of growth in this sector, and raising the ratio of its contribution to national output and to meet the growing needs of agricultural commodities in the domestic market.