Real GDP for 2013 Predicted to Have Grown by 3%

The Central Administration of Statistics (CAS) released the Lebanese National Accounts Reports for 2012-2013, where Real GDP is predicted to have grown by 3% in 2013, compared to 2.8% in 2012 and a revised 0.9% in 2011. Nominal GDP is valued at LBP 71.19T ($47.22B) in 2013 and LBP 66.50T ($44.11B) in 2012. CAS estimated inflation at 3.9% in 2013 and 7.1% in 2012, as measured by the GDP deflator. “Transport activity” recorded the highest real growth of 14% during 2013, followed by “Manufacturing of food products” and “Textile and leather”, with respective rises of 10% and 8%. In contrast, “Hotels and restaurants” registered the biggest drop of 5%. “Agriculture and forestry” came next declining by 3%, while “Chemicals, rubber and plastic” fell by 1% in 2013. The Lebanese economy is still led by “Commercial trade and motor vehicle repairs”, and by “Real estate activities” with each accounting for 14% of GDP. Real estate in 2013 registered an increase of 6% during 2013, after remaining constant in 2012.

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