Lebanon’s industrial exports fall in Jan-Sept period

According to media reports, Lebanon’s industrial exports fell by 15.7% to $1.897 billion in the January-September period of this year when compared to $2.249 billion in the same period of last year. The decrease was attributed to the Lebanese manufacturers’ higher costs compared to neighboring rivals, which make their materials expensive, as well as the closure of the borders between Lebanon and the rest of the Arab countries due to the political tensions in the region.

In September, the country’s industrial orders posted a larger decrease of 24% on the year to $184.3 million compared to $242.5 million in the same month of 2015.

The recent data released by the Industry Ministry showed that electrical equipments held the largest share in the industrial exports with $47.3 million; it was followed by chemical industries with $31.2 million, food products with $30.7 million and metals with $16.2 million.

Arab countries were the largest importers of Lebanese goods with imports worth $107.6 million and a share of 58.4%. They were followed by European countries with 13.9%, African non-Arab countries with 11.9% and Asian non-Arab countries with 8.8%.