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Economy of Guinea-Bissau vs Lebanon compared: GDP & Debt

Updated on by Georank team

Guinea-Bissau has a GDP of $2.22B compared to $20.1B for Lebanon, ranking 176/197 and 128/197 by economy size, respectively.

Guinea-Bissau has $1.82B in government debt (82.2% of GDP), compared to $38.7B (163.8% of GDP) in Lebanon.

Guinea-Bissau vs Lebanon GDP by year

Guinea-Bissau
Lebanon
1x
Year GDP, current $
Guinea-Bissau Lebanon
2024 $2,218,393,805 -
2023 $2,127,688,181 $20,078,620,357
2022 $1,859,601,384 $20,992,421,949
2021 $1,908,094,558 $23,131,941,557
2020 $1,705,057,581 $31,712,128,254
2019 $1,596,227,316 $51,605,959,131
2018 $1,554,133,594 $54,901,519,156
2017 $1,469,978,606 $53,027,680,686
2016 $1,245,074,264 $51,147,308,774
2015 $1,152,384,167 $49,929,337,837
2014 $1,135,250,721 $48,095,213,747
2013 $1,109,682,824 $46,880,103,081
2012 $1,049,412,177 $44,016,799,516
2011 $1,157,074,319 $39,927,125,962
2010 $940,112,539 $38,443,907,042
2009 $890,167,833 $35,399,582,929
2008 $952,667,544 $29,118,916,105
2007 $753,162,998 $24,827,355,015
2006 $634,781,901 $22,022,709,851
2005 $639,776,041 $21,497,336,499
2004 $582,169,841 $21,159,827,992
2003 $553,614,800 $20,082,918,740
2002 $466,773,711 $19,152,238,806
2001 $412,610,872 $17,649,751,244
2000 $391,345,597 $17,260,364,842
1999 $579,365,780 $17,391,056,369
1998 $591,034,143 $17,247,179,006
1997 $698,107,222 $15,751,867,489
1996 $702,965,148 $13,690,217,334
1995 $660,195,402 $11,718,795,529
1994 $612,502,085 $9,599,127,050
1993 $615,779,519 $7,941,744,492
1992 $588,309,271 $5,843,579,161
1991 $668,470,891 $4,690,415,093
1990 $634,187,269 $2,838,485,354
1989 $554,072,303 $2,717,998,688
1988 $427,514,322 $3,313,540,068
1987 $451,893,375 -
1986 $338,524,233 -
1985 $373,959,151 -
1984 $359,980,491 -
1983 $425,225,177 -
1982 $430,284,022 -
1981 $402,230,865 -
1980 $287,648,258 -
1979 $308,143,183 -
1978 $318,876,550 -
1977 $298,871,675 -
1976 $292,152,321 -
1975 $283,311,997 -
1974 $256,769,730 -
1973 $232,331,281 -
1972 $227,986,203 -
1971 $204,167,297 -
1970 $204,670,551 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

