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Economy of Kuwait vs Lebanon compared: GDP & Debt

Updated on by Georank team

Kuwait has a GDP of $160B compared to $20.1B for Lebanon, ranking 59/197 and 128/197 by economy size, respectively.

Kuwait has $4.68B in government debt (2.92% of GDP), compared to $38.7B (163.8% of GDP) in Lebanon.

Kuwait vs Lebanon GDP by year

Kuwait
Lebanon
1x
Year GDP, current $
Kuwait Lebanon
2024 $160,227,273,053 -
2023 $165,384,407,116 $20,078,620,357
2022 $183,502,046,694 $20,992,421,949
2021 $148,350,671,489 $23,131,941,557
2020 $111,045,470,606 $31,712,128,254
2019 $140,856,394,861 $51,605,959,131
2018 $138,646,316,351 $54,901,519,156
2017 $120,687,539,806 $53,027,680,686
2016 $109,406,674,125 $51,147,308,774
2015 $114,585,555,689 $49,929,337,837
2014 $162,650,450,685 $48,095,213,747
2013 $174,168,116,535 $46,880,103,081
2012 $174,047,662,680 $44,016,799,516
2011 $154,039,231,246 $39,927,125,962
2010 $115,416,245,242 $38,443,907,042
2009 $105,968,691,905 $35,399,582,929
2008 $147,379,737,230 $29,118,916,105
2007 $114,634,043,362 $24,827,355,015
2006 $101,557,330,723 $22,022,709,851
2005 $80,798,630,137 $21,497,336,499
2004 $59,439,090,601 $21,159,827,992
2003 $47,874,582,232 $20,082,918,740
2002 $38,135,788,414 $19,152,238,806
2001 $34,889,559,870 $17,649,751,244
2000 $37,718,743,480 $17,260,364,842
1999 $30,122,365,849 $17,391,056,369
1998 $25,943,705,784 $17,247,179,006
1997 $30,350,190,704 $15,751,867,489
1996 $31,492,373,309 $13,690,217,334
1995 $27,186,980,647 $11,718,795,529
1994 $24,848,483,838 $9,599,127,050
1993 $23,941,391,391 $7,941,744,492
1992 $19,858,555,215 $5,843,579,161
1991 $11,009,993,703 $4,690,415,093
1990 $18,427,777,778 $2,838,485,354
1989 $24,313,855,653 $2,717,998,688
1988 $20,690,322,153 $3,313,540,068
1987 $22,368,704,134 -
1986 $17,903,989,745 -
1985 $21,445,970,614 -
1984 $21,700,082,753 -
1983 $20,871,081,080 -
1982 $21,577,153,356 -
1981 $25,058,020,338 -
1980 $28,638,868,356 -
1979 $24,749,063,922 -
1978 $15,503,557,496 -
1977 $14,137,406,741 -
1976 $13,132,252,802 -
1975 $12,022,811,621 -
1974 $13,006,948,296 -
1973 $5,408,804,607 -
1972 $4,450,537,925 -
1971 $3,880,392,195 -
1970 $2,873,638,851 -
1969 $2,769,198,892 -
1968 $2,662,798,935 -
1967 $2,441,599,023 -
1966 $2,391,199,044 -
1965 $2,097,199,161 -
1964 $2,071,668,533 -
1963 $1,900,895,857 -
1962 $1,828,107,503 -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

