Lebanon has a free-market economy and a strong laissez-faire commercial tradition. The government does not restrict foreign investment; however, the investment climate suffers from red tape, corruption, arbitrary licensing decisions, complex customs procedures, high taxes, tariffs, and fees, archaic legislation, and weak intellectual property rights. The Lebanese economy is service-oriented; main growth sectors include banking and tourism. The 1975-90 civil war seriously damaged Lebanon’s economic infrastructure, cut national output by half, and derailed Lebanon’s position as a Middle Eastern entrepot and banking hub. Following the civil war, Lebanon rebuilt much of its war-torn physical and financial infrastructure by borrowing heavily, mostly from domestic banks, which saddled the government with a huge debt burden. Pledges of economic and financial reforms made at separate international donor conferences during the 2000s have mostly gone unfulfilled, including those made during the Paris III Donor Conference in 2007, following the July 2006 war. Spillover from the Syrian conflict, including the influx of more than 1 million Syrian refugees, has increased internal tension and slowed economic growth to the 1-2% range in 2011-13, after four years of averaging 8% growth. Syrian refugees have increased the labor supply, but pushed more Lebanese into unemployment. Chronic fiscal deficits have made Lebanon’s debt-to-GDP ratio the third highest in the world; most of the debt is held internally by Lebanese banks. Weak economic growth limits tax revenues, while the largest government expenditures remain debt servicing and transfers to the electricity sector. These limitations constrain other government spending and limit the government’s ability to invest in necessary infrastructure improvements, such as water, electricity, and transportation.
$81.12 billion (2014 est.)
$79.53 billion (2013 est.)
$77.59 billion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 88
$49.92 billion (2014 est.)
2.3% (2014 est.)
2.5% (2013 est.)
2.8% (2012 est.)
country comparison to the world: 138
$18,000 (2014 est.)
$17,600 (2013 est.)
$17,200 (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 90
-2.1% of GDP (2014 est.)
-2.6% of GDP (2013 est.)
-0.2% of GDP (2012 est.)
country comparison to the world: 136
household consumption: 82.2%
government consumption: 14.8%
investment in fixed capital: 30.4%
investment in inventories: 1%
exports of goods and services: 15.5%
imports of goods and services: -43.9%
(2014 est.)
agriculture: 6.3%
industry: 21.1%
services: 72.6% (2014 est.)
citrus, grapes, tomatoes, apples, vegetables, potatoes, olives, tobacco; sheep, goats
banking, tourism, food processing, wine, jewelry, cement, textiles, mineral and chemical products, wood and furniture products, oil refining, metal fabricating
4% (2014 est.)
country comparison to the world: 74
1.481 million
note: does not include as many as 1 million foreign workers (2007 est.)
country comparison to the world: 132
agriculture: NA%
industry: NA%
services: NA%
NA%
28.6% (2004 est.)
lowest 10%: NA%
highest 10%: NA%
revenues: $10.24 billion
expenditures: $14.89 billion (2014 est.)
21.6% of GDP (2014 est.)
country comparison to the world: 149
-9.8% of GDP (2014 est.)
country comparison to the world: 201
142.4% of GDP (2014 est.)
139.9% of GDP (2013 est.)
note: 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 intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment
country comparison to the world: 4
calendar year
1.9% (2014 est.)
5.6% (2013 est.)
country comparison to the world: 96
3.5% (31 December 2010)
10% (31 December 2009)
country comparison to the world: 103
7.2% (31 December 2014 est.)
7.35% (31 December 2013 est.)
country comparison to the world: 121
$5.12 billion (11 December 2014 est.)
$5.007 billion (11 December 2013 est.)
country comparison to the world: 99
$48.04 billion (11 December 2014 est.)
$45.25 billion (11 December 2013 est.)
country comparison to the world: 68
$87.04 billion (30 December 2014 est.)
$83.21 billion (31 December 2013 est.)
country comparison to the world: 57
$11.22 billion (30 December 2014 est.)
$10.55 billion (30 December 2013)
$10.42 billion (28 December 2012 est.)
country comparison to the world: 72
-$12.45 billion (2014 est.)
-$5.05 billion (2013 est.)
country comparison to the world: 163
$4.092 billion (2014 est.)
$4.93 billion (2013 est.)
country comparison to the world: 121
jewelry, base metals, chemicals, consumer goods, fruit and vegetables, tobacco, construction minerals, electric power machinery and switchgear, textile fibers, paper
Saudi Arabia 10.8%, UAE 9.7%, Syria 8.7%, Iraq 7.6%, South Africa 7%, Switzerland 4% (2014)
$20.08 billion (2014 est.)
$20.28 billion (2013 est.)
country comparison to the world: 78
petroleum products, cars, medicinal products, clothing, meat and live animals, consumer goods, paper, textile fabrics, tobacco, electrical machinery and equipment, chemicals
China 11.8%, Italy 7.7%, US 6.8%, France 6.2%, Germany 5.4%, Russia 4.5%, Greece 4.1% (2014)
$49.43 billion (30 December 2014 est.)
$47.85 billion (31 December 2013 est.)
country comparison to the world: 40
$31.61 billion (30 December 2014 est.)
$31.56 billion (30 December 2013 est.)
country comparison to the world: 72
$NA
$NA
Lebanese pounds (LBP) per US dollar –
1,507.5 (2014 est.)
1,507.5 (2013 est.)
1,507.5 (2012 est.)
1,507.5 (2011 est.)
1,507.5 (2010 est.)