Lebanon’s industrial exports decline 9.5 pct in first seven months

Industrual minister Vrej Sabounjian (right). Photo by Mahmoud Kheir

BEIRUT: Lebanon’s industrial exports fell 9.5 percent in the first seven months of 2012 compared to the same period last year, a report by the Industry Ministry said. Industrial exports totaled $1.744 billion compared to $1.927 billion a year earlier.

Declining over 33 percent in July alone, industrial exports reached $205.3 million, around $102 million lower than the same month last year, the report said.

Electric appliances and equipment led industrial exports in July, accounting for $35.3 million followed by metal exports worth $30.5 million. Foodstuff exports reached $29.7 million in the same month.

The biggest decline in exports hit gems and precious metals exports, which fell from $74.5 million in July 2011 to $11.2 in July 2012. Metal crafts also fell from 57.4 million to around $30 million during the same period.

Arab states remain the biggest market for industrial products, accounting for over 58.8 percent of exports. Non-Arab African states imported 12.9 percent followed by Asian states, which imported 12 percent.

Saudi Arabia, Iraq and Syria topped the importers list with 12, 9.6 and 9.4 percent respectively.

A version of this article appeared in the print edition of The Daily Star on September 24, 2012, on page 5.




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