Lebanon Economy 5-8-24

Lebanon is terrorist infested failed State. Lebanon has maintained its current borders since 1920. 

It was part of the Ottoman Empire until 1918. After 1945, Lebanon formed a Parliament. Terrorists arrived in 1948.

Nominal GDP $92B, per capita GDP $3,283, Population 5,353,930, Debt to GDP 283.2%,

Inflation 222.42%, Unemployment 11.68%, Labor force 45.5%, Urban 90% Rural 10%, Land area is 4,036 sq miles. Urban 90% Rural 10%, Arable land 13.6%.

Imports $206.16M, Exports $89.49M, Trade Deficit $116.67M.

The most recent exports are led by Diamonds ($439M), Polyacetals ($268M), Jewellery ($249M), Gold ($201M), and Scrap Iron ($198M). The most common destination for the exports of Lebanon are United Arab Emirates ($956M), Syria ($370M), Egypt ($234M), United States ($201M), and Turkey ($164M).

Imports The top imports of Lebanon are Refined Petroleum ($5.12B), Cars ($1.13B), Gold ($987M), Broadcasting Equipment ($624M), and Diamonds ($427M), importing mostly from China ($2.8B), Turkey ($2.69B), Greece ($1.78B), United Arab Emirates ($1.41B), and Italy ($1.08B).

Lebanon has no gold or diamond mines. The imports and exports listed above are transfers from S Africa to other markets.

US aid $157M, EU aid $67M, UN aid is through LCRP. They need $3.59B to survive.

The economy of Lebanon has been experiencing a large-scale multi-dimensional crisis since 2019, including a banking collapse, the Lebanese liquidity crisis and a sovereign default. It is classified as a developing, lower-middle-income economy.

The 2023 Lebanon Crisis Response Plan (LCRP) brings together 118 partner organizations to assist more than 3.2 million crisis-affected people living in Lebanon. $3.59 billion is required to meet urgent needs and provide protection and immediate relief assistance to 1.5 million displaced Syrians, 1.5 million vulnerable Lebanese, 31,400 Palestinian refugees from Syria, and 180,000 Palestine refugees in Lebanon, while seeking to mitigate the impacts of the Syria crisis on Lebanon’s infrastructure, economy and public institutions.

Since 2015, Lebanon has received over $9.3 billion in support for vulnerable people under the LCRP. The assistance made possible by donor contributions and implemented by humanitarian, development, and government partners, along with the exceptional hospitality of Lebanese communities, has brought vitally needed support across all sectors and has prevented an even greater deterioration of living conditions for hundreds of thousands of vulnerable people.

Lebanon was part of the Persian Empire after 539BC and became part of the Greek Empire in 332BC and became part of the Roman Empire in 64BC. Muslims took over in the 7^th century and Christians headed for the hills. In the 13^th century the Ottoman Empire took Lebanon. In 1918, the Ottoman Empire was dissolved and Lebanon came under French control. After WW2, in 1945, it remained under French control and eventually elected a Parliament in 1950.

Lebanon is a parliamentary democratic republic within the overall framework of confessionalism, a form of consociationalism in which the highest offices are proportionately reserved for representatives from certain religious communities. 61.2% are Muslim, 32% are Shia, 38.4% are Christian. This doesn’t work well. The Shia run the government and attract the terror organizations.

Norb Leahy, Dunwoody GA Tea Party Leader