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Economy of Lebanon vs Luxembourg compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $93.3B for Luxembourg, ranking 128/197 and 74/197 by economy size, respectively.

Lebanon has $38.7B in government debt (163.8% of GDP), compared to $24.5B (26.3% of GDP) in Luxembourg.

Lebanon vs Luxembourg GDP by year

Lebanon
Luxembourg
1x
Year GDP, current $
Lebanon Luxembourg
2024 - $93,279,851,863
2023 $20,078,620,357 $88,788,881,539
2022 $20,992,421,949 $80,801,680,397
2021 $23,131,941,557 $86,386,759,695
2020 $31,712,128,254 $73,670,782,100
2019 $51,605,959,131 $69,872,035,114
2018 $54,901,519,156 $71,085,623,495
2017 $53,027,680,686 $65,712,180,343
2016 $51,147,308,774 $62,216,885,436
2015 $49,929,337,837 $60,071,584,216
2014 $48,095,213,747 $68,804,811,898
2013 $46,880,103,081 $65,203,276,467
2012 $44,016,799,516 $59,776,383,527
2011 $39,927,125,962 $61,696,281,326
2010 $38,443,907,042 $56,213,985,987
2009 $35,399,582,929 $54,467,289,898
2008 $29,118,916,105 $58,844,277,702
2007 $24,827,355,015 $51,587,401,416
2006 $22,022,709,851 $42,910,146,296
2005 $21,497,336,499 $37,672,280,120
2004 $21,159,827,992 $35,064,843,793
2003 $20,082,918,740 $29,667,268,248
2002 $19,152,238,806 $23,649,833,332
2001 $17,649,751,244 $21,387,533,703
2000 $17,260,364,842 $21,230,182,989
1999 $17,391,056,369 $21,899,317,599
1998 $17,247,179,006 $20,150,053,345
1997 $15,751,867,489 $19,563,836,265
1996 $13,690,217,334 $20,895,314,658
1995 $11,718,795,529 $20,853,093,870
1994 $9,599,127,050 $17,701,798,891
1993 $7,941,744,492 $15,925,521,222
1992 $5,843,579,161 $15,518,702,635
1991 $4,690,415,093 $13,834,219,728
1990 $2,838,485,354 $12,778,792,854
1989 $2,717,998,688 $10,037,674,038
1988 $3,313,540,068 $9,418,167,855
1987 - $8,320,902,215
1986 - $6,685,595,088
1985 - $4,577,211,767
1984 - $4,438,435,493
1983 - $4,524,217,751
1982 - $4,602,316,793
1981 - $5,053,665,797
1980 - $6,019,805,490
1979 - $5,516,982,664
1978 - $4,718,539,772
1977 - $3,789,321,328
1976 - $3,423,586,207
1975 - $3,123,333,333
1974 - $3,183,637,117
1973 - $2,609,875,802
1972 - $1,901,697,370
1971 - $1,518,773,421
1970 - $1,457,768,455
1969 - $1,245,432,991
1968 - $1,075,561,623
1967 - $983,052,315
1966 - $976,717,015
1965 - $929,477,285
1964 - $910,877,686
1963 - $797,902,154
1962 - $747,846,862
1961 - $710,163,719
1960 - $709,941,874

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Lebanon vs Luxembourg by year

