On the current account side of the balance of payments, Lebanon’s balance of trade deficit widened by $5,807.19 million (59.53%) in 2022 to nearly $15.56 billion, up from around $9.75 billion in 2021, according to statistics published by the Lebanese Customs Administration. Said rise in the deficit was triggered by some $5.41 billion increase in imports to $19.05 billion coupled with some $395 million drop in exports to just above $3.49 billion.

The U.A.E. led the list of countries importing from Lebanon, with its imports invoice aggregating to $0.75 billion (21.40% of Lebanon’s exports). China, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $2.68 billion (14.04% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 21.56% ($753 million) of total Lebanese exports in 2022, followed by “base metals and their products” ($490 million <14.02%>), “prepared foodstuffs, beverages, and tobacco” ($390 million <11.16%>), and “plastics and articles thereof; rubber” ($388 million <11.11%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($5,581 million <29.29%>), trailed by “machinery; electrical instruments” ($2,456 million <12.89%>), “vehicles, aircraft, vessels, transport equipment” ($1,999 million <10.49%>) and “pearls, precious stones and metals” ($1,682 million <8.83%>).