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Economy of Lebanon vs Malta compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $24.3B for Malta, ranking 128/197 and 120/197 by economy size, respectively.

Lebanon has $38.6B in government debt (149.1% of GDP), compared to $11.8B (49.3% of GDP) in Malta.

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

Lebanon
GDP, current $

GDP, constant 2015 $
Malta
GDP, current $

GDP, constant 2015 $
Year GDP
Lebanon Malta
Current $ Constant $ Current $ Constant $
1970 - - $250,728,796 $948,271,467
1971 - - $264,578,485 $971,541,988
1972 - - $295,106,628 $1,028,263,786
1973 - - $345,616,106 $1,070,897,026
1974 - - $376,081,124 $1,178,376,577
1975 - - $474,618,321 $1,408,867,989
1976 - - $527,936,989 $1,648,616,316
1977 - - $625,563,171 $1,849,486,528
1978 - - $793,673,402 $2,055,910,645
1979 - - $1,001,288,847 $2,271,591,567
1980 - - $1,250,198,601 $2,431,732,213
1981 - - $1,243,509,394 $2,512,265,398
1982 - - $1,234,474,404 $2,569,656,902
1983 - - $1,165,729,707 $2,553,920,578
1984 - - $1,101,807,023 $2,577,987,983
1985 - - $1,117,797,439 $2,644,636,182
1986 - - $1,435,038,441 $2,747,385,323
1987 - - $1,751,293,461 $2,860,316,993
1988 $3,313,540,068 $13,590,690,652 $2,019,503,068 $3,100,990,824
1989 $2,717,998,688 $7,821,290,497 $2,118,655,677 $3,354,624,138
1990 $2,838,485,354 $9,896,526,026 $2,547,328,748 $3,565,676,657
1991 $4,690,415,093 $14,790,098,776 $2,750,216,747 $3,788,762,970
1992 $5,843,579,161 $17,221,346,343 $3,021,942,759 $3,966,491,271
1993 $7,941,744,492 $19,075,339,625 $2,709,193,538 $4,144,219,794
1994 $9,599,127,050 $20,621,442,059 $2,998,505,428 $4,378,413,969
1995 $11,718,795,529 $21,951,290,517 $3,709,360,097 $4,656,114,550
1996 $13,690,217,334 $24,428,699,054 $3,822,489,746 $4,831,991,626
1997 $15,751,867,489 $24,686,413,686 $3,787,070,704 $5,086,008,503
1998 $17,247,179,006 $25,591,349,425 $4,010,092,091 $5,346,697,004
1999 $17,391,056,369 $25,456,845,224 $4,111,891,845 $5,599,059,817
2000 $17,260,364,842 $25,798,443,406 $4,036,809,865 $6,701,025,856
2001 $17,649,751,244 $26,789,018,311 $4,070,867,153 $6,650,321,027
2002 $19,152,238,806 $27,706,046,545 $4,455,127,398 $6,832,614,316
2003 $20,082,918,740 $28,600,147,894 $5,418,315,225 $7,085,028,943
2004 $21,159,827,992 $30,510,478,932 $6,104,141,501 $7,113,876,329
2005 $21,497,336,499 $31,329,923,063 $6,393,234,965 $7,318,803,721
2006 $22,022,709,851 $31,815,384,921 $6,749,838,862 $7,489,779,959
2007 $24,827,355,015 $34,777,595,316 $7,908,412,374 $7,867,015,006
2008 $29,118,916,105 $37,931,620,044 $9,135,419,490 $8,213,960,298
2009 $35,399,582,929 $41,812,842,420 $8,734,745,632 $8,099,347,414
2010 $38,443,907,042 $45,147,473,284 $9,097,044,182 $8,601,291,930
2011 $39,927,125,962 $45,539,055,324 $9,789,361,705 $8,686,613,622
2012 $44,016,799,516 $46,707,037,069 $9,609,532,106 $9,042,989,790
2013 $46,880,103,081 $48,494,923,363 $10,796,782,634 $9,611,949,002
2014 $48,095,213,747 $49,699,566,407 $11,888,032,862 $10,345,449,266
2015 $49,929,337,837 $49,929,337,837 $11,340,795,033 $11,340,795,033
2016 $51,147,308,774 $50,705,514,063 $12,025,782,885 $11,803,240,820
2017 $53,027,680,686 $51,163,399,288 $14,161,366,733 $13,334,371,306
2018 $54,901,519,156 $50,199,119,756 $16,153,779,511 $14,292,992,132
2019 $51,605,959,131 $46,727,888,411 $16,337,793,531 $14,876,818,843
2020 $31,712,128,254 $36,728,167,163 $16,409,900,599 $14,377,204,308
2021 $23,131,941,557 $34,156,740,537 $19,723,563,355 $16,289,342,191
2022 $20,992,421,949 $33,944,395,264 $19,239,187,084 $16,984,786,096
2023 $20,078,620,357 $33,686,219,465 $22,210,718,401 $18,139,125,340
2024 - - $24,322,006,608 $19,221,900,877

