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Economy of Lebanon vs Morocco compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $161B for Morocco, ranking 128/197 and 58/197 by economy size, respectively.

Lebanon has $38.7B in government debt (163.8% of GDP), compared to $109B (67.7% of GDP) in Morocco.

Lebanon vs Morocco GDP by year

Lebanon
Morocco
1x
Year GDP, current $
Lebanon Morocco
2024 - $160,610,994,055
2023 $20,078,620,357 $146,036,093,667
2022 $20,992,421,949 $131,245,312,804
2021 $23,131,941,557 $142,022,058,447
2020 $31,712,128,254 $121,353,645,057
2019 $51,605,959,131 $128,920,266,409
2018 $54,901,519,156 $127,341,147,582
2017 $53,027,680,686 $118,540,573,368
2016 $51,147,308,774 $111,572,947,005
2015 $49,929,337,837 $110,413,823,842
2014 $48,095,213,747 $119,130,841,412
2013 $46,880,103,081 $115,739,287,305
2012 $44,016,799,516 $106,937,392,311
2011 $39,927,125,962 $110,080,631,332
2010 $38,443,907,042 $100,865,329,473
2009 $35,399,582,929 $101,154,952,241
2008 $29,118,916,105 $101,822,906,949
2007 $24,827,355,015 $86,947,913,287
2006 $22,022,709,851 $75,883,823,301
2005 $21,497,336,499 $68,852,658,069
2004 $21,159,827,992 $66,114,145,451
2003 $20,082,918,740 $58,029,363,354
2002 $19,152,238,806 $47,077,192,188
2001 $17,649,751,244 $43,831,480,208
2000 $17,260,364,842 $43,017,455,402
1999 $17,391,056,369 $46,266,428,648
1998 $17,247,179,006 $46,497,608,725
1997 $15,751,867,489 $39,147,844,526
1996 $13,690,217,334 $43,161,571,528
1995 $11,718,795,529 $39,030,285,468
1994 $9,599,127,050 $35,604,137,423
1993 $7,941,744,492 $31,655,473,664
1992 $5,843,579,161 $33,711,069,431
1991 $4,690,415,093 $32,285,573,574
1990 $2,838,485,354 $30,179,954,775
1989 $2,717,998,688 $26,314,313,191
1988 $3,313,540,068 $25,705,296,184
1987 - $21,765,195,948
1986 - $19,462,085,540
1985 - $14,991,283,216
1984 - $14,824,667,954
1983 - $16,251,408,128
1982 - $17,692,276,734
1981 - $17,788,185,479
1980 - $21,728,516,153
1979 - $15,911,994,817
1978 - $13,236,946,234
1977 - $11,049,783,872
1976 - $9,584,297,284
1975 - $8,984,853,005
1974 - $7,675,466,449
1973 - $6,242,145,880
1972 - $5,074,117,545
1971 - $4,356,669,034
1970 - $3,956,336,244
1969 - $3,651,622,669
1968 - $3,271,422,333
1967 - $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

