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Economy of Lebanon vs Papua New Guinea compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $31.8B for Papua New Guinea, ranking 128/197 and 110/197 by economy size, respectively.

Lebanon has $38.7B in government debt (163.8% of GDP), compared to $16.6B (52.1% of GDP) in Papua New Guinea.

Lebanon vs Papua New Guinea GDP by year

Lebanon
Papua New Guinea
1x
Year GDP, current $
Lebanon Papua New Guinea
2024 - $31,800,428,266
2023 $20,078,620,357 $30,816,367,067
2022 $20,992,421,949 $31,653,185,953
2021 $23,131,941,557 $26,109,413,521
2020 $31,712,128,254 $23,848,447,850
2019 $51,605,959,131 $24,750,626,030
2018 $54,901,519,156 $24,109,780,708
2017 $53,027,680,686 $22,742,699,138
2016 $51,147,308,774 $20,758,876,953
2015 $49,929,337,837 $21,723,437,010
2014 $48,095,213,747 $23,210,823,987
2013 $46,880,103,081 $21,261,338,065
2012 $44,016,799,516 $21,295,168,666
2011 $39,927,125,962 $17,985,138,066
2010 $38,443,907,042 $14,250,786,675
2009 $35,399,582,929 $11,619,456,449
2008 $29,118,916,105 $11,670,892,801
2007 $24,827,355,015 $9,545,028,944
2006 $22,022,709,851 $8,354,911,041
2005 $21,497,336,499 $4,865,892,972
2004 $21,159,827,992 $3,927,157,867
2003 $20,082,918,740 $3,536,411,824
2002 $19,152,238,806 $2,999,511,040
2001 $17,649,751,244 $3,081,024,212
2000 $17,260,364,842 $3,521,339,699
1999 $17,391,056,369 $3,477,038,204
1998 $17,247,179,006 $3,789,443,015
1997 $15,751,867,489 $4,936,615,299
1996 $13,690,217,334 $5,155,311,077
1995 $11,718,795,529 $4,636,057,476
1994 $9,599,127,050 $5,502,786,070
1993 $7,941,744,492 $4,974,550,286
1992 $5,843,579,161 $4,377,980,510
1991 $4,690,415,093 $3,787,394,958
1990 $2,838,485,354 $3,219,729,083
1989 $2,717,998,688 $3,546,472,566
1988 $3,313,540,068 $3,656,177,881
1987 - $3,143,851,794
1986 - $2,647,995,602
1985 - $2,423,339,172
1984 - $2,552,662,617
1983 - $2,562,351,551
1982 - $2,368,719,683
1981 - $2,498,190,847
1980 - $2,545,808,456
1979 - $2,293,760,511
1978 - $1,947,878,831
1977 - $1,640,746,619
1976 - $1,511,843,235
1975 - $1,356,603,608
1974 - $1,467,417,672
1973 - $1,299,079,410
1972 - $858,761,926
1971 - $717,750,278
1970 - $645,568,215
1969 - $551,263,864
1968 - $485,184,190
1967 - $441,728,183
1966 - $390,992,063
1965 - $344,176,055
1964 - $305,312,049
1963 - $275,968,044
1962 - $261,184,042
1961 - $244,832,039
1960 - $230,496,037

