On the current account side of the balance of payments, Lebanon’s balance of trade deficit narrowed by $2.59 billion on an annual basis to nearly $2.59 billion during the first four months of the current year, down from around $5.18 billion during that same period last year, according to statistics published by the Lebanese Customs Administration. Said contraction in the deficit was triggered by some $2.63 billion decrease in imports to around $3.68 billion amid the thin access to foreign currencies in the banking system to finance imports activity, accompanied by some $36.77 million drop in exports to nearly $1.09 billion.

Switzerland led the list of countries importing from Lebanon, with its imports invoice aggregating to $308 million (28.37% of Lebanon’s exports). Greece, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $308 million (8.37% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 38.15% ($414 million) of total Lebanese exports by April 2020, followed by “prepared foodstuffs, beverages, and tobacco” ($129 million <11.91%>), “machinery; electrical instruments” ($99 million <9.12%>), and “base metals and articles of base metal” ($97 million <8.92%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($1,157 million <31.47%>), trailed by “chemical products” ($516 million <14.05%>), “vegetable products” ($297 million <8.08%>), and “pearls, precious stones and metals” ($291 million <7.93%>).