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Economy of Ghana vs Lebanon compared: GDP & Debt

Updated on by Georank

Ghana has a GDP of $114B compared to $26B for Lebanon, ranking 69/197 and 121/197 by economy size, respectively.

Ghana has $55.8B in government debt (48.8% of GDP), compared to $41B (139.4% of GDP) in Lebanon.

Ghana vs Lebanon GDP by year

Ghana
Lebanon
1x
Year GDP, current $
Ghana Lebanon
2025 $114,209,905,279 -
2024 $83,288,585,604 $25,971,643,441
2023 $80,547,146,876 $20,078,620,357
2022 $73,919,003,212 $20,992,421,949
2021 $79,514,204,730 $23,131,941,557
2020 $70,008,243,860 $31,712,128,254
2019 $68,352,629,246 $51,605,959,131
2018 $67,259,353,966 $54,901,519,156
2017 $60,385,409,435 $53,027,680,686
2016 $56,144,179,398 $51,147,308,774
2015 $49,436,806,230 $49,929,337,837
2014 $54,678,533,806 $48,095,213,747
2013 $62,845,721,960 $46,880,103,081
2012 $41,271,701,061 $44,016,799,516
2011 $39,336,668,081 $39,927,125,962
2010 $32,197,655,567 $38,443,907,042
2009 $26,048,720,006 $35,399,582,929
2008 $28,679,383,241 $29,118,916,105
2007 $24,827,339,138 $24,827,355,015
2006 $20,885,037,597 $22,022,709,851
2005 $10,744,568,381 $21,497,336,499
2004 $8,881,417,907 $21,159,827,992
2003 $7,632,723,556 $20,082,918,740
2002 $6,166,197,848 $19,152,238,806
2001 $5,314,872,854 $17,649,751,244
2000 $4,982,850,662 $17,260,364,842
1999 $7,718,109,982 $17,391,056,369
1998 $7,482,069,162 $17,247,179,006
1997 $6,891,443,192 $15,751,867,489
1996 $6,932,991,739 $13,690,217,334
1995 $6,464,382,808 $11,718,795,529
1994 $5,446,383,727 $9,599,127,050
1993 $5,968,922,939 $7,941,744,492
1992 $6,416,103,926 $5,843,579,161
1991 $6,603,185,268 $4,690,415,093
1990 $5,889,106,573 $2,838,485,354
1989 $5,251,858,440 $2,717,998,688
1988 $5,197,765,032 $3,313,540,068
1987 $5,074,829,932 -
1986 $5,735,677,434 -
1985 $4,504,306,723 -
1984 $4,412,279,843 -
1983 $4,057,275,132 -
1982 $4,035,994,398 -
1981 $4,222,441,860 -
1980 $4,445,228,216 -
1979 $4,020,227,920 -
1978 $3,662,478,185 -
1977 $3,189,428,571 -
1976 $2,765,254,237 -
1975 $2,810,106,383 -
1974 $2,894,409,938 -
1973 $3,006,766,758 -
1972 $2,112,293,280 -
1971 $2,417,108,578 -
1970 $2,215,028,588 -
1969 $1,962,050,556 -
1968 $1,666,909,518 -
1967 $1,747,187,645 -
1966 $2,126,300,672 -
1965 $2,053,462,968 -
1964 $1,731,296,200 -
1963 $1,540,797,589 -
1962 $1,382,515,654 -
1961 $1,302,674,325 -
1960 $1,217,230,095 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Ghana vs Lebanon by year

