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Economy of Lebanon vs Oman compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $107B for Oman, ranking 128/197 and 70/197 by economy size, respectively.

Lebanon has $38.7B in government debt (163.8% of GDP), compared to $38B (35.5% of GDP) in Oman.

Lebanon vs Oman GDP by year

Lebanon
Oman
1x
Year GDP, current $
Lebanon Oman
2024 - $107,137,198,769
2023 $20,078,620,357 $106,174,708,037
2022 $20,992,421,949 $109,852,795,839
2021 $23,131,941,557 $87,323,797,139
2020 $31,712,128,254 $75,909,492,848
2019 $51,605,959,131 $88,060,858,257
2018 $54,901,519,156 $91,505,851,756
2017 $53,027,680,686 $80,856,697,009
2016 $51,147,308,774 $75,128,738,622
2015 $49,929,337,837 $78,710,793,238
2014 $48,095,213,747 $92,699,089,727
2013 $46,880,103,081 $89,936,020,806
2012 $44,016,799,516 $87,408,842,653
2011 $39,927,125,962 $77,497,529,259
2010 $38,443,907,042 $64,993,498,049
2009 $35,399,582,929 $55,454,096,229
2008 $29,118,916,105 $69,804,681,404
2007 $24,827,355,015 $48,300,390,117
2006 $22,022,709,851 $42,577,633,290
2005 $21,497,336,499 $35,506,892,068
2004 $21,159,827,992 $28,378,933,680
2003 $20,082,918,740 $24,733,680,104
2002 $19,152,238,806 $23,065,539,662
2001 $17,649,751,244 $22,205,721,717
2000 $17,260,364,842 $22,259,557,867
1999 $17,391,056,369 $17,832,769,831
1998 $17,247,179,006 $16,044,213,264
1997 $15,751,867,489 $18,039,791,938
1996 $13,690,217,334 $17,402,080,624
1995 $11,718,795,529 $15,722,236,671
1994 $9,599,127,050 $14,715,214,564
1993 $7,941,744,492 $14,230,429,129
1992 $5,843,579,161 $14,183,615,085
1991 $4,690,415,093 $12,918,335,501
1990 $2,838,485,354 $13,310,273,082
1989 $2,717,998,688 $9,372,171,651
1988 $3,313,540,068 $8,386,215,865
1987 - $7,811,183,095
1986 - $7,324,167,369
1985 - $10,005,645,420
1984 - $8,821,443,151
1983 - $7,932,541,691
1982 - $7,554,719,456
1981 - $7,259,120,151
1980 - $5,981,760,278
1979 - $3,733,352,635
1978 - $2,740,301,390
1977 - $2,741,169,948
1976 - $2,560,220,035
1975 - $2,096,699,189
1974 - $1,645,917,776
1973 - $483,066,991
1972 - $366,883,548
1971 - $301,010,587
1970 - $256,319,795
1969 - $239,999,808
1968 - $188,879,849
1967 - $107,151,832
1966 - $67,759,973
1965 - $63,279,975
1964 - $61,872,526
1963 - $59,912,763
1962 - $56,273,202
1961 - $45,634,487
1960 - $44,234,656