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

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

GDP per capita in Lebanon vs Morocco by year

Lebanon
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lebanon Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $4,218 $10,415
2023 $3,478 $12,575 $3,872 $9,895
2022 $3,654 $12,293 $3,516 $9,310
2021 $4,045 $11,600 $3,843 $8,623
2020 $5,561 $16,260 $3,317 $7,705
2019 $8,906 $21,710 $3,560 $8,046
2018 $9,175 $21,985 $3,553 $7,801
2017 $8,608 $20,964 $3,344 $8,115
2016 $8,089 $18,941 $3,186 $7,853
2015 $7,714 $17,046 $3,190 $7,799
2014 $7,578 $16,140 $3,483 $7,237
2013 $8,162 $16,316 $3,425 $7,542
2012 $8,407 $16,121 $3,206 $7,308
2011 $7,835 $14,975 $3,345 $7,274
2010 $7,626 $14,704 $3,107 $6,849
2009 $7,091 $13,586 $3,158 $6,629
2008 $5,912 $12,416 $3,222 $6,437
2007 $5,125 $11,356 $2,788 $6,058
2006 $4,635 $10,312 $2,466 $5,781
2005 $4,602 $10,020 $2,268 $5,275
2004 $4,601 $9,609 $2,207 $5,025
2003 $4,438 $8,914 $1,962 $4,741
2002 $4,291 $8,586 $1,612 $4,436
2001 $4,010 $8,289 $1,521 $4,269
2000 $3,987 $7,938 $1,513 $3,930
1999 $4,087 $7,793 $1,651 $3,801
1998 $4,125 $7,861 $1,683 $3,740
1997 $3,834 $7,632 $1,439 $3,502
1996 $3,393 $7,560 $1,610 $3,551
1995 $2,959 $6,796 $1,478 $3,152
1994 $2,468 $6,367 $1,369 $3,315
1993 $2,079 $5,871 $1,236 $2,979
1992 $1,559 $5,279 $1,337 $2,979
1991 $1,278 $4,527 $1,302 $3,025
1990 $790 $2,990 $1,238 $2,777
1989 $771 - $1,099 -
1988 $959 - $1,094 -
1987 - - $944 -
1986 - - $861 -
1985 - - $678 -
1984 - - $687 -
1983 - - $772 -
1982 - - $862 -
1981 - - $890 -
1980 - - $1,117 -
1979 - - $839 -
1978 - - $716 -
1977 - - $613 -
1976 - - $545 -
1975 - - $524 -
1974 - - $459 -
1973 - - $382 -
1972 - - $319 -
1971 - - $280.6 -
1970 - - $261.5 -
1969 - - $247.8 -
1968 - - $228 -
1967 - - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

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

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

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $4,218 in Morocco, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 123rd at $12,575, while Morocco ranks 132nd at $10,415.

Economic indicators

Lebanon Morocco
Gross domestic product
$20.1B
2023
$161B
2024
GDP rank
128/197
2023
58/197
2024
GDP growth
-0.76%
2022-2023
3.79%
2023-2024
GDP per capita
$3,478
2023
$4,218
2024
GDP per capita rank
135/197
2023
127/197
2024
GDP per capita, PPP
$12,575
2023
$10,415
2024
GDP per capita PPP rank
123/197
2023
132/197
2024
Government debt
$38.7B
2023
$109B
2024
Debt-to-GDP ratio
163.8%
2024
67.7%
2024
Government debt per person
$6,704
2023
$2,857
2024
Government debt per person rank
70/185
2023
104/185
2024
Average annual personal income after taxes
$3,560
2026
$5,678
2026
Market capitalization of domestic companies
$10.6B
2021
$74.5B
2024
Number of billionaires
6
2025
3
2025
Income share by richest 10%
25.1%
2022
31.9%
2013
Income share by poorest 10%
2.8%
2022
2.7%
2013
Government expenditure, % of GDP
16.5%
2024
33%
2024
Consumer prices inflation
45.2%
2023-2024
0.99%
2023-2024
Central bank interest rate
20%
2023
2.25%
2025
Unemployment rate
11.3%
2019
11.8%
2022
Population
5906622
38871720

