Despite facing significant economic challenges, Lebanon remains a market of interest for Swiss and Liechtenstein exporters due to its strategic location and potential for recovery in key sectors such as reconstruction and tourism. The country's need for rebuilding and modernization presents opportunities for businesses offering innovative and sustainable solutions.
Lebanon's economy has been severely impacted by recent incidents, with a cumulative GDP decline of nearly 40% since 2019. However, the real GDP is projected to grow by 4.7% and reached $30 billion by 2025, indicating potential recovery. The reconstruction needs, estimated between $11 and $14 billion, highlight opportunities in construction and infrastructure development. Additionally, the tourism sector, which has suffered significant losses, is ready for revival, offering prospects for Swiss and Liechtenstein companies specializing in hospitality and travel services. Despite these opportunities, challenges such as high inflation, estimated at 45% in 2024, and a substantial underground economy, require exporters to conduct thorough market research and risk assessment.
Yes
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
1.72 1.72 billion
Total trade flows
Total goods traded with Switzerland (imports + exports). Source: UN Comtrade. Data as of 2023.
Lebanon’s market stands out for its remarkable resilience and entrepreneurial spirit, offering opportunities for Swiss and Liechtenstein exporters who understand the local dynamics.
Suhail El Obeid
Senior Consultant Middle East
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FAQs
What is the current economic situation?
The Lebanese economy is currently facing significant challenges, with a real GDP contraction of 7.1% to 7.5% in 2024 and a cumulative GDP decline of nearly 40% since 2019. Despite these challenges, there are signs of stabilization, such as a stable exchange rate supported by balanced external and budgetary accounts. Swiss exporters should be cautious but can explore opportunities as the economy is projected to grow by 4.7% in 2025, potentially increasing demand for imports.
What are the main export and import trends?
In 2024, Swiss exports to Lebanon decreased significantly by 42%, while Lebanon's overall exports fell by 9.6% compared to 2023. However, in the first quarter of 2025, Lebanese exports surged by 30%, driven by a 120% increase in jewelry exports. Swiss exporters should monitor this rebound in Lebanese exports, particularly in the jewelry sector, as it may present new opportunities for trade partnerships.
What opportunities exist for Swiss companies?
Swiss companies have opportunities in the luxury sector, which continues to thrive despite economic challenges. This is particularly relevant for Swiss exporters specializing in high-end goods and services, as they can leverage their reputation for quality and precision to capture market share in this resilient sector.
Which sectors are most promising?
The luxury sector is particularly promising for Swiss exporters, as it continues to thrive despite economic challenges. Swiss companies active in this sector can leverage their reputation for quality and precision to capture market share. Additionally, the service sector, which constitutes over 70% of Lebanon's GDP, presents opportunities for Swiss expertise in finance, consulting, and technology services.
What are the main challenges and risks?
Swiss exporters face significant challenges when dealing with Lebanon due to its economic instability, including a high risk of money laundering and food insecurity affecting 15% of households. Additionally, Lebanon's inclusion on the EU's high-risk list and the FATF's gray list increases regulatory scrutiny and compliance costs.
