Lebanon's trade deficit widens
Lebanon’s trade deficit widened 19 percent year-on-year to $11.57 billion during the first eight months of 2012, according to data released by the Customs Department.
The value of imports jumped by 14 percent year-on-year to $14.4 billion while exports slid by 2.35 percent to $2.83 billion. The value of Lebanese imports continued to be boosted by the 71 percent annual spike in the value of mineral products to $4.22 billion.
The volume of imported mineral products increased by 32 percent to 5.64 million tons in the first eight months of 2012, while international oil prices rose from $88.8 per barrel to $96.5 per barrel between August 2011 and August 2012. The value of imported food products climbed 5.45 percent to $2.19 billion, while their value expanded 7.25 percent to 1.87 million tons.
- Impetus from within: why the Arab World needs a very Arab 'Marshall Plan'
- 'Fiscal juggling': just how many economic priorities will Saudi Arabia's new King have to focus on?
- Despite Erdogan's 'harsh rhetoric', Turkish-Israeli is still booming
- UAE is best MidEast economy for attracting talent, index says
- The Arab Spring's success story: what will it take for Tunisia to unlock its full economic potential?