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

GeoRank.org/economy/lebanon/papua-new-guinea | CC BY

GDP per capita in Lebanon vs Papua New Guinea by year

Lebanon
GDP per capita

GDP per capita, PPP
Papua New Guinea
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lebanon Papua New Guinea
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $3,007 $4,875
2023 $3,478 $12,575 $2,966 $4,668
2022 $3,654 $12,293 $3,102 $4,420
2021 $4,045 $11,600 $2,608 $3,977
2020 $5,561 $16,260 $2,430 $3,900
2019 $8,906 $21,710 $2,576 $4,060
2018 $9,175 $21,985 $2,566 $3,910
2017 $8,608 $20,964 $2,478 $3,923
2016 $8,089 $18,941 $2,316 $3,813
2015 $7,714 $17,046 $2,485 $3,670
2014 $7,578 $16,140 $2,723 $3,500
2013 $8,162 $16,316 $2,561 $3,110
2012 $8,407 $16,121 $2,635 $3,026
2011 $7,835 $14,975 $2,288 $2,919
2010 $7,626 $14,704 $1,867 $2,912
2009 $7,091 $13,586 $1,569 $2,692
2008 $5,912 $12,416 $1,625 $2,583
2007 $5,125 $11,356 $1,371 $2,622
2006 $4,635 $10,312 $1,238 $2,444
2005 $4,602 $10,020 $744 $2,322
2004 $4,601 $9,609 $621 $2,187
2003 $4,438 $8,914 $577 $2,142
2002 $4,291 $8,586 $506 $2,125
2001 $4,010 $8,289 $538 $2,168
2000 $3,987 $7,938 $636 $2,196
1999 $4,087 $7,793 $650 $2,280
1998 $4,125 $7,861 $733 $2,285
1997 $3,834 $7,632 $990 $2,432
1996 $3,393 $7,560 $1,071 $2,578
1995 $2,959 $6,796 $998 $2,436
1994 $2,468 $6,367 $1,228 $2,558
1993 $2,079 $5,871 $1,151 $2,451
1992 $1,559 $5,279 $1,051 $2,100
1991 $1,278 $4,527 $942 $1,869
1990 $790 $2,990 $826 $1,703
1989 $771 - $934 -
1988 $959 - $985 -
1987 - - $865 -
1986 - - $745 -
1985 - - $697 -
1984 - - $750 -
1983 - - $769 -
1982 - - $726 -
1981 - - $781 -
1980 - - $813 -
1979 - - $748 -
1978 - - $648 -
1977 - - $558 -
1976 - - $525 -
1975 - - $482 -
1974 - - $533 -
1973 - - $483 -
1972 - - $327 -
1971 - - $279.7 -
1970 - - $257.6 -
1969 - - $225.3 -
1968 - - $202.9 -
1967 - - $189 -
1966 - - $171.1 -
1965 - - $153.9 -
1964 - - $139.5 -
1963 - - $128.9 -
1962 - - $124.7 -
1961 - - $119.7 -
1960 - - $115.5 -

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

GeoRank.org/economy/lebanon/papua-new-guinea | CC BY

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $3,007 in Papua New Guinea, ranking 140/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 123rd at $12,575, while Papua New Guinea ranks 159th at $4,875.

Economic indicators

Lebanon Papua New Guinea
Gross domestic product
$20.1B
2023
$31.8B
2024
GDP rank
128/197
2023
110/197
2024
GDP growth
-0.76%
2022-2023
3.8%
2023-2024
GDP per capita
$3,478
2023
$3,007
2024
GDP per capita rank
135/197
2023
140/197
2024
GDP per capita, PPP
$12,575
2023
$4,875
2024
GDP per capita PPP rank
123/197
2023
159/197
2024
Government debt
$38.7B
2023
$16.6B
2024
Debt-to-GDP ratio
163.8%
2024
52.1%
2024
Government debt per person
$6,704
2023
$1,566
2024
Government debt per person rank
70/185
2023
129/185
2024
Average annual personal income after taxes
$3,560
2026
$2,362
2026
Market capitalization of domestic companies
$10.6B
2021
$1.68B
2017
Number of billionaires
6
2025
n/a
Income share by richest 10%
25.1%
2022
31%
2009
Income share by poorest 10%
2.8%
2022
1.9%
2009
Government expenditure, % of GDP
16.5%
2024
20.4%
2024
Consumer prices inflation
45.2%
2023-2024
0.6%
2023-2024
Central bank interest rate
20%
2023
5%
2025
Unemployment rate
11.3%
2019
2.69%
2022
Population
5906622
11002753

