The Gross Domestic Product (GDP) in Lebanon contracted 5 percent in the second quarter of 2019 over the same quarter of the previous year.

GDP Annual Growth Rate in Lebanon averaged 3.36 percent from 1971 until 2019, reaching an all time high of 83.28 percent in the fourth quarter of 1977 and a record low of -56.99 percent in the fourth quarter of 1976. This page provides - Lebanon GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Lebanon GDP Annual Growth Rate - values, historical data and charts - was last updated on October of 2020.

GDP Annual Growth Rate in Lebanon is expected to be -10.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Lebanon to stand at 2.50 in 12 months time. In the long-term, the Lebanon GDP Annual Growth Rate is projected to trend around 2.50 percent in 2021, according to our econometric models.

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Lebanon GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-5.00 -4.00 83.28 -56.99 1971 - 2019 percent Quarterly

Lebanon GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate -5.00 -4.00 83.28 -56.99 percent [+]
GDP 53.37 54.96 54.96 2.72 USD Billion [+]
GDP Constant Prices 64161.72 64398.52 64398.52 10861.73 LBP Billion [+]
GDP per capita 5858.20 6214.40 7761.60 2442.70 USD [+]
GDP per capita PPP 14717.40 15612.00 19499.20 7552.80 USD [+]
Gross Fixed Capital Formation 16173.87 15073.70 16173.87 7742.69 LBP Billion [+]


Lebanon GDP Annual Growth Rate
Lebanon has a services oriented economy, with banking and tourism being the most important sectors. Due to the Israeli occupation and civil wars, the government had to pledge most of its resources towards constant reconstruction efforts, causing a high level of public debt. As a result, Lebanon depends on foreign aid in order to undergo reforms and strengthen the economy. Despite being a relatively free economy, foreign direct investments are hampered by bureaucracy, corruption and high taxes. The civil war in Syria, which started in 2011, has been slowly destabilizing Lebanon, resulting in decreasing foreign direct investments and a significant reduction in tourism.