Lebanon
2020 Economic Complexity : 0.28, Rank 48 of 127
2020 Product Exports | Imports: $4.24B | $12.9B, 119 of 226 | 85 of 226
2020 Service Exports | Imports : $4.9B | $4.84B, 44 of 65 | 45 of 65
Overview In 2020, Lebanon was the number 98 economy in the world in terms of GDP (current US$), the number 119 in total exports, the number 85 in total imports, the number 105 economy in terms of GDP per capita (current US$) and the number 48 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Lebanon are Gold ($1.05B), Diamonds ($257M), Scrap Iron ($167M), Jewellery ($164M), and Cars ($109M), exporting mostly to Switzerland ($1.1B), United Arab Emirates ($574M), Saudi Arabia ($233M), United States ($182M), and Qatar ($161M).
Imports The top imports of Lebanon are Refined Petroleum ($2.81B), Packaged Medicaments ($681M), Gold ($587M), Planes, Helicopters, and/or Spacecraft ($521M), and Gas Turbines ($460M), importing mostly from Turkey ($945M), China ($919M), Germany ($897M), United States ($857M), and United Arab Emirates ($837M).
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Lebanon.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionData is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Trade
#permalink to sectionTop Export (2020): Gold, $1.05B
Top Destination (2020): Switzerland, $945M
In 2020, Lebanon exported a total of $4.24B, making it the number 119 exporter in the world. During the last five reported years the exports of Lebanon have changed by $528M from $3.71B in 2015 to $4.24B in 2020.
The most recent exports are led by Gold ($1.05B), Diamonds ($257M), Scrap Iron ($167M), Jewellery ($164M), and Cars ($109M). The most common destination for the exports of Lebanon are Switzerland ($1.1B), United Arab Emirates ($574M), Saudi Arabia ($233M), United States ($182M), and Qatar ($161M).
Market Growth
#permalink to sectionFastest Growing Export Markets (2019 - 2020)
- United Arab Emirates, $125M (+ 27.9%)
- United States, $89.4M (+ 96.7%)
- Turkey, $30.5M (+ 41.8%)
Service Trade
#permalink to sectionService Trade
#permalink to sectionLebanon Exports Services (2020): $4.9B
Lebanon Imports Services (2020): $4.84B
In 2020, Lebanon exported $4.9B worth of services. The top services exported by Lebanon in 2020 were Personal travel ($2.32B), Miscellaneous business, professional, and technical services ($978M), Merchanting and other trade-related services ($575M), Reinsurance ($215M), and Telecommunications services ($134M).
The top services imported by Lebanon in 2020 were Personal travel ($1.61B), Miscellaneous business, professional, and technical services ($804M), Sea transport ($631M), Financial services ($373M), and Reinsurance ($328M).
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionLebanon has a high level of specialization in Sheep and Goats (86.1), Phosphatic Fertilizers (75.6), Phosphoric Acid (52.2), Pickled Foods (34.6), and Raw Lead (31.2). Specialization is measured using RCA, an index that takes the ratio between Lebanon observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Lebanon according to the product complexity index (PCI) are Photographic plates and film; exposed and developed, other than cinematographic film (2.45), Machines; calendering or other rolling machines, for other than metal or glass and cylinders therefor (1.57), Machinery; for working rubber or plastics or for the manufacture of products from these materials, n.e.c. in this chapter (1.53), Machinery, auxiliary; for use with machines of heading no. 8444 to 8447 (e.g. dobbies, jacquards, automatic stop motions, shuttle changing mechanisms) parts, accessories for machines of heading no. 8444, 8447 (1.38), and Machine-tools; for working stone, ceramics, concrete, asbestos-cement or like mineral materials or for cold working glass (1.1). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Lebanon according to the relatedness index, are Other Oily Seeds (0.25), Raw Sugar (0.25), Non-fillet Fresh Fish (0.24), Rolled Tobacco (0.24), and Raw Iron Bars (0.24). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Lebanon is not specialized in.
Product Space
#permalink to sectionThe product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
Economic Complexity Ranking
#permalink to sectionDuring the last 20 years Lebanon's economy has become relatively less complex, moving from the nullth to the 48th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
