As rebel forces advance to the capital city Tripoli, supporters are counting down what looks to be the last days of a 41-year regime in Libya. Since the uprising began in February, the divided nation has seen immense bloodshed, chaos, and an overall disruption in their economy.
In relation to the U.S., the oil-rich nation is a contributing supplier to the U.S. market. In fact, about 45% of all imports from Libya are oil. The graph below illustrates the trade balance trend with Libya which shows both imports and exports dipping in recent months. April and May of this year exhibited very low import levels because control of key oil towns was in transition. As the changeover progresses, oil production and economic order will slowly return. However, it will be a long road ahead for a nation that has already endured so much.