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Economy of Lebanon vs Syria compared: GDP & Debt

Updated on by Georank team

Lebanon has a GDP of $20.1B compared to $20B for Syria, ranking 128/197 and 129/197 by economy size, respectively.

Lebanon has $38.6B in government debt (149.1% of GDP), compared to $18.4B (30% of GDP) in Syria.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Lebanon
GDP, current $

GDP, constant 2015 $
Syria
GDP, current $

GDP, constant 2015 $
Year GDP
Lebanon Syria
Current $ Constant $ Current $ Constant $
1960 - - $857,704,413 $2,416,812,218
1961 - - $945,244,972 $2,678,627,030
1962 - - $1,110,565,881 $3,335,461,124
1963 - - $1,200,447,408 $3,046,852,122
1964 - - $1,339,494,267 $3,329,336,867
1965 - - $1,472,036,540 $3,405,890,769
1966 - - $1,342,287,553 $3,145,031,364
1967 - - $1,580,229,799 $3,404,738,073
1968 - - $1,753,746,430 $3,531,703,487
1969 - - $2,245,011,515 $4,194,530,603
1970 - - $2,140,384,010 $4,119,161,060
1971 - - $2,589,851,325 $4,488,065,486
1972 - - $3,059,681,698 $5,639,735,188
1973 - - $3,239,487,516 $5,049,263,095
1974 - - $5,159,557,148 $6,351,759,533
1975 - - $6,826,980,444 $7,390,372,324
1976 - - $7,633,528,867 $8,296,021,554
1977 - - $7,696,011,396 $8,146,733,163
1978 - - $9,275,200,458 $8,956,729,450
1979 - - $9,929,681,529 $9,036,264,207
1980 - - $13,062,420,382 $10,347,255,986
1981 - - $15,518,201,335 $11,149,721,268
1982 - - $16,298,929,011 $11,460,696,656
1983 - - $17,589,277,143 $11,726,623,777
1984 - - $17,503,078,174 $10,834,153,805
1985 - - $16,403,539,893 $11,847,234,654
1986 - - $13,293,205,278 $10,905,032,498
1987 - - $11,356,215,543 $11,088,485,935
1988 $3,313,540,068 $13,590,690,652 $10,577,041,645 $13,085,648,672
1989 $2,717,998,688 $7,821,290,497 $9,853,395,762 $11,299,813,273
1990 $2,838,485,354 $9,896,526,026 $12,308,624,418 $11,722,376,107
1991 $4,690,415,093 $14,790,098,776 $12,981,833,333 $12,621,068,342
1992 $5,843,579,161 $17,221,346,343 $13,253,565,861 $14,258,373,042
1993 $7,941,744,492 $19,075,339,625 $13,695,962,055 $15,135,390,679
1994 $9,599,127,050 $20,621,442,059 $10,122,020,000 $16,227,110,829
1995 $11,718,795,529 $21,951,290,517 $11,396,706,587 $17,367,323,301
1996 $13,690,217,334 $24,428,699,054 $13,789,560,878 $19,073,761,706
1997 $15,751,867,489 $24,686,413,686 $14,505,233,463 $20,031,990,206
1998 $17,247,179,006 $25,591,349,425 $15,200,846,154 $21,391,221,744
1999 $17,391,056,369 $25,456,845,224 $15,873,875,969 $20,631,095,403
2000 $17,260,364,842 $25,798,443,406 $18,937,052,543 $20,770,487,870
2001 $17,649,751,244 $26,789,018,311 $20,237,024,725 $20,988,014,510
2002 $19,152,238,806 $27,706,046,545 $20,669,357,462 $21,818,055,209
2003 $20,082,918,740 $28,600,147,894 $21,828,144,686 $23,389,922,826
2004 $21,159,827,992 $30,510,478,932 $25,086,950,495 $25,004,519,711
2005 $21,497,336,499 $31,329,923,063 $28,858,965,517 $26,558,570,073
2006 $22,022,709,851 $31,815,384,921 $33,751,788,856 $27,898,767,456
2007 $24,827,355,015 $34,777,595,316 $40,465,318,382 $29,481,908,620
2008 $29,118,916,105 $37,931,620,044 $52,557,913,569 $30,801,717,185
2009 $35,399,582,929 $41,812,842,420 $54,111,735,629 $32,622,727,886
2010 $38,443,907,042 $45,147,473,284 $61,390,830,875 $34,316,469,201
2011 $39,927,125,962 $45,539,055,324 $67,539,428,159 $35,294,489,549
2012 $44,016,799,516 $46,707,037,069 $43,190,318,033 $25,998,267,919
2013 $46,880,103,081 $48,494,923,363 $21,361,254,635 $19,160,700,666
2014 $48,095,213,747 $49,699,566,407 $21,502,061,466 $17,185,167,298
2015 $49,929,337,837 $49,929,337,837 $16,466,863,117 $16,466,863,117
2016 $51,147,308,774 $50,705,514,063 $12,597,854,877 $15,412,063,258
2017 $53,027,680,686 $51,163,399,288 $16,369,843,352 $15,300,590,613
2018 $54,901,519,156 $50,199,119,756 $21,497,782,868 $15,513,754,781
2019 $51,605,959,131 $46,727,888,411 $22,583,045,060 $15,703,131,996
2020 $31,712,128,254 $36,728,167,163 $12,047,752,036 $15,593,656,904
2021 $23,131,941,557 $34,156,740,537 $14,353,205,678 $15,882,796,970
2022 $20,992,421,949 $33,944,395,264 $23,622,827,080 $15,999,183,136
2023 $20,078,620,357 $33,686,219,465 $19,993,439,950 $15,806,030,725