GDP per capita in Guinea-Bissau vs Lebanon by year

Guinea-Bissau
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Guinea-Bissau Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,008 $3,119 - -
2023 $988 $2,990 $3,478 $12,575
2022 $883 $2,789 $3,654 $12,293
2021 $927 $2,523 $4,045 $11,600
2020 $847 $2,340 $5,561 $16,260
2019 $811 $2,247 $8,906 $21,710
2018 $809 $2,058 $9,175 $21,985
2017 $783 $2,082 $8,608 $20,964
2016 $680 $1,824 $8,089 $18,941
2015 $645 $1,730 $7,714 $17,046
2014 $652 $1,456 $7,578 $16,140
2013 $654 $1,416 $8,162 $16,316
2012 $635 $1,402 $8,407 $16,121
2011 $720 $1,472 $7,835 $14,975
2010 $600 $1,370 $7,626 $14,704
2009 $583 $1,315 $7,091 $13,586
2008 $640 $1,309 $5,912 $12,416
2007 $519 $1,260 $5,125 $11,356
2006 $449 $1,226 $4,635 $10,312
2005 $463 $1,187 $4,602 $10,020
2004 $431 $1,105 $4,601 $9,609
2003 $420 $1,089 $4,438 $8,914
2002 $362 $1,095 $4,291 $8,586
2001 $327 $1,064 $4,010 $8,289
2000 $317 $1,014 $3,987 $7,938
1999 $479 $1,001 $4,087 $7,793
1998 $498 $861 $4,125 $7,861
1997 $599 $1,118 $3,834 $7,632
1996 $615 $1,052 $3,393 $7,560
1995 $589 $945 $2,959 $6,796
1994 $561 $909 $2,468 $6,367
1993 $582 $890 $2,079 $5,871
1992 $574 $880 $1,559 $5,279
1991 $672 $877 $1,278 $4,527
1990 $651 $824 $790 $2,990
1989 $578 - $771 -
1988 $454 - $959 -
1987 $488 - - -
1986 $371 - - -
1985 $417 - - -
1984 $407 - - -
1983 $489 - - -
1982 $503 - - -
1981 $477 - - -
1980 $347 - - -
1979 $376 - - -
1978 $403 - - -
1977 $403 - - -
1976 $421 - - -
1975 $435 - - -
1974 $419 - - -
1973 $392 - - -
1972 $389 - - -
1971 $348 - - -
1970 $350 - - -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

Guinea-Bissau's GDP per capita is $1,008, ranking 177/197, compared to $3,478 in Lebanon, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Guinea-Bissau ranks 179th at $3,119, while Lebanon ranks 123rd at $12,575.

Economic indicators

Guinea-Bissau Lebanon
Gross domestic product
$2.22B
2024
$20.1B
2023
GDP rank
176/197
2024
128/197
2023
GDP growth
4.15%
2023-2024
-0.76%
2022-2023
GDP per capita
$1,008
2024
$3,478
2023
GDP per capita rank
177/197
2024
135/197
2023
GDP per capita, PPP
$3,119
2024
$12,575
2023
GDP per capita PPP rank
179/197
2024
123/197
2023
Government debt
$1.82B
2024
$38.7B
2023
Debt-to-GDP ratio
82.2%
2024
163.8%
2024
Government debt per person
$828
2024
$6,704
2023
Government debt per person rank
146/185
2024
70/185
2023
Average annual personal income after taxes
$1,711
2026
$3,560
2026
Market capitalization of domestic companies n/a
$10.6B
2021
Number of billionaires n/a
6
2025
Income share by richest 10%
26.1%
2021
25.1%
2022
Income share by poorest 10%
3.4%
2021
2.8%
2022
Government expenditure, % of GDP
20.4%
2024
16.5%
2024
Consumer prices inflation
3.7%
2023-2024
45.2%
2023-2024
Central bank interest rate n/a
20%
2023
Unemployment rate
2.67%
2022
11.3%
2019
Population
2311915
5906622

Spending and national debt comparison by year

Guinea-Bissau
Spending

Debt
Lebanon
Spending

Debt
1x
Year % of GDP
Guinea-Bissau Lebanon
Government spending Government debt Government spending Government debt
2024 20.4% 82.2% 16.5% 163.8%
2023 21.9% 79.4% 14.9% 192.8%
2022 21.3% 80.7% 13.4% 244.6%
2021 25% 78.8% 10.9% 358%
2020 25% 77.6% 23.2% 148.7%
2019 18.8% 65.1% 31.3% 172.1%
2018 19.5% 59.1% 32.3% 155.1%
2017 18.1% 51.8% 30.6% 150%
2016 20.5% 59.1% 28.3% 146.4%
2015 21.5% 56.3% 26.7% 140.8%
2014 23% 60.1% 28.8% 138.4%
2013 12.4% 49.6% 28.9% 135.4%
2012 13% 47.4% 30.2% 131.1%
2011 17.3% 45.6% 28.8% 134.4%
2010 18.5% 61.7% 29.2% 136.8%
2009 20.6% 148.3% 32.1% 144.5%
2008 21.8% 148.8% 34.3% 161.5%
2007 23.7% 164% 35.2% 169.3%
2006 19.8% 190.4% 36.1% 183.3%
2005 20.2% 203.7% 31.4% 178.9%
2004 23% 202% 33.3% 169.5%
2003 17% 183.4% 36.4% 171.3%
2002 14.1% 197.5% 36.8% 163.1%
2001 19.1% 204.4% 38.9% 163.1%
2000 23.5% 217.1% 42.8% 148.1%
1999 12.1% 109.9% 35.6% 130.2%
1998 8.72% 109.1% 34.7% 108.2%
1997 12.7% 94.3% 40.5% 100.2%
1996 8.93% 117.3% 43.6% 101.2%
1995 8.14% 103.3% 31.1% 79.6%
1994 18.4% 105.5% 47.3% 71.5%
1993 13.1% 112.4% 23% 50.5%
1992 10.1% 85.3% 36.1% 51.7%
1991 9.19% 88.9% 35.6% 67.1%
1990 - - 40% 99.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1999, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

