diff --git a/CMakeLists.txt b/CMakeLists.txt
index be7b193..a3f5918 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -2280,7 +2280,30 @@ if(NOT CURL_DISABLE_INSTALL)
     set(_implicit_libs "${CMAKE_C_IMPLICIT_LINK_LIBRARIES}")
   endif()
 
-  foreach(_lib IN LISTS _implicit_libs _custom_libs CURL_LIBS)
+  find_package(PkgConfig)
+  pkg_check_modules(CURL_PC_REQUIRED REQUIRED ${LIBCURL_PC_REQUIRES_PRIVATE})
+  # Libs which are resolved by pkg-config via Requires (LIBCURL_PC_REQUIRES_PRIVATE)
+  # don't need to be written to `libcurl.pc` (LIBCURL_PC_LIBS_PRIVATE),
+  # but still need to be written `to curl-config` (CURL_CONFIG_LIBS_PRIVATE)
+  set(CURL_CONFIG_LIBS_PRIVATE "")
+
+  # Imported multi-config targets in CURL_LIBS can't be exported easily to
+  # `libcurl.pc` and `curl-config`. Export link libraries as used by pkg-config.
+  set(curl_libs "${CURL_LIBS}")
+  if(ZLIB::ZLIB IN_LIST CURL_LIBS)
+    pkg_check_modules(CURL_PC_ZLIB REQUIRED zlib)
+    string(REPLACE "ZLIB::ZLIB" "${CURL_PC_ZLIB_LINK_LIBRARIES}" curl_libs "${curl_libs}")
+  endif()
+  if(OpenSSL::SSL IN_LIST CURL_LIBS)
+    pkg_check_modules(CURL_PC_LIBSSL REQUIRED libssl)
+    string(REPLACE "OpenSSL::SSL" "${CURL_PC_LIBSSL_LINK_LIBRARIES}" curl_libs "${curl_libs}")
+  endif()
+  if(OpenSSL::Crypto IN_LIST CURL_LIBS)
+    pkg_check_modules(CURL_PC_LIBCRYPTO REQUIRED libcrypto)
+    string(REPLACE "OpenSSL::Crypto" "${CURL_PC_LIBCRYPTO_LINK_LIBRARIES}" curl_libs "${curl_libs}")
+  endif()
+
+  foreach(_lib IN LISTS _custom_libs curl_libs)
     if(TARGET "${_lib}")
       set(_libname "${_lib}")
       get_target_property(_imported "${_libname}" IMPORTED)
@@ -2295,6 +2318,10 @@ if(NOT CURL_DISABLE_INSTALL)
         continue()
       endif()
     endif()
+    set(out_list LIBCURL_PC_LIBS_PRIVATE)
+    if(_lib IN_LIST CURL_PC_REQUIRED_LINK_LIBRARIES)
+      set(out_list CURL_CONFIG_LIBS_PRIVATE)
+    endif()
     if(_lib MATCHES "^-")  # '-framework <name>'
       list(APPEND _ldflags "${_lib}")
     elseif(_lib MATCHES "/")
@@ -2311,12 +2338,18 @@ if(NOT CURL_DISABLE_INSTALL)
           list(APPEND _ldflags "-L${_libdir}")
         endif()
         string(REGEX REPLACE "^lib" "" _libname "${_libname}")
-        list(APPEND LIBCURL_PC_LIBS_PRIVATE "-l${_libname}")
+        list(APPEND ${out_list} "-l${_libname}")
+        if(TARGET "${LIB_STATIC}" AND _libdir IN_LIST CMAKE_C_IMPLICIT_LINK_DIRECTORIES)
+          # Avoid absolute path to system lib in exported CMake config
+          get_target_property(static_link_libs "${LIB_STATIC}" INTERFACE_LINK_LIBRARIES)
+          string(REPLACE "${_lib}" "${_libname}" static_link_libs "${static_link_libs}")
+          set_target_properties("${LIB_STATIC}" PROPERTIES INTERFACE_LINK_LIBRARIES "${static_link_libs}")
+        endif()
       else()
-        list(APPEND LIBCURL_PC_LIBS_PRIVATE "${_lib}")
+        list(APPEND ${out_list} "${_lib}")
       endif()
     else()
-      list(APPEND LIBCURL_PC_LIBS_PRIVATE "-l${_lib}")
+      list(APPEND ${out_list} "-l${_lib}")
     endif()
   endforeach()
 
@@ -2342,11 +2375,11 @@ if(NOT CURL_DISABLE_INSTALL)
     set(LIBCURL_PC_REQUIRES "")
     set(LIBCURL_PC_LIBS     "")
     set(LIBCURL_PC_CFLAGS   "")
+    set(CURL_CONFIG_LIBS_PRIVATE "")
   else()
+    string(REPLACE ";" " " CURL_CONFIG_LIBS_PRIVATE "${CURL_CONFIG_LIBS_PRIVATE}")
     set(ENABLE_SHARED       "no")
-    set(LIBCURL_PC_REQUIRES "${LIBCURL_PC_REQUIRES_PRIVATE}")
-    set(LIBCURL_PC_LIBS     "${LIBCURL_PC_LIBS_PRIVATE}")
-    set(LIBCURL_PC_CFLAGS   "${LIBCURL_PC_CFLAGS_PRIVATE}")
+    # (processing by vcpkg_fixup_pkgconfig)
   endif()
   if(BUILD_STATIC_LIBS)
     set(ENABLE_STATIC       "yes")
diff --git a/curl-config.in b/curl-config.in
index 5518416..c0c29da 100644
--- a/curl-config.in
+++ b/curl-config.in
@@ -155,7 +155,7 @@ while test "$#" -gt 0; do
       curllibdir=''
     fi
     if test 'X@ENABLE_SHARED@' = 'Xno'; then
-      echo "${curllibdir}-lcurl @LIBCURL_PC_LIBS_PRIVATE@"
+      echo "@libdir@/libcurl.@libext@ @LIBCURL_PC_LDFLAGS_PRIVATE@ @CURL_CONFIG_LIBS_PRIVATE@ @LIBCURL_PC_LIBS_PRIVATE@"
     else
       echo "${curllibdir}-lcurl"
     fi
@@ -167,7 +167,7 @@ while test "$#" -gt 0; do
 
   --static-libs)
     if test 'X@ENABLE_STATIC@' != 'Xno'; then
-      echo "@libdir@/libcurl.@libext@ @LIBCURL_PC_LDFLAGS_PRIVATE@ @LIBCURL_PC_LIBS_PRIVATE@"
+      echo "@libdir@/libcurl.@libext@ @LIBCURL_PC_LDFLAGS_PRIVATE@ @CURL_CONFIG_LIBS_PRIVATE@ @LIBCURL_PC_LIBS_PRIVATE@"
     else
       echo 'curl was built with static libraries disabled' >&2
       exit 1