Economic indicators

Lebanon Syria
Gross domestic product
$20.1B
2023
$20B
2023
GDP rank
128/197
2023
129/197
2023
GDP growth
-4.35%
2022-2023
-15.4%
2022-2023
GDP per capita
$3,478
2023
$847
2023
GDP per capita rank
135/197
2023
184/197
2023
GDP per capita, PPP
$12,575
2023
$4,650
2023
Government debt
$38.6B
2023
$18.4B
2010
Debt-to-GDP ratio
149.1%
2025
30%
2010
Government debt per person
$6,680
2023
$820
2010
Government debt per person rank
70/185
2023
148/185
2010
Average annual personal income after taxes
$3,779
2025
$731
2025
Market capitalization of domestic companies
$10.6B
2021
n/a
Number of billionaires
6
2025
n/a
Income share by richest 10%
25.1%
2022
21.1%
2022
Income share by poorest 10%
2.8%
2022
3.8%
2022
Government expenditure, % of GDP
18.3%
2025
28.6%
2010
Consumer prices inflation
45.2%
2023-2024
13.4%
2018-2019
Central bank interest rate
20%
2023
n/a
Unemployment rate
11.3%
2019
8.61%
2010
Population
5888008
26304877

GDP per capita in Lebanon vs Syria

Lebanon's GDP per capita is $3,478, ranking 135/197, compared to $847 in Syria, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Lebanon ranks 121st at $12,575, while Syria ranks 160th at $4,650.

Lebanon
GDP per capita

GDP per capita, PPP
Syria
GDP per capita

GDP per capita, PPP
Year Current $
Lebanon Syria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $183.5 -
1961 - - $196.3 -
1962 - - $223.9 -
1963 - - $234.9 -
1964 - - $254.2 -
1965 - - $270.8 -
1966 - - $239.3 -
1967 - - $272.9 -
1968 - - $293.3 -
1969 - - $364 -
1970 - - $335 -
1971 - - $393 -
1972 - - $448 -
1973 - - $459 -
1974 - - $707 -
1975 - - $904 -
1976 - - $976 -
1977 - - $951 -
1978 - - $1,108 -
1979 - - $1,146 -
1980 - - $1,458 -
1981 - - $1,676 -
1982 - - $1,703 -
1983 - - $1,776 -
1984 - - $1,706 -
1985 - - $1,544 -
1986 - - $1,208 -
1987 - - $997 -
1988 $959 - $898 -
1989 $771 - $809 -
1990 $790 $2,990 $978 -
1991 $1,278 $4,527 $1,000 -
1992 $1,559 $5,279 $990 -
1993 $2,079 $5,871 $993 -
1994 $2,468 $6,367 $712 -
1995 $2,959 $6,796 $780 -
1996 $3,393 $7,560 $918 -
1997 $3,834 $7,632 $941 -
1998 $4,125 $7,861 $961 -
1999 $4,087 $7,793 $978 -
2000 $3,987 $7,938 $1,138 -
2001 $4,010 $8,289 $1,187 -
2002 $4,291 $8,586 $1,183 -
2003 $4,438 $8,914 $1,220 -
2004 $4,601 $9,609 $1,368 -
2005 $4,602 $10,020 $1,534 -
2006 $4,635 $10,312 $1,719 -
2007 $5,125 $11,356 $1,938 -
2008 $5,912 $12,416 $2,429 -
2009 $7,091 $13,586 $2,462 -
2010 $7,626 $14,704 $2,731 -
2011 $7,835 $14,975 $2,952 -
2012 $8,407 $16,121 $1,898 -
2013 $8,162 $16,316 $986 -
2014 $7,578 $16,140 $1,061 -
2015 $7,714 $17,046 $848 -
2016 $8,089 $18,941 $656 -
2017 $8,608 $20,964 $852 $3,265
2018 $9,175 $21,985 $1,098 $3,456
2019 $8,906 $21,710 $1,110 $3,502
2020 $5,561 $16,260 $572 $3,738
2021 $4,045 $11,600 $664 $4,593
2022 $3,654 $12,293 $1,052 $4,772
2023 $3,478 $12,575 $847 $4,650

Spending and national debt comparison

In 2023, Lebanon's government spending was $2.67B, accounting for 18.3% of its GDP, while Syria's spent $17.6B, or 28.6% of GDP.