In 2024, Guinea-Bissau's government spending was $452M, accounting for 20.4% of its GDP, while Lebanon spent $2.99B, or 16.5% of GDP.

Debt-to-GDP ratio is 82.2% in Guinea-Bissau and 163.8% in Lebanon, ranking 41/185 and 6/185, respectively.

Government deficit by year

Deficit/surplus
Guinea-Bissau

Lebanon
1x
Year Deficit/surplus, % of GDP
Guinea-Bissau Lebanon
2024 -7.26% -0.19%
2023 -8.15% -1.7%
2022 -6.06% -7.77%
2021 -5.88% -2.67%
2020 -9.64% -7.37%
2019 -3.86% -10.5%
2018 -4.76% -11.3%
2017 -1.32% -8.65%
2016 -5.34% -8.88%
2015 -3.16% -7.48%
2014 -2.44% -6.22%
2013 -1.67% -8.82%
2012 -2.12% -8.43%
2011 -1.35% -5.94%
2010 -0.23% -7.47%
2009 2.68% -8.1%
2008 -0.73% -9.86%
2007 -8.77% -10.9%
2006 -4.57% -10.6%
2005 -4.96% -8.57%
2004 -5.92% -9.83%
2003 -5.63% -14%
2002 -3.7% -16.2%
2001 -1.83% -21%
2000 -2.8% -23.9%
1999 -4.06% -16.7%
1998 -5.95% -17.3%
1997 -2.56% -24.5%
1996 3.48% -25.7%
1995 2.45% -13.6%
1994 -5.54% -29.1%
1993 -0.34% -7.19%
1992 -0.25% -24%
1991 1.61% -19.5%
1990 - -30.2%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

In 2023, Guinea-Bissau's government deficit, the difference between spending and revenue, was $173M, equivalent to 8.15% of GDP. This compares to Lebanon's deficit of $342M, or 1.7% of GDP.

Over the past 33 years, Guinea-Bissau recorded a fiscal deficit in 29 of those years, while Lebanon ran a deficit in 33 years. On average, Guinea-Bissau posted an annual deficit equal to 3.13% of GDP, compared to deficit of 12.5% of GDP for Lebanon.

Inflation comparison by year

Inflation
Guinea-Bissau

Lebanon
1x
Year Consumer prices inflation
Guinea-Bissau Lebanon
2024 3.7% 45.2%
2023 7.2% 221.3%
2022 7.9% 171.2%
2021 3.3% 154.8%
2020 1.5% 84.9%
2019 0.3% 2.9%
2018 0.4% 6.1%
2017 -0.2% 4.5%
2016 2.7% -0.8%
2015 1.5% -3.8%
2014 -1% 1.1%
2013 0.8% 5.6%
2012 2.1% 6.6%
2011 5.1% 5%
2010 1.1% 4%
2009 -1.6% 1.2%
2008 10.4% 10.7%
2007 4.6% 4.1%
2006 2% 4.1%
2005 3.4% -1.4%
2004 0.8% 1.7%
2003 -3.5% 1.3%
2002 3.3% 1.8%
2001 3.3% -0.4%
2000 8.6% -0.4%
1999 -2.1% 0.2%
1998 8.1% 4.5%
1997 49.1% 7.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

Over the past 28 years, Guinea-Bissau has recorded an average annual inflation rate of 4.39%, compared with 26.6% in Lebanon. In 2024, inflation was 3.7% in Guinea-Bissau and 45.2% in Lebanon.

