Lebanon’s Trade Deficit Marginally Widened by a yearly 0.63% in the First Four Months of 2017

Lebanon’s trade deficit stood at $5.39B in the first four months of the year, widening from the $5.36B recorded in the same period last year. Total imports grew by 2.11% year-on-year (y-o-y) to $6.36B, while exports rose only by 11.23% y-o-y to $967.66M.

The top products imported to Lebanon were Mineral products with a share of 21.96%, followed by 10.85% for products of the Chemical and allied industries and 9.5% for Machinery and electrical instruments.

The value of imported Mineral products fell from $1.56B to $1.39B by April 2017. However, the value of products of the Chemical and allied Industries rose by an annual 1.36% to $690.6M. The value of products of Machinery and electrical Instruments also increased by 3.8% y-o-y to $604.61M over the same period.

Lebanon’s top three import destinations in April 2017 were China, Greece, and Italy with shares of 9.0%, 8.1%, and 7.5%, respectively.

As for exports, the top products exported from Lebanon were Pearls, precious stones and metals with a stake of 23.25% of the total, followed by Prepared foodstuffs, beverages and tobacco grasping a share of 16.08% of total exports, and Machinery and electrical instruments with a share of 11.19% of the total.

In details, the value of Pearls, precious stones &metals rose from $149.84M by April 2016 to $225.02M by Apr. 2017 driven by 42.8% higher volumes and average gold prices that increased from $1,196.72 by April 2016 to $1,231.16 by April 2017. Prepared foodstuffs, beverages and tobacco also recorded an incremental uptick of 0.53% y-o-y to reach $155.58M in the same period. However, the value of Machinery and electrical instruments decreased by 9.48% y-o-y to $108.26M in the first four months of 2017.

The top three export destinations in April 2017 were: South Africa with 13%, followed by Syria with a 10% stake, and the UAE with a 9% share of exported goods.

In April 2017, the deficit narrowed by 14.39% y-o-y, to stand at $1.17B, as exports marginally fell by 0.13% to $235.37M and Imports declined by 12.3% to $1.41M.

Trade deficit by April (in $B)

 Lebanon’s Trade Deficit Marginally Widened by a yearly 0.63% in the First Four Months of 2017

Source: Lebanese Customs

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