According to the Lebanese Ministry of Industry, the value of total industrial exports fell from $633.9M in the first three months of 2016, to stand at $596.6M by March 2017.
However, on a monthly basis, the value of total industrial exports rose to $223.9M in March 2017, compared to $211.6M in March 2016.
The main products exported in Mar. 2017 were: Machinery and electrical equipment (19.29% of total industrial exports), of which 15.97% were imported by Iraq. Prepared foodstuffs (18.98% of total) amounted to $42.5M, with Syria importing 14.58% of the products. Turkey alone imported 33.77% of Base metals and articles of base metals (13.62% of total). Products of the chemical industries constituted 12.24% of total industrial exports, of which 15.97% were imported by Iraq, while Pearls, precious or semi-precious stones grasped 9.51% of the total.
In details, Pearls, precious or semi-precious stones, precious metals and articles thereof increased from $9.2M to $21.3M in the same period of 2017. Base metals and articles of base metals recorded a total value of $30.5M in March 2017, up by 27.08% y-o-y. Nevertheless, Prepared foodstuffs and Products of the chemical industries marginally changed from $42.3M and $27.6M to $42.5M and $27.4M, respectively, in March 2017.
On the counterpart, exports of Machinery and electrical equipment declined by 20.44% year-on-year (y-o-y) to stand at $43.2M in March 2017. Even though Syria recorded higher imports on these products, Saudi Arabia, the United Arab Emirates, and Angola registered lower imports of the same products which pulled exports of Machinery down.
The primary export market for the Lebanese industrial products was the United Arab Emirates grasping 14.4% of total exports, followed by Saudi Arabia and Iraq, with the respective shares of 12.3% and 8.7% of total exports.
As for imports of Machinery and Industrial Equipment, they declined by an annual 19.4% to stand at $20.2M in Mar.2017. The imports of Machinery for food industries ranked first, with a value of $2.6M, of which $1.1M were imported from Italy. Machines used in packaging accounted for $1.8M, of which $0.7M were imported from Italy too.
Main Industrial Exports in March 2017 compared to March 2016 (in $M)
Source: Ministry of Industry