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Economy of Bhutan vs Lebanon compared: GDP & Debt

Updated on by Georank

Bhutan has a GDP of $3.58B compared to $26B for Lebanon, ranking 167/197 and 121/197 by economy size, respectively.

Bhutan has $3.71B in government debt (103.6% of GDP), compared to $41B (139.4% of GDP) in Lebanon.

Bhutan vs Lebanon GDP by year

Bhutan
Lebanon
1x
Year GDP, current $
Bhutan Lebanon
2025 $3,579,320,145 -
2024 $3,346,603,859 $25,971,643,441
2023 $3,012,896,790 $20,078,620,357
2022 $2,898,227,744 $20,992,421,949
2021 $2,768,802,960 $23,131,941,557
2020 $2,457,604,334 $31,712,128,254
2019 $2,735,683,570 $51,605,959,131
2018 $2,583,335,722 $54,901,519,156
2017 $2,591,358,009 $53,027,680,686
2016 $2,357,504,761 $51,147,308,774
2015 $2,187,815,803 $49,929,337,837
2014 $2,089,079,571 $48,095,213,747
2013 $1,943,696,952 $46,880,103,081
2012 $1,973,387,228 $44,016,799,516
2011 $1,977,728,659 $39,927,125,962
2010 $1,708,880,730 $38,443,907,042
2009 $1,331,343,798 $35,399,582,929
2008 $1,317,517,835 $29,118,916,105
2007 $1,255,767,964 $24,827,355,015
2006 $942,879,879 $22,022,709,851
2005 $860,391,000 $21,497,336,499
2004 $735,348,490 $21,159,827,992
2003 $651,935,430 $20,082,918,740
2002 $559,345,264 $19,152,238,806
2001 $496,110,226 $17,649,751,244
2000 $460,733,418 $17,260,364,842
1999 $399,311,200 $17,391,056,369
1998 $363,458,381 $17,247,179,006
1997 $352,229,077 $15,751,867,489
1996 $303,408,346 $13,690,217,334
1995 $290,490,984 $11,718,795,529
1994 $258,954,708 $9,599,127,050
1993 $225,973,693 $7,941,744,492
1992 $240,233,531 $5,843,579,161
1991 $240,294,286 $4,690,415,093
1990 $287,765,007 $2,838,485,354
1989 $264,798,626 $2,717,998,688
1988 $272,298,067 $3,313,540,068
1987 $242,742,766 -
1986 $191,218,115 -
1985 $163,288,815 -
1984 $160,423,494 -
1983 $156,704,290 -
1982 $141,439,317 -
1981 $139,174,178 -
1980 $128,669,201 -
1979 $105,377,995 -
1978 $94,086,228 -
1977 $97,884,434 -
1976 $88,461,263 -
1975 $86,820,762 -
1974 $92,901,784 -
1973 $78,900,289 -
1972 $70,139,867 -
1971 $66,289,450 -
1970 $61,812,113 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