Debt-to-GDP ratio is 149.1% in Lebanon and 30% in Syria, ranking 6/185 and 159/185, respectively.

Lebanon
Government spending

Government debt
Syria
Government spending

Government debt
Year % of GDP
Lebanon Syria
Government spending Government debt Government spending Government debt
1990 40% 99.7% 28.3% 189.8%
1991 35.6% 67.1% 34.3% 182.4%
1992 36.1% 51.7% 34.2% 173.6%
1993 23% 50.5% 29.4% 171.9%
1994 47.3% 71.5% 30.3% 163%
1995 31.1% 79.6% 29.8% 152.6%
1996 43.6% 101.2% 27.7% 141.5%
1997 40.5% 100.2% 29% 147.6%
1998 34.7% 108.2% 28.8% 151.2%
1999 35.6% 130.2% 28% 147.7%
2000 42.8% 148.1% 27.4% 152.1%
2001 38.9% 163.1% 28% 144.5%
2002 36.8% 163.1% 28.5% 132.4%
2003 36.4% 171.3% 32.6% 133.4%
2004 33.3% 169.5% 31.3% 113%
2005 31.4% 178.9% 28.2% 50.7%
2006 36.1% 183.3% 26.3% 45%
2007 35.2% 169.3% 25.7% 42.7%
2008 34.3% 161.5% 22.9% 37.3%
2009 32.1% 144.5% 26.7% 31.2%
2010 29.2% 136.8% 28.6% 30%
2011 28.8% 134.4% - -
2012 30.2% 131.1% - -
2013 28.9% 135.4% - -
2014 28.8% 138.4% - -
2015 26.7% 140.8% - -
2016 28.3% 146.4% - -
2017 30.6% 150% - -
2018 32.3% 155.1% - -
2019 31.3% 172.1% - -
2020 23% 148.7% - -
2021 10.2% 361% - -
2022 12.2% 246.5% - -
2023 13.3% 192.1% - -
2024 16.1% 164.1% - -
2025 18.3% 149.1% - -

Government deficit by year

In 2010, Lebanon's government deficit, the difference between spending and revenue, was -$2.87B, equivalent to -7.47% of GDP. This compares to Syria's deficit of -$4.78B, or -7.79% of GDP.

Over the past 21 years, Lebanon recorded a fiscal deficit in 21 of those years, while Syria ran a deficit in 20 years. On average, Lebanon posted an annual deficit equal to -16.6% of GDP, compared to deficit of -3.4% of GDP for Syria.

Deficit/surplus
Lebanon

Syria
Year Deficit/surplus, % of GDP
Lebanon Syria
1990 -30.2% -3.92%
1991 -19.5% -6.57%
1992 -24% -7.26%
1993 -7.19% -4.96%
1994 -29.1% -6%
1995 -13.6% -3.81%
1996 -25.7% -2.83%
1997 -24.5% -1.78%
1998 -17.3% -2.81%
1999 -16.7% -1.47%
2000 -23.9% -1.36%
2001 -21% 2.3%
2002 -16.2% -2.02%
2003 -14% -2.7%
2004 -9.83% -4.18%
2005 -8.57% -4.41%
2006 -10.6% -1.12%
2007 -10.9% -2.99%
2008 -9.86% -2.86%
2009 -8.1% -2.89%
2010 -7.47% -7.79%
2011 -5.94% -
2012 -8.43% -
2013 -8.82% -
2014 -6.22% -
2015 -7.48% -
2016 -8.88% -
2017 -8.65% -
2018 -11.3% -
2019 -10.5% -
2020 -7.15% -
2021 -1.98% -
2022 -6.5% -
2023 -0.11% -
2024 0.36% -
2025 0.01% -

Inflation comparison by year

Over the past 24 years, Lebanon has recorded an average annual inflation rate of 3.13%, compared with 11.3% in Syria. In 2019, inflation was 45.2% in Lebanon and 13.4% in Syria.

