Complex Made Simple

Lebanon’s trade deficit falls to $11 billion by September

Smaller deficit caused due to decline in imports by 15.9 per cent and exports by 11 per cent

Lebanon’s trade deficit shrank by 17 per cent yearly to reach $11 billion by September 2015, according to Lebanese customs.

The smaller deficit came about as imports declined by 15.9 per cent in the first nine months of this year to reach $13.2bn and exports declined by 11 per cent to $2.2bn, reports UAE-based Aliqtisadi.

The decline in imports was a result of the decrease in the euro exchange rate and the decline in oil prices, which dominated the contraction in exports by $267 million to $2.23bn.

China ranked first on the list of countries exporting to Lebanon, with its exports bill amounting to $1.58bn up to September 2015, accounting for 11.96 per cent of the total.

Saudi Arabia topped the list of countries importing from Lebanon, with the imports bill amounting to $275 million, accounting for 12.33 per cent of total Lebanese exports.

($1 = AED3.67, at the time of publishing)