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Economy of Lebanon vs Nigeria compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $252B for Nigeria, ranking 128/197 and 54/197 by economy size, respectively.

Lebanon has $38.7B in government debt (163.8% of GDP), compared to $99.2B (39.3% of GDP) in Nigeria.

Lebanon vs Nigeria GDP by year

Lebanon
Nigeria
1x
Year GDP, current $
Lebanon Nigeria
2024 - $252,261,880,141
2023 $20,078,620,357 $487,387,801,881
2022 $20,992,421,949 $646,950,257,578
2021 $23,131,941,557 $609,147,716,973
2020 $31,712,128,254 $598,586,817,819
2019 $51,605,959,131 $668,219,992,691
2018 $54,901,519,156 $421,739,251,509
2017 $53,027,680,686 $375,745,731,053
2016 $51,147,308,774 $404,649,125,252
2015 $49,929,337,837 $493,026,682,801
2014 $48,095,213,747 $574,183,763,412
2013 $46,880,103,081 $520,117,180,314
2012 $44,016,799,516 $463,971,018,239
2011 $39,927,125,962 $414,466,676,831
2010 $38,443,907,042 $366,990,417,129
2009 $35,399,582,929 $295,008,835,381
2008 $29,118,916,105 $339,476,276,258
2007 $24,827,355,015 $278,260,846,800
2006 $22,022,709,851 $238,454,997,161
2005 $21,497,336,499 $175,670,569,969
2004 $21,159,827,992 $135,764,731,646
2003 $20,082,918,740 $104,738,954,264
2002 $19,152,238,806 $95,054,059,303
2001 $17,649,751,244 $73,557,840,064
2000 $17,260,364,842 $69,171,451,627
1999 $17,391,056,369 $59,145,077,039
1998 $17,247,179,006 $218,416,200,673
1997 $15,751,867,489 $200,850,397,618
1996 $13,690,217,334 $185,730,236,700
1995 $11,718,795,529 $140,919,776,986
1994 $9,599,127,050 $80,399,613,064
1993 $7,941,744,492 $56,721,051,402
1992 $5,843,579,161 $52,058,181,854
1991 $4,690,415,093 $59,526,833,412
1990 $2,838,485,354 $54,035,795,388
1989 $2,717,998,688 $44,003,061,108
1988 $3,313,540,068 $49,648,470,440
1987 - $52,676,041,931
1986 - $54,805,852,581
1985 - $73,745,821,158
1984 - $73,484,359,521
1983 - $97,094,911,792
1982 - $142,769,363,314
1981 - $164,475,209,516
1980 - $64,201,788,123
1979 - $47,259,911,894
1978 - $36,527,862,209
1977 - $36,035,407,725
1976 - $36,308,883,249
1975 - $27,778,934,625
1974 - $24,846,641,318
1973 - $15,162,871,287
1972 - $12,274,416,018
1971 - $9,181,769,912
1970 - $12,546,094,982
1969 - $6,634,317,346
1968 - $5,200,997,920
1967 - $5,203,237,919
1966 - $6,366,917,453
1965 - $5,874,537,650
1964 - $5,552,931,319
1963 - $5,165,590,254
1962 - $4,909,399,176
1961 - $4,467,287,893
1960 - $4,196,174,502

