According to the Industrial Information Department of the Ministry of Industry, the total value of industrial exports during the first nine months of the year 2017 amounted to about $1.82B compared to $1.89B during the same period of the year 2016, which is equivalent to a decrease in exports of 19% compared to 2016.
The total value of industrial exports in September 2017 was nearly $167.6 M compared to $184.3M in September 2016.
Some products witnessed an increase in their exports value; however, this rise was overcome by the significant decrease in the exports’ value of other products. In details, the exports of base metals and articles of base metal increased from $16.2M in September 2016 to $24.3M in September 2017. Also, the increase of the exports of pearls, precious or semi-precious stones and precious metals was $7.5M higher in September 2017 compared to September 2016 to reach $14.9M.
On the other side, products with a decreased exports value were Machinery and Electrical equipment: exports products in this category decreased from $47.3M in September 2016 to $25.6M in September 2017. Indeed, the decrease in the exports of these products was to Iraq mainly amounting to $10.94M in September 2016 compared to only $3.6M in September 2017. Also, exports of paper and paperboard articles dropped from $11.2M in September 2016 to $7.6M in September 2017 due to lower exports to Iraq and Syria.
The total import value of industrial machinery and equipment in September 2017 reached about $30.1M compared to $16.2M during the same period in 2016. The top import source was Italy in providing Lebanon with industrial machinery and equipment amounting to about $5.6M; the most predominant imports of machines are destined for the food industry followed by machines for the paper and cardboard industry.
Value of Industrial Exports by Product Category ($M)
|Fats and edible fats and oils||2.9||1.8||-1.1|
|Prepared foodstuffs and tobacco||30.7||27.9||-2.8|
|Products of the chemical industries||31.2||34.8||3.6|
|Plastics and rubber and articles thereof||11.9||11.6||-0.2|
|Raw hides and skins, leather, fur skins and articles thereof||0.6||0.8||0.1|
|Wood and articles of wood||0.9||0.7||-0.2|
|Paper and paperboard and articles thereof||11.2||7.6||-3.6|
|Textiles and textile articles||6.2||4||-2.2|
|Footwear, headgear, prepared feather||0.8||0.2||-0.5|
|Articles of stone, plaster, cement; glass and glassware||1.4||1.5||0.1|
|Pearls, precious or semi-precious stones, precious metals and articles thereof (Excluding unworked diamonds, silver and gold Ingots)||7.4||14.9||7.5|
|Base metals and articles of base metal||16.2||24.3||8.1|
|Machinery and electrical equipment||47.3||25.6||-21.7|
|Optical, measuring, medical, and musical instruments; clocks and watches||1.2||2.4||1.3|
|Arms and ammunition||0||0||0|
|Miscellaneous manufactured articles||8||4||-3.9|
Source: Ministry of Industry