Spending and national debt comparison by year

Lebanon
Spending

Debt
Papua New Guinea
Spending

Debt
1x
Year % of GDP
Lebanon Papua New Guinea
Government spending Government debt Government spending Government debt
2024 16.5% 163.8% 20.4% 52.1%
2023 14.9% 192.8% 22.3% 53.9%
2022 13.4% 244.6% 21.9% 48.2%
2021 10.9% 358% 22% 52.6%
2020 23.2% 148.7% 23.5% 48.7%
2019 31.3% 172.1% 21.3% 38.2%
2018 32.3% 155.1% 20.3% 36.7%
2017 30.6% 150% 18.4% 32.5%
2016 28.3% 146.4% 20.9% 33.7%
2015 26.7% 140.8% 22.8% 29.9%
2014 28.8% 138.4% 27.1% 26.9%
2013 28.9% 135.4% 27.6% 24.9%
2012 30.2% 131.1% 22.4% 19.1%
2011 28.8% 134.4% 19.7% 16.3%
2010 29.2% 136.8% 18.4% 17.3%
2009 32.1% 144.5% 24.7% 21.7%
2008 34.3% 161.5% 19.8% 21.6%
2007 35.2% 169.3% 18% 22.2%
2006 36.1% 183.3% 19.4% 26%
2005 31.4% 178.9% 20.6% 31.6%
2004 33.3% 169.5% 19.4% 37.2%
2003 36.4% 171.3% 18.7% 40.4%
2002 36.8% 163.1% 20.8% 48.4%
2001 38.9% 163.1% 21.6% 47.7%
2000 42.8% 148.1% 20.5% 42.3%
1999 35.6% 130.2% 21.4% 41.8%
1998 34.7% 108.2% 20% 45.7%
1997 40.5% 100.2% 20.6% 43.9%
1996 43.6% 101.2% 17.6% 37.8%
1995 31.1% 79.6% 17.1% 36.6%
1994 47.3% 71.5% 19.3% 40.1%
1993 23% 50.5% 23.5% 30%
1992 36.1% 51.7% 22.8% 30.4%
1991 35.6% 67.1% 22.4% -
1990 40% 99.7% 24.5% -

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/papua-new-guinea | CC BY

In 2024, Lebanon's government spending was $2.99B, accounting for 16.5% of its GDP, while Papua New Guinea spent $6.48B, or 20.4% of GDP.

Debt-to-GDP ratio is 163.8% in Lebanon and 52.1% in Papua New Guinea, ranking 6/185 and 100/185, respectively.

Government deficit by year

Deficit/surplus
Lebanon

Papua New Guinea
1x
Year Deficit/surplus, % of GDP
Lebanon Papua New Guinea
2024 -0.19% -3.23%
2023 -1.7% -4.34%
2022 -7.77% -5.25%
2021 -2.67% -6.84%
2020 -7.37% -8.85%
2019 -10.5% -4.98%
2018 -11.3% -2.58%
2017 -8.65% -2.47%
2016 -8.88% -4.75%
2015 -7.48% -4.55%
2014 -6.22% -6.27%
2013 -8.82% -6.87%
2012 -8.43% -1.19%
2011 -5.94% 2.22%
2010 -7.47% 3.06%
2009 -8.1% -5.48%
2008 -9.86% 2.73%
2007 -10.9% 6.9%
2006 -10.6% 5.34%
2005 -8.57% 2.85%
2004 -9.83% 2.03%
2003 -14% 0.19%
2002 -16.2% -1.75%
2001 -21% -1.33%
2000 -23.9% 0.3%
1999 -16.7% -1.94%
1998 -17.3% -0.16%
1997 -24.5% 0.67%
1996 -25.7% 2.05%
1995 -13.6% 1.08%
1994 -29.1% -1.01%
1993 -7.19% -4.9%
1992 -24% -4.33%
1991 -19.5% -0.62%
1990 -30.2% -2.04%

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

GeoRank.org/economy/lebanon/papua-new-guinea | 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 Papua New Guinea's deficit of $1.34B, or 4.34% of GDP.

Over the past 34 years, Lebanon recorded a fiscal deficit in 34 of those years, while Papua New Guinea ran a deficit in 22 years. On average, Lebanon posted an annual deficit equal to 13.1% of GDP, compared to deficit of 1.56% of GDP for Papua New Guinea.

