Foreign trade has been important in the economic life of Lebanon as a source of both income and employment. Some 40% of total exports are actually re-exports, principally machinery, metal products, foods, wood products, textiles, and chemicals.
The most expensive products that Lebanon exports are gold, silverware, jewelry, and precious stones (21%). Other exports include fruits, nuts and vegetables (10.5%), scrap metal (7.2%), and printed matter (4.5%). Major imports include food (29%), machinery and transport equipment (28%), consumer goods (18%), and chemicals (9%).
Principal trading partners in 2000 (in millions of US dollars) were as follows:
COUNTRY | EXPORTS | IMPORTS | BALANCE |
Saudi Arabia | 78 | 165 | -87 |
United Arab Emirates | 75 | 48 | 27 |
Switzerland | 51 | 432 | -423 |
United States | 49 | 458 | -613 |
France | 37 | 527 | -625 |
Syria | 26 | 283 | -212 |
Turkey | 23 | 139 | -159 |
Italy | 18 | 680 | -794 |
Germany | 18 | 520 | -590 |
United Kingdom | 11 | 243 | -298 |
Japan | 6 | 211 | -291 |
China (inc. Hong Kong) | n.a. | 287 | -277 |