On the current account side of the balance of payments, Lebanon’s balance of trade deficit widened by $372.06 million y-o-y to $8.41 billion in the first half of the current year, from $8.04 billion during that same period last year, according to statistics published by the Lebanese Customs Administration. Said increase in the deficit was triggered by a $557.97 million y-o-y hike in imports to nearly $10.14 billion, which outweighed the $185.91 million increase in exports to around $1.73 billion.

Switzerland led the list of countries importing from Lebanon, with its imports invoice aggregating to $329 million (19.08% of Lebanon’s exports). The United States, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $920 million (9.08% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 32.99% ($569 million) of total Lebanese exports by June 2019, followed by “prepared foodstuffs, beverages, and tobacco” ($200 million <11.58%>), “machinery and electrical instruments” ($186 million <10.78%>), and “chemical products” ($179 million <10.39%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($3,370 million <33.24%>), trailed by “chemical products” ($1,030 million <10.16%>), “machinery and electrical instruments” ($911 million <8.99%>), and “vehicles, aircraft, vessels, and transport equipment” ($658 million <6.49%>).