GDP per capita in Bhutan vs Lebanon by year

Bhutan
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $4,493 - - -
2024 $4,228 - $4,473 -
2023 $3,831 $16,215 $3,478 $12,575
2022 $3,711 $15,064 $3,654 $12,293
2021 $3,571 $13,459 $4,045 $11,600
2020 $3,192 $12,475 $5,561 $16,260
2019 $3,577 $12,909 $8,906 $21,710
2018 $3,400 $11,970 $9,175 $21,985
2017 $3,435 $11,677 $8,608 $20,964
2016 $3,152 $11,273 $8,089 $18,941
2015 $2,954 $10,214 $7,714 $17,046
2014 $2,849 $9,323 $7,578 $16,140
2013 $2,680 $8,667 $8,162 $16,316
2012 $2,751 $8,577 $8,407 $16,121
2011 $2,788 $7,935 $7,835 $14,975
2010 $2,436 $7,246 $7,626 $14,704
2009 $1,918 $6,466 $7,091 $13,586
2008 $1,920 $6,035 $5,912 $12,416
2007 $1,850 $5,729 $5,125 $11,356
2006 $1,406 $4,860 $4,635 $10,312
2005 $1,300 $4,523 $4,602 $10,020
2004 $1,130 $4,173 $4,601 $9,609
2003 $1,022 $3,942 $4,438 $8,914
2002 $896 $3,663 $4,291 $8,586
2001 $812 $3,338 $4,010 $8,289
2000 $772 $3,113 $3,987 $7,938
1999 $685 $3,017 $4,087 $7,793
1998 $638 $2,819 $4,125 $7,861
1997 $630 $2,683 $3,834 $7,632
1996 $553 $2,548 $3,393 $7,560
1995 $530 $2,374 $2,959 $6,796
1994 $467 $2,146 $2,468 $6,367
1993 $407 $2,001 $2,079 $5,871
1992 $416 $1,840 $1,559 $5,279
1991 $401 $1,657 $1,278 $4,527
1990 $488 $1,638 $790 $2,990
1989 $462 - $771 -
1988 $489 - $959 -
1987 $449 - - -
1986 $365 - - -
1985 $321 - - -
1984 $326 - - -
1983 $328 - - -
1982 $306 - - -
1981 $311 - - -
1980 $296.9 - - -
1979 $251.4 - - -
1978 $232.2 - - -
1977 $249.9 - - -
1976 $233.7 - - -
1975 $237.4 - - -
1974 $262.8 - - -
1973 $230.9 - - -
1972 $212.4 - - -
1971 $207.7 - - -
1970 $200.3 - - -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

Bhutan's GDP per capita is $4,493, ranking 128/197, compared to $4,473 in Lebanon, ranking 129/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Lebanon ranks 123rd at $12,575.

Economic indicators

Bhutan Lebanon
Gross domestic product
$3.58B
2025
$26B
2024
GDP rank
167/197
2025
121/197
2024
GDP growth
8.01%
2024-2025
-7.08%
2023-2024
GDP per capita
$4,493
2025
$4,473
2024
GDP per capita rank
128/197
2025
129/197
2024
GDP per capita, PPP
$16,215
2023
$12,575
2023
GDP per capita PPP rank
109/197
2023
123/197
2023
Government debt
$3.71B
2025
$41B
2024
Debt-to-GDP ratio
103.6%
2025
139.4%
2025
Government debt per person
$4,655
2025
$7,061
2024
Government debt per person rank
88/185
2025
71/185
2024
Average annual personal income after taxes
$4,215
2026
$3,055
2026
Market capitalization of domestic companies n/a
$10.6B
2021
Number of billionaires n/a
6
2026
Income share by richest 10%
22.7%
2022
25.6%
2022
Income share by poorest 10%
3.6%
2022
2.8%
2022
Government expenditure, % of GDP
30.5%
2025
15.5%
2025
Consumer prices inflation
2.6%
2024-2025
14.6%
2024-2025
Central bank interest rate n/a
20%
2023
Unemployment rate
3.36%
2025
11.3%
2019
Population
805057
5921719