Ghana
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ghana Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $3,257 - - -
2024 $2,419 $8,020 $4,473 -
2023 $2,384 $7,556 $3,478 $12,575
2022 $2,230 $7,208 $3,654 $12,293
2021 $2,445 $6,608 $4,045 $11,600
2020 $2,195 $6,047 $5,561 $16,260
2019 $2,187 $6,003 $8,906 $21,710
2018 $2,195 $5,536 $9,175 $21,985
2017 $2,012 $5,171 $8,608 $20,964
2016 $1,912 $5,011 $8,089 $18,941
2015 $1,723 $5,191 $7,714 $17,046
2014 $1,950 $5,517 $7,578 $16,140
2013 $2,295 $5,215 $8,162 $16,316
2012 $1,544 $4,934 $8,407 $16,121
2011 $1,507 $4,381 $7,835 $14,975
2010 $1,264 $3,855 $7,626 $14,704
2009 $1,048 $3,617 $7,091 $13,586
2008 $1,183 $3,516 $5,912 $12,416
2007 $1,050 $3,241 $5,125 $11,356
2006 $906 $3,103 $4,635 $10,312
2005 $479 $2,904 $4,602 $10,020
2004 $406 $2,729 $4,601 $9,609
2003 $358 $2,584 $4,438 $8,914
2002 $297.5 $2,475 $4,291 $8,586
2001 $263.5 $2,397 $4,010 $8,289
2000 $253.7 $2,315 $3,987 $7,938
1999 $403 $2,239 $4,087 $7,793
1998 $400 $2,167 $4,125 $7,861
1997 $378 $2,097 $3,834 $7,632
1996 $389 $2,026 $3,393 $7,560
1995 $372 $1,947 $2,959 $6,796
1994 $321 $1,875 $2,468 $6,367
1993 $360 $1,821 $2,079 $5,871
1992 $396 $1,739 $1,559 $5,279
1991 $418 $1,678 $1,278 $4,527
1990 $383 $1,581 $790 $2,990
1989 $350 - $771 -
1988 $355 - $959 -
1987 $355 - - -
1986 $411 - - -
1985 $330 - - -
1984 $330 - - -
1983 $311 - - -
1982 $319 - - -
1981 $344 - - -
1980 $372 - - -
1979 $347 - - -
1978 $326 - - -
1977 $292.3 - - -
1976 $261 - - -
1975 $273 - - -
1974 $289.4 - - -
1973 $310 - - -
1972 $223.8 - - -
1971 $263.4 - - -
1970 $248.2 - - -
1969 $225.8 - - -
1968 $196.7 - - -
1967 $211.2 - - -
1966 $263.3 - - -
1965 $260.5 - - -
1964 $225 - - -
1963 $205 - - -
1962 $188.4 - - -
1961 $181.9 - - -
1960 $174.9 - - -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Ghana's GDP per capita is $3,257, ranking 139/197, compared to $4,473 in Lebanon, ranking 129/197. Adjusted for purchasing power (GDP per capita PPP), Ghana ranks 140th at $8,020, while Lebanon ranks 123rd at $12,575.

Economic indicators

Ghana Lebanon
Gross domestic product
$114B
2025
$26B
2024
GDP rank
69/197
2025
121/197
2024
GDP growth
5.95%
2024-2025
-7.08%
2023-2024
GDP per capita
$3,257
2025
$4,473
2024
GDP per capita rank
139/197
2025
129/197
2024
GDP per capita, PPP
$8,020
2024
$12,575
2023
GDP per capita PPP rank
140/197
2024
123/197
2023
Government debt
$55.8B
2025
$41B
2024
Debt-to-GDP ratio
48.8%
2025
139.4%
2025
Government debt per person
$1,590
2025
$7,061
2024
Government debt per person rank
128/185
2025
71/185
2024
Average annual personal income after taxes
$2,135
2026
$3,055
2026
Market capitalization of domestic companies
$16.4B
2025
$10.6B
2021
Number of billionaires n/a
6
2026
Income share by richest 10%
32.2%
2016
25.6%
2022
Income share by poorest 10%
1.6%
2016
2.8%
2022
Government expenditure, % of GDP
17%
2025
15.5%
2025
Consumer prices inflation
14.2%
2024-2025
14.6%
2024-2025
Central bank interest rate
14%
2026
20%
2023
Unemployment rate
3.97%
2024
11.3%
2019
Population
36032857
5921719

