According to the Central Bank, the deficit of Lebanon’s Balance of Payments widened from $1.29B by November 2014 to $2.98B by November 2015. The wider deficit came about as the Net Foreign Assets of Commercial Banks fell by $3.24B while the Central Bank’s NFAs rose by $255.6M.
The BoP’s deficit goes hand in hand with a lower inflow of Foreign Direct Investments and with a wider trade deficit. According to Lebanese Customs, Lebanon’s trade deficit grew by a yearly 0.4% to reach $15.80B in the first 11 months of the year, as both imports and exports slumped by 3.04% to $18.85B and by 17.68% to $3.04B, respectively.
In the month of November alone, the deficit in Lebanon’s Balance of Payments reached $815.7M compared to $424.4M in November 2014.
Lebanon’s Balance of Payments, by November, in $ Million
Source: Central Bank of Lebanon