Economic indicators

Lebanon Malta
Gross domestic product
$20.1B
2023
$24.3B
2024
GDP rank
128/197
2023
120/197
2024
GDP growth
-4.35%
2022-2023
9.51%
2023-2024
GDP per capita
$3,478
2023
$42,347
2024
GDP per capita rank
135/197
2023
28/197
2024
GDP per capita, PPP
$12,575
2023
$67,364
2024
Government debt
$38.6B
2023
$11.8B
2024
Debt-to-GDP ratio
149.1%
2025
49.3%
2025
Government debt per person
$6,680
2023
$20,574
2024
Government debt per person rank
70/185
2023
30/185
2024
Average annual personal income after taxes
$3,779
2025
$21,451
2025
Market capitalization of domestic companies
$10.6B
2021
$4.29B
2024
Number of billionaires
6
2025
n/a
Income share by richest 10%
25.1%
2022
27.7%
2022
Income share by poorest 10%
2.8%
2022
2.7%
2022
Government expenditure, % of GDP
18.3%
2025
36.3%
2025
Consumer prices inflation
45.2%
2023-2024
1.65%
2023-2024
Central bank interest rate
20%
2023
n/a
Unemployment rate
11.3%
2019
3.12%
2024
Population
5888008
583596

GDP per capita in Lebanon vs Malta

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $42,347 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 121st at $12,575, while Malta ranks 25th at $67,364.

Lebanon
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
Year Current $
Lebanon Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1970 - - $828 -
1971 - - $874 -
1972 - - $976 -
1973 - - $1,144 -
1974 - - $1,245 -
1975 - - $1,560 -
1976 - - $1,727 -
1977 - - $2,038 -
1978 - - $2,559 -
1979 - - $3,196 -
1980 - - $3,948 -
1981 - - $3,898 -
1982 - - $3,788 -
1983 - - $3,527 -
1984 - - $3,333 -
1985 - - $3,322 -
1986 - - $4,195 -
1987 - - $5,084 -
1988 $959 - $5,814 -
1989 $771 - $6,041 -
1990 $790 $2,990 $7,192 $10,079
1991 $1,278 $4,527 $7,559 $10,777
1992 $1,559 $5,279 $8,220 $11,421
1993 $2,079 $5,871 $7,296 $12,095
1994 $2,468 $6,367 $8,000 $12,929
1995 $2,959 $6,796 $9,828 $13,940
1996 $3,393 $7,560 $10,062 $14,655
1997 $3,834 $7,632 $9,893 $15,462
1998 $4,125 $7,861 $10,408 $16,218
1999 $4,087 $7,793 $10,609 $16,899
2000 $3,987 $7,938 $10,348 $18,211
2001 $4,010 $8,289 $10,358 $18,437
2002 $4,291 $8,586 $11,251 $19,532
2003 $4,438 $8,914 $13,594 $20,815
2004 $4,601 $9,609 $15,212 $21,569
2005 $4,602 $10,020 $15,831 $22,227
2006 $4,635 $10,312 $16,654 $23,224
2007 $5,125 $11,356 $19,444 $25,013
2008 $5,912 $12,416 $22,315 $26,654
2009 $7,091 $13,586 $21,176 $26,768
2010 $7,626 $14,704 $21,947 $28,912
2011 $7,835 $14,975 $23,517 $29,426
2012 $8,407 $16,121 $22,878 $30,716
2013 $8,162 $16,316 $25,416 $33,138
2014 $7,578 $16,140 $27,425 $35,206
2015 $7,714 $17,046 $25,530 $38,379
2016 $8,089 $18,941 $26,459 $40,999
2017 $8,608 $20,964 $30,317 $45,763
2018 $9,175 $21,985 $33,382 $48,177
2019 $8,906 $21,710 $32,422 $51,392
2020 $5,561 $16,260 $31,834 $49,988
2021 $4,045 $11,600 $38,065 $56,805
2022 $3,654 $12,293 $36,224 $60,489
2023 $3,478 $12,575 $40,182 $63,085
2024 - - $42,347 $67,364

Spending and national debt comparison

In 2024, Lebanon's government spending was $2.67B, accounting for 18.3% of its GDP, while Malta's spent $9.04B, or 36.3% of GDP.

