On the current account side of the balance of payments, Lebanon’s balance of trade deficit widened by $619.94 million (30.50%) on an annual basis to nearly $2.63 billion during the first quarter of 2021, up from around $2.02 billion during that same period last year, according to statistics published by the Lebanese Customs Administration. Said increase in the deficit was triggered by some $399.54 million increase in imports to around $3.33 billion, accompanied by a $215.4 million drop in exports to around $699 million.

The U.A.E. led the list of countries importing from Lebanon, with its imports invoice aggregating to $136 million (19.52% of Lebanon’s exports). Greece, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $308 million (9.24% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 25.42% ($178 million) of total Lebanese exports by March 2021, followed by “prepared foodstuffs, beverages, and tobacco” ($95 million <13.67%>), “base metals and their products” ($89 million <12.68%>), and “chemical products” ($81 million <11.54%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($853 million <25.62%>), trailed by “chemical products” ($492 million <14.77%>), “pearls, precious stones and metals” ($301 million <9.03%>), and “vegetable products” ($275 million <8.26%>).