Spending and national debt comparison by year

Bhutan
Spending

Debt
Lebanon
Spending

Debt
1x
Year % of GDP
Bhutan Lebanon
Government spending Government debt Government spending Government debt
2025 30.5% 103.6% 15.5% 139.4%
2024 28.3% 108.7% 15.3% 157.9%
2023 28.9% 117.2% 14.3% 185.8%
2022 32.1% 119.9% 12.9% 235.9%
2021 36.6% 124.5% 10.5% 346%
2020 30.9% 116% 24.5% 157.2%
2019 24.2% 100.8% 31.3% 171.9%
2018 31.7% 103.4% 32.1% 154%
2017 30.6% 104.1% 30.7% 150.4%
2016 30.5% 103% 28.6% 147.9%
2015 27.5% 90.2% 26.7% 140.9%
2014 28.9% 89.8% 28.9% 138.5%
2013 32.5% 87.4% 28.9% 135.4%
2012 35.1% 71.5% 30.2% 131.1%
2011 36.1% 62.3% 28.8% 134.4%
2010 41.5% 55.8% 29.2% 136.8%
2009 39.3% 61% 32.1% 144.5%
2008 36.1% 60.6% 34.3% 161.5%
2007 33.2% 67.3% 35.2% 169.3%
2006 33.4% 80.1% 36.1% 183.3%
2005 36.4% 80.8% 31.4% 178.9%
2004 31% 76% 33.3% 169.5%
2003 34.7% 68.5% 36.4% 171.3%
2002 39.3% 57.7% 36.8% 163.1%
2001 50.3% 52.4% 38.9% 163.1%
2000 43% 44% 42.8% 148.1%
1999 40.2% 39.2% 35.6% 130.2%
1998 31.1% 36.4% 34.7% 108.2%
1997 37.8% 33% 40.5% 100.2%
1996 37.9% 36.8% 43.6% 101.2%
1995 38.6% 38.7% 31.1% 79.6%
1994 37.9% 53.2% 47.3% 71.5%
1993 35.2% 60.2% 23% 50.5%
1992 34.5% 35.6% 36.1% 51.7%
1991 30.8% 33.5% 35.6% 67.1%
1990 35.8% 27.4% 40% 99.7%
1989 46.8% 26.4% - -
1988 45.3% 24.7% - -
1987 47.5% 17.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1999, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

In 2025, Bhutan's government spending was $1.09B, accounting for 30.5% of its GDP, while Lebanon spent $3.98B, or 15.5% of GDP.

Debt-to-GDP ratio is 103.6% in Bhutan and 139.4% in Lebanon, ranking 19/185 and 8/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Lebanon
1x
Year Deficit/surplus, % of GDP
Bhutan Lebanon
2025 -2.7% 3.25%
2024 -1.79% 0.39%
2023 -4.73% -1.64%
2022 -6.95% -7.49%
2021 -5.76% -2.57%
2020 -1.81% -7.79%
2019 -1.49% -10.5%
2018 -1.52% -11.2%
2017 -4.49% -8.68%
2016 -2.31% -8.98%
2015 -0.49% -7.49%
2014 2.46% -6.22%
2013 -4.55% -8.83%
2012 -2.1% -8.43%
2011 -3.02% -5.94%
2010 1.92% -7.47%
2009 -0.8% -8.1%
2008 -2.57% -9.86%
2007 0.79% -10.9%
2006 -0.07% -10.6%
2005 -6.96% -8.57%
2004 1.8% -9.83%
2003 -10.2% -14%
2002 -4.33% -16.2%
2001 -12.2% -21%
2000 -3.39% -23.9%
1999 -1.28% -16.7%
1998 1.28% -17.3%
1997 -1.92% -24.5%
1996 2.55% -25.7%
1995 -0.88% -13.6%
1994 -0.13% -29.1%
1993 4.71% -7.19%
1992 -3.47% -24%
1991 -0.48% -19.5%
1990 -7.21% -30.2%
1989 -10.1% -
1988 1.33% -
1987 -0.56% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1989, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

In 2024, Bhutan's government deficit, the difference between spending and revenue, was $59.9M, equivalent to 1.79% of GDP. This compares to Lebanon's surplus of $102M, or 0.39% of GDP.

Over the past 35 years, Bhutan recorded a fiscal deficit in 28 of those years, while Lebanon ran a deficit in 34 years. On average, Bhutan posted an annual deficit equal to 2.33% of GDP, compared to deficit of 12.7% of GDP for Lebanon.