GDP per capita in Kuwait vs Lebanon by year

Kuwait
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Kuwait Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $32,718 $52,444 - -
2023 $34,076 $53,025 $3,478 $12,575
2022 $39,982 $55,043 $3,654 $12,293
2021 $34,019 $50,652 $4,045 $11,600
2020 $25,236 $41,462 $5,561 $16,260
2019 $31,708 $50,703 $8,906 $21,710
2018 $32,068 $51,371 $9,175 $21,985
2017 $29,048 $46,566 $8,608 $20,964
2016 $27,324 $41,862 $8,089 $18,941
2015 $29,882 $45,267 $7,714 $17,046
2014 $44,369 $68,337 $7,578 $16,140
2013 $49,651 $76,813 $8,162 $16,316
2012 $52,155 $82,090 $8,407 $16,121
2011 $49,170 $79,037 $7,835 $14,975
2010 $39,212 $75,184 $7,626 $14,704
2009 $37,907 $80,110 $7,091 $13,586
2008 $55,585 $90,337 $5,912 $12,416
2007 $45,709 $91,435 $5,125 $11,356
2006 $42,947 $89,075 $4,635 $10,312
2005 $36,123 $84,968 $4,602 $10,020
2004 $27,552 $77,227 $4,601 $9,609
2003 $22,691 $69,752 $4,438 $8,914
2002 $18,513 $59,713 $4,291 $8,586
2001 $17,374 $58,553 $4,010 $8,289
2000 $19,296 $58,703 $3,987 $7,938
1999 $15,854 $56,406 $4,087 $7,793
1998 $14,067 $58,344 $4,125 $7,861
1997 $16,977 $57,420 $3,834 $7,632
1996 $18,201 $56,913 $3,393 $7,560
1995 $16,168 $57,163 $2,959 $6,796
1994 $14,930 $53,946 $2,468 $6,367
1993 $14,318 $48,482 $2,079 $5,871
1992 $12,146 $36,149 $1,559 $5,279
1991 $8,147 $23,390 $1,278 $4,527
1990 $10,938 $30,763 $790 $2,990
1989 $10,965 - $771 -
1988 $9,692 - $959 -
1987 $10,896 - - -
1986 $9,077 - - -
1985 $11,322 - - -
1984 $11,919 - - -
1983 $11,965 - - -
1982 $12,979 - - -
1981 $15,825 - - -
1980 $19,032 - - -
1979 $17,386 - - -
1978 $11,567 - - -
1977 $11,238 - - -
1976 $11,141 - - -
1975 $10,882 - - -
1974 $12,527 - - -
1973 $5,532 - - -
1972 $4,836 - - -
1971 $4,486 - - -
1970 $3,552 - - -
1969 $3,695 - - -
1968 $3,872 - - -
1967 $3,887 - - -
1966 $4,176 - - -
1965 $4,024 - - -
1964 $4,379 - - -
1963 $4,445 - - -
1962 $4,748 - - -

Data sources: World Bank | Economy & Growth (1962–2024, retrieved 2026-04-06).

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

Kuwait's GDP per capita is $32,718, ranking 37/197, compared to $3,478 in Lebanon, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Kuwait ranks 40th at $52,444, while Lebanon ranks 123rd at $12,575.

Economic indicators

Kuwait Lebanon
Gross domestic product
$160B
2024
$20.1B
2023
GDP rank
59/197
2024
128/197
2023
GDP growth
-2.56%
2023-2024
-0.76%
2022-2023
GDP per capita
$32,718
2024
$3,478
2023
GDP per capita rank
37/197
2024
135/197
2023
GDP per capita, PPP
$52,444
2024
$12,575
2023
GDP per capita PPP rank
40/197
2024
123/197
2023
Government debt
$4.68B
2024
$38.7B
2023
Debt-to-GDP ratio
2.92%
2024
163.8%
2024
Government debt per person
$956
2024
$6,704
2023
Government debt per person rank
143/185
2024
70/185
2023
Average annual personal income after taxes
$23,828
2026
$3,560
2026
Market capitalization of domestic companies
$141B
2024
$10.6B
2021
Number of billionaires n/a
6
2025
Income share by richest 10% n/a
25.1%
2022
Income share by poorest 10% n/a
2.8%
2022
Government expenditure, % of GDP
50.4%
2024
16.5%
2024
Consumer prices inflation
2.9%
2023-2024
45.2%
2023-2024
Central bank interest rate
3.5%
2025
20%
2023
Unemployment rate
2.16%
2016
11.3%
2019
Population
5100145
5906622

