Lebanon flag Lebanon: Economic and Political Overview

Foreign trade figures of Lebanon

Foreign Trade in Figures

The share of Lebanon’s foreign trade has fluctuated in recent years and stood at nearly 115% of GDP in 2022, up from 50% two years earlier mostly due to the contraction in GDP (World Bank, latest data available). According to data from the French Ministry of Economy, in 2023, the main export categories were precious metals (25.4% of total exports, +1% y-o-y), base metals (14.3%, -12.3%), electrical machinery and equipment (12.9%, +12.8%), agri-food products (12.6%, -3.3%), chemicals and pharmaceuticals (9.9%, -19.8%), and fruits and vegetables (6.9%, -35%). Hydrocarbons were Lebanon’s top import in 2023, accounting for 27% of total imports. While volumes rose by 1%, their value fell by 17% to USD 4.6 billion, reflecting the drop in average oil prices (from USD 101 per barrel in 2022 to USD 83 in 2023). Other key imported goods included precious metals (14.4%, +50%), electrical machinery and equipment (9.3%, -34%), chemicals and pharmaceuticals (7.2%, +8.7%), and vehicles (6.6%, -42%).

The UAE, serving as a regional logistics hub, was Lebanon’s top export destination in 2023 (19.7% of the total), followed by Turkey (9.8%), Egypt (5.4%), Iraq (5.1%), Switzerland (4.8%), and the United States (4%). The EU received only 12.9% of Lebanon’s total exports. Lebanon’s main suppliers were China (11.8% market share), Switzerland (10%), Greece (9.6%), Turkey (7.8%), Italy (6.3%), and the United States (4%). The EU, with which Lebanon has an association agreement, accounted for 34% of total imports. According to data by Comtrade, Lebanon’s main export partners in 2022 were the United Arab Emirates (23.3%), Syria (9.6%), Turkey (4.5%), Egypt (4.4%), and Iraq (4.2%); whereas imports come chiefly from China (13.8%), Turkey (12.4%), Greece (9.8%), Italy (5.8%), and the United States (5%). The war in Syria, the drop in demand from countries in the region, and the economic and political crisis exacerbated by the escalation of the Israel-Hezbollah conflict are having a negative impact on Lebanese exports, while imports are also hindered by the lack of hard currency.

The country's trade balance is structurally in deficit. According to WTO data, in 2023, Lebanese merchandise exports stood at USD 3 billion as opposed to USD 15.2 billion in imports (-29.4% and -21.6% year-on-year, respectively). No data is available for trade in services. The growth of the informal economy can distort customs data analysis. For instance, official figures show Lebanon’s trade with Syria plummeted from USD 467 million to USD 228 million in 2023, mainly involving plastics. However, importers report a surge in the smuggling of consumer goods and fuel (French Ministry of Economy). These discrepancies raise questions about data reliability, given the significant challenges faced by the customs administration.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 19,64111,35513,85719,50315,286
Exports of Goods (million USD) 4,8294,0854,5904,3703,083
Imports of Services (million USD) 13,1574,8024,7416,1260
Exports of Services (million USD) 13,6734,9545,8478,2360

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20192020202120222023
Foreign Trade (in % of GDP) 63.050.178.8114.9n/a
Trade Balance (million USD) -13,454-6,584-8,885-13,756-12,838
Trade Balance (Including Service) (million USD) -12,938-6,432-7,983-12,091-11,543
Imports of Goods and Services (Annual % Change) -9.5-46.0-12.23.5n/a
Exports of Goods and Services (Annual % Change) -0.9-53.713.10.3n/a
Imports of Goods and Services (in % of GDP) 42.333.852.880.1n/a
Exports of Goods and Services (in % of GDP) 20.716.426.034.8n/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20242025 (e)2026 (e)2027 (e)2028 (e)
Volume of exports of goods and services (Annual % change) 0.00.00.00.00.0
Volume of imports of goods and services (Annual % change) 0.00.00.00.00.0

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Lebanon is a member of the following international economic organisations: IMF, Arab Fund for Economic and Development (AFESD), ICC, Arab Monetary Fund (AMF), G-24, G-77, Arab League, WTO, among others. For the full list of economic and other international organisations in which participates Lebanon click here. International organisation membership of Lebanon is also outlined here.
Free Trade Agreements
The up-to-date list of Free Trade Agreements signed by Lebanon can be consulted here.
 

Main Partner Countries

Main Customers
(% of Exports)
2023
United Arab Emirates 22.2%
Türkiye 7.9%
Iraq 5.2%
Egypt 5.0%
United States 4.7%
See More Countries 55.1%
Main Suppliers
(% of Imports)
2023
China 11.5%
Greece 9.8%
Switzerland 9.7%
Türkiye 7.6%
Italy 6.2%
See More Countries 55.2%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

4.6 bn USD of products exported in 2023
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 12.6%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.5%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 7.1%
Diamonds, whether or not worked, but not mounted...Diamonds, whether or not worked, but not mounted or set (excl. unmounted stones for pick-up styluses, worked stones, suitable for use as parts of meters, measuring instruments or other articles of chapter 90) 5.8%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old) 4.2%
See More Products 61.8%
18.1 bn USD of products imported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 25.9%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 11.5%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.5%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.9%
Live bovine animalsLive bovine animals 2.0%
See More Products 53.2%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

8.2 bn USD of services exported in 2022
64.83%
18.17%
7.60%
2.93%
2.07%
1.17%
1.04%
0.91%
0.59%
0.41%
0.27%
6.1 bn USD of services imported in 2022
52.21%
24.86%
14.97%
2.96%
2.33%
1.36%
0.66%
0.32%
0.16%
0.14%
0.03%

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: February 2025