Cement deliveries contracted by an annual 2.21% by the end of 2017, to stand at 5.15M tons compared to 5.27M tons by end 2016. In addition, the six-month moving average of the number of cement deliveries slid by 0.23% year-on-year (y-o-y), to settle at 459,987 tons by December of 2017.
Nonetheless, on a monthly basis, cement deliveries grew from 296,521 tons in December 2016 to 426,543 tons in December 2017 alone. The higher demand on cement in the last month of 2017 may be linked to buying larger quantities as the VAT was expected to climb to 11% from 10% on January 1, 2018.
Total Monthly Cement Deliveries
Source: Banque du Liban