Lebanon GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Lebanon expanded 1 percent in 2013 from the previous year. GDP Annual Growth Rate in Lebanon averaged 4.55 Percent from 1971 until 2013, reaching an all time high of 83.28 Percent in 1977 and a record low of -56.99 Percent in 1976. GDP Annual Growth Rate in Lebanon is reported by the Banque du Liban.
||1971 - 2013
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. This page provides - Lebanon GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.