According to the Lebanese Ministry of Industry (MoI), the value of total industrial exports declined to $179.9M in January 2019, compared to $187M in January 2018.
In details, exports of “Machinery and electrical equipment” (19.9% of total exports) increased from $33.8M in Jan. 2018 to $35.9 in Jan. 2019, of which Iraq imported the lion’s share adding up to 28.4%. In turn, the value of industrial exports for “Prepared foodstuffs and tobacco” over the same period, rose by a yearly 3.5% to $28.2M of which 13.8% were imported by Saudi Arabia.
Meanwhile, the value of “Products of the chemical industries” (17.5% of total exports) fell by an annual 16.6% to $31.46M in Jan. 2019 of which Italy imported 17%. Similarly, “Base metals and articles of base metal” (12.4% of total exports) shrank from $38.5M in Jan. 2018 to $22.4M in Jan. 2019, with top importer Korea grasping 11% of the components’ exports.
In addition, the MoI data revealed a significant uptick in the value of “Pearls, Precious or semi-precious stones, precious metals and articles thereof” (5.9% of total exports). These last climbed from $5.3M in Jan. 2018 to $10.5M in Jan. 2019, of which 25% were exported to the UAE. Moreover, new entries like Thailand, importing 5.9% of total pearls made it on the list in Jan.2019, while imports by Saudi Arabia and the USA increased remarkably to $982k and $949k, respectively.
Primary export markets for the Lebanese industrial products were the United Arab Emirates, Iraq, and Saudi Arabia, with the respective shares of 10.2%, 9.1% and 7.8% of total exports.
As for imports of Machinery and Industrial Equipment, they rose by an annual 18.6% to stand at $28.5M in Jan. 2019. The imports of “Machinery for packaging” ranked first, with a value of $4.4M, of which $3.2M were imported from Italy. “Machines for food industry followed, totaling $4.4M, of which $1.7M were also imported from Italy.
Main Industrial Exports in January 2018 and 2019 (in $M)
Source: Ministry of Industry