On the current account side of the balance of payments, Lebanon’s balance of trade deficit narrowed by $334.40 million (2.30%) in 2024 to nearly $14.20 billion, down from around $14.53 billion in 2023, according to statistics published by the Lebanese Customs Administration. Said drop in the deficit was triggered by some $622.35 million annual decrease in imports to just below $16.90 billion, which eroded the effect of some $287.95 million decrease in exports to just around $2.71 billion.

The U.A.E. led the list of countries importing from Lebanon, with its imports invoice aggregating to $516 million (19.06% of Lebanon’s exports). China, on the other hand, topped the list of countries exporting to Lebanon, with its exports bill reaching $1.95 billion (11.55% of Lebanon’s imports). This is further elaborated in the tables below:

Exports of “pearls, precious stones and metals” accounted alone for 21.14% ($572 million) of total Lebanese exports in 2024, followed by “prepared foodstuffs; beverages & tobacco” ($413 million <15.24%>), “base metals and their products” ($406 million <14.98%>), and “products of the chemical industry” ($330 million <12.18%>). On the other hand, “mineral products” constituted the lion’s share of imported goods ($4,387 million <25.96%>), trailed by “pearls, precious stones and metals” ($2,572 million <15.22%>), “products of the chemical industry” ($1,391 million <8.23%>), and “machinery; electrical instruments” ($1,304 million <7.71%>).