Inflation comparison by year

Inflation
Bhutan

Lebanon
1x
Year Consumer prices inflation
Bhutan Lebanon
2025 2.6% 14.6%
2024 4.3% 45.2%
2023 4.5% 221.3%
2022 5.9% 171.2%
2021 8.2% 154.8%
2020 3% 84.9%
2019 2.8% 2.9%
2018 3.6% 6.1%
2017 4.3% 4.4%
2016 3.3% -0.8%
2015 6.7% -3.7%
2014 9.6% 1.9%
2013 8.1% 4.8%
2012 10.1% 6.6%
2011 8.6% 5%
2010 4.8% 4%
2009 7.1% 1.2%
2008 6.3% 10.7%
2007 5.2% 4.1%
2006 4.9% 4.1%
2005 4.8% -1.4%
2004 3.3% 1.7%
2003 2.5% 1.3%
2002 2.9% 1.8%
2001 3.7% -0.4%
2000 7.2% -0.4%
1999 9.1% 0.2%
1998 7.6% 4.5%
1997 8.6% 7.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

Over the past 29 years, Bhutan has recorded an average annual inflation rate of 5.64%, compared with 26.1% in Lebanon. In 2025, inflation was 2.6% in Bhutan and 14.6% in Lebanon.

Balance of trade

Bhutan Lebanon
Current account balance
-$649M
2024
-$5.64B
2023
Current account balance ranking
105/190
2024
166/190
2023
Current account balance, % of GDP
-19.4%
2024
-28.1%
2023
Goods imports
$1.28B
2024
$16.7B
2023
Goods exports
$660M
2024
$3.85B
2023
Service imports
$228M
2024
$6.63B
2023
Service exports
$288M
2024
$7.92B
2023
Imports of goods and services, % of GDP
47.9%
2024
58.9%
2024
Exports of goods and services, % of GDP
31.5%
2024
23.3%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Bhutan Lebanon
Economic freedom 57.5 43.1
Economic freedom ranking 115/197 183/197
Property rights 69.2 21.8
Government integrity 72.2 23.4
Judicial effectiveness 61.8 23.8
Tax burden 83.4 90.3
Government spending 74.1 93.3
Fiscal health 25.8 63.4
Business freedom 67.8 47.6
Labor freedom 60.1 48.4
Monetary freedom 71.6 0
Trade freedom 63.4 65.6
Investment freedom 20 20
Financial freedom 20 20

Economic freedom comparison by year

Bhutan
Lebanon
1x
Year Economic freedom index
Bhutan Lebanon
2026 57.5 43.1
2025 57.5 44.1
2024 55.4 48.3
2023 59 45.6
2022 59.3 47.3
2021 58.3 51.4
2020 62.1 51.7
2019 62.9 51.1
2018 61.8 53.2
2017 58.4 53.3
2016 59.5 59.5
2015 57.4 59.3
2014 56.7 59.4
2013 55 59.5
2012 56.6 60.1
2011 57.6 60.1
2010 57 59.5
2009 57.7 58.1
2008 - 60
2007 - 60.4
2006 - 57.5
2005 - 57.2
2004 - 56.9
2003 - 56.7
2002 - 57.1
2001 - 61
2000 - 56.1
1999 - 59.1
1998 - 59
1997 - 63.9
1996 - 63.2

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 43.1 for Lebanon, ranking 183/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Lebanon
Services, % of GDP
53.2%
2025
35.7%
2024
Industry, % of GDP
33.2%
2025
2.63%
2024
Agriculture, forestry, and fishing, % of GDP
13.7%
2025
1.05%
2024
GNI, Atlas method
$3.43B
2025
$20.7B
2024
GNI per capita, PPP
$18,520
2025
$11,790
2024
Total reserves including gold
$1.19B
2025
$33.3B
2024
Total reserves ranking
140/177
2025
56/177
2024
Net foreign direct investment
-$2.82M
2024
-$583M
2023
Net inflows of foreign direct investment
$2.82M
2024
$1.84B
2024
Net outflows of foreign direct investment
$0
2024
$391M
2024
Servicing debt to the IMF, % of GNI
5.11%
2024
9.68%
2024
Poverty at national poverty lines
12.4%
2022
27.4%
2012
Gross capital formation, % of GDP
42.6%
2024
1.44%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/bhutan/lebanon | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1987–1999, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.