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Economy of Ethiopia vs Lebanon compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $127B compared to $20.1B for Lebanon, ranking 62/197 and 128/197 by economy size, respectively.

Ethiopia has $59.5B in government debt (41.8% of GDP), compared to $38.6B (149.1% of GDP) in Lebanon.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Ethiopia
GDP, current $

GDP, constant 2015 $
Lebanon
GDP, current $

GDP, constant 2015 $
Year GDP
Ethiopia Lebanon
Current $ Constant $ Current $ Constant $
1960 $1,610,511,694 - - -
1961 $1,680,859,514 $5,263,329,226 - -
1962 $1,747,566,307 $5,491,025,655 - -
1963 $1,825,058,828 $5,739,145,004 - -
1964 $1,984,129,186 $5,973,903,904 - -
1965 $2,159,998,591 $6,318,713,576 - -
1966 $2,324,466,416 $6,777,237,222 - -
1967 $2,461,762,003 $7,052,500,667 - -
1968 $2,619,948,865 $7,344,628,492 - -
1969 $2,768,987,372 $7,446,620,220 - -
1970 $3,045,354,455 $7,705,965,803 - -
1971 $3,224,280,835 $8,208,893,824 - -
1972 $3,520,252,938 $8,555,896,867 - -
1973 $4,070,570,550 $8,993,092,032 - -
1974 $4,577,209,966 $9,287,495,138 - -
1975 $4,577,047,854 $9,403,229,560 - -
1976 $4,943,806,093 $9,417,222,536 - -
1977 $5,651,840,585 $9,673,906,040 - -
1978 $6,014,961,435 $9,938,971,678 - -
1979 $6,586,048,398 $9,829,567,086 - -
1980 $7,012,585,454 $10,461,034,809 - -
1981 $7,507,663,567 $10,919,390,083 - -
1982 $7,899,988,841 $11,019,413,210 - -
1983 $8,781,664,427 $11,926,862,518 - -
1984 $8,298,309,581 $11,587,182,915 - -
1985 $9,717,392,687 $10,295,866,350 - -
1986 $10,094,328,898 $11,290,613,046 - -
1987 $10,790,001,558 $12,855,416,412 - -
1988 $11,181,119,718 $12,920,165,915 $3,313,540,068 $13,590,690,652
1989 $11,762,932,007 $12,873,518,408 $2,717,998,688 $7,821,290,497
1990 $12,478,943,895 $13,224,508,680 $2,838,485,354 $9,896,526,026
1991 $13,799,799,324 $12,280,612,058 $4,690,415,093 $14,790,098,776
1992 $10,754,799,037 $11,215,578,415 $5,843,579,161 $17,221,346,343
1993 $9,051,043,870 $12,689,623,266 $7,941,744,492 $19,075,339,625
1994 $7,100,806,754 $13,094,417,753 $9,599,127,050 $20,621,442,059
1995 $7,855,205,207 $13,896,779,696 $11,718,795,529 $21,951,290,517
1996 $8,761,215,548 $15,623,617,690 $13,690,217,334 $24,428,699,054
1997 $8,803,539,988 $16,113,247,316 $15,751,867,489 $24,686,413,686
1998 $8,013,274,132 $15,556,028,804 $17,247,179,006 $25,591,349,425
1999 $7,892,973,532 $16,359,053,695 $17,391,056,369 $25,456,845,224
2000 $8,242,349,618 $17,352,574,604 $17,260,364,842 $25,798,443,406
2001 $8,231,326,016 $18,793,064,976 $17,649,751,244 $26,789,018,311
2002 $7,850,809,498 $19,077,728,362 $19,152,238,806 $27,706,046,545
2003 $8,623,691,300 $18,665,390,026 $20,082,918,740 $28,600,147,894
2004 $10,131,187,261 $21,198,769,338 $21,159,827,992 $30,510,478,932
2005 $12,401,139,454 $23,704,202,269 $21,497,336,499 $31,329,923,063
2006 $15,280,861,835 $26,272,487,888 $22,022,709,851 $31,815,384,921
2007 $19,707,616,773 $29,282,307,976 $24,827,355,015 $34,777,595,316
2008 $27,066,912,635 $32,441,436,122 $29,118,916,105 $37,931,620,044
2009 $32,437,389,116 $35,297,110,795 $35,399,582,929 $41,812,842,420
2010 $29,933,790,334 $39,727,088,220 $38,443,907,042 $45,147,473,284
2011 $31,952,763,089 $44,167,899,824 $39,927,125,962 $45,539,055,324
2012 $43,310,721,414 $47,987,456,603 $44,016,799,516 $46,707,037,069
2013 $47,648,276,605 $53,065,618,850 $46,880,103,081 $48,494,923,363
2014 $55,612,228,234 $58,508,820,968 $48,095,213,747 $49,699,566,407
2015 $64,589,328,551 $64,589,328,551 $49,929,337,837 $49,929,337,837
2016 $74,296,766,562 $70,682,351,658 $51,147,308,774 $50,705,514,063
2017 $81,770,885,148 $77,442,545,825 $53,027,680,686 $51,163,399,288
2018 $84,269,180,857 $82,721,144,198 $54,901,519,156 $50,199,119,756
2019 $95,912,620,248 $89,640,011,618 $51,605,959,131 $46,727,888,411
2020 $107,657,732,424 $95,071,775,812 $31,712,128,254 $36,728,167,163
2021 $111,261,888,669 $100,435,279,224 $23,131,941,557 $34,156,740,537
2022 $126,772,707,851 $105,780,203,624 $20,992,421,949 $33,944,395,264
2023 - $112,755,610,463 $20,078,620,357 $33,686,219,465
2024 - $121,005,590,211 - -

