On the current account side of the balance of payments, Lebanon’s balance of trade deficit narrowed by $1,519.64 million in 2019 to nearly $15.51 billion, down from around $17.03 billion a year before, according to statistics published by the Lebanese Customs Administration. Said contraction in the deficit was triggered by a $779.52 million hike in exports to just above $3.73 billion, which was accompanied by some $740.12 million drop in imports to $19.24 billion.

Switzerland led the list of countries importing from Lebanon, with its imports invoice aggregating to $1,062 million (28.46% of Lebanon’s exports). The United States, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $1,705 million (8.86% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 38.99% ($1,455 million) of total Lebanese exports in 2019, followed by “machinery and electrical instruments” ($382 million <10.23%>), “prepared foodstuffs, beverages, and tobacco” ($371 million <9.95%>), and “chemical products” ($369 million <9.89%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($6,609 million <34.35%>), trailed by “chemical products” ($1,991 million <10.35%>), “machinery and electrical instruments” ($1,665 million <8.65%>), and “prepared foodstuffs, beverages, and tobacco” ($1,214 million <6.31%>).