Libya imported more than $350 million worth of gold and jewelry from Türkiye over the past year, ranking as the fifth-largest buyer of Turkish precious metal exports, according to data published by Anadolu Agency.
The data showed that Turkish jewelry exports to Libya reached approximately $356.2 million, placing the North African country among the top global destinations for Turkish gold and precious metal products.
The figures point to sustained strong demand for gold and jewelry in Libya, despite the country’s ongoing economic and political challenges.
According to the report, Libyan demand is driven by several factors, including consumer preferences, investment behavior, and gold’s traditional role as a store of value during periods of economic uncertainty.
Libya Stands Out in Regional Trade
Anadolu Agency noted that Libya’s strong performance reflects broader trends in Türkiye’s jewelry sector, which continues to expand across international markets.
While European and Gulf countries account for a large share of Türkiye’s export growth, Libya stood out notably within North Africa and the Mediterranean region.
In terms of import growth, Switzerland recorded the largest increase in the value of Turkish jewelry imports, benefiting from its position as a global hub for gold refining and trade. Meanwhile, the United Arab Emirates maintained a strong performance, reinforcing its role as a key regional center for gold trading and luxury goods.
Gold Seen as a Safe Haven
Libya’s position among the top five buyers highlights resilient demand across both the luxury and investment segments.
Market observers cited in the report said gold remains particularly attractive to Libyan consumers as a hedge against currency fluctuations and inflation, as well as a traditional means of preserving wealth during times of uncertainty.
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