Economic indicators

Ethiopia Lebanon
Gross domestic product
$127B
2022
$20.1B
2023
GDP rank
62/197
2022
128/197
2023
GDP growth
13.9%
2021-2022
-4.35%
2022-2023
GDP per capita
$1,011
2022
$3,478
2023
GDP per capita rank
176/197
2022
135/197
2023
GDP per capita, PPP
$3,278
2024
$12,575
2023
Government debt
$59.5B
2022
$38.6B
2023
Debt-to-GDP ratio
41.8%
2025
149.1%
2025
Government debt per person
$474
2022
$6,680
2023
Government debt per person rank
168/185
2022
70/185
2023
Average annual personal income after taxes
$2,273
2025
$3,779
2025
Market capitalization of domestic companies n/a
$10.6B
2021
Number of billionaires n/a
6
2025
Income share by richest 10%
24.8%
2021
25.1%
2022
Income share by poorest 10%
3.5%
2021
2.8%
2022
Government expenditure, % of GDP
11.6%
2025
18.3%
2025
Consumer prices inflation
21%
2023-2024
45.2%
2023-2024
Central bank interest rate n/a
20%
2023
Unemployment rate
3.94%
2021
11.3%
2019
Population
138227398
5888008

GDP per capita in Ethiopia vs Lebanon

Ethiopia's GDP per capita is $1,011, ranking 176/197, compared to $3,478 in Lebanon, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 174th at $3,278, while Lebanon ranks 121st at $12,575.