Lebanon
GDP per capita

GDP per capita, PPP
Luxembourg
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lebanon Luxembourg
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $137,782 $155,941
2023 $3,478 $12,575 $133,231 $150,508
2022 $3,654 $12,293 $123,720 $146,919
2021 $4,045 $11,600 $134,966 $136,772
2020 $5,561 $16,260 $116,860 $122,067
2019 $8,906 $21,710 $112,697 $121,372
2018 $9,175 $21,985 $116,927 $116,638
2017 $8,608 $20,964 $110,193 $114,986
2016 $8,089 $18,941 $106,899 $113,365
2015 $7,714 $17,046 $105,462 $107,860
2014 $7,578 $16,140 $123,679 $105,296
2013 $8,162 $16,316 $120,000 $100,925
2012 $8,407 $16,121 $112,585 $96,636
2011 $7,835 $14,975 $119,025 $94,475
2010 $7,626 $14,704 $110,886 $90,336
2009 $7,091 $13,586 $109,420 $86,919
2008 $5,912 $12,416 $120,422 $90,971
2007 $5,125 $11,356 $107,475 $85,126
2006 $4,635 $10,312 $90,789 $78,861
2005 $4,602 $10,020 $80,988 $68,788
2004 $4,601 $9,609 $76,545 $64,686
2003 $4,438 $8,914 $65,689 $60,192
2002 $4,291 $8,586 $53,006 $58,576
2001 $4,010 $8,289 $48,440 $56,136
2000 $3,987 $7,938 $48,660 $55,136
1999 $4,087 $7,793 $50,872 $49,845
1998 $4,125 $7,861 $47,445 $44,270
1997 $3,834 $7,632 $46,642 $42,488
1996 $3,393 $7,560 $50,444 $39,722
1995 $2,959 $6,796 $51,032 $38,345
1994 $2,468 $6,367 $43,933 $37,551
1993 $2,079 $5,871 $40,067 $35,899
1992 $1,559 $5,279 $39,571 $34,108
1991 $1,278 $4,527 $35,747 $33,191
1990 $790 $2,990 $33,465 $29,949
1989 $771 - $26,618 -
1988 $959 - $25,219 -
1987 - - $22,443 -
1986 - - $18,150 -
1985 - - $12,482 -
1984 - - $12,127 -
1983 - - $12,374 -
1982 - - $12,591 -
1981 - - $13,837 -
1980 - - $16,531 -
1979 - - $15,204 -
1978 - - $13,034 -
1977 - - $10,486 -
1976 - - $9,491 -
1975 - - $8,701 -
1974 - - $8,967 -
1973 - - $7,447 -
1972 - - $5,487 -
1971 - - $4,435 -
1970 - - $4,298 -
1969 - - $3,690 -
1968 - - $3,203 -
1967 - - $2,935 -
1966 - - $2,925 -
1965 - - $2,804 -
1964 - - $2,779 -
1963 - - $2,462 -
1962 - - $2,332 -
1961 - - $2,241 -
1960 - - $2,261 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $137,782 in Luxembourg, ranking 3/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 123rd at $12,575, while Luxembourg ranks 1st at $155,941.

Economic indicators

Lebanon Luxembourg
Gross domestic product
$20.1B
2023
$93.3B
2024
GDP rank
128/197
2023
74/197
2024
GDP growth
-0.76%
2022-2023
0.36%
2023-2024
GDP per capita
$3,478
2023
$137,782
2024
GDP per capita rank
135/197
2023
3/197
2024
GDP per capita, PPP
$12,575
2023
$155,941
2024
GDP per capita PPP rank
123/197
2023
1/197
2024
Government debt
$38.7B
2023
$24.5B
2024
Debt-to-GDP ratio
163.8%
2024
26.3%
2024
Government debt per person
$6,704
2023
$36,221
2024
Government debt per person rank
70/185
2023
19/185
2024
Average annual personal income after taxes
$3,560
2026
$69,593
2026
Market capitalization of domestic companies
$10.6B
2021
$41.9B
2024
Number of billionaires
6
2025
1
2025
Income share by richest 10%
25.1%
2022
25%
2023
Income share by poorest 10%
2.8%
2022
2.8%
2023
Government expenditure, % of GDP
16.5%
2024
46.9%
2024
Consumer prices inflation
45.2%
2023-2024
2.05%
2023-2024
Central bank interest rate
20%
2023
n/a
Unemployment rate
11.3%
2019
6.42%
2024
Population
5906622
693885