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

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

GDP per capita in Lebanon vs Oman by year

Lebanon
GDP per capita

GDP per capita, PPP
Oman
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lebanon Oman
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $20,285 $41,740
2023 $3,478 $12,575 $21,028 $41,945
2022 $3,654 $12,293 $23,224 $42,616
2021 $4,045 $11,600 $19,403 $38,719
2020 $5,561 $16,260 $16,785 $35,163
2019 $8,906 $21,710 $19,180 $37,251
2018 $9,175 $21,985 $19,902 $37,780
2017 $8,608 $20,964 $17,820 $33,619
2016 $8,089 $18,941 $17,110 $33,334
2015 $7,714 $17,046 $18,808 $36,058
2014 $7,578 $16,140 $23,161 $44,236
2013 $8,162 $16,316 $23,458 $47,013
2012 $8,407 $16,121 $24,642 $49,989
2011 $7,835 $14,975 $25,188 $52,393
2010 $7,626 $14,704 $23,570 $55,667
2009 $7,091 $13,586 $20,656 $55,127
2008 $5,912 $12,416 $26,577 $52,841
2007 $5,125 $11,356 $18,793 $48,627
2006 $4,635 $10,312 $16,931 $46,091
2005 $4,602 $10,020 $14,435 $43,673
2004 $4,601 $9,609 $11,801 $42,142
2003 $4,438 $8,914 $10,464 $40,935
2002 $4,291 $8,586 $9,869 $41,511
2001 $4,010 $8,289 $9,612 $41,679
2000 $3,987 $7,938 $9,754 $39,443
1999 $4,087 $7,793 $7,915 $36,792
1998 $4,125 $7,861 $7,219 $36,666
1997 $3,834 $7,632 $8,235 $36,809
1996 $3,393 $7,560 $8,068 $34,661
1995 $2,959 $6,796 $7,414 $33,598
1994 $2,468 $6,367 $7,068 $31,925
1993 $2,079 $5,871 $7,039 $30,987
1992 $1,559 $5,279 $7,318 $29,773
1991 $1,278 $4,527 $6,977 $28,109
1990 $790 $2,990 $7,546 $26,904
1989 $771 - $5,591 -
1988 $959 - $5,279 -
1987 - - $5,204 -
1986 - - $5,182 -
1985 - - $7,549 -
1984 - - $7,070 -
1983 - - $6,714 -
1982 - - $6,759 -
1981 - - $6,866 -
1980 - - $5,974 -
1979 - - $3,934 -
1978 - - $3,044 -
1977 - - $3,205 -
1976 - - $3,143 -
1975 - - $2,692 -
1974 - - $2,203 -
1973 - - $670 -
1972 - - $524 -
1971 - - $442 -
1970 - - $387 -
1969 - - $372 -
1968 - - $300 -
1967 - - $174.7 -
1966 - - $113.2 -
1965 - - $108.1 -
1964 - - $108.1 -
1963 - - $106.8 -
1962 - - $102.3 -
1961 - - $84.5 -
1960 - - $83.4 -

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

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

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $20,285 in Oman, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 123rd at $12,575, while Oman ranks 55th at $41,740.

Economic indicators

Lebanon Oman
Gross domestic product
$20.1B
2023
$107B
2024
GDP rank
128/197
2023
70/197
2024
GDP growth
-0.76%
2022-2023
1.63%
2023-2024
GDP per capita
$3,478
2023
$20,285
2024
GDP per capita rank
135/197
2023
57/197
2024
GDP per capita, PPP
$12,575
2023
$41,740
2024
GDP per capita PPP rank
123/197
2023
55/197
2024
Government debt
$38.7B
2023
$38B
2024
Debt-to-GDP ratio
163.8%
2024
35.5%
2024
Government debt per person
$6,704
2023
$7,204
2024
Government debt per person rank
70/185
2023
67/185
2024
Average annual personal income after taxes
$3,560
2026
$20,894
2026
Market capitalization of domestic companies
$10.6B
2021
$22.3B
2022
Number of billionaires
6
2025
2
2025
Income share by richest 10%
25.1%
2022
n/a
Income share by poorest 10%
2.8%
2022
n/a
Government expenditure, % of GDP
16.5%
2024
28.7%
2024
Consumer prices inflation
45.2%
2023-2024
0.6%
2023-2024
Central bank interest rate
20%
2023
4.5%
2025
Unemployment rate
11.3%
2019
3.3%
2024
Population
5906622
5761708