Ethiopia
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
Year Current $
Ethiopia Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $75.3 - - -
1961 $76.7 - - -
1962 $77.8 - - -
1963 $79.2 - - -
1964 $83.8 - - -
1965 $88.9 - - -
1966 $93.2 - - -
1967 $96.1 - - -
1968 $99.5 - - -
1969 $102.3 - - -
1970 $109.4 - - -
1971 $112.7 - - -
1972 $119.8 - - -
1973 $134.9 - - -
1974 $147.9 - - -
1975 $144.3 - - -
1976 $152 - - -
1977 $170.4 - - -
1978 $178.3 - - -
1979 $192.4 - - -
1980 $203.7 - - -
1981 $212.7 - - -
1982 $215.3 - - -
1983 $232.7 - - -
1984 $214.2 - - -
1985 $243.9 - - -
1986 $246 - - -
1987 $254.1 - - -
1988 $253.2 - $959 -
1989 $256.4 - $771 -
1990 $262.1 $417 $790 $2,990
1991 $277.6 $383 $1,278 $4,527
1992 $207.4 $343 $1,559 $5,279
1993 $168.5 $384 $2,079 $5,871
1994 $127.7 $391 $2,468 $6,367
1995 $136.5 $409 $2,959 $6,796
1996 $147.3 $453 $3,393 $7,560
1997 $143.4 $461 $3,834 $7,632
1998 $126.5 $436 $4,125 $7,861
1999 $120.7 $450 $4,087 $7,793
2000 $122.3 $474 $3,987 $7,938
2001 $118.5 $509 $4,010 $8,289
2002 $109.6 $509 $4,291 $8,586
2003 $116.8 $493 $4,438 $8,914
2004 $133.2 $558 $4,601 $9,609
2005 $158.2 $625 $4,602 $10,020
2006 $189.3 $693 $4,635 $10,312
2007 $237.1 $770 $5,125 $11,356
2008 $316 $845 $5,912 $12,416
2009 $369 $899 $7,091 $13,586
2010 $331 $996 $7,626 $14,704
2011 $343 $1,098 $7,835 $14,975
2012 $452 $1,179 $8,407 $16,121
2013 $484 $1,253 $8,162 $16,316
2014 $550 $1,485 $7,578 $16,140
2015 $622 $1,633 $7,714 $17,046
2016 $696 $1,858 $8,089 $18,941
2017 $746 $2,005 $8,608 $20,964
2018 $748 $2,095 $9,175 $21,985
2019 $829 $2,242 $8,906 $21,710
2020 $905 $2,407 $5,561 $16,260
2021 $911 $2,588 $4,045 $11,600
2022 $1,011 $2,845 $3,654 $12,293
2023 - $3,061 $3,478 $12,575
2024 - $3,278 - -

Spending and national debt comparison

In 2023, Ethiopia's government spending was $16.1B, accounting for 11.6% of its GDP, while Lebanon's spent $2.67B, or 18.3% of GDP.

Debt-to-GDP ratio is 41.8% in Ethiopia and 149.1% in Lebanon, ranking 131/185 and 6/185, respectively.

Ethiopia
Government spending

Government debt
Lebanon
Government spending

Government debt
Year % of GDP
Ethiopia Lebanon
Government spending Government debt Government spending Government debt
1980 13.5% 18.5% - -
1981 14.2% 30.6% - -
1982 16.4% 48.8% - -
1983 21.3% 55.2% - -
1984 18.8% 65.4% - -
1985 19.7% 67.7% - -
1986 19.8% 75.7% - -
1987 18.4% 82.3% - -
1988 21.6% 84.3% - -
1989 24% 84.7% - -
1990 20.3% 91.6% 40% 99.7%
1991 16.8% 89.3% 35.6% 67.1%
1992 13.8% 85.4% 36.1% 51.7%
1993 13.4% 136.9% 23% 50.5%
1994 17.1% 150.7% 47.3% 71.5%
1995 16.9% 142.3% 31.1% 79.6%
1996 18.2% 129% 43.6% 101.2%
1997 17.3% 77.4% 40.5% 100.2%
1998 20.4% 86% 34.7% 108.2%
1999 25.8% 94.3% 35.6% 130.2%
2000 25.6% 93.6% 42.8% 148.1%
2001 22.4% 97.3% 38.9% 163.1%
2002 24.9% 107.4% 36.8% 163.1%
2003 27% 103.7% 36.4% 171.3%
2004 23.1% 103.1% 33.3% 169.5%
2005 22.9% 78.2% 31.4% 178.9%
2006 22.1% 79.6% 36.1% 183.3%
2007 20.5% 55.7% 35.2% 169.3%
2008 18.8% 56.1% 34.3% 161.5%
2009 17.1% 30% 32.1% 144.5%
2010 18.5% 39.4% 29.2% 136.8%
2011 18.2% 44.6% 28.8% 134.4%
2012 16.6% 39.4% 30.2% 131.1%
2013 17.8% 44.1% 28.9% 135.4%
2014 17.5% 44.2% 28.8% 138.4%
2015 17.3% 50.7% 26.7% 140.8%
2016 17.9% 51.8% 28.3% 146.4%
2017 18% 55.3% 30.6% 150%
2018 16.1% 58.4% 32.3% 155.1%
2019 15.4% 54.7% 31.3% 172.1%
2020 14.5% 53.7% 23% 148.7%
2021 13.8% 53.8% 10.2% 361%
2022 12.7% 46.9% 12.2% 246.5%
2023 10.8% 38.7% 13.3% 192.1%
2024 9.54% 32.3% 16.1% 164.1%
2025 11.6% 41.8% 18.3% 149.1%