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

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

GDP per capita in Lebanon vs Nigeria by year

Lebanon
GDP per capita

GDP per capita, PPP
Nigeria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lebanon Nigeria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $1,084 $9,087
2023 $3,478 $12,575 $2,139 $8,705
2022 $3,654 $12,293 $2,899 $8,305
2021 $4,045 $11,600 $2,787 $7,588
2020 $5,561 $16,260 $2,797 $7,415
2019 $8,906 $21,710 $3,190 $7,551
2018 $9,175 $21,985 $2,058 $7,158
2017 $8,608 $20,964 $1,876 $7,037
2016 $8,089 $18,941 $2,070 $7,072
2015 $7,714 $17,046 $2,586 $7,308
2014 $7,578 $16,140 $3,089 $7,396
2013 $8,162 $16,316 $2,873 $7,004
2012 $8,407 $16,121 $2,633 $6,671
2011 $7,835 $14,975 $2,418 $6,585
2010 $7,626 $14,704 $2,202 $6,301
2009 $7,091 $13,586 $1,820 $5,927
2008 $5,912 $12,416 $2,154 $5,607
2007 $5,125 $11,356 $1,816 $5,298
2006 $4,635 $10,312 $1,600 $4,975
2005 $4,602 $10,020 $1,211 $4,678
2004 $4,601 $9,609 $962 $4,381
2003 $4,438 $8,914 $763 $4,015
2002 $4,291 $8,586 $712 $3,770
2001 $4,010 $8,289 $566 $3,309
2000 $3,987 $7,938 $547 $3,139
1999 $4,087 $7,793 $481 $3,002
1998 $4,125 $7,861 $1,822 $3,022
1997 $3,834 $7,632 $1,720 $2,990
1996 $3,393 $7,560 $1,633 $2,931
1995 $2,959 $6,796 $1,272 $2,835
1994 $2,468 $6,367 $745 $2,853
1993 $2,079 $5,871 $540 $2,921
1992 $1,559 $5,279 $509 $2,991
1991 $1,278 $4,527 $597 $2,870
1990 $790 $2,990 $556 $2,840
1989 $771 - $465 -
1988 $959 - $540 -
1987 - - $588 -
1986 - - $628 -
1985 - - $869 -
1984 - - $890 -
1983 - - $1,207 -
1982 - - $1,822 -
1981 - - $2,162 -
1980 - - $870 -
1979 - - $661 -
1978 - - $527 -
1977 - - $536 -
1976 - - $556 -
1975 - - $438 -
1974 - - $403 -
1973 - - $252.4 -
1972 - - $209.5 -
1971 - - $160.5 -
1970 - - $224.5 -
1969 - - $121.4 -
1968 - - $97.3 -
1967 - - $99.5 -
1966 - - $124.4 -
1965 - - $117.3 -
1964 - - $113.3 -
1963 - - $107.7 -
1962 - - $104.5 -
1961 - - $97.1 -
1960 - - $93.1 -

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

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

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $1,084 in Nigeria, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 123rd at $12,575, while Nigeria ranks 136th at $9,087.

Economic indicators

Lebanon Nigeria
Gross domestic product
$20.1B
2023
$252B
2024
GDP rank
128/197
2023
54/197
2024
GDP growth
-0.76%
2022-2023
4.06%
2023-2024
GDP per capita
$3,478
2023
$1,084
2024
GDP per capita rank
135/197
2023
174/197
2024
GDP per capita, PPP
$12,575
2023
$9,087
2024
GDP per capita PPP rank
123/197
2023
136/197
2024
Government debt
$38.7B
2023
$99.2B
2024
Debt-to-GDP ratio
163.8%
2024
39.3%
2024
Government debt per person
$6,704
2023
$426
2024
Government debt per person rank
70/185
2023
170/185
2024
Average annual personal income after taxes
$3,560
2026
$1,104
2026
Market capitalization of domestic companies
$10.6B
2021
$54.4B
2024
Number of billionaires
6
2025
4
2025
Income share by richest 10%
25.1%
2022
26.3%
2022
Income share by poorest 10%
2.8%
2022
3%
2022
Government expenditure, % of GDP
16.5%
2024
12.3%
2024
Consumer prices inflation
45.2%
2023-2024
33.2%
2023-2024
Central bank interest rate
20%
2023
27%
2025
Unemployment rate
11.3%
2019
3.45%
2024
Population
5906622
243824469

