Lebanon has a free-market economy and a strong laissez-faire commercial tradition. The government does not restrict foreign investment; however, the investment climate suffers from red tape, corruption, arbitrary licensing decisions, complex customs procedures, high taxes, tariffs, and fees, archaic legislation, and weak intellectual property rights. The Lebanese economy is service-oriented; main growth sectors include banking and tourism. The 1975-90 civil war seriously damaged Lebanon's economic infrastructure, cut national output by half, and derailed Lebanon's position as a Middle Eastern entrepot and banking hub. Following the civil war Lebanon rebuilt much of its war-torn physical and financial infrastructure by borrowing heavily - mostly from domestic banks - saddling the government with a huge debt burden. Pledges of economic and financial reforms made at separate international donor conferences during the 2000s have mostly gone unfulfilled, including those made during the Paris III Donor Conference in 2007 following the July 2006 war. The collapse of the government in early 2011 over its backing of the Special Tribunal for Lebanon and unrest in neighboring Syria slowed economic growth to 1.5% after four years of 8% average growth. In September 2011 the Cabinet endorsed a bill that would provide $1.2 billion in funding to improve Lebanon's downtrodden electricity sector, but fiscal limitations will test the government's ability to invest in other areas, such as water.

In addition, there are as many as 1 million foreign workers (2007 est.)

Data cover central government debt, and exclude debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment

$4.072 billion (31 December 2011 est.)

$3.8 billion (31 December 2010 est.)

$97.04 billion (31 December 2011 est.)

$92 billion (31 December 2010 est.)

$69.25 billion (31 December 2011 est.)

$64.12 billion (31 December 2010 est.)

$10.16 billion (31 December 2011)

$12.59 billion (31 December 2010)

$12.89 billion (31 December 2009)

Citrus, grapes, tomatoes, apples, vegetables, potatoes, olives, tobacco; sheep, goats

Banking, tourism, food processing, wine, jewelry, cement, textiles, mineral and chemical products, wood and furniture products, oil refining, metal fabricating

Jewelry, base metals, chemicals, miscellaneous consumer goods, fruit and vegetables, tobacco, construction minerals, electric power machinery and switchgear, textile fibers, paper

UAE 11.6%, South Africa 9.3%, Iraq 7.4%, Saudi Arabia 6.8%, Turkey 6.2%, Syria 6%, Egypt 5.4%, Switzerland 4.9% (2009 est.)

Petroleum products, cars, medicinal products, clothing, meat and live animals, consumer goods, paper, textile fabrics, tobacco, electrical machinery and equipment, chemicals

US 10.3%, Italy 9.5%, France 8.9%, China 8.3%, Germany 5.2%, Turkey 4.1% (2009 est.)

$48.14 billion (31 December 2011 est.)

$44.52 billion (31 December 2010 est.)

$29.46 billion (31 December 2011 est.)

$28.42 billion (31 December 2010 est.)

Lebanese pounds (LBP) per US dollar -