Debt-to-GDP ratio is 149.1% in Lebanon and 49.3% in Malta, ranking 6/185 and 112/185, respectively.

Lebanon
Government spending

Government debt
Malta
Government spending

Government debt
Year % of GDP
Lebanon Malta
Government spending Government debt Government spending Government debt
1990 40% 99.7% - -
1991 35.6% 67.1% - -
1992 36.1% 51.7% - -
1993 23% 50.5% - -
1994 47.3% 71.5% - -
1995 31.1% 79.6% - 45.3%
1996 43.6% 101.2% - 51.5%
1997 40.5% 100.2% - 60.8%
1998 34.7% 108.2% - 66.4%
1999 35.6% 130.2% - 69.8%
2000 42.8% 148.1% 42.9% 64.4%
2001 38.9% 163.1% 44.4% 70%
2002 36.8% 163.1% 43.6% 65.1%
2003 36.4% 171.3% 45.6% 68.6%
2004 33.3% 169.5% 42% 70.4%
2005 31.4% 178.9% 42.5% 70.2%
2006 36.1% 183.3% 42.5% 64.5%
2007 35.2% 169.3% 41.2% 62%
2008 34.3% 161.5% 42.1% 61.5%
2009 32.1% 144.5% 41.1% 66%
2010 29.2% 136.8% 40.1% 65%
2011 28.8% 134.4% 41.5% 68.9%
2012 30.2% 131.1% 41.7% 65.6%
2013 28.9% 135.4% 40.1% 64.9%
2014 28.8% 138.4% 39.6% 60.7%
2015 26.7% 140.8% 37.8% 55%
2016 28.3% 146.4% 35.5% 53.1%
2017 30.6% 150% 32.7% 45.6%
2018 32.3% 155.1% 34.5% 41.4%
2019 31.3% 172.1% 34.9% 39.2%
2020 23% 148.7% 42.1% 48.6%
2021 10.2% 361% 39.5% 49.6%
2022 12.2% 246.5% 37.7% 49.3%
2023 13.3% 192.1% 36.5% 47.7%
2024 16.1% 164.1% 37.2% 48.6%
2025 18.3% 149.1% 36.3% 49.3%

Government deficit by year

In 2023, Lebanon's government deficit, the difference between spending and revenue, was -$21.1M, equivalent to -0.11% of GDP. This compares to Malta's deficit of -$1.02B, or -4.58% of GDP.

Over the past 24 years, Lebanon recorded a fiscal deficit in 24 of those years, while Malta ran a deficit in 20 years. On average, Lebanon posted an annual deficit equal to -9.68% of GDP, compared to deficit of -3.22% of GDP for Malta.

Deficit/surplus
Lebanon

Malta
Year Deficit/surplus, % of GDP
Lebanon Malta
1990 -30.2% -
1991 -19.5% -
1992 -24% -
1993 -7.19% -
1994 -29.1% -
1995 -13.6% -
1996 -25.7% -
1997 -24.5% -
1998 -17.3% -
1999 -16.7% -
2000 -23.9% -5.83%
2001 -21% -6.5%
2002 -16.2% -5.62%
2003 -14% -9.04%
2004 -9.83% -4.28%
2005 -8.57% -2.83%
2006 -10.6% -2.46%
2007 -10.9% -2.05%
2008 -9.86% -4.06%
2009 -8.1% -3.11%
2010 -7.47% -2.22%
2011 -5.94% -2.99%
2012 -8.43% -3.31%
2013 -8.82% -2.19%
2014 -6.22% -1.49%
2015 -7.48% -0.84%
2016 -8.88% 1.1%
2017 -8.65% 3.4%
2018 -11.3% 1.86%
2019 -10.5% 0.72%
2020 -7.15% -8.72%
2021 -1.98% -6.96%
2022 -6.5% -5.22%
2023 -0.11% -4.58%
2024 0.36% -3.79%
2025 0.01% -3.35%

Inflation comparison by year

Over the past 29 years, Lebanon has recorded an average annual inflation rate of 26%, compared with 2.2% in Malta. In 2024, inflation was 45.2% in Lebanon and 1.65% in Malta.