Spending and national debt comparison by year

Ghana
Spending

Debt
Lebanon
Spending

Debt
1x
Year % of GDP
Ghana Lebanon
Government spending Government debt Government spending Government debt
2025 17% 48.8% 15.5% 139.4%
2024 22% 70.3% 15.3% 157.9%
2023 18.5% 79.1% 14.3% 185.8%
2022 27.5% 92.7% 12.9% 235.9%
2021 27.2% 86.9% 10.5% 346%
2020 31.5% 79.1% 24.5% 157.2%
2019 22.5% 62.9% 31.3% 171.9%
2018 20.9% 62% 32.1% 154%
2017 17.6% 57% 30.7% 150.4%
2016 19.9% 55.9% 28.6% 147.9%
2015 18.6% 53.9% 26.7% 140.9%
2014 21% 50.1% 28.9% 138.5%
2013 21.6% 42.9% 28.9% 135.4%
2012 22.1% 35.5% 30.2% 131.1%
2011 19.5% 31.2% 28.8% 134.4%
2010 19% 32.9% 29.2% 136.8%
2009 16.6% 25.4% 32.1% 144.5%
2008 16.6% 23.2% 34.3% 161.5%
2007 16.8% 21.1% 35.2% 169.3%
2006 14.4% 17.3% 36.1% 183.3%
2005 12.9% 31.7% 31.4% 178.9%
2004 13.7% 38.4% 33.3% 169.5%
2003 12.1% 49.3% 36.4% 171.3%
2002 10.7% 54.1% 36.8% 163.1%
2001 13.8% 57.8% 38.9% 163.1%
2000 12% 74.5% 42.8% 148.1%
1999 11.1% 51.7% 35.6% 130.2%
1998 11.8% 37.6% 34.7% 108.2%
1997 12% 45.2% 40.5% 100.2%
1996 12.4% 42.9% 43.6% 101.2%
1995 13% 47.6% 31.1% 79.6%
1994 12.7% 50.6% 47.3% 71.5%
1993 12.1% 34.1% 23% 50.5%
1992 9.2% 21.3% 36.1% 51.7%
1991 7.09% 17.3% 35.6% 67.1%
1990 6.59% 17.8% 40% 99.7%
1989 7.24% 23% - -
1988 7.23% 23.5% - -
1987 7.32% 26.8% - -
1986 7.29% 18.2% - -
1985 6.08% 14.4% - -
1984 4.64% 13% - -
1983 3.49% 9.21% - -
1982 4.73% 8.51% - -
1981 5.74% 8.77% - -
1980 7.51% 9.75% - -
1979 9.14% 11.5% - -
1978 6.54% 11.4% - -
1977 10.5% 20.7% - -
1976 12.8% 26% - -
1975 13.2% 21.8% - -
1974 9.52% 21.8% - -
1973 9.35% 25.4% - -
1972 11.4% 29.8% - -
1971 11.7% 29.5% - -
1970 12.2% 31.9% - -
1969 11.2% 31.4% - -
1968 12.3% 34.5% - -
1967 11.5% 33.9% - -
1966 9.12% 29.8% - -
1965 14.2% 30.2% - -
1964 15.8% 30.8% - -
1963 15.3% 30.5% - -
1962 12.5% 11.8% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08).

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

In 2025, Ghana's government spending was $19.4B, accounting for 17% of its GDP, while Lebanon spent $3.98B, or 15.5% of GDP.

Debt-to-GDP ratio is 48.8% in Ghana and 139.4% in Lebanon, ranking 108/185 and 8/185, respectively.

Government deficit by year

Deficit/surplus
Ghana

Lebanon
1x
Year Deficit/surplus, % of GDP
Ghana Lebanon
2025 -1.35% 3.25%
2024 -6.23% 0.39%
2023 -3.37% -1.64%
2022 -11.8% -7.49%
2021 -12% -2.57%
2020 -17.4% -7.79%
2019 -7.52% -10.5%
2018 -6.79% -11.2%
2017 -3.97% -8.68%
2016 -6.75% -8.98%
2015 -4.01% -7.49%
2014 -7.81% -6.22%
2013 -9.12% -8.83%
2012 -8.36% -8.43%
2011 -5.47% -5.94%
2010 -7.13% -7.47%
2009 -5.05% -8.1%
2008 -5.56% -9.86%
2007 -4.91% -10.9%
2006 -3.11% -10.6%
2005 -1.87% -8.57%
2004 -2.02% -9.83%
2003 -1.99% -14%
2002 -2.73% -16.2%
2001 -3.64% -21%
2000 -3.98% -23.9%
1999 -5.64% -16.7%
1998 -5.27% -17.3%
1997 -6.14% -24.5%
1996 -5.61% -25.7%
1995 -4.52% -13.6%
1994 -4.99% -29.1%
1993 -5.39% -7.19%
1992 -4.5% -24%
1991 -1.47% -19.5%
1990 -1.93% -30.2%
1989 -0.81% -
1988 -1.08% -
1987 -0.92% -
1986 -1.26% -
1985 -1.19% -
1984 -0.98% -
1983 -1.13% -
1982 -2.03% -
1981 -3.8% -
1980 -4.73% -
1979 -3.61% -
1978 -1.21% -
1977 -4.68% -
1976 -5.53% -
1975 -4.05% -
1974 -2.06% -
1973 -2.64% -
1972 -2.19% -
1971 0.13% -
1970 -2.35% -
1969 -2.67% -
1968 -2.34% -
1967 -2.32% -
1966 -1.29% -
1965 -3.29% -
1964 -3.72% -
1963 -5.66% -
1962 -5.04% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2024, Ghana's government deficit, the difference between spending and revenue, was $5.19B, equivalent to 6.23% of GDP. This compares to Lebanon's surplus of $102M, or 0.39% of GDP.

Over the past 35 years, Ghana recorded a fiscal deficit in 35 of those years, while Lebanon ran a deficit in 34 years. On average, Ghana posted an annual deficit equal to 5.66% of GDP, compared to deficit of 12.7% of GDP for Lebanon.

