The United Nations Conference on Trade and Development (UNCTAD) published this week its “2022 Handbook of Statistics” report in which it provided a list of indicators pertaining to international trade, investment, and development across the globe. According to the report, international trade rebounded strongly in 2021 after two years of decline due to the COVID-19 pandemic. In addition, the report revealed that the export of agricultural raw materials increased by 32% in 2021 while those of manufactured goods rose by 22%. Similarly, the report also noted that the export of ores, metals, and precious stones grew by 34%, with trade of food products rising by circa 18%. World merchandise exports propelled by 26.5% to $22.33 trillion in 2021, from around $17.65 trillion a year earlier, with merchandise imports concurrently increasing to $22.59 trillion, from $17.88 trillion in 2020. This pattern was also witnessed among developed and developing economies, where merchandise exports accelerated to $12.41 trillion and $9.92 trillion from $10.05 trillion and $7.60 trillion respectively, and merchandise imports rose to $13.32 trillion and $9.27 trillion, up from $10.81 trillion and $7.07 trillion on a respective basis. On the regional front, the United Arab Emirates (UAE) topped the list of West Asian countries in terms of merchandise exports for yet another consecutive year, with the value of its exports reaching $425.18 billion, followed by Saudi Arabia ($276.18 billion) and Türkiye ($225.22 billion), only to name a few. The UAE also came in first in the region in terms of merchandise imports, with its imports bill aggregating to $347.53 billion in 2021, followed by Türkiye ($271.43 billion) and Saudi Arabia ($152.85 billion), among others. Locally, the UNCTAD statistical handbook revealed that Lebanon’s merchandise exports stood at $4.59 billion in 2021, and merchandise imports levelled at $13.86 billion. Lebanon ranked as such 10^th in the West Asia region in terms of merchandise exports and imports in 2021, preserving its 2020 rank.

From another standpoint, the UNCTAD estimated that the Lebanese economy contracted by 15.1% in real terms in the year 2021. In addition, the report indicated that FDI inflows to Lebanon fell to $273 million and that the current account deficit reached $4.8 billion. Finally, the report noted that Lebanon’s CPI growth neared 155% in the year 2021.