Inflation
Lebanon

Malta
Year Inflation
Lebanon Malta Lebanon Malta
1996 8.9% 2.05%
1997 7.7% 3.11%
1998 4.5% 2.39%
1999 0.2% 2.13%
2000 -0.4% 2.37%
2001 -0.4% 2.93%
2002 1.8% 2.19%
2003 1.3% 1.3%
2004 1.7% 2.79%
2005 -1.4% 3.01%
2006 4.1% 2.77%
2007 4.1% 1.25%
2008 10.7% 4.26%
2009 1.2% 2.08%
2010 4% 1.52%
2011 5% 2.96%
2012 6.6% 2.38%
2013 5.6% 1.18%
2014 1.1% 0.31%
2015 -3.8% 1.1%
2016 -0.8% 0.64%
2017 4.5% 1.36%
2018 6.1% 1.16%
2019 2.9% 1.64%
2020 84.9% 0.64%
2021 154.8% 1.5%
2022 171.2% 6.15%
2023 221.3% 5.09%
2024 45.2% 1.65%

Top exports between countries

Lebanon
Export category Export value
Raw materials & minerals $1.3M
Wood & paper products $600K
Chemicals & pharma $185K
Textiles & consumer goods $161K
Machinery & equipment $134K
Processed food, beverages & tobacco $112K
Miscellaneous $26K
Metals $19K
Precious metals & jewellery $1K
Malta
Export category Export value
Processed food, beverages & tobacco $1.12M
Chemicals & pharma $276K
Machinery & equipment $251K
Metals $53K
Raw agricultural goods $20K
Textiles & consumer goods $14K
Animal & marine products $11K
Wood & paper products $2K

Balance of trade

Lebanon Malta
Current account balance
-$5.64B
2023
$1.38B
2024
Current account balance ranking
168/189
2023
51/189
2024
Current account balance, % of GDP
-28.1%
2023
+5.69%
2024
Goods imports
$16.7B
2023
$7.31B
2024
Goods exports
$3.85B
2023
$4.58B
2024
Service imports
$6.63B
2023
$17.2B
2024
Service exports
$7.92B
2023
$24.7B
2024
Imports of goods and services, % of GDP
73.7%
2023
106.1%
2024
Exports of goods and services, % of GDP
30.6%
2023
123.5%
2024

Economic freedom indices

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

Lebanon Malta
Economic freedom 44.1 66.8
Economic freedom ranking 181/197 54/197
Property rights 22.3 86.2
Government integrity 24.5 55
Judicial effectiveness 22.6 81.5
Tax burden 90.3 70
Government spending 95.6 57.5
Fiscal health 63.6 44.8
Business freedom 47.8 80.7
Labor freedom 57.1 65.2
Monetary freedom 0 70.5
Trade freedom 65.4 79.6
Investment freedom 20 60
Financial freedom 20 50

Economic freedom by year comparison

The Economic Freedom Index for Lebanon is 44.1, ranking 181/197, compared to 66.8 for Malta, ranking 54/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Lebanon
Malta
Year Economic freedom index
Lebanon Malta
1995 - 56.3
1996 63.2 55.8
1997 63.9 57.9
1998 59 61.2
1999 59.1 59.3
2000 56.1 58.3
2001 61 62.9
2002 57.1 62.2
2003 56.7 61.1
2004 56.9 63.3
2005 57.2 68.9
2006 57.5 67.3
2007 60.4 66.1
2008 60 66
2009 58.1 66.1
2010 59.5 67.2
2011 60.1 65.7
2012 60.1 67
2013 59.5 67.5
2014 59.4 66.4
2015 59.3 66.5
2016 59.5 66.7
2017 53.3 67.7
2018 53.2 68.5
2019 51.1 68.6
2020 51.7 69.5
2021 51.4 70.2
2022 47.3 71.5
2023 45.6 67.5
2024 48.3 64.5
2025 44.1 66.8

More economic indicators

Lebanon Malta
Services, % of GDP
42.4%
2023
80.8%
2024
Industry, % of GDP
2.09%
2023
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
0.21%
2024
GNI, Atlas method
$21.6B
2023
$19.9B
2024
GNI per capita, PPP
$12,530
2023
$57,860
2024
Total reserves including gold
$33.3B
2024
$1.42B
2024
Total reserves ranking
54/177
2024
137/177
2024
Net foreign direct investment
-$583M
2023
-$11.6B
2024
Net inflows of foreign direct investment
$1.84B
2024
$42.5B
2024
Net outflows of foreign direct investment
$391M
2024
$30.9B
2024
Servicing debt to the IMF, % of GNI
21.8%
2023
n/a
Poverty at national poverty lines
27.4%
2012
16.7%
2021
Gross capital formation, % of GDP
1.9%
2023
18.8%
2024

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.