Imports/Exports in Lebanon

Overview by Globlatrade.net:

Lebanon has strengthened its openness to international trade by signing an Association Agreement with the EU, by working toward accession to the WTO, and by signing a free-trade agreement with the Gulf Cooperation Council (GCC) in May 2004. According to half-year figures published by the Lebanese Higher Council for Customs, the total value of imports and exports reached almost 11 billion USD at the end of June 2010, an increase of around 12% compared to the level reached at the end of June 2009. The current share of foreign trade in the country’s GDP is around 65%. Its three main export partners are Iraq, Switzerland, and Syria. Lebanon mainly exports pharmaceutical products, textiles, tobacco, pearls & precious stones, electric & electronic equipment, iron & steel, salt, sulfur and machinery. Its three main import partners are Italy, France and Germany. The country mainly imports mineral fuels, oil, vehicles, machinery, pearls & precious stones, electric and electronic equipment. In the first half of 2010, the trade deficit reached 9.8 billion USD, an increase of 12% which reflects a certain vigor of domestic demand.

 
Foreign Trade Indicators 20062007200820092010
Imports of Goods (million USD) 9,64712,25116,75416,57418,460
Exports of Goods (million USD) 2,8143,5744,4544,1875,021
Imports of Services (million USD) 8,7209,97313,44514,301-
Exports of Services (million USD) 11,56512,74417,55816,869-
Imports of Goods and Services (Annual % Change) -3.218.516.96.5-
Exports of Goods and Services (Annual % Change) -2.613.913.75.3-
Imports of Goods and Services (in % of GDP) 42.148.253.747.0-
Exports of Goods and Services (in % of GDP) 21.323.024.622.3-
Trade Balance (million USD) -6,115-7,880-11,010-11,179-
Trade Balance (Including Service) (million USD) -3,304-4,843-5,677--
Foreign Trade (in % of GDP) 63.471.278.369.3-

Source: WTO - World Trade Organization ; World Bank

 

Main Partner Countries

Main Customers
(% of Exports)
2009
Switzerland 22.3%
United Arab Emirates 9.6%
Iraq 7.8%
Saudi Arabia 7.0%
Syria 6.5%
Other partnersClose extended list 46.9%
Main Suppliers
(% of Imports)
2009
United States 10.9%
France 9.7%
China 8.9%
Germany 7.6%
Italy 7.5%
Other partnersClose extended list 55.4%

Source: Comtrade

 

Main Products

Main Exports
(% of Exports)
2009
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 24.2%
Diamonds, whether or not worked, but not mounted...Diamonds, whether or not worked, but not mounted or set (excl. unmounted stones for pick-up styluses, worked stones, suitable for use as parts of meters, measuring instruments or other articles of chapter 90) 4.3%
Electric generating sets and rotary convertersElectric generating sets and rotary converters 3.0%
Ferrous waste and scrap; remelting scrap ingots of...Ferrous waste and scrap; remelting scrap ingots of iron or steel (excl. slag, scale and other waste from the production of iron or steel; radioactive waste and scrap; fragments of pigs, blocks or other primary forms of pig iron or spiegeleisen) 2.6%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old) 2.6%
Other productsClose extended list 63.3%
Main Imports
(% of Imports)
2009
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 18.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 9.0%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 4.2%
Powered aircraft "e.g. helicopters and aeroplanes"...Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. satellites, and suborbital and spacecraft launch vehicles 2.8%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 2.8%
Other productsClose extended list 62.7%

Source: Comtrade

 

Exchange Rate System

Exchange Rate Regime
Free capital, interests and dividends transfers with no limitation or control.
Level of Currency Instability
There are no particular regulations concerning currency exchange.
 
 
Monetary Indicators 20042005200620072008
Lebanese Pound (LBP) - Average Annual Exchange Rate For 1 USD 1,507.501,507.501,507.501,507.501,507.50

Source: World Bank

 
 

Any Comments About This Content? Report It to Us.

Read more See less

No content has been posted to this folder yet.
Be the first to feature your expertise related to Imports/Exports in Lebanon!

  • Post any content you may have that features your expertise, such as a text article with business tips, presentation, market report, etc
  • By sharing your knowledge you gain more visibility for your profile not only on GlobalTrade.net but across the web

Post your content now by simply clicking on the button below.

Check these folders already populated with content posted by other users:

Click here to find out more about key benefits and instructions for contributing to the site.

POST CONTENT

Post any content you may have that features your expertise and offers valuable information to the international trade community.

The more informative content you post the more visible your will be, as your valuable content will link directly to your profile.

Check these sample pages for illustration: