Countries
Lebanon
Key Economic Indicators
$72.6 billion
$12,575
-0.76%
45.24%
10.99%
$20.079 billion (2023 est.)
<strong>note:</strong> data cover central government debt and exclude debt instr
$-5,642,829,133
Economic Overview
lower middle-income Middle Eastern economy; hyperinflation and sharp poverty increases; banks have ceased lending; economic contraction, destroyed infrastructure, and reduced consumer demand resulting from Israel-Hezbollah conflict
All Economic Data
Agricultural products
potatoes, milk, tomatoes, apples, oranges, olives, cucumbers/gherkins, chicken, lemons/limes, wheat (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
0.7% of household expenditures (2023 est.)
On food:
37.1% of household expenditures (2023 est.)
Budget
Expenditures:
$11.853 billion (2021 est.)
Note:
<b>note:</b> central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated
Revenues:
$12.73 billion (2021 est.)
Currency
code:
LBP
name:
Lebanese pound (LBP) [ل.ل]
Current account balance
$-5,642,829,133
Current account balance 2021:
-$4.556 billion (2021 est.)
Current account balance 2022:
-$7.265 billion (2022 est.)
Current account balance 2023:
-$5.643 billion (2023 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$67.39 billion
Debt - external 2023:
$41.936 billion (2023 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
Lebanese pounds (LBP) per US dollar -
Exchange rates 2020:
1,507.5 (2020 est.)
Exchange rates 2021:
1,507.5 (2021 est.)
Exchange rates 2022:
1,507.5 (2022 est.)
Exchange rates 2023:
13,875.625 (2023 est.)
Exchange rates 2024:
89,500 (2024 est.)
Exports
$6.13 billion
Exports 2021:
$9.684 billion (2021 est.)
Exports 2022:
$12.445 billion (2022 est.)
Exports 2023:
$11.77 billion (2023 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
jewelry, cars, diamonds, scrap iron, gold (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
UAE 26%, Egypt 7%, Turkey 5%, Iraq 5%, USA 4% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$1.84 billion
GDP - composition, by end use
Exports of goods and services:
30.6% (2023 est.)
Government consumption:
5.2% (2023 est.)
Household consumption:
136% (2023 est.)
Imports of goods and services:
-73.7% (2023 est.)
Investment in fixed capital:
1.9% (2023 est.)
Investment in inventories:
0% (2023 est.)
Note:
<strong>note:</strong> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
1% (2023 est.)
Industry:
2.1% (2023 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
42.4% (2023 est.)
GDP (official exchange rate)
$20.079 billion (2023 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$3,478
Gini Index coefficient - distribution of family income
31.8 (2011)
GNI (gross national income)
$19.82 billion
GNI per capita
$3,700
Gross domestic investment
2 % of GDP
Imports
$14.79 billion
Imports 2021:
$17.667 billion (2021 est.)
Imports 2022:
$24.536 billion (2022 est.)
Imports 2023:
$23.313 billion (2023 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
refined petroleum, gold, cars, packaged medicine, garments (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Switzerland 12%, China 11%, Greece 9%, Turkey 8%, Italy 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
0.1% (2023 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
banking, tourism, real estate and construction, food processing, wine, jewelry, cement, textiles, mineral and chemical products, wood and furniture products, oil refining, metal fabricating
Inflation rate (consumer prices)
45.24%
Inflation rate (consumer prices) 2022:
171.2% (2022 est.)
Inflation rate (consumer prices) 2023:
221.3% (2023 est.)
Inflation rate (consumer prices) 2024:
45.2% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
1.939 million (2023 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
1.84 million persons
Labor force - by occupation
agriculture:
3.51%
industry:
20.12%
services:
76.36%
Public debt
Note:
<strong>note:</strong> data cover central government debt and exclude debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment
Public debt 2017:
146.8% of GDP (2017 est.)
Real GDP (purchasing power parity)
$72.6 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2021:
$66.329 billion (2021 est.)
Real GDP (purchasing power parity) 2022:
$65.917 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$65.415 billion (2023 est.)
Real GDP growth rate
-0.76%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2021:
-7% (2021 est.)
Real GDP growth rate 2022:
-0.6% (2022 est.)
Real GDP growth rate 2023:
-0.8% (2023 est.)
Real GDP per capita
$12,575
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2021:
$11,600 (2021 est.)
Real GDP per capita 2022:
$11,500 (2022 est.)
Real GDP per capita 2023:
$11,300 (2023 est.)
Remittances
$5.8 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2021:
27.5% of GDP (2021 est.)
Remittances 2022:
30.7% of GDP (2022 est.)
Remittances 2023:
33.3% of GDP (2023 est.)
Reserves of foreign exchange and gold
$33.3 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$32.513 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$27.49 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$33.301 billion (2024 est.)
Revenue (excl grants)
7 % of GDP
Tax revenue
6 % of GDP
Taxes and other revenues
5.7% (of GDP) (2021 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
10.99%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2021:
12.7% (2021 est.)
Unemployment rate 2022:
11.6% (2022 est.)
Unemployment rate 2023:
11.6% (2023 est.)
Youth unemployment rate (ages 15-24)
Female:
21.9% (2023 est.)
Male:
24.4% (2023 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
23.6% (2023 est.)
Economic Rankings
Inflation Rate
#4
External Debt
#24
Unemployment Rate
#28
Reserves
#56
Imports
#89
Exports
#107
GDP (PPP)
#111
GDP per Capita
#120
GDP (Nominal)
#125
Gini Index
#143
GDP Growth Rate
#189
Quick Facts
Industries
banking, tourism, real estate and construction, food processing, wine, jewelry, cement, textiles, mineral and chemical products, wood and furniture products, oil refining, metal fabricating
Agricultural products
potatoes, milk, tomatoes, apples, oranges, olives, cucumbers/gherkins, chicken, lemons/limes, wheat (2023)
Labor force
1.939 million (2023 est.)
Exports - partners
UAE 26%, Egypt 7%, Turkey 5%, Iraq 5%, USA 4% (2023)
Imports - partners
Switzerland 12%, China 11%, Greece 9%, Turkey 8%, Italy 6% (2023)
Exchange rates
Lebanese pounds (LBP) per US dollar -
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