According to the Lebanese Ministry of Industry, the value of total industrial exports fell to $196.M in February 2017, compared to $222.8M in February 2016.
Exports of Machinery and electrical equipment (19.05% of total exports) declined from $59.9M in Feb. 2016 to $37.5 in Feb. 2017. Also, the value of industrial exports declined for Pearls, Precious or semi-precious stones, precious Metals and Articles thereof (3.62% of total exports), which decreased by an annual 48.5% to $7.2M in Feb. 2017.
On the counterpart, the value of exported Base metals and articles of base metal (12.63% of total exports) and Prepared foodstuffs and Tobacco (20.07% of total exports) rose from $20.3M and $35M in February 2016 to $25.1M and $39.5M in February 2017, respectively.
In details, the main products exported in Feb.2017 were: Prepared foodstuffs (20.07% of total exports), Machinery and electrical equipment (19.05% of total), Products of the chemical industries (18.95% of total), and Base metals and articles of base metals (12.75% of total) with respective values of $39.5M, $37.5M, $37.3M, and $25.1M.
Syria was the largest importer of Lebanon’s Prepared foodstuffs and Tobacco, with an import value of $9.1M; Iraq imported $6.2M worth of Machinery and electrical equipment, while Brazil imported the lion’s share of Products of the chemical industries (import value reached $14.8M).
Primary export markets for the Lebanese industrial products were Saudi Arabia, United Arab Emirates, and Syria, with respective shares of 10.06%, 9.86% and 8.71% of total exports.
As for imports of Machinery and Industrial Equipment, they fell by an annual 38.1% to stand at $10.7M in Feb.2017. The imports of Machinery for food industries ranked first, with a value of $1.7M, of which $0.4M were imported from China. Machines used to manufacture paper and paperboard accounted for $0.7M, of which $0.4M were imported from China as well.
Main Industrial Exports in February 2015 and 2016 (in $M)
Source: Ministry of Industry