New data released by the Central Administration of Statistics revealed that nominal GDP in 2021 stood at 245.5 7 trillion LBP; whereas real GDP (in terms of 2019 prices) was 61.75 trillion LBP, compared to 60.53 trillion LBP in 2020, thus implying that GDP grew by 2%. In addition, the GDP deflator grew by 148.4% in 2021.
In terms of real expenditure, consumption stood at 64.73 trillion LBP in 2021, compared to 69.69 trillion LBP in 2020, a reduction by 7.11%; investment was 7.69 trillion LBP compared to 3.37 trillion LBP, an impressive increase by 128.19%; and net exports were negative 13.11 trillion LBP compared to negative 12.53 trillion LBP, a fall by 4.62%.
In dollar terms, at an average exchange rate of 12,414 LBP per USD, GDP in 2021 was 19.8 billion USD, gross national income (equal GDP plus net income from abroad) was 17.2 billion USD, and gross national disposable income (gross national income plus net transfers from abroad) was 24.3 billion USD.
