According to the Central Administration of Statistics (CAS), Lebanon’s real GDP growth reached its lowest since 2011. Real GDP growth continued its decline reaching 0.8% in 2015, after a real growth of 2.8% in 2012 and 2.6% in 2013 and 2% in 2014. The GDP deflator had reached 6.5% in 2012 and dropped to 2.2% in 2013 and 1.9% in 2014 to later increase to 2.6% in 2015.
The GDP deflator remained positive in 2015 while the average inflation rate measured by the Consumer Price Index (CPI) turned negative that same year standing at -3.76%. In fact, 2015’s negative average inflation rate was due to the decline in oil prices and the depreciation of the euro. The main difference between CPI-measured inflation and the GDP deflator is that the former does include imported goods while the latter measures only domestically produced products.
The Gross National Disposable Income (GNDI) exceeded GDP in 2015. The reason behind this is that the GNDI includes net transfers from abroad (mainly remittances). Net transfers from abroad reached $2.25 billion in 2015 up by 43% from $1.57 billion in 2014. Furthermore, the GNDI, which includes factor income and net transfers, reflects the income available to the total economy for final consumption and gross savings.
To read the full report, click on the link below:
Insights into Lebanon’s 2015 National Accounts