According to the Lebanese Ministry of Industry, the total value of industrial exports during 2018 rose by 2.99% year-on-year (y-o-y) from $ 2.47B in 2017 to stand at $2.55B in 2018. Similarly, on a monthly basis, in December 2018 exports witnessed a 5.80% year-on-year (y-o-y) decline in the value of total industrial exports to stand at $213.8M.
In December 2018, the main exported products were “products of the chemical industries” with a total value of $40.35M recording an increase of 33.8% from $30.14M in December 2017. The main export market for this product was Turkey which accounted for 13.27% of the total, equivalent to $5.35M; followed by Italy and Iraq with $5.22M and $5M respectively.
Exports of “machinery and electrical equipment” came in second place, totaling $37M, down from $42.50M in December 2017. Syria was the largest importer for this category, with an import value of $5.30M, followed by Iraq and Algeria with values of $5.19M and $2.87M respectively.
“Prepared foodstuffs and tobacco”, grasped the 3rd place this year recording an annual decrease of 23.1% with a total value of $31.98M.
Exports of “Base metals and articles of base metal” followed, despite the 39.6% drop in their export value to $21.55M.
In a regional breakdown, the primary importers of Lebanese industrial products in December 2018 were the Arab Countries, the European Countries and with Non-Arab African each grasping a stake of 60.7%, 15.1%, and 11.2% of total exports respectively. In details, United Arab Emirates topped the export market with $24M; Saudi Arabia came second with a total value of $21M followed by Syria with $18.8M.
Main Industrial Exports in December 2017 and 2018 ($ M)
.55B during 2018" width="750" height="451" srcset="https://blog.blominvestbank.com/wp-content/uploads/2019/04/export.png 750w, https://blog.blominvestbank.com/wp-content/uploads/2019/04/export-300x180.png 300w, https://blog.blominvestbank.com/wp-content/uploads/2019/04/export-150x90.png 150w" sizes="(max-width: 750px) 100vw, 750px" />
Source : Ministry of Industry