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Economy of Lebanon vs Singapore compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $547B for Singapore, ranking 128/197 and 28/197 by economy size, respectively.

Lebanon has $38.7B in government debt (163.8% of GDP), compared to $950B (173.5% of GDP) in Singapore.

Lebanon vs Singapore GDP by year

Lebanon
Singapore
1x
Year GDP, current $
Lebanon Singapore
2024 - $547,386,645,892
2023 $20,078,620,357 $505,439,514,078
2022 $20,992,421,949 $509,017,841,147
2021 $23,131,941,557 $436,591,382,250
2020 $31,712,128,254 $349,165,858,545
2019 $51,605,959,131 $376,161,998,830
2018 $54,901,519,156 $377,123,710,561
2017 $53,027,680,686 $343,673,334,902
2016 $51,147,308,774 $319,646,468,521
2015 $49,929,337,837 $307,998,545,269
2014 $48,095,213,747 $314,863,580,758
2013 $46,880,103,081 $307,576,360,585
2012 $44,016,799,516 $295,092,888,077
2011 $39,927,125,962 $279,356,499,090
2010 $38,443,907,042 $239,807,980,591
2009 $35,399,582,929 $194,150,283,772
2008 $29,118,916,105 $193,617,323,539
2007 $24,827,355,015 $180,941,701,358
2006 $22,022,709,851 $148,627,286,361
2005 $21,497,336,499 $127,807,848,728
2004 $21,159,827,992 $115,033,593,101
2003 $20,082,918,740 $97,646,401,096
2002 $19,152,238,806 $92,538,372,870
2001 $17,649,751,244 $89,793,790,670
2000 $17,260,364,842 $96,076,539,926
1999 $17,391,056,369 $86,286,849,755
1998 $17,247,179,006 $85,728,207,782
1997 $15,751,867,489 $100,123,787,215
1996 $13,690,217,334 $96,293,086,513
1995 $11,718,795,529 $87,812,540,788
1994 $9,599,127,050 $73,688,724,431
1993 $7,941,744,492 $60,603,815,716
1992 $5,843,579,161 $52,131,320,033
1991 $4,690,415,093 $45,466,164,978
1990 $2,838,485,354 $36,144,336,769
1989 $2,717,998,688 $30,465,364,739
1988 $3,313,540,068 $25,371,462,488
1987 - $20,919,215,578
1986 - $18,586,746,057
1985 - $19,156,532,746
1984 - $19,749,361,098
1983 - $17,784,112,150
1982 - $16,084,252,378
1981 - $14,175,228,844
1980 - $11,896,256,783
1979 - $9,296,921,724
1978 - $7,517,176,355
1977 - $6,618,585,074
1976 - $6,327,077,974
1975 - $5,633,673,930
1974 - $5,221,534,956
1973 - $3,696,213,333
1972 - $2,721,440,981
1971 - $2,263,785,444
1970 - $1,920,574,150
1969 - $1,659,893,768
1968 - $1,425,706,091
1967 - $1,238,035,816
1966 - $1,096,425,608
1965 - $974,644,096
1964 - $894,153,311
1963 - $917,608,012
1962 - $826,239,212
1961 - $764,629,788
1960 - $704,751,700