Spending and national debt comparison by year

Lebanon
Spending

Debt
Nigeria
Spending

Debt
1x
Year % of GDP
Lebanon Nigeria
Government spending Government debt Government spending Government debt
2024 16.5% 163.8% 12.3% 39.3%
2023 14.9% 192.8% 10.4% 36.3%
2022 13.4% 244.6% 10.6% 29.8%
2021 10.9% 358% 9.09% 26.6%
2020 23.2% 148.7% 8.73% 25.7%
2019 31.3% 172.1% 8.87% 21.4%
2018 32.3% 155.1% 9.1% 20.4%
2017 30.6% 150% 8.51% 18%
2016 28.3% 146.4% 6.93% 17.4%
2015 26.7% 140.8% 7.85% 14.9%
2014 28.8% 138.4% 9.49% 12.9%
2013 28.9% 135.4% 10% 13%
2012 30.2% 131.1% 10.5% 12.5%
2011 28.8% 134.4% 12.3% 12.4%
2010 29.2% 136.8% 11.8% 6.67%
2009 32.1% 144.5% 11% 6.12%
2008 34.3% 161.5% 10.2% 5.17%
2007 35.2% 169.3% 12.9% 5.76%
2006 36.1% 183.3% 8.75% 6.68%
2005 31.4% 178.9% 12.6% 13.4%
2004 33.3% 169.5% 13% 25.2%
2003 36.4% 171.3% 16.5% 29.9%
2002 36.8% 163.1% 13.8% 30.7%
2001 38.9% 163.1% 21.9% 37.7%
2000 42.8% 148.1% 17.6% 40.9%
1999 35.6% 130.2% 14.9% 46.1%
1998 34.7% 108.2% 11.2% 15.8%
1997 40.5% 100.2% 9.68% 17.1%
1996 43.6% 101.2% 7.87% 17.9%
1995 31.1% 79.6% 8.87% 24.2%
1994 47.3% 71.5% 12.1% 39.7%
1993 23% 50.5% 20% 50.4%
1992 36.1% 51.7% 15.9% 49.8%
1991 35.6% 67.1% 13.6% 53.2%
1990 40% 99.7% 14.2% 50.9%

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/nigeria | CC BY

In 2024, Lebanon's government spending was $2.99B, accounting for 16.5% of its GDP, while Nigeria spent $31.1B, or 12.3% of GDP.

Debt-to-GDP ratio is 163.8% in Lebanon and 39.3% in Nigeria, ranking 6/185 and 135/185, respectively.

Government deficit by year

Deficit/surplus
Lebanon

Nigeria
1x
Year Deficit/surplus, % of GDP
Lebanon Nigeria
2024 -0.19% -1.57%
2023 -1.7% -3.12%
2022 -7.77% -4%
2021 -2.67% -3.97%
2020 -7.37% -4.03%
2019 -10.5% -3.31%
2018 -11.3% -3.06%
2017 -8.65% -3.85%
2016 -8.88% -3.3%
2015 -7.48% -2.7%
2014 -6.22% -1.72%
2013 -8.82% -1.89%
2012 -8.43% -0.09%
2011 -5.94% 0.31%
2010 -7.47% -2.96%
2009 -8.1% -3.78%
2008 -9.86% 4.05%
2007 -10.9% -0.79%
2006 -10.6% 6.22%
2005 -8.57% 3.49%
2004 -9.83% 3.9%
2003 -14% -1.56%
2002 -16.2% 0.95%
2001 -21% -2.29%
2000 -23.9% 2.89%
1999 -16.7% -1.39%
1998 -17.3% -3.47%
1997 -24.5% 1.14%
1996 -25.7% 3.37%
1995 -13.6% 2.52%
1994 -29.1% -2.96%
1993 -7.19% -6.07%
1992 -24% 0.94%
1991 -19.5% -1.18%
1990 -30.2% -0.48%

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

GeoRank.org/economy/lebanon/nigeria | 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 Nigeria's deficit of $15.2B, or 3.12% of GDP.

Over the past 34 years, Lebanon recorded a fiscal deficit in 34 of those years, while Nigeria ran a deficit in 23 years. On average, Lebanon posted an annual deficit equal to 13.1% of GDP, compared to deficit of 0.95% of GDP for Nigeria.

Inflation comparison by year

Inflation
Lebanon

Nigeria
1x
Year Consumer prices inflation
Lebanon Nigeria
2024 45.2% 33.2%
2023 221.3% 24.7%
2022 171.2% 18.8%
2021 154.8% 17%
2020 84.9% 13.2%
2019 2.9% 11.4%
2018 6.1% 12.1%
2017 4.5% 16.5%
2016 -0.8% 15.7%
2015 -3.8% 9.01%
2014 1.1% 8.05%
2013 5.6% 8.5%
2012 6.6% 12.2%
2011 5% 10.8%
2010 4% 13.7%
2009 1.2% 12.5%
2008 10.7% 11.6%
2007 4.1% 5.39%
2006 4.1% 8.23%
2005 -1.4% 17.9%
2004 1.7% 15%
2003 1.3% 14%
2002 1.8% 12.9%
2001 -0.4% 18.9%
2000 -0.4% 6.93%
1999 0.2% 6.62%
1998 4.5% 10%
1997 7.7% 8.53%

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/nigeria | CC BY

Over the past 28 years, Lebanon has recorded an average annual inflation rate of 26.6%, compared with 13.3% in Nigeria. In 2024, inflation was 45.2% in Lebanon and 33.2% in Nigeria.

