Libya has been suffering from political unrest. It is now quickly making a rebound in the economy and the country’s GDP (Gross Domestic Product) is likely to see a tremendous surge by 2022. As per World Bank, Libya will get back its previous economic levels of 2008 by 2018, and following that it will witness an exponential growth in comparison with others states across North Africa region.
Libya is coming up with many projects of infrastructural development and establishing of commercial hubs. A number of countries like Turkey and France have already agreed to invest in various sectors of the Libyan economy including energy, infrastructure, etc. Further, these developments are set to attract more investments from other countries as well who want to tap into different markets all around the world. Also, the political unrest and instability of the past few years have given way to more opportunities for investors and traders as they can purchase items at lower prices without any fear of safety & security.
The Libyan economy will see tremendous growth by 2022. This will be stimulated by strong investments in infrastructure development, which is likely to create massive job opportunities, retail expansion, and finally increased demand for consumer goods such as laptops, tablets, mobile phones, etc. As a result, we can expect an exponential rise in the online shopping market which is continuing to grow around the world on daily basis. People are nowadays preferring the internet over traditional modes like TV or radio advertising as it helps them find things according to their needs and requirement and they get updated about different products and services.
Table of Contents
Here is the list of top-selling products in Libya online 2024
1. Apparel
Apparel is the most searched product by the customers during the year 2024. As per the report, there are over 48 million internet users across Libya. Every single day more than 65 thousand people search for new clothes on e-commerce websites. And this demand is expected to grow at a rapid pace in near future as well.
2. Laptops
The number of people using laptops has increased substantially in the last decade-plus. The development in the IT sector and strong economic base have helped Libya’s economy surge ahead with a strong GDP growth rate despite the impact of war on the economy. This trend will continue over years 2024 as well which means that there will be an increasing number of buyers who want one laptop each for their own use or business use etc, hence boosting the online retail market in Libya.
3. Mobile Phones
Mobile phones are an everyday need for everyone. There are more than 5 million active mobile users in the country now who are expected to increase over 2024 as well. There is immense scope for cellular phone retail business due to the increasing demand for smartphones which is likely to create jobs for locals and also boost the economy at a large scale.
4. Smart Watches
As per reports, there will be a huge surge in people preferring smartwatches and other devices during 2024 as it can help them keep track of time & schedule plus it has many other benefits such as easy navigation through city roads, online shopping, etc without having to carry heavy bags full of items.
5. Makeup Products
Many women prefer to look beautiful and always aim for spending quality time in front of the mirror for applying different cosmetics, face packs, etc. The use of makeup products is increasing rapidly across Libya which is expected to grow further during 2024. This will boost the online retail market in the country due to the increased demand for cosmetics, perfumes, makeups, etc made by different brands all over the world including locally manufactured items as well.
6. Smart Glasses
People keep updating their accessories on a daily basis which means that they are not satisfied with regular stuff anymore and want more advanced items in order to fulfill their needs. Therefore people opt for the best quality smart glasses instead of wearing ordinary glass these days which might reach further heights during 2024 as well.
7. Video Games
People love playing video games across Libyan which is another important factor that can boost the country’s economy in upcoming years since a strong IT base will help them a lot in the development of new software & other projects related to online retail business. It continues to grow rapidly during the year 2024 as well which means more people are going to spend money on buying the latest video games for themselves and their loved ones.
8. Children Toys
There is an extensive growth in the market of children toys all over Libya due to the increasing birthrate & spending capacity of parents when it comes to buying things for their kids, this trend will continue during the year 2024 as well since there are more than 4 million kids in the country now who need toys to play with.
9. Bluetooth Devices
Using Bluetooth devices has increased exponentially in the last few years and it is expected to grow further during 2024 which means that there can be huge scope for people opting for Bluetooth earphones, speakers, etc made by local as well as international companies to meet their demands.
10. Electronics
There is an increasing trend of using electronic devices due to the increasing use of technology in day-to-day activities which means there are more chances for an online retail business to grow during 2024 as well.
Keeping these factors into consideration, it is expected that Libya’s eCommerce market will see tremendous growth over 2024, hence helping people gain profits & businesses grow their base. It can help locals gain jobs whereas boosting the country’s GDP rate by means of exports etc. So let’s hope for the best!