Spending and national debt comparison by year

Lebanon
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Lebanon Morocco
Government spending Government debt Government spending Government debt
2024 16.5% 163.8% 33% 67.7%
2023 14.9% 192.8% 32% 68.7%
2022 13.4% 244.6% 33.7% 71.4%
2021 10.9% 358% 31% 69.4%
2020 23.2% 148.7% 34.1% 72.2%
2019 31.3% 172.1% 27.6% 60.3%
2018 32.3% 155.1% 27.8% 60.5%
2017 30.6% 150% 27.9% 60.3%
2016 28.3% 146.4% 28.6% 60.1%
2015 26.7% 140.8% 28.5% 58.4%
2014 28.8% 138.4% 30.7% 58.6%
2013 28.9% 135.4% 30.4% 57.1%
2012 30.2% 131.1% 32.5% 52.3%
2011 28.8% 134.4% 31.2% 48.6%
2010 29.2% 136.8% 28.7% 45.3%
2009 32.1% 144.5% 28.1% 42.6%
2008 34.3% 161.5% 28.3% 42%
2007 35.2% 169.3% 26.4% 47.1%
2006 36.1% 183.3% 26% 50.6%
2005 31.4% 178.9% 28.6% 54.8%
2004 33.3% 169.5% 24.5% 54.4%
2003 36.4% 171.3% 24.1% 56.9%
2002 36.8% 163.1% 25.8% 59.4%
2001 38.9% 163.1% 23.7% 60.4%
2000 42.8% 148.1% 22.8% 64.9%
1999 35.6% 130.2% 18.4% 63.4%
1998 34.7% 108.2% 18.7% 64.5%
1997 40.5% 100.2% 18.6% 68%
1996 43.6% 101.2% 17.6% 65.3%
1995 31.1% 79.6% 21.3% 72.2%
1994 47.3% 71.5% 21.7% 69.3%
1993 23% 50.5% 23.1% 74.7%
1992 36.1% 51.7% 22.3% 67%
1991 35.6% 67.1% 20.8% 59.1%
1990 40% 99.7% 22.6% 70.5%

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/morocco | CC BY

In 2024, Lebanon's government spending was $2.99B, accounting for 16.5% of its GDP, while Morocco spent $53.1B, or 33% of GDP.

Debt-to-GDP ratio is 163.8% in Lebanon and 67.7% in Morocco, ranking 6/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Lebanon

Morocco
1x
Year Deficit/surplus, % of GDP
Lebanon Morocco
2024 -0.19% -3.92%
2023 -1.7% -4.41%
2022 -7.77% -5.37%
2021 -2.67% -5.92%
2020 -7.37% -7.15%
2019 -10.5% -3.8%
2018 -11.3% -3.52%
2017 -8.65% -3.3%
2016 -8.88% -4.49%
2015 -7.48% -4.59%
2014 -6.22% -4.78%
2013 -8.82% -4.7%
2012 -8.43% -6.63%
2011 -5.94% -6.08%
2010 -7.47% -3.93%
2009 -8.1% -1.63%
2008 -9.86% 0.63%
2007 -10.9% -0.12%
2006 -10.6% -1.8%
2005 -8.57% -5.46%
2004 -9.83% -3.31%
2003 -14% -3.74%
2002 -16.2% -4.37%
2001 -21% -3.79%
2000 -23.9% -1.97%
1999 -16.7% 3.21%
1998 -17.3% 1.47%
1997 -24.5% 1.5%
1996 -25.7% 0.87%
1995 -13.6% -2.54%
1994 -29.1% -2.51%
1993 -7.19% -2%
1992 -24% -1.84%
1991 -19.5% -0.9%
1990 -30.2% -1.32%

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

GeoRank.org/economy/lebanon/morocco | 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 Morocco's deficit of $6.43B, or 4.41% of GDP.

Over the past 34 years, Lebanon recorded a fiscal deficit in 34 of those years, while Morocco ran a deficit in 29 years. On average, Lebanon posted an annual deficit equal to 13.1% of GDP, compared to deficit of 2.89% of GDP for Morocco.

Inflation comparison by year

Inflation
Lebanon

Morocco
1x
Year Consumer prices inflation
Lebanon Morocco
2024 45.2% 0.99%
2023 221.3% 6.09%
2022 171.2% 6.66%
2021 154.8% 1.4%
2020 84.9% 0.71%
2019 2.9% 0.3%
2018 6.1% 1.8%
2017 4.5% 0.75%
2016 -0.8% 1.64%
2015 -3.8% 1.56%
2014 1.1% 0.44%
2013 5.6% 1.88%
2012 6.6% 1.29%
2011 5% 0.91%
2010 4% 0.99%
2009 1.2% 0.97%
2008 10.7% 3.71%
2007 4.1% 2.04%
2006 4.1% 3.28%
2005 -1.4% 0.98%
2004 1.7% 1.49%
2003 1.3% 1.17%
2002 1.8% 2.8%
2001 -0.4% 0.62%
2000 -0.4% 1.89%
1999 0.2% 0.68%
1998 4.5% 2.75%
1997 7.7% 1.04%

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/morocco | CC BY

Over the past 28 years, Lebanon has recorded an average annual inflation rate of 26.6%, compared with 1.82% in Morocco. In 2024, inflation was 45.2% in Lebanon and 0.99% in Morocco.

