Lebanon

lebanonCapital City: Beirut
Population (Millions): 4

ECONOMIC OVERVIEW

GDP Per Capita: US$ 14200
GDP per Sector:
Agriculture – 5.1 %
Industry – 15.9 %
Services – 79%
Currency: LBP
Ex.Rates: 1507
Big Cities (>100,000): Beirut
Urban Population: 87%
Languages: Arabic, French, others

Background:Lebanon is a Middle Eastern country in the west of the Asian continent that shares its borders with Syria, Israel and Mediterranean Sea. Most of Lebanon’s land is mountainous. However, the Beqaa valley, with its fertile soil, remains the source for agricultural products. Lebanon has an area of 10,452 square km and population of 4,224,000.

The Lebanese economy is noted for its resilience, having withstood wars and invasions with Israel as well as internal sectarian clashes and at times dominating influence from Syria. It is this resilience that helped Lebanon achieve 9% growth during the Great Financial Crisis. The growth was nurtured by controlled banking regulations that restricted credit and therefore, its impact during the recession.