Government deficit by year

In 2022, Ethiopia's government deficit, the difference between spending and revenue, was -$5.27B, equivalent to -4.16% of GDP. This compares to Lebanon's deficit of -$1.36B, or -6.5% of GDP.

Over the past 33 years, Ethiopia recorded a fiscal deficit in 33 of those years, while Lebanon ran a deficit in 33 years. On average, Ethiopia posted an annual deficit equal to -3.63% of GDP, compared to deficit of -13.3% of GDP for Lebanon.

Deficit/surplus
Ethiopia

Lebanon
Year Deficit/surplus, % of GDP
Ethiopia Lebanon
1980 -2.56% -
1981 -2.19% -
1982 -3.6% -
1983 -7.59% -
1984 -3.69% -
1985 -4.71% -
1986 -3.98% -
1987 -3.54% -
1988 -3.48% -
1989 -4.33% -
1990 -6.66% -30.2%
1991 -5.83% -19.5%
1992 -4.78% -24%
1993 -4% -7.19%
1994 -5.23% -29.1%
1995 -2.68% -13.6%
1996 -3.81% -25.7%
1997 -1.7% -24.5%
1998 -3.51% -17.3%
1999 -8.23% -16.7%
2000 -8.88% -23.9%
2001 -3.76% -21%
2002 -5.76% -16.2%
2003 -5.59% -14%
2004 -2.65% -9.83%
2005 -4.12% -8.57%
2006 -3.79% -10.6%
2007 -3.57% -10.9%
2008 -2.88% -9.86%
2009 -0.93% -8.1%
2010 -1.32% -7.47%
2011 -1.61% -5.94%
2012 -1.17% -8.43%
2013 -1.93% -8.82%
2014 -2.58% -6.22%
2015 -1.95% -7.48%
2016 -2.3% -8.88%
2017 -3.24% -8.65%
2018 -3.03% -11.3%
2019 -2.53% -10.5%
2020 -2.76% -7.15%
2021 -2.77% -1.98%
2022 -4.16% -6.5%
2023 -2.6% -0.11%
2024 -1.99% 0.36%
2025 -1.7% 0.01%

Inflation comparison by year

Over the past 29 years, Ethiopia has recorded an average annual inflation rate of 12.9%, compared with 26% in Lebanon. In 2024, inflation was 21% in Ethiopia and 45.2% in Lebanon.

Inflation
Ethiopia

Lebanon
Year Inflation
Ethiopia Lebanon Ethiopia Lebanon
1996 -8.48% 8.9%
1997 2.4% 7.7%
1998 0.89% 4.5%
1999 7.94% 0.2%
2000 0.66% -0.4%
2001 -8.24% -0.4%
2002 0.68% 1.8%
2003 13.7% 1.3%
2004 3.33% 1.7%
2005 9.97% -1.4%
2006 12.3% 4.1%
2007 17.2% 4.1%
2008 44.4% 10.7%
2009 8.48% 1.2%
2010 8.15% 4%
2011 33.2% 5%
2012 23.6% 6.6%
2013 7.46% 5.6%
2014 6.89% 1.1%
2015 9.57% -3.8%
2016 6.63% -0.8%
2017 10.7% 4.5%
2018 13.8% 6.1%
2019 15.8% 2.9%
2020 20.4% 84.9%
2021 26.8% 154.8%
2022 33.9% 171.2%
2023 30.2% 221.3%
2024 21% 45.2%

