According to the Lebanese Customs Administration, Lebanon’s cumulative trade deficit narrowed by 3.16% year-over-year (YoY), reaching $2.21 billion by February 2025. This improvement was driven by a cumulative 41.31% YoY surge in exports by February 2025, which outpaced the cumulative 4.08% YoY rise in imports during the same period.
The sharp rise in exports likely signals a rebound in business activity across multiple regions following the November 27, 2024, ceasefire with Israel. While Israel has continued to breach the agreement, these disruptions have remained localized, allowing broader commercial operations to resume, expanding export capacity, and driving export growth.
BLOM Lebanon’s Purchasing Managers’ (PMI) data for January and February 2025 supports this trend. It showed a sharp rise in output in January 2025, marking its highest acceleration since May 2013, followed by a sustained but slightly eased expansion in February. Notably, new export orders also showed significant improvement, reaching a 14-month high in January and a 15-month high in February, suggesting strengthening external demand.
A significant portion of the recent export growth can be attributed to a 126% cumulative increase in exports processed via Rafic Hariri International Airport, reaching $296 million by February 2025. This surge likely reflects growing confidence in the airport’s management, which has implemented enhanced security protocols and stricter oversight, reinforcing its reliability as a trade hub. Additionally, the consistent assurances of airport security have played a crucial role, particularly as exporters seek alternative routes amid persistent risks in the Red Sea region.
Additionally, consumer behavior adjusted as geopolitical tensions eased, with individuals spending more freely rather than limiting their consumption to stockpiling essentials, contributing to the rise in imports.
Lebanon’s Balance of Trade (USD Million)
YTD: Year to Date
The top three import destinations in 2025 up till February were China, Egypt, and Greece, accounting for 10.8%, 10.34%, and 9.35% of the total value of imports, respectively. The top imported products were mineral products (31.12%) at $882 million, pearls, precious stones, and metals (10.06%) at $285 million, and products of the chemical or allied industries (8.65%) at $245 million.
Top Import Destinations for Lebanon (YTD up to Feb 2025)
On the exports side, the top three destinations in 2025 up till February were Switzerland, United Arab Emirates and United States capturing respective shares of 30.19%, 14.7% and 4.31% of the total value of exports. The top exported products were pearls, precious stones, and metals (42.97%) at $269 million, base metals and articles of base metal (16.13%) at $101 million, and prepared foodstuffs, beverages, and tobacco (10.54%) at $66 million.
Top Export Destinations for Lebanon (YTD up to Feb 2025)
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