Where is Lebanon’s Trade in the Transition to a Digital Economy?

The world is witnessing a digital transformation with implications evident at all levels of the economy, particularly at the level of trade. New trends are surging, mainstream practices are disrupted, and competition is growing especially with digitalization proving to be linked with greater trade openness and higher profitability. As per the 2019 World Trade Statistical Review, current trade statistics cannot quantify the level of international trade attributable to digital transactions.  However, according to UNCTAD estimates, e-commerce sales hit USD 25.6 trillion globally in 2018, up 8 percent from 2017, constituting almost 30 percent of global gross domestic product (GDP) that year. It is most likely that this upward trend will continue with the pandemic putting e-commerce at the forefront of retail and accelerating the trend of digital adoption. In fact, the surge in e-commerce and trade across online channels has pushed companies to move towards the creation of digital offerings