Spending and national debt comparison by year

Kuwait
Spending

Debt
Lebanon
Spending

Debt
1x
Year % of GDP
Kuwait Lebanon
Government spending Government debt Government spending Government debt
2024 50.4% 2.92% 16.5% 163.8%
2023 48.3% 3.13% 14.9% 192.8%
2022 39.6% 2.95% 13.4% 244.6%
2021 48.3% 7.2% 10.9% 358%
2020 62.9% 10.2% 23.2% 148.7%
2019 50.3% 10.5% 31.3% 172.1%
2018 51.1% 14.3% 32.3% 155.1%
2017 51.9% 19.6% 30.6% 150%
2016 54.1% 9.88% 28.3% 146.4%
2015 55.4% 4.6% 26.7% 140.8%
2014 45% 3.43% 28.8% 138.4%
2013 38.4% 3.09% 28.9% 135.4%
2012 38.2% 3.6% 30.2% 131.1%
2011 39.7% 4.64% 28.8% 134.4%
2010 45.5% 6.16% 29.2% 136.8%
2009 42.9% 6.65% 32.1% 144.5%
2008 40.9% 5.38% 34.3% 161.5%
2007 30.4% 7.05% 35.2% 169.3%
2006 32.3% 7.79% 36.1% 183.3%
2005 28.8% 10.2% 31.4% 178.9%
2004 35.3% 13.9% 33.3% 169.5%
2003 38.2% 17.2% 36.4% 171.3%
2002 42.8% 21.3% 36.8% 163.1%
2001 41.4% 23% 38.9% 163.1%
2000 29.9% 21.4% 42.8% 148.1%
1999 44.5% 25.5% 35.6% 130.2%
1998 51.7% 25.6% 34.7% 108.2%
1997 43.8% 24.3% 40.5% 100.2%
1996 42.8% 26.5% 43.6% 101.2%
1995 52% 34.9% 31.1% 79.6%
1994 57.8% 37.7% 47.3% 71.5%
1993 58.2% 28.8% 23% 50.5%
1992 77.6% 27.9% 36.1% 51.7%
1991 208.9% 45.3% 35.6% 67.1%
1990 122.9% - 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/kuwait/lebanon | CC BY

In 2024, Kuwait's government spending was $80.8B, accounting for 50.4% of its GDP, while Lebanon spent $2.99B, or 16.5% of GDP.

Debt-to-GDP ratio is 2.92% in Kuwait and 163.8% in Lebanon, ranking 184/185 and 6/185, respectively.

Government deficit by year

Deficit/surplus
Kuwait

Lebanon
1x
Year Deficit/surplus, % of GDP
Kuwait Lebanon
2024 23.8% -0.19%
2023 28.2% -1.7%
2022 30% -7.77%
2021 9.98% -2.67%
2020 0.14% -7.37%
2019 13% -10.5%
2018 17.5% -11.3%
2017 15.3% -8.65%
2016 13.1% -8.88%
2015 16.6% -7.48%
2014 30% -6.22%
2013 40.6% -8.82%
2012 40.7% -8.43%
2011 38.8% -5.94%
2010 31.9% -7.47%
2009 31.3% -8.1%
2008 21.3% -9.86%
2007 37.1% -10.9%
2006 28% -10.6%
2005 38.9% -8.57%
2004 32.5% -9.83%
2003 27.2% -14%
2002 31% -16.2%
2001 45.2% -21%
2000 52.5% -23.9%
1999 28.2% -16.7%
1998 19.5% -17.3%
1997 29.5% -24.5%
1996 24.3% -25.7%
1995 11.7% -13.6%
1994 1.76% -29.1%
1993 -3.12% -7.19%
1992 -28.1% -24%
1991 -145% -19.5%
1990 -50% -30.2%

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

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

In 2023, Kuwait's government surplus, the difference between spending and revenue, was $46.7B, equivalent to 28.2% of GDP. This compares to Lebanon's deficit of $342M, or 1.7% of GDP.

Over the past 34 years, Kuwait recorded a fiscal deficit in 4 of those years, while Lebanon ran a deficit in 34 years. On average, Kuwait posted an annual surplus equal to 16.5% of GDP, compared to deficit of 13.1% of GDP for Lebanon.

Inflation comparison by year

Inflation
Kuwait

Lebanon
1x
Year Consumer prices inflation
Kuwait Lebanon
2024 2.9% 45.2%
2023 3.64% 221.3%
2022 3.98% 171.2%
2021 3.42% 154.8%
2020 2.1% 84.9%
2019 1.09% 2.9%
2018 0.54% 6.1%
2017 2.17% 4.5%
2016 3.2% -0.8%
2015 3.27% -3.8%
2014 2.91% 1.1%
2013 2.68% 5.6%
2012 3.26% 6.6%
2011 4.84% 5%
2010 4.5% 4%
2009 4.61% 1.2%
2008 10.6% 10.7%
2007 5.48% 4.1%
2006 3.06% 4.1%
2005 4.14% -1.4%
2004 1.25% 1.7%
2003 0.96% 1.3%
2002 0.89% 1.8%
2001 1.3% -0.4%
2000 1.81% -0.4%
1999 2.99% 0.2%
1998 0.13% 4.5%
1997 0.68% 7.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Kuwait has recorded an average annual inflation rate of 2.94%, compared with 26.6% in Lebanon. In 2024, inflation was 2.9% in Kuwait and 45.2% in Lebanon.

