When some commodities can be imported or exported by proprietors and partnership companies, oil, natural gas and chemical products are still exported by its national oil companies. Due to stringent foreign reserve control, proprietors can only import small amount of products. But recent years saw an increase in this area. Libya launches dual management of planning and license. The agency in charge is the secretariat for economic and trade committee, under which there is an import and export administration responsible for general planning on import and export and issuance of license.
State companies can import by bidding after obtaining budget and foreign currency quota.
Proprietors will import by their earning from exports that are deposited in the banks of a third country. Most of the foreign reserves are from the export of oil and oil products and thus the world oil price directly affects its foreign trade development. For state companies, their budgets will still be adjusted with the oil price change and economic development. Due to the plummeting oil price in the world market its foreign trade has been sliding since 1998. It imports grain, food, machinery, construction material, transportation, equipment, electric applicants, chemical products and light industrial products and arm equipment.