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LEBANON Tenders




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Capital Beirut
ISO 3166 Code LB
Population 4,104,000
Area, Sq KM 10,452
Currency Lebanese pound
Official Language Arabic
GDP, Billion USD 44,352
GDP Growth Rate, % 2.3
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % N/A
Exchange Rate, 1 USD Equals 1507.50
International dial code 961
Time Zone GMT+02:00
Internet TLD .lb

Lebanon is a country which is located in Western Asia and shares its borders by Syria to the east and north along with Israel to the south. The location of this country which is at the crossroads of the Mediterranean Basin and the Arabian hinterland has contributed to a great extent in shaping up its rich history and a cultural identity of ethnic and religious diversity.The first civilization in Lebanon can be traced back to more than seven thousand years as it was the home to the Phoenicians and their kingdom which was a maritime culture and flourished for over a thousand years. Lebanon came under the rule and influence of the Ottoman Empire from 1516 to 1918. The empire collapsed after World War I and the five provinces that comprised modern Lebanon were mandated to France. Foreign troops were withdrawn and Lebanon got is independence in the year 1946. The country enjoyed a prolonged period of calmness and prosperity until the Lebanese Civil War started which lasted from 1975–1990. The period of prosperity experienced by the country was driven by commerce, agriculture, banking and tourism. The capital of Lebanon which is known by the name Beirut attracted numerous tourists and was also known as "the Paris of the Middle East". When the Civil War ended, the country took extensive measures to rebuild the national infrastructure and revive the economy. The economy follows a laissez-faire model, here in Lebanon so most of the economy is dollarized. The country doesn’t impose any restrictions on the movement of capital across its borders either. The government’s intervention in foreign trade of Lebanon is minimal. The economy grew in 2008 to 8.5% 9% in 2009 even through the country was going through a global recession. As per International Monetary Fund, nominal GDP was estimated to be around $41.5 billion dollars. This country has an extremely high level of public debt along with having large external financing needs. The urban population is known for its commercial enterprise in Lebanon and emigration has yielded Lebanese "commercial networks" throughout the world. Lebanon is believed to have the largest proportion of skilled labor among the Arab States. The agricultural sector of this country accounts for 12% employment of the total workforce along with contributing 5.9% of the GDP of the country in 2011. The proportions of cultivable land here, in Lebanon is known to be the highest in the Arab world.

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