Skyline in Lebanon

Lebanon Economy

Lebanon's economy in numbers:

Nominal GDP of USD 23.1 billion in 2021.

GDP per capita of USD 4,136 compared to the global average of USD 10,589.

Average real GDP growth of 2.2% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2020, services accounted for 73% of overall GDP, manufacturing 12%, other industrial activity 6%, and agriculture 9%. Looking at GDP by expenditure, private consumption accounted for 106% of GDP in 2020, government consumption 16%, fixed investment 10%, and net exports -32%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2021, manufactured products made up 52% of total merchandise exports, mineral fuels 0%, food 25%, ores and metals 10% and agricultural raw materials 0%, with other categories accounting for 13% of the total. In the same period, manufactured products made up 48% of total merchandise imports, mineral fuels 28%, food 17%, ores and metals 2% and agricultural raw materials 1%, with other goods accounting for 4% of the total. Total exports were worth USD 4 billion in 2022, while total imports were USD 18 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded an average annual decrease of 2.2% in the decade to 2021. To read more about GDP growth in Lebanon, go to our dedicated page.

Fiscal policy:

Lebanon's fiscal deficit averaged 7.3% of GDP in the decade to 2021. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 10.4% in the decade to 2022. For more information on Lebanon's unemployment click here.

Inflation:

Inflation averaged 39.4% in the decade to 2022. Go to our Lebanon inflation page for extra insight.

Monetary Policy:

Lebanon's monetary policy rate ended 2022 at 10.00%, on the same level as a decade earlier. See our Lebanon monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the pound weakened by 0.9% vs the U.S. dollar. For more info on the pound, click here.
The economy is forecast to have broadly stabilized in 2023 as a whole, boosted by healthy tourism and remittances, and the increased dollarization of the economy. However, the Israel-Hamas conflict hurt momentum in Q4. Lebanon borders with Israel, and Hezbollah—a paramilitary group that is allied to Hamas—operates in Southern Lebanon: This raised fears among would-be visitor arrivals and firms over the conflict spilling over domestically, with tourist numbers tumbling in October–November and private-sector operating conditions deteriorating at the fastest pace in 11 months in December according to PMI data. In politics, parliament approved the 2024 budget in January. The budget aims for revenue to match expenditure this year, but does not appear to contain the structural reforms required to unlock USD 3 billion in IMF funding that has been on hold since 2022.
Projections out to 2033.

36 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 16 expert analysts.

Want to get insight on the economic outlook for Lebanon in the coming years? FocusEconomics collects projections out to 2033 on 36 economic indicators for Lebanon from a panel of 16 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Lebanon economy. To download a sample report on the Lebanon's economy, click here . To get in touch with our team for more information, fill in the form at the bottom of this page .

Lebanon Economic Data

2018 2019 2020 2021 2022
Population (million) 6.0 5.8 5.7 5.6 5.5
GDP (USD bn) 54.9 51.6 31.7 23.1 -
GDP per capita (USD) 9,226 8,925 5,600 4,136 -
GDP (LBP tn) 82.7 78.1 48.0 35.0 -
Economic Growth (Nominal GDP, ann. var. %) 3.0 -5.6 -38.5 -27.2 -
Economic Growth (GDP, ann. var. %) -1.9 -6.9 -21.4 -7.0 -
Private Consumption (ann. var. %) -2.5 -2.4 -14.0 2.1 -
Government Consumption (ann. var. %) 5.0 2.8 -53.7 -76.0 -
Fixed Investment (ann. var. %) 8.4 -45.5 -53.0 -67.6 -
Exports (G&S, ann. var. %) -4.7 -0.9 -53.7 13.1 -
Imports (G&S, ann. var. %) 1.3 -9.5 -46.0 -12.2 -
Unemployment (% of active population, aop) 10.7 11.3 13.0 12.5 12.6
Fiscal Balance (% of GDP) -11.4 -11.0 -3.5 0.8 -
Public Debt (% of GDP) 155 172 151 350 -
Money (ann. var. of M2 %) -3.0 -17.4 6.3 17.0 47.6
Inflation (CPI, ann. var. %, aop) 6.1 2.9 84.9 154.8 171.2
Repo Rate (%, eop) 10.00 10.00 10.00 10.00 10.00
Exchange Rate (LBP per USD, eop) 1,507 1,513 1,514 1,511 1,519
Current Account Balance (USD bn) -13.4 -11.1 -2.8 -3.4 -6.5
Current Account Balance (% of GDP) -24.3 -21.5 -8.8 -14.7 -
Merchandise Trade Balance (USD bn) -14.9 -13.5 -6.6 -8.3 -13.7
Merchandise Exports (USD bn) 3.5 4.5 3.8 4.3 4.4
Merchandise Imports (USD bn) 18.5 18.0 10.4 12.6 18.0
Merchandise Exports (ann. var. %) -5.7 28.1 -15.8 12.6 1.6
Merchandise Imports (ann. var. %) 1.3 -2.5 -42.2 21.5 42.7
Foreign Direct Investment (USD bn) 2.7 1.9 1.6 0.6 0.5
International Reserves (USD bn) 40.6 38.2 25.0 18.5 15.8
International Reserves (months of imports) 26.4 25.5 28.8 17.5 10.5
External Debt (USD bn) 79.7 73.9 68.9 66.9 67.1
External Debt (% of GDP) 145 143 217 289 -

Free Sample Report

Interested in Lebanon economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest