Libya was a key investor to Cyprus after the invasion of the island by Turkey and was a source of jobs for Cypriots working under the Cypriot multinational company Joannou & Paraskevaides.

The latest state visit between the two countries was of Cypriot Foreign Minister Erato Kozakou-Marcoullis to Tripoli in 2011 after the overthrow of the Gaddafi regime.

In 2016, the value of goods exported from Cyprus to Libya reached a total of 145 million US dollars and included mostly refined oil, but also other diverse goods: sheep, goats, telephones and fruit juices.

[3] In the same year, the value of goods exported from Libya to Cyprus reached a total of 6.68 million US dollars and also included mostly refined oil.

In addition, Libya exported computer goods of negligible value to Cyprus.