Top exports between countries

Guinea-Bissau
Export category Export value
Lebanon
Export category Export value
Machinery & equipment $130K
Chemicals & pharma $43K
Textiles & consumer goods $28K
Processed food, beverages & tobacco $22K
Raw agricultural goods $10K
Raw materials & minerals $10K
Metals $9K
Miscellaneous $4K
Wood & paper products $4K

Balance of trade

Guinea-Bissau Lebanon
Current account balance
-$160M
2023
-$5.64B
2023
Current account balance ranking
95/190
2023
168/190
2023
Current account balance, % of GDP
-7.53%
2023
-28.1%
2023
Goods imports
$403M
2023
$16.7B
2023
Goods exports
$240M
2023
$3.85B
2023
Service imports
$189M
2023
$6.63B
2023
Service exports
$44.8M
2023
$7.92B
2023
Imports of goods and services, % of GDP
27%
2024
73.7%
2023
Exports of goods and services, % of GDP
11.8%
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.

Guinea-Bissau Lebanon
Economic freedom 43.2 43.1
Economic freedom ranking 181/197 183/197
Property rights 28.4 21.8
Government integrity 21 23.4
Judicial effectiveness 13.2 23.8
Tax burden 89 90.3
Government spending 86.5 93.3
Fiscal health 6.5 63.4
Business freedom 34.6 47.6
Labor freedom 55.9 48.4
Monetary freedom 75.9 0
Trade freedom 47 65.6
Investment freedom 30 20
Financial freedom 30 20

Economic freedom comparison by year

Guinea-Bissau
Lebanon
1x
Year Economic freedom index
Guinea-Bissau Lebanon
2026 43.2 43.1
2025 43.6 44.1
2024 42.7 48.3
2023 44.6 45.6
2022 46 47.3
2021 54.9 51.4
2020 53.3 51.7
2019 54 51.1
2018 56.9 53.2
2017 56.1 53.3
2016 51.8 59.5
2015 52 59.3
2014 51.3 59.4
2013 51.1 59.5
2012 50.1 60.1
2011 46.5 60.1
2010 43.6 59.5
2009 45.4 58.1
2008 44.4 60
2007 46.1 60.4
2006 46.5 57.5
2005 46 57.2
2004 42.6 56.9
2003 43.1 56.7
2002 42.3 57.1
2001 42.5 61
2000 34.7 56.1
1999 33.5 59.1
1998 - 59
1997 - 63.9
1996 - 63.2

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

The Economic Freedom Index for Guinea-Bissau is 43.2, ranking 181/197, 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

Guinea-Bissau Lebanon
Services, % of GDP
37.9%
2024
42.4%
2023
Industry, % of GDP
15.6%
2024
2.09%
2023
Agriculture, forestry, and fishing, % of GDP
42.2%
2024
0.97%
2023
GNI, Atlas method
$2.18B
2024
$21.4B
2023
GNI per capita, PPP
$3,140
2024
$12,420
2023
Total reserves including gold n/a
$33.3B
2024
Total reserves ranking n/a
54/177
2024
Net foreign direct investment
-$24.8M
2023
-$583M
2023
Net inflows of foreign direct investment
$26.7M
2024
$1.84B
2024
Net outflows of foreign direct investment
$389K
2024
$391M
2024
Servicing debt to the IMF, % of GNI
1.75%
2024
22%
2023
Poverty at national poverty lines
50.5%
2021
27.4%
2012
Gross capital formation, % of GDP
24.9%
2024
1.9%
2023

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/guinea-bissau/lebanon | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1999, retrieved 2026-02-20)
  6. TradeMap (2022–2023, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.