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

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

GDP per capita in Lebanon vs Singapore by year

Lebanon
GDP per capita

GDP per capita, PPP
Singapore
GDP per capita

GDP per capita, PPP
1x
Year Current $
Lebanon Singapore
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $90,674 $150,689
2023 $3,478 $12,575 $85,412 $143,786
2022 $3,654 $12,293 $90,299 $143,095
2021 $4,045 $11,600 $80,056 $132,617
2020 $5,561 $16,260 $61,410 $101,518
2019 $8,906 $21,710 $65,952 $105,335
2018 $9,175 $21,985 $66,882 $103,963
2017 $8,608 $20,964 $61,236 $95,744
2016 $8,089 $18,941 $57,006 $89,902
2015 $7,714 $17,046 $55,646 $87,156
2014 $7,578 $16,140 $57,565 $84,555
2013 $8,162 $16,316 $56,967 $83,088
2012 $8,407 $16,121 $55,548 $82,108
2011 $7,835 $14,975 $53,891 $80,052
2010 $7,626 $14,704 $47,237 $75,401
2009 $7,091 $13,586 $38,927 $66,213
2008 $5,912 $12,416 $40,009 $67,735
2007 $5,125 $11,356 $39,433 $68,805
2006 $4,635 $10,312 $33,768 $64,061
2005 $4,602 $10,020 $29,961 $58,822
2004 $4,601 $9,609 $27,608 $54,384
2003 $4,438 $8,914 $23,730 $48,778
2002 $4,291 $8,586 $22,160 $45,083
2001 $4,010 $8,289 $21,700 $43,109
2000 $3,987 $7,938 $23,853 $43,781
1999 $4,087 $7,793 $21,797 $39,949
1998 $4,125 $7,861 $21,829 $37,560
1997 $3,834 $7,632 $26,376 $39,286
1996 $3,393 $7,560 $26,233 $36,873
1995 $2,959 $6,796 $24,915 $35,090
1994 $2,468 $6,367 $21,552 $33,058
1993 $2,079 $5,871 $18,290 $30,062
1992 $1,559 $5,279 $16,136 $27,022
1991 $1,278 $4,527 $14,502 $25,530
1990 $790 $2,990 $11,862 $23,815
1989 $771 - $10,395 -
1988 $959 - $8,914 -
1987 - - $7,539 -
1986 - - $6,800 -
1985 - - $7,002 -
1984 - - $7,228 -
1983 - - $6,633 -
1982 - - $6,078 -
1981 - - $5,597 -
1980 - - $4,928 -
1979 - - $3,901 -
1978 - - $3,194 -
1977 - - $2,846 -
1976 - - $2,759 -
1975 - - $2,490 -
1974 - - $2,342 -
1973 - - $1,685 -
1972 - - $1,264 -
1971 - - $1,071 -
1970 - - $926 -
1969 - - $813 -
1968 - - $709 -
1967 - - $626 -
1966 - - $567 -
1965 - - $517 -
1964 - - $486 -
1963 - - $511 -
1962 - - $472 -
1961 - - $449 -
1960 - - $428 -

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

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

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $90,674 in Singapore, ranking 7/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 123rd at $12,575, while Singapore ranks 2nd at $150,689.

Economic indicators

Lebanon Singapore
Gross domestic product
$20.1B
2023
$547B
2024
GDP rank
128/197
2023
28/197
2024
GDP growth
-0.76%
2022-2023
4.39%
2023-2024
GDP per capita
$3,478
2023
$90,674
2024
GDP per capita rank
135/197
2023
7/197
2024
GDP per capita, PPP
$12,575
2023
$150,689
2024
GDP per capita PPP rank
123/197
2023
2/197
2024
Government debt
$38.7B
2023
$950B
2024
Debt-to-GDP ratio
163.8%
2024
173.5%
2024
Government debt per person
$6,704
2023
$157,326
2024
Government debt per person rank
70/185
2023
1/185
2024
Average annual personal income after taxes
$3,560
2026
$52,793
2026
Market capitalization of domestic companies
$10.6B
2021
$638B
2024
Number of millionaires n/a
331,000
2025
Number of billionaires
6
2025
49
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
14.6%
2024
Consumer prices inflation
45.2%
2023-2024
2.39%
2023-2024
Central bank interest rate
20%
2023
n/a
Unemployment rate
11.3%
2019
2.74%
2024
Population
5906622
6125852

