On the current account side of the balance of payments, Lebanon’s balance of trade deficit widened by $13,883.90 million (152.55%) on an annual basis to nearly $22.99 billion during the first eleven months of 2022 up from around $9.10 billion during that same period last year, according to statistics published by the Lebanese Customs Administration. Said rise in the deficit was triggered by some $15.93 billion increase in imports to $28.30 billion totally eclipsing the $2.04 billion rise in exports to just above $5.31 billion.

The U.A.E. led the list of countries importing from Lebanon, with its imports invoice aggregating to $1.06 billion (19.86% of Lebanon’s exports). China, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $3.95 billion (13.96% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 20.42% ($1,085 million) of total Lebanese exports by November 2022, followed by “base metals and their products” ($776 million <14.60%>), “plastics and articles thereof; rubber” ($715 million <13.46%>), and “prepared foodstuffs, beverages, and tobacco” ($584 million <10.99%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($8,202 million <28.98%>), trailed by “machinery; electrical instruments” ($3,652 million <12.90%>), “vehicles, aircraft, vessels, transport equipment” ($3,072 million <10.86%>) and “pearls, precious stones and metals” ($2,525 million <8.92%>).