The economy of Lebanon is a developing economy,
with a private sector that contributes to 75% of aggregate demand and a
large banking sector that supports this demand. The IMF forecast a growth of
7% for Lebanon's real GDP in 2010 and 2011 following 9% growth in 2009 and
8.5% in 2008. It has the 54th richest GDP per capita in the world, and it is
forecasted that Lebanon's GDP per capita will reach 20,000 by 2015, making
it one of the strongest economies in the region.
However, the Lebanese economy was badly affected by the Syrian civil war.
The institute of international finance forecasted a GDP growth of 0.7% for
The major industrial sectors include
metal products, banking, agriculture, chemicals, and transport equipment.
Lebanon has a competitive and free market regime and a strong laissez-faire
commercial tradition. The Lebanese economy is service-oriented; main growth
sectors include banking and tourism. There are no restrictions on foreign
exchange or capital movement