Top exports between countries

Kuwait
Export category Export value
Precious metals & jewellery $6.83M
Chemicals & pharma $2.54M
Textiles & consumer goods $2.4M
Machinery & equipment $1.83M
Wood & paper products $410K
Animal & marine products $369K
Processed food, beverages & tobacco $280K
Raw materials & minerals $202K
Miscellaneous $187K
Raw agricultural goods $129K
Lebanon
Export category Export value
Processed food, beverages & tobacco $18M
Chemicals & pharma $17.8M
Raw agricultural goods $12.3M
Machinery & equipment $5.36M
Textiles & consumer goods $4.18M
Animal & marine products $3.88M
Miscellaneous $2.46M
Metals $2.35M
Wood & paper products $2.34M
Precious metals & jewellery $1.36M

Balance of trade

Kuwait Lebanon
Current account balance
$46.7B
2024
-$5.64B
2023
Current account balance ranking
15/190
2024
168/190
2023
Current account balance, % of GDP
+29.1%
2024
-28.1%
2023
Goods imports
$33.4B
2024
$16.7B
2023
Goods exports
$77.5B
2024
$3.85B
2023
Service imports
$28.1B
2024
$6.63B
2023
Service exports
$12.2B
2024
$7.92B
2023
Imports of goods and services, % of GDP
38.3%
2023
73.7%
2023
Exports of goods and services, % of GDP
57.7%
2023
30.6%
2023

Economic freedom indices

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

Kuwait Lebanon
Economic freedom 59.9 43.1
Economic freedom ranking 100/197 183/197
Property rights 42 21.8
Government integrity 47.9 23.4
Judicial effectiveness 43.4 23.8
Tax burden 97.7 90.3
Government spending 36.2 93.3
Fiscal health 99.9 63.4
Business freedom 57.4 47.6
Labor freedom 49.2 48.4
Monetary freedom 68.7 0
Trade freedom 75.8 65.6
Investment freedom 50 20
Financial freedom 50 20

Economic freedom comparison by year

Kuwait
Lebanon
1x
Year Economic freedom index
Kuwait Lebanon
2026 59.9 43.1
2025 59.9 44.1
2024 58.5 48.3
2023 56.7 45.6
2022 58.3 47.3
2021 64.1 51.4
2020 63.2 51.7
2019 60.8 51.1
2018 62.2 53.2
2017 65.1 53.3
2016 62.7 59.5
2015 62.5 59.3
2014 62.3 59.4
2013 63.1 59.5
2012 62.5 60.1
2011 64.9 60.1
2010 67.7 59.5
2009 65.6 58.1
2008 68.1 60
2007 66.4 60.4
2006 66.5 57.5
2005 64.6 57.2
2004 63.6 56.9
2003 66.7 56.7
2002 65.4 57.1
2001 68.2 61
2000 69.7 56.1
1999 69.5 59.1
1998 66.3 59
1997 64.8 63.9
1996 66.1 63.2

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

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

The Economic Freedom Index for Kuwait is 59.9, ranking 100/197, 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

Kuwait Lebanon
Services, % of GDP
55.9%
2024
42.4%
2023
Industry, % of GDP
57.1%
2024
2.09%
2023
Agriculture, forestry, and fishing, % of GDP
0.49%
2024
0.97%
2023
GNI, Atlas method
$200B
2024
$21.4B
2023
GNI per capita, PPP
$63,270
2024
$12,420
2023
Total reserves including gold
$50.7B
2024
$33.3B
2024
Total reserves ranking
41/177
2024
54/177
2024
Net foreign direct investment
$9.71B
2024
-$583M
2023
Net inflows of foreign direct investment
$615M
2024
$1.84B
2024
Net outflows of foreign direct investment
$10.3B
2024
$391M
2024
Servicing debt to the IMF, % of GNI n/a
22%
2023
Poverty at national poverty lines n/a
27.4%
2012
Gross capital formation, % of GDP
17.7%
2023
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/kuwait/lebanon | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1962–2024, 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. TradeMap (2023–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1999, retrieved 2026-02-20)
  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.