News dalla rete ITA

6 Luglio 2020

Libano

TRADE DEFICIT DOWN BY 50% YOY AT $2.59B BY APRIL 2020

In the first 4 months of 2020, Lebanon’s trade deficit totaled $2.59B, narrowing from the $5.18B registered in the same period last year. In fact, total imported goods retreated by 41.7% year-on-year (YOY) to $3.67B by April 2020. This may be attributed to the national foreign currency shortage and currency deterioration, as the country grapples with an ongoing economic and financial crisis. Meanwhile, Lebanon’s total exports declined 3.3% YOY to $1.08B by April 2020.In term of value, the “Mineral products” grasped the lion’s share of total imported goods with a stake of 31.46%. “Products of the chemical or allied industries” ranked second, composing 14.05% of the total while “Pearls, precious stones and metals” and “Vegetable Products” grasped the respective shares of 7.93% and 7.04%, respectively.In details, Lebanon imported $1.16B worth of “Mineral Products”, compared to a value of $1.85B in the same period last year. In fact, the net weight of imported “mineral fuels, oils and their products” decreased since last year and witnessed a yearly drop from 3,020,419 tons by April 2019 to reach 2,276,248 tons by April 2020. Worth mentioning that the volume of mineral products is expected to decrease further in the upcoming months especially if the central bank stops covering the import of essential goods at the official exchange rate.In turn, the values of “Products of the chemical or allied industries”, “Vegetable Products” and “Pearls, precious stones and metals “recorded yearly drops of 23.92%, 3.58% and 2.79% to settle at $516.44M , $297M and $291.46M, respectively.By April, the top three import sources were Greece, Turkey and Italy grasping the respective shares of 8.35%, 7.15% and 7.04% of the total value of imports. (ICE BEIRUT)


Fonte notizia: Blom Invest Bank