Top exports between countries

Ethiopia
Export category Export value
Raw agricultural goods $2.54M
Chemicals & pharma $54K
Machinery & equipment $29K
Textiles & consumer goods $20K
Processed food, beverages & tobacco $13K
Animal & marine products $3K
Precious metals & jewellery $3K
Wood & paper products $1K
Lebanon
Export category Export value
Machinery & equipment $1.32M
Chemicals & pharma $164K
Textiles & consumer goods $123K
Metals $78K
Processed food, beverages & tobacco $58K
Miscellaneous $54K
Raw agricultural goods $44K
Raw materials & minerals $20K
Wood & paper products $19K
Animal & marine products $7K

Balance of trade

Ethiopia Lebanon
Current account balance
-$4.79B
2023
-$5.64B
2023
Current account balance ranking
164/189
2023
168/189
2023
Current account balance, % of GDP
-4.07%
2022
-28.1%
2023
Goods imports
$15.3B
2023
$16.7B
2023
Goods exports
$3.47B
2023
$3.85B
2023
Service imports
$7.63B
2023
$6.63B
2023
Service exports
$7.4B
2023
$7.92B
2023
Imports of goods and services, % of GDP
11.8%
2024
73.7%
2023
Exports of goods and services, % of GDP
5.55%
2024
30.6%
2023

Economic freedom indices

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

Ethiopia Lebanon
Economic freedom 48.1 44.1
Economic freedom ranking 172/197 181/197
Property rights 27.9 22.3
Government integrity 32.7 24.5
Judicial effectiveness 19.7 22.6
Tax burden 78.2 90.3
Government spending 95.4 95.6
Fiscal health 80.9 63.6
Business freedom 45.3 47.8
Labor freedom 39.4 57.1
Monetary freedom 49.9 0
Trade freedom 57.4 65.4
Investment freedom 30 20
Financial freedom 20 20

Economic freedom by year comparison

The Economic Freedom Index for Ethiopia is 48.1, ranking 172/197, compared to 44.1 for Lebanon, ranking 181/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Ethiopia
Lebanon
Year Economic freedom index
Ethiopia Lebanon
1995 42.6 -
1996 45.9 63.2
1997 48.1 63.9
1998 49.2 59
1999 46.7 59.1
2000 50.2 56.1
2001 48.9 61
2002 49.8 57.1
2003 48.8 56.7
2004 54.5 56.9
2005 51.1 57.2
2006 50.9 57.5
2007 53.6 60.4
2008 52.5 60
2009 53 58.1
2010 51.2 59.5
2011 50.5 60.1
2012 52 60.1
2013 49.4 59.5
2014 50 59.4
2015 51.5 59.3
2016 51.5 59.5
2017 52.7 53.3
2018 52.8 53.2
2019 53.6 51.1
2020 53.6 51.7
2021 51.7 51.4
2022 49.6 47.3
2023 48.3 45.6
2024 47.9 48.3
2025 48.1 44.1

More economic indicators

Ethiopia Lebanon
Services, % of GDP
37.6%
2024
42.4%
2023
Industry, % of GDP
25.4%
2024
2.09%
2023
Agriculture, forestry, and fishing, % of GDP
34.9%
2024
0.97%
2023
GNI, Atlas method
$126B
2022
$21.6B
2023
GNI per capita, PPP
$3,270
2024
$12,530
2023
Total reserves including gold
$3.78B
2024
$33.3B
2024
Total reserves ranking
109/177
2024
54/177
2024
Net foreign direct investment
-$3.26B
2023
-$583M
2023
Net inflows of foreign direct investment
$3.98B
2024
$1.84B
2024
Net outflows of foreign direct investment
$0
1989
$391M
2024
Servicing debt to the IMF, % of GNI
1.59%
2022
21.8%
2023
Poverty at national poverty lines
33.1%
2021
27.4%
2012
Gross capital formation, % of GDP
25.3%
2022
1.9%
2023

GDP per capita map

GDP per capita

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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.