Inflation comparison by year

Inflation
Ghana

Lebanon
1x
Year Consumer prices inflation
Ghana Lebanon
2025 14.2% 14.6%
2024 22.8% 45.2%
2023 38.1% 221.3%
2022 31.3% 171.2%
2021 9.97% 154.8%
2020 9.89% 84.9%
2019 7.14% 2.9%
2018 7.81% 6.1%
2017 12.4% 4.4%
2016 17.5% -0.8%
2015 17.1% -3.7%
2014 15.5% 1.9%
2013 11.7% 4.8%
2012 11.2% 6.6%
2011 8.73% 5%
2010 10.7% 4%
2009 19.2% 1.2%
2008 16.5% 10.7%
2007 10.7% 4.1%
2006 11.7% 4.1%
2005 15.4% -1.4%
2004 18% 1.7%
2003 29.8% 1.3%
2002 9.36% 1.8%
2001 41.5% -0.4%
2000 40.2% -0.4%
1999 4.87% 0.2%
1998 14.6% 4.5%
1997 27.9% 7.7%

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

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

Over the past 29 years, Ghana has recorded an average annual inflation rate of 17.4%, compared with 26.1% in Lebanon. In 2025, inflation was 14.2% in Ghana and 14.6% in Lebanon.

Top exports between countries

Ghana
Export category Export value
Metals $3.52M
Precious metals & jewellery $2.47M
Wood & paper products $824K
Processed food, beverages & tobacco $772K
Raw agricultural goods $346K
Machinery & equipment $318K
Textiles & consumer goods $47K
Animal & marine products $8K
Chemicals & pharma $5K
Weapons & explosives $3K
Lebanon
Export category Export value
Machinery & equipment $21.4M
Metals $3.22M
Chemicals & pharma $2.98M
Processed food, beverages & tobacco $2.94M
Miscellaneous $1.64M
Textiles & consumer goods $1.28M
Raw agricultural goods $1.12M
Wood & paper products $451K
Animal & marine products $386K
Raw materials & minerals $160K

Balance of trade

Ghana Lebanon
Current account balance
$9.39B
2025
-$5.64B
2023
Current account balance ranking
25/190
2025
166/190
2023
Current account balance, % of GDP
+8.22%
2025
-28.1%
2023
Goods imports
$17.5B
2025
$16.7B
2023
Goods exports
$31.2B
2025
$3.85B
2023
Service imports
$14.6B
2025
$6.63B
2023
Service exports
$10.1B
2025
$7.92B
2023
Imports of goods and services, % of GDP
33.9%
2024
58.9%
2024
Exports of goods and services, % of GDP
35.1%
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.

Ghana Lebanon
Economic freedom 57.3 43.1
Economic freedom ranking 118/197 183/197
Property rights 50.2 21.8
Government integrity 45.4 23.4
Judicial effectiveness 57.5 23.8
Tax burden 79.4 90.3
Government spending 84 93.3
Fiscal health 10.1 63.4
Business freedom 64.5 47.6
Labor freedom 54.9 48.4
Monetary freedom 56.7 0
Trade freedom 65.2 65.6
Investment freedom 60 20
Financial freedom 60 20

Economic freedom comparison by year

Ghana
Lebanon
1x
Year Economic freedom index
Ghana Lebanon
2026 57.3 43.1
2025 56 44.1
2024 55.8 48.3
2023 58 45.6
2022 59.8 47.3
2021 59.2 51.4
2020 59.4 51.7
2019 57.5 51.1
2018 56 53.2
2017 56.2 53.3
2016 63 59.5
2015 63 59.3
2014 64.2 59.4
2013 61.3 59.5
2012 60.7 60.1
2011 59.4 60.1
2010 60.2 59.5
2009 58.1 58.1
2008 57 60
2007 57.6 60.4
2006 55.6 57.5
2005 56.5 57.2
2004 59.1 56.9
2003 58.2 56.7
2002 57.2 57.1
2001 58 61
2000 58.1 56.1
1999 57.9 59.1
1998 57 59
1997 56.7 63.9
1996 57.7 63.2
1995 55.6 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Ghana is 57.3, ranking 118/197, 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

Ghana Lebanon
Services, % of GDP
42.9%
2025
35.7%
2024
Industry, % of GDP
29.3%
2025
2.63%
2024
Agriculture, forestry, and fishing, % of GDP
21.3%
2025
1.05%
2024
GNI, Atlas method
$92.3B
2025
$20.7B
2024
GNI per capita, PPP
$8,080
2025
$11,790
2024
Total reserves including gold
$4.47B
2024
$33.3B
2024
Total reserves ranking
108/177
2024
56/177
2024
Net foreign direct investment
-$1.87B
2025
-$583M
2023
Net inflows of foreign direct investment
$1.77B
2024
$1.84B
2024
Net outflows of foreign direct investment
$5.37M
2024
$391M
2024
Servicing debt to the IMF, % of GNI
3.5%
2024
9.68%
2024
Poverty at national poverty lines
23.4%
2016
27.4%
2012
Gross capital formation, % of GDP
9.9%
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/ghana/lebanon | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.