Spending and national debt comparison by year

Lebanon
Spending

Debt
Luxembourg
Spending

Debt
1x
Year % of GDP
Lebanon Luxembourg
Government spending Government debt Government spending Government debt
2024 16.5% 163.8% 46.9% 26.3%
2023 14.9% 192.8% 46.4% 24.7%
2022 13.4% 244.6% 44.3% 24.9%
2021 10.9% 358% 42.4% 24.2%
2020 23.2% 148.7% 47% 24.5%
2019 31.3% 172.1% 43.1% 22.3%
2018 32.3% 155.1% 42.3% 20.9%
2017 30.6% 150% 41.3% 21.8%
2016 28.3% 146.4% 40% 19.6%
2015 26.7% 140.8% 40.4% 21.1%
2014 28.8% 138.4% 40.6% 21.9%
2013 28.9% 135.4% 41.2% 22.4%
2012 30.2% 131.1% 41.8% 20.8%
2011 28.8% 134.4% 41.5% 18.5%
2010 29.2% 136.8% 42% 19.1%
2009 32.1% 144.5% 42.7% 15.3%
2008 34.3% 161.5% 37.9% 14.6%
2007 35.2% 169.3% 37.4% 8.09%
2006 36.1% 183.3% 39.4% 8.21%
2005 31.4% 178.9% 43.4% 7.95%
2004 33.3% 169.5% 43.7% 7.83%
2003 36.4% 171.3% 43.3% 7.43%
2002 36.8% 163.1% 41.8% 7.45%
2001 38.9% 163.1% 38.1% 7.62%
2000 42.8% 148.1% 38% 7.49%
1999 35.6% 130.2% 41.7% 8.39%
1998 34.7% 108.2% 43.9% 9.51%
1997 40.5% 100.2% 44.2% 10.1%
1996 43.6% 101.2% 42.5% 10.2%
1995 31.1% 79.6% 42% 10.3%
1994 47.3% 71.5% - -
1993 23% 50.5% - -
1992 36.1% 51.7% - -
1991 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/lebanon/luxembourg | CC BY

In 2024, Lebanon's government spending was $2.99B, accounting for 16.5% of its GDP, while Luxembourg spent $43.7B, or 46.9% of GDP.

Debt-to-GDP ratio is 163.8% in Lebanon and 26.3% in Luxembourg, ranking 6/185 and 162/185, respectively.

Government deficit by year

Deficit/surplus
Lebanon

Luxembourg
1x
Year Deficit/surplus, % of GDP
Lebanon Luxembourg
2024 -0.19% 1.03%
2023 -1.7% -0.78%
2022 -7.77% 0.18%
2021 -2.67% 1%
2020 -7.37% -3.09%
2019 -10.5% 2.68%
2018 -11.3% 3.17%
2017 -8.65% 1.37%
2016 -8.88% 1.89%
2015 -7.48% 1.3%
2014 -6.22% 1.33%
2013 -8.82% 0.84%
2012 -8.43% 0.5%
2011 -5.94% 0.65%
2010 -7.47% -0.26%
2009 -8.1% -0.21%
2008 -9.86% 3.37%
2007 -10.9% 4.35%
2006 -10.6% 1.9%
2005 -8.57% -0.21%
2004 -9.83% -1.39%
2003 -14% 0.28%
2002 -16.2% 2.03%
2001 -21% 5.62%
2000 -23.9% 5.55%
1999 -16.7% 3.24%
1998 -17.3% 2.98%
1997 -24.5% 2.65%
1996 -25.7% 2.37%
1995 -13.6% 2.71%
1994 -29.1% -
1993 -7.19% -
1992 -24% -
1991 -19.5% -
1990 -30.2% -

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

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

In 2023, Lebanon's government deficit, the difference between spending and revenue, was $342M, equivalent to 1.7% of GDP. This compares to Luxembourg's deficit of $692M, or 0.78% of GDP.

Over the past 29 years, Lebanon recorded a fiscal deficit in 29 of those years, while Luxembourg ran a deficit in 6 years. On average, Lebanon posted an annual deficit equal to 11.5% of GDP, compared to surplus of 1.59% of GDP for Luxembourg.

Inflation comparison by year

Inflation
Lebanon

Luxembourg
1x
Year Consumer prices inflation
Lebanon Luxembourg
2024 45.2% 2.05%
2023 221.3% 3.74%
2022 171.2% 6.34%
2021 154.8% 2.53%
2020 84.9% 0.82%
2019 2.9% 1.74%
2018 6.1% 1.53%
2017 4.5% 1.73%
2016 -0.8% 0.29%
2015 -3.8% 0.47%
2014 1.1% 0.63%
2013 5.6% 1.73%
2012 6.6% 2.66%
2011 5% 3.41%
2010 4% 2.27%
2009 1.2% 0.37%
2008 10.7% 3.4%
2007 4.1% 2.31%
2006 4.1% 2.67%
2005 -1.4% 2.49%
2004 1.7% 2.23%
2003 1.3% 2.05%
2002 1.8% 2.07%
2001 -0.4% 2.66%
2000 -0.4% 3.15%
1999 0.2% 1.03%
1998 4.5% 0.96%
1997 7.7% 1.37%

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/lebanon/luxembourg | CC BY

Over the past 28 years, Lebanon has recorded an average annual inflation rate of 26.6%, compared with 2.1% in Luxembourg. In 2024, inflation was 45.2% in Lebanon and 2.05% in Luxembourg.