Spending and national debt comparison by year

Lebanon
Spending

Debt
Oman
Spending

Debt
1x
Year % of GDP
Lebanon Oman
Government spending Government debt Government spending Government debt
2024 16.5% 163.8% 28.7% 35.5%
2023 14.9% 192.8% 27.5% 37.5%
2022 13.4% 244.6% 30.9% 41.7%
2021 10.9% 358% 36.5% 61.9%
2020 23.2% 148.7% 44.5% 67.9%
2019 31.3% 172.1% 38.8% 52.5%
2018 32.3% 155.1% 38.3% 44.7%
2017 30.6% 150% 39.4% 40.1%
2016 28.3% 146.4% 44.6% 29.3%
2015 26.7% 140.8% 44.5% 13.9%
2014 28.8% 138.4% 41.4% 4.04%
2013 28.9% 135.4% 39.3% 4.66%
2012 30.2% 131.1% 38.6% 4.59%
2011 28.8% 134.4% 34.5% 4.44%
2010 29.2% 136.8% 30.6% 5.46%
2009 32.1% 144.5% 33.4% 5.8%
2008 34.3% 161.5% 25.6% 3.2%
2007 35.2% 169.3% 30.7% 4.44%
2006 36.1% 183.3% 30.1% 7.56%
2005 31.4% 178.9% 30.6% 8.39%
2004 33.3% 169.5% 34.1% 14.5%
2003 36.4% 171.3% 34% 13%
2002 36.8% 163.1% 34.1% 15.9%
2001 38.9% 163.1% 33.3% 22.5%
2000 42.8% 148.1% 31.2% 21.7%
1999 35.6% 130.2% 34.2% 28.9%
1998 34.7% 108.2% 36.1% 30.9%
1997 40.5% 100.2% 32.1% 20.8%
1996 43.6% 101.2% 33.5% 21.2%
1995 31.1% 79.6% 38.2% 21.9%
1994 47.3% 71.5% 39.7% 23.6%
1993 23% 50.5% 40.1% 22.2%
1992 36.1% 51.7% 40.1% 23.1%
1991 35.6% 67.1% 37.4% 22.6%
1990 40% 99.7% 36.5% 17.8%

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/oman | CC BY

In 2024, Lebanon's government spending was $2.99B, accounting for 16.5% of its GDP, while Oman spent $30.7B, or 28.7% of GDP.

Debt-to-GDP ratio is 163.8% in Lebanon and 35.5% in Oman, ranking 6/185 and 145/185, respectively.

Government deficit by year

Deficit/surplus
Lebanon

Oman
1x
Year Deficit/surplus, % of GDP
Lebanon Oman
2024 -0.19% 3.31%
2023 -1.7% 6.87%
2022 -7.77% 10.5%
2021 -2.67% -3.17%
2020 -7.37% -15.7%
2019 -10.5% -4.83%
2018 -11.3% -6.72%
2017 -8.65% -10.5%
2016 -8.88% -19.6%
2015 -7.48% -13.5%
2014 -6.22% -1.58%
2013 -8.82% 2.78%
2012 -8.43% 4.07%
2011 -5.94% 8.24%
2010 -7.47% 4.95%
2009 -8.1% -0.27%
2008 -9.86% 14.7%
2007 -10.9% 10.5%
2006 -10.6% 12.2%
2005 -8.57% 11.2%
2004 -9.83% 5.43%
2003 -14% 5.92%
2002 -16.2% 5.31%
2001 -21% 7.55%
2000 -23.9% 12.2%
1999 -16.7% 0.3%
1998 -17.3% -4.37%
1997 -24.5% 4.77%
1996 -25.7% 2.22%
1995 -13.6% -3.9%
1994 -29.1% -7.47%
1993 -7.19% -6.84%
1992 -24% -4.85%
1991 -19.5% 0.12%
1990 -30.2% 4.78%

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

GeoRank.org/economy/lebanon/oman | 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 Oman's surplus of $7.29B, or 6.87% of GDP.

Over the past 34 years, Lebanon recorded a fiscal deficit in 34 of those years, while Oman ran a deficit in 14 years. On average, Lebanon posted an annual deficit equal to 13.1% of GDP, compared to surplus of 0.92% of GDP for Oman.

Inflation comparison by year

Inflation
Lebanon

Oman
1x
Year Consumer prices inflation
Lebanon Oman
2024 45.2% 0.6%
2023 221.3% 1%
2022 171.2% 2.5%
2021 154.8% 1.7%
2020 84.9% -0.4%
2019 2.9% 0.5%
2018 6.1% 0.7%
2017 4.5% 1.5%
2016 -0.8% 0.9%
2015 -3.8% 0.1%
2014 1.1% 1.2%
2013 5.6% 1.3%
2012 6.6% 2.9%
2011 5% 4.1%
2010 4% 3.3%
2009 1.2% 3.5%
2008 10.7% 12.6%
2007 4.1% 5.9%
2006 4.1% 3.2%
2005 -1.4% 1.9%
2004 1.7% 0.8%
2003 1.3% 0.2%
2002 1.8% -0.3%
2001 -0.4% -0.8%
2000 -0.4% -1.2%
1999 0.2% 0.5%
1998 4.5% 0.4%
1997 7.7% -0.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

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

Over the past 28 years, Lebanon has recorded an average annual inflation rate of 26.6%, compared with 1.72% in Oman. In 2024, inflation was 45.2% in Lebanon and 0.6% in Oman.

