The Economy Lebanon's liberal economy is based on competition and private ownership. The private sector directs economic activity and the public sector is responsible for infrastructure and social policy.
Agricultural activity is oriented towards fast moving consumer products and the agro-food industry.
Despite the fact that agricultural products do not cover the country's needs, Lebanon still exports fruits and wines. Similarly to many modern world economies, Lebanon's agriculture needs considerable investments in order to improve its commercial balance. Lebanese industry evolved on the basis of a transformation industry responding to the needs of the Lebanese and foreign markets. The textile industry, china, leather, precious metals, food products and many others all attest to the vitality of this sector. The service sector nevertheless remains predominant with Lebanese and foreign banks attending to requests from private individuals and companies via their correspondents established worldwide.