On the current account side of the balance of payments, Lebanon’s balance of trade deficit narrowed by $1,218.14 million y-o-y to $14.49 billion in the first eleven months of the year 2019, from $15.71 billion during that same period in 2018, according to statistics published by the Lebanese Customs Administration. Said contraction in the deficit was triggered by a $701.20 million y-o-y hike in exports to nearly $3.41 billion, which was accompanied by some $516.94 million drop in imports to $17.89 billion.

Switzerland led the list of countries importing from Lebanon, with its imports invoice aggregating to $976 million (28.66% of Lebanon’s exports). The United States, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $1,564 million (8.74% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 39.15% ($1,334 million) of total Lebanese exports by November 2019, followed by “machinery and electrical instruments” ($344 million <10.11%>), “chemical products” ($342 million <10.04%>), and “prepared foodstuffs, beverages, and tobacco” ($336 million <9.86%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($5,991 million <33.48%>), trailed by “chemical products” ($1,851 million <10.35%>), “machinery and electrical instruments” ($1,565 million <8.74%>), and “prepared foodstuffs, beverages, and tobacco” ($1,139 million <6.36%>).