Spending and national debt comparison by year

Lebanon
Spending

Debt
Singapore
Spending

Debt
1x
Year % of GDP
Lebanon Singapore
Government spending Government debt Government spending Government debt
2024 16.5% 163.8% 14.6% 173.5%
2023 14.9% 192.8% 14.8% 172.8%
2022 13.4% 244.6% 15% 154.3%
2021 10.9% 358% 15.6% 141.7%
2020 23.2% 148.7% 24.1% 148.2%
2019 31.3% 172.1% 14% 127.9%
2018 32.3% 155.1% 13.9% 109.4%
2017 30.6% 150% 13.6% 107.6%
2016 28.3% 146.4% 15.3% 106.3%
2015 26.7% 140.8% 14.4% 102.2%
2014 28.8% 138.4% 12.6% 97.7%
2013 28.9% 135.4% 10.9% 98.2%
2012 30.2% 131.1% 9.83% 106.7%
2011 28.8% 134.4% 9.66% 103.1%
2010 29.2% 136.8% 10.2% 98.7%
2009 32.1% 144.5% 15.9% 101.7%
2008 34.3% 161.5% 14% 97.9%
2007 35.2% 169.3% 9.01% 87.8%
2006 36.1% 183.3% 12.3% 86.5%
2005 31.4% 178.9% 12.4% 92.7%
2004 33.3% 169.5% 14.1% 95.7%
2003 36.4% 171.3% 15.6% 99.1%
2002 36.8% 163.1% 15.9% 96.3%
2001 38.9% 163.1% 18.2% 94.5%
2000 42.8% 148.1% 16.1% 82.3%
1999 35.6% 130.2% 15.9% 85.3%
1998 34.7% 108.2% 18.1% 84.6%
1997 40.5% 100.2% 14.5% 70.8%
1996 43.6% 101.2% 18.1% 71.3%
1995 31.1% 79.6% 13.8% 69.8%
1994 47.3% 71.5% 11.7% 70.7%
1993 23% 50.5% 14.5% 71.2%
1992 36.1% 51.7% 14.5% 79%
1991 35.6% 67.1% 15.9% 76.4%
1990 40% 99.7% 15.1% 73.5%

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/singapore | CC BY

In 2024, Lebanon's government spending was $2.99B, accounting for 16.5% of its GDP, while Singapore spent $79.7B, or 14.6% of GDP.

Debt-to-GDP ratio is 163.8% in Lebanon and 173.5% in Singapore, ranking 6/185 and 4/185, respectively.

Government deficit by year

Deficit/surplus
Lebanon

Singapore
1x
Year Deficit/surplus, % of GDP
Lebanon Singapore
2024 -0.19% 4.44%
2023 -1.7% 3.47%
2022 -7.77% 1.21%
2021 -2.67% 1.13%
2020 -7.37% -6.73%
2019 -10.5% 3.77%
2018 -11.3% 3.68%
2017 -8.65% 5.24%
2016 -8.88% 3.25%
2015 -7.48% 2.86%
2014 -6.22% 4.6%
2013 -8.82% 5.96%
2012 -8.43% 7.34%
2011 -5.94% 7.96%
2010 -7.47% 5.68%
2009 -8.1% -0.09%
2008 -9.86% 3.59%
2007 -10.9% 7.12%
2006 -10.6% 2.16%
2005 -8.57% 2.56%
2004 -9.83% 2.06%
2003 -14% 0.68%
2002 -16.2% 2.23%
2001 -21% 1.2%
2000 -23.9% 4.59%
1999 -16.7% 5.2%
1998 -17.3% 2.41%
1997 -24.5% 5.66%
1996 -25.7% 1.98%
1995 -13.6% 4.8%
1994 -29.1% 7.9%
1993 -7.19% 4.36%
1992 -24% 2.7%
1991 -19.5% 0.68%
1990 -30.2% 1.97%

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

GeoRank.org/economy/lebanon/singapore | 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 Singapore's surplus of $17.5B, or 3.47% of GDP.

Over the past 34 years, Lebanon recorded a fiscal deficit in 34 of those years, while Singapore ran a deficit in 2 years. On average, Lebanon posted an annual deficit equal to 13.1% of GDP, compared to surplus of 3.33% of GDP for Singapore.

Inflation comparison by year

Inflation
Lebanon

Singapore
1x
Year Consumer prices inflation
Lebanon Singapore
2024 45.2% 2.39%
2023 221.3% 4.83%
2022 171.2% 6.13%
2021 154.8% 2.32%
2020 84.9% -0.17%
2019 2.9% 0.57%
2018 6.1% 0.44%
2017 4.5% 0.58%
2016 -0.8% -0.53%
2015 -3.8% -0.52%
2014 1.1% 1.03%
2013 5.6% 2.36%
2012 6.6% 4.58%
2011 5% 5.25%
2010 4% 2.83%
2009 1.2% 0.59%
2008 10.7% 6.64%
2007 4.1% 2.11%
2006 4.1% 0.97%
2005 -1.4% 0.43%
2004 1.7% 1.66%
2003 1.3% 0.51%
2002 1.8% -0.39%
2001 -0.4% 1%
2000 -0.4% 1.36%
1999 0.2% 0.02%
1998 4.5% -0.27%
1997 7.7% 2%

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/singapore | CC BY

Over the past 28 years, Lebanon has recorded an average annual inflation rate of 26.6%, compared with 1.74% in Singapore. In 2024, inflation was 45.2% in Lebanon and 2.39% in Singapore.

