The rate of contraction of Lebanon’s trade deficit that started in 2014 and 2015 failed to continue in 2016, due a faster rise in imports than exports. In details, the deficit has registered a 3.56% yearly rise to stand at $15.65B by December 2016, despite lower oil prices and depreciating currencies. Moreover, trade deficit represented 30.18% of 2016’s GDP, compared to a lower share of 27.79% in 2015.
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2016 deterioration of Lebanon trade balance