Top exports between countries

Lebanon
Export category Export value
Machinery & equipment $14.9M
Metals $4.12M
Textiles & consumer goods $3.84M
Processed food, beverages & tobacco $2.6M
Chemicals & pharma $1.63M
Raw agricultural goods $1.44M
Wood & paper products $1.13M
Animal & marine products $430K
Raw materials & minerals $338K
Miscellaneous $201K
Nigeria
Export category Export value
Raw agricultural goods $1.35M
Wood & paper products $373K
Processed food, beverages & tobacco $35K
Textiles & consumer goods $19K
Miscellaneous $3K

Balance of trade

Lebanon Nigeria
Current account balance
-$5.64B
2023
$17.2B
2024
Current account balance ranking
168/190
2023
20/190
2024
Current account balance, % of GDP
-28.1%
2023
+6.82%
2024
Goods imports
$16.7B
2023
$39.8B
2024
Goods exports
$3.85B
2023
$53B
2024
Service imports
$6.63B
2023
$17.9B
2024
Service exports
$7.92B
2023
$4.57B
2024
Imports of goods and services, % of GDP
73.7%
2023
16.9%
1960
Exports of goods and services, % of GDP
30.6%
2023
9.24%
1960

Economic freedom indices

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

Lebanon Nigeria
Economic freedom 43.1 54.8
Economic freedom ranking 183/197 132/197
Property rights 21.8 29.7
Government integrity 23.4 23.5
Judicial effectiveness 23.8 34.4
Tax burden 90.3 84.6
Government spending 93.3 96.3
Fiscal health 63.4 83.5
Business freedom 47.6 50.3
Labor freedom 48.4 75.4
Monetary freedom 0 56.1
Trade freedom 65.6 64.4
Investment freedom 20 30
Financial freedom 20 30

Economic freedom comparison by year

Lebanon
Nigeria
1x
Year Economic freedom index
Lebanon Nigeria
2026 43.1 54.8
2025 44.1 53.4
2024 48.3 53.1
2023 45.6 53.9
2022 47.3 54.4
2021 51.4 58.7
2020 51.7 57.2
2019 51.1 57.3
2018 53.2 58.5
2017 53.3 57.1
2016 59.5 57.5
2015 59.3 55.6
2014 59.4 54.3
2013 59.5 55.1
2012 60.1 56.3
2011 60.1 56.7
2010 59.5 56.8
2009 58.1 55.1
2008 60 55.1
2007 60.4 55.6
2006 57.5 48.7
2005 57.2 48.4
2004 56.9 49.2
2003 56.7 49.5
2002 57.1 50.9
2001 61 49.6
2000 56.1 53.1
1999 59.1 55.7
1998 59 52.3
1997 63.9 52.8
1996 63.2 47.4
1995 - 47.3

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

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

The Economic Freedom Index for Lebanon is 43.1, ranking 183/197, compared to 54.8 for Nigeria, ranking 132/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lebanon Nigeria
Services, % of GDP
42.4%
2023
53.7%
2024
Industry, % of GDP
2.09%
2023
18.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
25.9%
2024
GNI, Atlas method
$21.4B
2023
$396B
2024
GNI per capita, PPP
$12,420
2023
$8,850
2024
Total reserves including gold
$33.3B
2024
$38.6B
2024
Total reserves ranking
54/177
2024
51/177
2024
Net foreign direct investment
-$583M
2023
-$672M
2024
Net inflows of foreign direct investment
$1.84B
2024
$1.08B
2024
Net outflows of foreign direct investment
$391M
2024
$408M
2024
Servicing debt to the IMF, % of GNI
22%
2023
5.48%
2024
Poverty at national poverty lines
27.4%
2012
56.2%
2023
Gross capital formation, % of GDP
1.9%
2023
n/a

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/nigeria | 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.