Inflation
Lebanon

Syria
Year Inflation
Lebanon Syria Lebanon Syria
1996 8.9% 8.25%
1997 7.7% 1.89%
1998 4.5% -0.8%
1999 0.2% -3.7%
2000 -0.4% -3.85%
2001 -0.4% 3%
2002 1.8% -0.13%
2003 1.3% 5.8%
2004 1.7% 4.43%
2005 -1.4% 7.24%
2006 4.1% 10%
2007 4.1% 3.91%
2008 10.7% 15.7%
2009 1.2% 2.92%
2010 4% 4.4%
2011 5% 4.75%
2012 6.6% 36.7%
2013 5.6% 40%
2014 1.1% 10.9%
2015 -3.8% 38.5%
2016 -0.8% 47.7%
2017 4.5% 18.1%
2018 6.1% 0.94%
2019 2.9% 13.4%
2020 84.9% -
2021 154.8% -
2022 171.2% -
2023 221.3% -
2024 45.2% -

Top exports between countries

Lebanon
Export category Export value
Machinery & equipment $38.1M
Raw agricultural goods $31M
Chemicals & pharma $24.2M
Processed food, beverages & tobacco $10.7M
Wood & paper products $7.04M
Textiles & consumer goods $5.06M
Raw materials & minerals $4.37M
Metals $3.84M
Miscellaneous $1.54M
Animal & marine products $338K
Syria
Export category Export value
Raw materials & minerals $193M
Processed food, beverages & tobacco $47.6M
Animal & marine products $41.2M
Chemicals & pharma $39.8M
Raw agricultural goods $37.3M
Metals $35.9M
Textiles & consumer goods $15.9M
Wood & paper products $13.9M
Machinery & equipment $11M
Miscellaneous $869K

Balance of trade

Lebanon Syria
Current account balance
-$5.64B
2023
-$367M
2010
Current account balance ranking
168/189
2023
100/189
2010
Current account balance, % of GDP
-28.1%
2023
-0.6%
2010
Goods imports
$16.7B
2023
$15.9B
2010
Goods exports
$3.85B
2023
$12.3B
2010
Service imports
$6.63B
2023
$3.53B
2010
Service exports
$7.92B
2023
$7.33B
2010
Imports of goods and services, % of GDP
73.7%
2023
28.8%
2022
Exports of goods and services, % of GDP
30.6%
2023
6.81%
2022

Economic freedom indices

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

Lebanon Syria
Economic freedom 44.1 51.2
Economic freedom ranking 181/197 155/197
Property rights 22.3 2.6
Government integrity 24.5 3.3
Judicial effectiveness 22.6 3.7
Tax burden 90.3 86.2
Government spending 95.6 78.5
Fiscal health 63.6 13.8
Business freedom 47.8 35
Labor freedom 57.1 46.5
Monetary freedom 0 60.6
Trade freedom 65.4 47
Investment freedom 20 0
Financial freedom 20 20

Economic freedom by year comparison

The Economic Freedom Index for Lebanon is 44.1, ranking 181/197, compared to 51.2 for Syria, ranking 155/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Lebanon
Syria
Year Economic freedom index
Lebanon Syria
1996 63.2 42.3
1997 63.9 43
1998 59 42.2
1999 59.1 39
2000 56.1 37.2
2001 61 36.6
2002 57.1 36.3
2003 56.7 41.3
2004 56.9 40.6
2005 57.2 46.3
2006 57.5 51.2
2007 60.4 48.3
2008 60 47.2
2009 58.1 51.3
2010 59.5 49.4
2011 60.1 51.3
2012 60.1 51.2
2013 59.5 -
2014 59.4 -
2015 59.3 -
2016 59.5 -
2017 53.3 -
2018 53.2 -
2019 51.1 -
2020 51.7 -
2021 51.4 -
2022 47.3 -
2023 45.6 -
2024 48.3 -
2025 44.1 -

More economic indicators

Lebanon Syria
Services, % of GDP
42.4%
2023
44.9%
2022
Industry, % of GDP
2.09%
2023
12%
2022
Agriculture, forestry, and fishing, % of GDP
0.97%
2023
43.1%
2022
GNI, Atlas method
$21.6B
2023
$18.2B
2023
GNI per capita, PPP
$12,530
2023
$4,480
2023
Total reserves including gold
$33.3B
2024
$20.6B
2010
Total reserves ranking
54/177
2024
62/177
2010
Net foreign direct investment
-$583M
2023
-$1.47B
2010
Net inflows of foreign direct investment
$1.84B
2024
$804M
2011
Net outflows of foreign direct investment
$391M
2024
$0
1989
Servicing debt to the IMF, % of GNI
21.8%
2023
0.15%
2023
Poverty at national poverty lines
27.4%
2012
35.2%
2007
Gross capital formation, % of GDP
1.9%
2023
16%
1969

GDP per capita map

GDP per capita

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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.