Top exports between countries

Lebanon
Export category Export value
Precious metals & jewellery $912K
Machinery & equipment $272K
Processed food, beverages & tobacco $47K
Textiles & consumer goods $28K
Raw agricultural goods $20K
Miscellaneous $16K
Chemicals & pharma $13K
Raw materials & minerals $5K
Wood & paper products $1K
Luxembourg
Export category Export value
Miscellaneous $1.6M
Textiles & consumer goods $865K
Machinery & equipment $543K
Chemicals & pharma $196K
Metals $94K
Raw materials & minerals $20K
Wood & paper products $9K
Processed food, beverages & tobacco $8K
Precious metals & jewellery $4K
Animal & marine products $1K

Balance of trade

Lebanon Luxembourg
Current account balance
-$5.64B
2023
$4.1B
2024
Current account balance ranking
168/190
2023
35/190
2024
Current account balance, % of GDP
-28.1%
2023
+4.4%
2024
Goods imports
$16.7B
2023
$29.4B
2024
Goods exports
$3.85B
2023
$31.3B
2024
Service imports
$6.63B
2023
$117B
2024
Service exports
$7.92B
2023
$150B
2024
Imports of goods and services, % of GDP
73.7%
2023
159.7%
2024
Exports of goods and services, % of GDP
30.6%
2023
191.5%
2024

Economic freedom indices

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

Lebanon Luxembourg
Economic freedom 43.1 79.7
Economic freedom ranking 183/197 7/197
Property rights 21.8 96.6
Government integrity 23.4 88.7
Judicial effectiveness 23.8 99.1
Tax burden 90.3 62.3
Government spending 93.3 36.9
Fiscal health 63.4 98.6
Business freedom 47.6 89.5
Labor freedom 48.4 56.7
Monetary freedom 0 74.1
Trade freedom 65.6 79.4
Investment freedom 20 95
Financial freedom 20 80

Economic freedom comparison by year

Lebanon
Luxembourg
1x
Year Economic freedom index
Lebanon Luxembourg
2026 43.1 79.7
2025 44.1 79.5
2024 48.3 79.2
2023 45.6 78.4
2022 47.3 80.6
2021 51.4 76
2020 51.7 75.8
2019 51.1 75.9
2018 53.2 76.4
2017 53.3 75.9
2016 59.5 73.9
2015 59.3 73.2
2014 59.4 74.2
2013 59.5 74.2
2012 60.1 74.5
2011 60.1 76.2
2010 59.5 75.4
2009 58.1 75.2
2008 60 74.7
2007 60.4 74.6
2006 57.5 75.3
2005 57.2 76.3
2004 56.9 78.9
2003 56.7 79.9
2002 57.1 79.4
2001 61 80.1
2000 56.1 76.4
1999 59.1 72.4
1998 59 72.7
1997 63.9 72.8
1996 63.2 72.5

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

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

The Economic Freedom Index for Lebanon is 43.1, ranking 183/197, compared to 79.7 for Luxembourg, ranking 7/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lebanon Luxembourg
Services, % of GDP
42.4%
2023
81.2%
2024
Industry, % of GDP
2.09%
2023
9.66%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
0.21%
2024
GNI, Atlas method
$21.4B
2023
$57.3B
2024
GNI per capita, PPP
$12,420
2023
$110,650
2024
Total reserves including gold
$33.3B
2024
$2.79B
2024
Total reserves ranking
54/177
2024
119/177
2024
Net foreign direct investment
-$583M
2023
$21.4B
2024
Net inflows of foreign direct investment
$1.84B
2024
$106B
2024
Net outflows of foreign direct investment
$391M
2024
$109B
2024
Servicing debt to the IMF, % of GNI
22%
2023
n/a
Poverty at national poverty lines
27.4%
2012
17.3%
2021
Gross capital formation, % of GDP
1.9%
2023
15.8%
2024

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/lebanon/luxembourg | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, 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 (2020–2024, 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.