on

Economy - overview:
The 1975-91 civil war seriously damaged Lebanon's economic
infrastructure, cut national output by half, and all but ended
Lebanon's position as a Middle Eastern entrepot and banking hub. In
the years since, Lebanon has rebuilt much of its war-torn physical
and financial infrastructure by borrowing heavily - mostly from
domestic banks. In an attempt to reduce the ballooning national
debt, the Rafiq HARIRI government began an austerity program,
reining in government expenditures, increasing revenue collection,
and privatizing state enterprises, but economic and financial reform
initiatives stalled and public debt continued to grow despite
receipt of more than $2 billion in bilateral assistance at the Paris
II Donors Conference. The Israeli-Hizballah conflict caused an
estimated $3.6 billion in infrastructure damage in July and August
2006, and internal Lebanese political tension continues to hamper
economic activity.

GDP (purchasing power parity):
$21.45 billion (2006 est.)

GDP (official exchange rate):
$19.62 billion (2006 est.)

GDP - real growth rate:
-5% (2006 est.)

GDP - per capita (PPP):
$5,500 (2006 est.)

GDP - composition by sector:
agriculture: 7%
industry: 21%
services: 72% (2005)

Labor force:
1.5 million
note: in addition, there are as many as 1 million foreign workers
(2005 est.)

Labor force - by occupation:
agriculture: NA%
industry: NA%
services: NA%

Unemployment rate:
20% (2006 est.)

Population below poverty line:
28% (1999 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
4.8% (2006 est.)

Investment (gross fixed):
17.8% of GDP (2006 est.)

Budget:
revenues: $4.444 billion
expenditures: $7.429 billion; including capital expenditures of $NA
(2006 est.)

Public debt:
209% of GDP (2006 est.)

Agriculture - products:
citrus, grapes, tomatoes, apples, vegetables, potatoes, olives,
tobacco; sheep, goats

Industries:
banking, tourism, food processing, jewelry, cement, textiles,
mineral and chemical products, wood and furniture products, oil
refining, metal fabricating

Industrial production growth rate:
NA%

Electricity - production:
9.762 billion kWh (2004)

Electricity - production by source:
fossil fuel: 97.2%
hydro: 2.8%
nuclear: 0%
other: 0% (2001)