Inflation comparison by year

Inflation
Lebanon

Papua New Guinea
1x
Year Consumer prices inflation
Lebanon Papua New Guinea
2024 45.2% 0.6%
2023 221.3% 2.3%
2022 171.2% 5.25%
2021 154.8% 4.48%
2020 84.9% 4.87%
2019 2.9% 3.93%
2018 6.1% 4.37%
2017 4.5% 5.42%
2016 -0.8% 6.67%
2015 -3.8% 6%
2014 1.1% 5.22%
2013 5.6% 4.96%
2012 6.6% 4.54%
2011 5% 4.44%
2010 4% 6.01%
2009 1.2% 6.92%
2008 10.7% 10.8%
2007 4.1% 0.91%
2006 4.1% 2.37%
2005 -1.4% 1.78%
2004 1.7% 2.16%
2003 1.3% 14.7%
2002 1.8% 11.8%
2001 -0.4% 9.3%
2000 -0.4% 15.6%
1999 0.2% 14.9%
1998 4.5% 13.6%
1997 7.7% 3.96%

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/papua-new-guinea | CC BY

Over the past 28 years, Lebanon has recorded an average annual inflation rate of 26.6%, compared with 6.35% in Papua New Guinea. In 2024, inflation was 45.2% in Lebanon and 0.6% in Papua New Guinea.

Top exports between countries

Lebanon
Export category Export value
Papua New Guinea
Export category Export value
Miscellaneous $1K

Balance of trade

Lebanon Papua New Guinea
Current account balance
-$5.64B
2023
$4.77B
2024
Current account balance ranking
168/190
2023
33/190
2024
Current account balance, % of GDP
-28.1%
2023
+15%
2024
Goods imports
$16.7B
2023
$4.69B
2024
Goods exports
$3.85B
2023
$13.4B
2024
Service imports
$6.63B
2023
$2.4B
2024
Service exports
$7.92B
2023
$75.2M
2024
Imports of goods and services, % of GDP
73.7%
2023
58.9%
2004
Exports of goods and services, % of GDP
30.6%
2023
72.2%
2004

Economic freedom indices

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

Lebanon Papua New Guinea
Economic freedom 43.1 54.3
Economic freedom ranking 183/197 134/197
Property rights 21.8 45
Government integrity 23.4 30.8
Judicial effectiveness 23.8 41.1
Tax burden 90.3 70.9
Government spending 93.3 86.1
Fiscal health 63.4 65.3
Business freedom 47.6 34.2
Labor freedom 48.4 65.1
Monetary freedom 0 77.4
Trade freedom 65.6 80.2
Investment freedom 20 25
Financial freedom 20 30

Economic freedom comparison by year

Lebanon
Papua New Guinea
1x
Year Economic freedom index
Lebanon Papua New Guinea
2026 43.1 54.3
2025 44.1 52.5
2024 48.3 49.4
2023 45.6 51.7
2022 47.3 54.6
2021 51.4 58.9
2020 51.7 58.4
2019 51.1 58.4
2018 53.2 55.7
2017 53.3 50.9
2016 59.5 53.2
2015 59.3 53.1
2014 59.4 53.9
2013 59.5 53.6
2012 60.1 53.8
2011 60.1 52.6
2010 59.5 53.5
2009 58.1 54.8
2008 60 -
2007 60.4 -
2006 57.5 -
2005 57.2 -
2004 56.9 -
2003 56.7 -
2002 57.1 -
2001 61 57.2
2000 56.1 55.8
1999 59.1 56.3
1998 59 55.2
1997 63.9 56.7
1996 63.2 58.6

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

GeoRank.org/economy/lebanon/papua-new-guinea | CC BY

The Economic Freedom Index for Lebanon is 43.1, ranking 183/197, compared to 54.3 for Papua New Guinea, ranking 134/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lebanon Papua New Guinea
Services, % of GDP
42.4%
2023
41.5%
2024
Industry, % of GDP
2.09%
2023
37.2%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
17.2%
2024
GNI, Atlas method
$21.4B
2023
$30.7B
2024
GNI per capita, PPP
$12,420
2023
$4,580
2024
Total reserves including gold
$33.3B
2024
$3.9B
2023
Total reserves ranking
54/177
2024
107/177
2023
Net foreign direct investment
-$583M
2023
$968M
2024
Net inflows of foreign direct investment
$1.84B
2024
-$198M
2024
Net outflows of foreign direct investment
$391M
2024
$770M
2024
Servicing debt to the IMF, % of GNI
22%
2023
19.7%
2024
Poverty at national poverty lines
27.4%
2012
39.9%
2009
Gross capital formation, % of GDP
1.9%
2023
20%
2004

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/papua-new-guinea | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1999, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2023, retrieved 2026-02-08)

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.