Líban: Visió econòmica i política
Lebanon strengthened its openness to international trade by signing an Association Agreement with the EU, working toward accession to the WTO and signing a free-trade agreement with the Gulf Cooperation Council (GCC) in May 2004. On the other hand, the share of trade in GDP has been declining sharply in recent years and stands at nearly 46% according to World Bank (2020). Lebanon mainly exports minerals (gold), diamonds, jewellery, vehicles, ferrous waste, waste and scrap and electric & electronic equipment. The country mainly imports mineral fuels, drugs and pharmaceuticals, gold, diamonds, vehicles and live animals.
According to the latest IMF data, the volume of exports of goods and services was -53.5% in 2020, due to the country's economic and financial crisis and following the outbreak of the Covid-19 pandemic. The same applies to the volume of imports, which reached a negative rate of -46.6% in 2020.
Lebanon’s main export partners are Switzerland, the UAE, Saudi Arabia, the United States, Qatar, Syria and Turkey. Its main import partners are the EU (mainly Greece, Italy, Germany and France), the US, Turkey and China. The war in Syria, the drop in demand from countries in the region and the economic and political crisis in Lebanon are having a negative impact on Lebanese exports. The country's trade balance is structurally in deficit, a trend that should worsen.
According to WTO data, in 2020 Lebanese merchandise exports decreased to USD 4.1 billion, while imports decreased to USD 5.7 billion, the trade deficit reducing. As for the services sector, the level of exports in 2020 dropped to USD 5 billion, while imports dropped to USD 5.7 billion. The contraction of trade reflects the depth of the crisis.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 19,911 | 20,396 | 19,641 | 11,355 | 13,857 |
Exports of Goods (million USD) | 4,026 | 3,830 | 4,829 | 4,085 | 4,590 |
Imports of Services (million USD) | 13,815 | 14,243 | 13,336 | 5,734 | 0 |
Exports of Services (million USD) | 15,136 | 15,551 | 13,582 | 4,985 | 0 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 68.5 | 68.3 | 62.6 | 50.1 | 78.8 |
Trade Balance (million USD) | -14,459 | -14,912 | -13,454 | -6,584 | -8,343 |
Trade Balance (Including Service) (million USD) | -13,130 | -13,621 | -12,938 | -6,432 | -7,236 |
Imports of Goods and Services (Annual % Change) | 2.1 | 1.3 | -9.5 | -46.0 | -12.2 |
Exports of Goods and Services (Annual % Change) | 3.9 | -4.7 | -0.9 | -53.7 | 13.1 |
Imports of Goods and Services (in % of GDP) | 46.5 | 47.5 | 42.0 | 33.8 | 52.8 |
Exports of Goods and Services (in % of GDP) | 21.9 | 20.8 | 20.6 | 16.4 | 26.0 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Volume of imports of goods and services (Annual % change) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Main Customers (% of Exports) |
2021 |
United Arab Emirates | 24.3% |
Switzerland | 10.1% |
Cameroon | 6.7% |
Qatar | 4.8% |
Egypt | 4.1% |
United States | 3.6% |
Saudi Arabia | 3.0% |
Iraq | 3.0% |
Türkiye | 2.7% |
Syria | 2.5% |
Greece | 2.2% |
Kuwait | 2.1% |
South Korea | 2.1% |
Jordan | 2.1% |
Ivory Coast | 1.5% |
France | 1.5% |
Spain | 1.4% |
Italy | 1.1% |
Congo | 1.0% |
Germany | 0.9% |
See More Countries | 49.9% |
Main Suppliers (% of Imports) |
2021 |
Türkiye | 11.0% |
Greece | 9.9% |
China | 9.2% |
United States | 5.6% |
United Arab Emirates | 5.5% |
Italy | 4.7% |
Germany | 4.5% |
Russia | 4.4% |
Egypt | 2.6% |
France | 2.5% |
Ukraine | 2.5% |
Cyprus | 2.5% |
United Kingdom | 2.4% |
Switzerland | 2.4% |
Spain | 2.1% |
India | 1.9% |
Belgium | 1.8% |
Saudi Arabia | 1.3% |
Japan | 1.2% |
Netherlands | 1.0% |
See More Countries | 58.9% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
13.5 bn USD of services exported in 2019 | |
63.45% | |
Personal travelPersonal travel | 60.00% |
Business travelBusiness travel | 3.45% |
12.10% | |
5.51% | |
5.42% | |
5.16% | |
4.19% | |
2.19% | |
1.37% | |
0.42% | |
0.19% |
13.4 bn USD of services imported in 2019 | |
49.97% | |
Personal travelPersonal travel | 47.69% |
Business travelBusiness travel | 2.28% |
13.96% | |
11.20% | |
10.13% | |
6.29% | |
4.71% | |
2.60% | |
0.75% | |
0.21% | |
0.17% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: January 2023
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