Lebanon » Business
Statistics
- GDP: US$39.25 billion (2010).
- Main Exports: Authentic jewellery, inorganic chemicals, consumer goods, fruit and tobacco.
- Main Imports: Petroleum products, cars, medicinal products, clothing, meat and live animals.
- Main Trade Partners: Switzerland, United Arab Emirates, Iraq, Saudi Arabia, Syria
Economy
Beirut's position as a major financial and commercial centre for the Middle East was lost during the 16-year civil war that ended in 1990. Since then, despite more political unrest, both Lebanon and its capital have re-established themselves.
Agriculture now accounts for about 10% of GDP. There are no significant mineral resources, but the manufacturing industry is growing rapidly. Banking and transit trade (both of which were almost wiped out during the civil war) have also recovered.
The 2006 conflict between Hezbollah and Israel led to a collapse of the tourist industry and severely affected Lebanon's economy, which contracted by 5%. The national debt reached a record level of US$40.4 billion and a fifth of the population was unemployed. Latest economic forecasts for the country are more optimistic; due to its tightly controlled banking system, Lebanon was affected to a lesser extent that most countries by the financial crisis of 2008-2010.
Etiquette
Office Hours
Mon-Fri 0800-1330 and 1500-1800. Government office hours:Mon-Thurs 0800-1400, Fri 0800-1100, Sat 0800-1300.
Business Contacts
Euro Info Correspondence Centre (EICC)PO Box 11-1801,1 Rue Justinien, Beirut , Lebanon
Beirut
Tel: (1) 744 163
Website: http://www.euroinfocentre.net
Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon
PO Box 11-1801,1 Rue Justinien, Beirut , Lebanon
Beirut
Tel: (1) 353 390
Website: http://www.ccib.org.lb
Ministry of Economy and Trade
Artois Street, Beirut , Lebanon
Beirut
Tel: (1) 981 941
Website: http://www.economy.gov.lb
Back to Lebanon
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Information in this section was last updated: Fri Apr 12 2013
