On the current account side of the balance of payments, Lebanon’s balance of trade deficit narrowed by $358.27 million y-o-y to $11.37 billion in the first eight months of the current year, from $11.73 billion during that same period last year, according to statistics published by the Lebanese Customs Administration. Said contraction in the deficit was triggered by a $478.75 million y-o-y hike in exports to just over $2.46 billion, which outweighed the $120.49 million increase in imports to nearly $13.84 billion.

Switzerland led the list of countries importing from Lebanon, with its imports invoice aggregating to $629 million (25.51% of Lebanon’s exports). The United States, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $1,246 million (9.01% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 37.40% ($922 million) of total Lebanese exports by August 2019, followed by “chemical products” ($257 million <10.43%>), “prepared foodstuffs, beverages, and tobacco” ($249 million <10.10%>), and “machinery and electrical instruments” ($246 million <9.98%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($4,732 million <34.20%>), trailed by “chemical products” ($1,404 million <10.15%>), “machinery and electrical instruments” ($1,223 million <8.84%>), and “vehicles, aircraft, vessels, and transport equipment” ($892 million <6.45%>).