Middle East > Lebanon > Economy

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Agriculture > products citrus, grapes, tomatoes, apples, vegetables, potatoes, olives, tobacco; sheep, goats
Aid as % of GDP	1.2%		[82nd of 129]
Big Mac Index	$2.85		[13th of 65]
Debt > External	$31,600,000,000.00		[57th of 136]
Economic freedom	1.75		[99th of 156]
Economy > Overview The 1975-90 civil war seriously damaged Lebanon's economic infrastructure, cut national output by half, and all but ended Lebanon's position as a Middle Eastern entrepot and banking hub. In the years since, Lebanon has rebuilt much of its war-torn physical and financial infrastructure by borrowing heavily - mostly from domestic banks. In an attempt to reduce the ballooning national debt, the Rafiq HARIRI government in the 1990s began an austerity program, reining in government expenditures, increasing revenue collection, and privatizing state enterprises, but economic and financial reform initiatives stalled and public debt continued to grow despite receipt of more than $2 billion in bilateral assistance at the 2002 Paris II Donors Conference. The Israeli-Hizballah conflict in July-August 2006 caused an estimated $3.6 billion in infrastructure damage, and prompted international donors to pledge nearly $1 billion in recovery and reconstruction assistance. Donors met again in January 2007 at the Paris III Donor Conference and pledged more than $7.5 billion to Lebanon for development projects and budget support, conditioned on progress on Beirut's fiscal reform and privatization program. An 18-month political stalemate and sporadic sectarian and political violence hampered economic activity, particularly tourism, retail sales, and investment, until a new government was formed in July 2008.
Exchange rates Lebanese pounds per US dollar - 1,507.5 (2004), 1,507.5 (2003), 1,507.5 (2002), 1,507.5 (2001), 1,507.5 (2000)
Exports	$4,077,000,000.00		[109th of 189]
Exports to US	$30,900,000.00		[115th of 224]
GDP	$22,722,190,000.00		[72nd of 203]
GDP > PPP	$24,226,000,000.00		[94th of 163]
GDP > Real growth rate	3.6%		[133rd of 198]
GDP growth > annual %	1 annual %		[158th of 187]
Gross National Income	$17,585,000,000.00		[62nd of 172]
Human Development Index	0.759		[81st of 178]
Income category	Upper middle income
Inflation rate (consumer prices)	4.2%		[110th of 192]
Population below poverty line	28%		[8th of 46]
Public debt	186.6 % of GDP		[2nd of 121]
Tourist arrivals	558,000		[65th of 152]

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