Top exports between countries

Lebanon
Export category Export value
Precious metals & jewellery $3.88M
Machinery & equipment $2.1M
Chemicals & pharma $595K
Processed food, beverages & tobacco $546K
Metals $285K
Textiles & consumer goods $185K
Wood & paper products $163K
Raw agricultural goods $139K
Miscellaneous $4K
Raw materials & minerals $2K
Singapore
Export category Export value
Processed food, beverages & tobacco $5.88M
Machinery & equipment $5.23M
Chemicals & pharma $2.8M
Miscellaneous $2.64M
Wood & paper products $2.55M
Textiles & consumer goods $1.09M
Raw materials & minerals $580K
Animal & marine products $486K
Raw agricultural goods $255K
Precious metals & jewellery $222K

Balance of trade

Lebanon Singapore
Current account balance
-$5.64B
2023
$96B
2024
Current account balance ranking
168/190
2023
8/190
2024
Current account balance, % of GDP
-28.1%
2023
+17.5%
2024
Goods imports
$16.7B
2023
$435B
2024
Goods exports
$3.85B
2023
$583B
2024
Service imports
$6.63B
2023
$351B
2024
Service exports
$7.92B
2023
$396B
2024
Imports of goods and services, % of GDP
73.7%
2023
143.6%
2024
Exports of goods and services, % of GDP
30.6%
2023
178.8%
2024

Economic freedom indices

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

Lebanon Singapore
Economic freedom 43.1 84.4
Economic freedom ranking 183/197 1/197
Property rights 21.8 89.2
Government integrity 23.4 86.1
Judicial effectiveness 23.8 58.3
Tax burden 90.3 89.5
Government spending 93.3 93.4
Fiscal health 63.4 80
Business freedom 47.6 90.6
Labor freedom 48.4 77
Monetary freedom 0 83.5
Trade freedom 65.6 95
Investment freedom 20 90
Financial freedom 20 80

Economic freedom comparison by year

Lebanon
Singapore
1x
Year Economic freedom index
Lebanon Singapore
2026 43.1 84.4
2025 44.1 84.1
2024 48.3 83.5
2023 45.6 83.9
2022 47.3 84.4
2021 51.4 89.7
2020 51.7 89.4
2019 51.1 89.4
2018 53.2 88.8
2017 53.3 88.6
2016 59.5 87.8
2015 59.3 89.4
2014 59.4 89.4
2013 59.5 88
2012 60.1 87.5
2011 60.1 87.2
2010 59.5 86.1
2009 58.1 87.1
2008 60 87.3
2007 60.4 87.1
2006 57.5 88
2005 57.2 88.6
2004 56.9 88.9
2003 56.7 88.2
2002 57.1 87.4
2001 61 87.8
2000 56.1 87.7
1999 59.1 86.9
1998 59 87
1997 63.9 87.3
1996 63.2 86.5
1995 - 86.3

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

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

The Economic Freedom Index for Lebanon is 43.1, ranking 183/197, compared to 84.4 for Singapore, ranking 1/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Lebanon Singapore
Services, % of GDP
42.4%
2023
73%
2024
Industry, % of GDP
2.09%
2023
21.4%
2024
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
0.03%
2024
GNI, Atlas method
$21.4B
2023
$451B
2024
GNI per capita, PPP
$12,420
2023
$126,190
2024
Total reserves including gold
$33.3B
2024
$384B
2024
Total reserves ranking
54/177
2024
9/177
2024
Net foreign direct investment
-$583M
2023
-$96.7B
2024
Net inflows of foreign direct investment
$1.84B
2024
$152B
2024
Net outflows of foreign direct investment
$391M
2024
$55.3B
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
22.2%
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/singapore | 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 (2022–2024, 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.