GFmag Online Readers Survey 2012
Lebanon


Lebanon Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Lebanon; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bankCentral Bank of Lebanon
International ReservesUS$ 44.476 billion (Source: World Bank; Data updated: November 2010)
Gross Domestic Product - GDPUS$ 42.539 billion (2009 estimate)
GDP (Purchasing Power Parity)61.581 billion of International dollars (2009 estimate)
Real GDP growth
20002001200220032004200520062007
1.7%4%3.4%3.2%7.5%1%0.6%7.5%
2008200920102011*
9.3%8.5%7.5%2.5%

*Estimate

GDP per capita - current pricesUS$ 10,747 (2008 estimate)
GDP per capita - PPP$15,557 International Dollars (2008 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.12%0.05%0.07%0.08%0.08%

**Forecast

GDP - composition by sector
  • agriculture: 4.5% 
  • industry: 15.9% 
  • services: 79.7% (2011 estimate)

    • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP)N/A

(Data released on November 2010)

Inflation
2008200920102011*
10.8%(2008)1.2%4.5%6.5%

*Estimate

Unemployment rate
2008200920102011*
N/AN/AN/A(2009)N/A

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
167.8%157.1%146.4%136.7%133.8%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
-10.8%-9.6%-8.1%-8.7%-9.6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B/Positive/B

Moody's rating: B1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$10.858 billionUS$9.641 billionUS$12.893 billion
Largest companies in LebanonBank Audi (Regional Banks), Blom Bank (Regional Banks)
(2011)
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -5.5 billion (2009 estimate)(After 2008)
Current account balance by percentage of GDP-12.9% of GDP (2009 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

25.5% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.03%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.41%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$5.187 billion f.o.b. (2010 estimate)
Export commoditiesjewelry, base metals, chemicals, miscellaneous consumer goods, fruit and vegetables, tobacco, construction minerals, electric power machinery and switchgear, textile fibers, paper
Total importsUS$16.1 billion f.o.b. (2008 estimate)
Import commoditiespetroleum products, cars, medicinal products, clothing, meat and live animals, consumer goods, paper, textile fabrics, tobacco, electrical machinery and equipment, chemicals
Exports - major partnersSyria 25.2%, UAE 11.8%, Switzerland 8.2%, Saudi Arabia 5.6% (2007)
Imports - major partnersSyria 12.1%, Italy 8.5%, France 8.3%, US 7%, China 5.9%, Germany 5.3%, Saudi Arabia 4.8% (2007)
FDI inflows
200820092010
US$4,333 millionUS$4,804 million(2009)US$4,955 million(2009)
FDI outflows
200820092010
US$987 millionUS$1,126 millionUS$574 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$-233 millionUS$283 million(2009)US$0 million(2009)US$142 million
Cross-border M&A deals worth over $3 billion completed in 2008

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 113 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 103 out of 183 countries(2009)

Registering property: 111 out of 183 countries

Paying Taxes: 36 out of 183 countries

Getting credit: 89 out of 183 countries

Protecting investors: 93 out of 183 countries

Trading across border: 95 out of 183 countries

Enforcing Contracts: 122 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		89

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 89 Score: 60.1 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+2
Total area 10,400 km2 (2006)
CapitalBeirut (2009)
CurrencyLebanese pounds (LBP) (2009)
Government typerepublic (2009)
LanguagesArabic (official), French, English, Armenian
ReligionsMuslim 59.7% (Shia, Sunni, Druze, Isma'ilite, Alawite or Nusayri), Christian 39% (Maronite Catholic, Greek Orthodox, Melkite Catholic, Armenian Orthodox, Syrian Catholic, Armenian Catholic, Syrian Orthodox, Roman Catholic, Chaldean, Assyrian, Copt, Protestant), other 1.3%
Total population
1980199020002010*2015**
2.67 million2.83 million3.56 million3.91 million4.17 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
42.3%73.7%86%87.1%
Population median age27.0 years (2006)
Population growth rate0.7% (2009)
Life expectancy72 years (2007)
Adult literacy57% (2000/2007)
% of population living on less than $2 a dayN/A
Inequality of wealth distribution (Gini index)

N/A

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:5
Civil Liberties:3 (2010)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

89% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population31% (Data were released in 2011 and refer to 2010)
Cost of living index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Beirut: 75th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

4.0773 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2012:
  • COUNTRY WINNERS BLOM Bank (National, 2012)
2011:
  • COUNTRY WINNERS BLOM Bank (National, 2011)
2010:
  • COUNTRY WINNERS BLOM Bank (National, 2010)
2009:
  • COUNTRY WINNERS BLOM Bank (National, 2009)

WORLD'S BEST INTERNET BANKS

2011:
  • REGIONAL WINNERS / Best Consumer Internet Banks Blom Bank (Middle East and Africa, 2011)
  • COUNTRY WINNERS / Best Consumer Internet Banks Blom Bank (National, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Blom Bank (National, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2009)

WORLD'S BEST ISLAMIC FINANCE INSTITUTIONS

2012:
  • REGIONAL WINNERS Al Baraka Bank (Non-GCC Middle East/Africa, 2012)
  • COUNTRY WINNERS BLOM Development Bank (National, 2012)
2011:
  • COUNTRY WINNERS Arab Finance House (National, 2011)
2010:
  • COUNTRY WINNERS Arab Finance House (National, 2010)
2009:
  • COUNTRY WINNERS Arab Finance House (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Bank Audi (National, 2012)
2011:
  • COUNTRY WINNERS Bank Audi (National, 2011)
2010:
  • COUNTRY WINNERS BLOM Bank (National, 2010)
2009:
  • COUNTRY WINNERS BLOM Bank (National, 2009)

WORLD'S BEST SUB CUSTODIANS

2011:
  • COUNTRY WINNERS HSBC (National, 2011)
2010:
  • COUNTRY WINNERS HSBC (National, 2010)
2009:
  • COUNTRY WINNERS HSBC (National, 2009)

WORLD'S BEST INVESTMENT BANKS

2012:
  • COUNTRY WINNERS BankMed (National, 2012)
2011:
  • COUNTRY WINNERS BankMed (National, 2011)
2010:
  • COUNTRY WINNERS BankMed (National, 2010)
2009:
  • COUNTRY WINNERS BankMed (National, 2009)

CENTRAL BANKER REPORT CARD

2011:

TOP 200 EMERGING MARKETS BANKS

2010:
  • OVERALL BIGGEST Bank Audi sal - Audi Saradar Group (Global, 2010)
  • OVERALL BIGGEST BLOM Bank (Global, 2010)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2012:
  • COUNTRY WINNERS BLOM Bank (National, 2012)
2011:
  • COUNTRY WINNERS BLOM Bank (National, 2011)
2010:
  • COUNTRY WINNERS BLOM Bank (National, 2010)
2009:
  • COUNTRY WINNERS BLOM Bank (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE