Lebanon's Macroeconomic Analysis:
Nominal GDP of USD 21.0 billion in 2022.
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.
GDP per capita of USD 3,824 compared to the global average of USD 10,589.
Average real GDP growth of 2.4% over the last decade.
Average real GDP growth of 2.2% over the last decade.
Sector Analysis
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%.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.Main Economic Indicators
Economic growthThe 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.
Economic situation in Lebanon
Economic activity in Lebanon is currently being ravaged by Israel’s bombing campaign and land invasion targeting the paramilitary group Hezbollah. Israeli attacks have already claimed over 3,000 lives, led over 500,000 citizens to cross the border into Syria and internally displaced close to 900,000 people. In mid-November, a World Bank report put physical damage and economic losses at USD 8.5 billion—around a third of GDP—with housing, commerce and agriculture the hardest-hit sectors. High-frequency economic indicators are limited, though the private-sector PMI business survey recorded the weakest reading in nearly four years in October. The conflict piles more misery on an economy still reeling from prolonged institutional paralysis, an unresolved banking crisis and limited government spending capacity.Lebanon Economic Forecasts
Projections out to 2034.41 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 14 expert analysts.
Want to get insight on the economic outlook for Lebanon in the coming years? FocusEconomics collects projections out to 2034 on 41 economic indicators for Lebanon from a panel of 14 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.