Top exports between countries

Lebanon
Export category Export value
Raw agricultural goods $7.9M
Processed food, beverages & tobacco $7.56M
Chemicals & pharma $5.25M
Machinery & equipment $3.54M
Textiles & consumer goods $2.82M
Wood & paper products $2.68M
Animal & marine products $1.03M
Precious metals & jewellery $702K
Miscellaneous $609K
Metals $371K
Oman
Export category Export value
Chemicals & pharma $4.32M
Textiles & consumer goods $1.96M
Processed food, beverages & tobacco $1.16M
Animal & marine products $1.14M
Raw materials & minerals $866K
Machinery & equipment $603K
Metals $595K
Raw agricultural goods $85K
Wood & paper products $42K
Miscellaneous $35K

Balance of trade

Lebanon Oman
Current account balance
-$5.64B
2023
$3.07B
2024
Current account balance ranking
168/190
2023
39/190
2024
Current account balance, % of GDP
-28.1%
2023
+2.86%
2024
Goods imports
$16.7B
2023
$39.5B
2024
Goods exports
$3.85B
2023
$65.2B
2024
Service imports
$6.63B
2023
$12.8B
2024
Service exports
$7.92B
2023
$5.64B
2024
Imports of goods and services, % of GDP
73.7%
2023
48.8%
2024
Exports of goods and services, % of GDP
30.6%
2023
66.1%
2024

Economic freedom indices

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

Lebanon Oman
Economic freedom 43.1 68.5
Economic freedom ranking 183/197 45/197
Property rights 21.8 71.8
Government integrity 23.4 49.4
Judicial effectiveness 23.8 28
Tax burden 90.3 97.6
Government spending 93.3 74.7
Fiscal health 63.4 97.5
Business freedom 47.6 67.8
Labor freedom 48.4 47.7
Monetary freedom 0 79.2
Trade freedom 65.6 78.4
Investment freedom 20 70
Financial freedom 20 60

Economic freedom comparison by year

Lebanon
Oman
1x
Year Economic freedom index
Lebanon Oman
2026 43.1 68.5
2025 44.1 65.4
2024 48.3 62.9
2023 45.6 58.5
2022 47.3 56.6
2021 51.4 64.6
2020 51.7 63.6
2019 51.1 61
2018 53.2 61
2017 53.3 62.1
2016 59.5 67.1
2015 59.3 66.7
2014 59.4 67.4
2013 59.5 68.1
2012 60.1 67.9
2011 60.1 69.8
2010 59.5 67.7
2009 58.1 67
2008 60 67.3
2007 60.4 65.8
2006 57.5 63.7
2005 57.2 66.5
2004 56.9 66.9
2003 56.7 64.6
2002 57.1 64
2001 61 67.7
2000 56.1 64.1
1999 59.1 64.9
1998 59 64.9
1997 63.9 64.5
1996 63.2 65.4
1995 - 70.2

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

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

The Economic Freedom Index for Lebanon is 43.1, ranking 183/197, compared to 68.5 for Oman, ranking 45/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lebanon Oman
Services, % of GDP
42.4%
2023
46%
2024
Industry, % of GDP
2.09%
2023
54.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
2.6%
2024
GNI, Atlas method
$21.4B
2023
$103B
2024
GNI per capita, PPP
$12,420
2023
$39,340
2024
Total reserves including gold
$33.3B
2024
$18.3B
2024
Total reserves ranking
54/177
2024
64/177
2024
Net foreign direct investment
-$583M
2023
-$12.6B
2024
Net inflows of foreign direct investment
$1.84B
2024
$12.5B
2024
Net outflows of foreign direct investment
$391M
2024
-$143M
2024
Servicing debt to the IMF, % of GNI
22%
2023
n/a
Poverty at national poverty lines
27.4%
2012
n/a
Gross capital formation, % of GDP
1.9%
2023
24.8%
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/oman | 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 (2022–2023, 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.