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  Lebanon /
Economy
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Key figures
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GDP: US$44.1 billion
GDP/capita: US$11,100 (World rank: 99)
GDP/sector: Agriculture 12%, Industry 21%, Services 67% (2000)
Foreign debts: US$8.4 billion
Foreign debts/GDP: 50%
Foreign debts/capita: US$2,270
Annual growth in GDP: 1% (1999)
Trade balance: -89%
Export products: Foodstuffs and tobacco, textiles, chemicals, precious stones, metal and metal products, electrical equipment and products, jewelry, paper and paper products.
Annual inflation rate: 0.5%
Official unemployment: 18% (1997)
Population below poverty line: 28% (1999)
All figures 2001, unless otherwise stated.
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International rankings
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Corruption: 102 of 180 countries
Investment friendly: 99 of 181 countries
Economic freedom: 95 of 179
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Value of Currency
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1997:
US$1=1,539 Pounds
1998:
US$1=1,516 Pounds
1999-2002:
US$1=1,507 Pounds
Sep. 2008:
US$1=1,502 Pounds
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Despite the civil war, surprisingly much of the economic life survived in Lebanon. The country enjoys today much goodwill from both countries in the west and in the Arab world. Even if much of the country's best people left the country, the will to return and resettle in Lebanon is high.
The restructuring of Beirut takes time, partly because the planned Beirut is a hasty attempt to bring elegance back to Beirut at discount rates. Lebanon is right now in a transitory process, with an extreme deficit on the foreign trade, high unemployment rates, and sometimes little control with investments and profits.
© Copyright 1996-2009 LookLex Ltd. All rights reserved
By: Tore Kjeilen
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