Top exports between countries

Lebanon
Export category Export value
Metals $15.8M
Wood & paper products $4.13M
Chemicals & pharma $4.05M
Raw agricultural goods $2.95M
Processed food, beverages & tobacco $2.08M
Textiles & consumer goods $729K
Machinery & equipment $618K
Precious metals & jewellery $131K
Raw materials & minerals $81K
Miscellaneous $13K
Morocco
Export category Export value
Processed food, beverages & tobacco $39.3M
Raw materials & minerals $14.9M
Machinery & equipment $6.66M
Animal & marine products $5.63M
Metals $413K
Textiles & consumer goods $382K
Chemicals & pharma $227K
Raw agricultural goods $201K
Precious metals & jewellery $175K
Wood & paper products $86K

Balance of trade

Lebanon Morocco
Current account balance
-$5.64B
2023
-$1.87B
2024
Current account balance ranking
168/190
2023
141/190
2024
Current account balance, % of GDP
-28.1%
2023
-1.16%
2024
Goods imports
$16.7B
2023
$66.5B
2024
Goods exports
$3.85B
2023
$39.3B
2024
Service imports
$6.63B
2023
$14.3B
2024
Service exports
$7.92B
2023
$28.2B
2024
Imports of goods and services, % of GDP
73.7%
2023
50.2%
2024
Exports of goods and services, % of GDP
30.6%
2023
42%
2024

Economic freedom indices

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

Lebanon Morocco
Economic freedom 43.1 61.8
Economic freedom ranking 183/197 91/197
Property rights 21.8 55.2
Government integrity 23.4 35.6
Judicial effectiveness 23.8 32.5
Tax burden 90.3 65.5
Government spending 93.3 67.5
Fiscal health 63.4 57.5
Business freedom 47.6 72.1
Labor freedom 48.4 46.2
Monetary freedom 0 79.6
Trade freedom 65.6 69.8
Investment freedom 20 80
Financial freedom 20 80

Economic freedom comparison by year

Lebanon
Morocco
1x
Year Economic freedom index
Lebanon Morocco
2026 43.1 61.8
2025 44.1 60.3
2024 48.3 56.8
2023 45.6 58.4
2022 47.3 59.2
2021 51.4 63.3
2020 51.7 63.3
2019 51.1 62.9
2018 53.2 61.9
2017 53.3 61.5
2016 59.5 61.3
2015 59.3 60.1
2014 59.4 58.3
2013 59.5 59.6
2012 60.1 60.2
2011 60.1 59.6
2010 59.5 59.2
2009 58.1 57.7
2008 60 55.6
2007 60.4 56.4
2006 57.5 51.5
2005 57.2 52.2
2004 56.9 56.7
2003 56.7 57.8
2002 57.1 59
2001 61 63.9
2000 56.1 63.2
1999 59.1 63.8
1998 59 61.1
1997 63.9 64.7
1996 63.2 64.3
1995 - 62.8

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Lebanon is 43.1, ranking 183/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lebanon Morocco
Services, % of GDP
42.4%
2023
52.7%
2024
Industry, % of GDP
2.09%
2023
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
10.6%
2024
GNI, Atlas method
$21.4B
2023
$149B
2024
GNI per capita, PPP
$12,420
2023
$10,260
2024
Total reserves including gold
$33.3B
2024
$37.1B
2024
Total reserves ranking
54/177
2024
52/177
2024
Net foreign direct investment
-$583M
2023
-$948M
2024
Net inflows of foreign direct investment
$1.84B
2024
$1.64B
2024
Net outflows of foreign direct investment
$391M
2024
$691M
2024
Servicing debt to the IMF, % of GNI
22%
2023
5.63%
2024
Poverty at national poverty lines
27.4%
2012
3.9%
2022
Gross capital formation, % of GDP
1.9%
2023
30.1%
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/morocco | 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 (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2021–2023, 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.