Saudi-Lebanese trade is set to increase this year as Saudi Arabia imported from Lebanon $62 million worth of goods in the first nine months of 2001, nearing 10 percent of total Lebanese exports during that period. The kingdom's imports from Lebanon, however, do not exceed 0.23 percent of total Saudi imports.
Lebanese total imports increased by 14 percent to $5.234 billion in the first nine months of 2001 compared with the corresponding period of the previous year, recorded the Lebanese Bank Association. Lebanon receives 9.7 percent of it imports from Italy, 8.8 percent from France, 8.4 percent from Germany and 7.2 percent from the United States, reported Al-Sharq Al-Awsat.
Lebanese exports increased by 18.5 percent to $628 million in the first nine months of the 2001 compared with the corresponding period of the previous year. Lebanon exports 10 percent of its goods to Saudi Arabia, 7.7 percent to the United States, 7.5 percent to the UAE and 7.3 percent to Switzerland.
Saudi Arabia was Lebanon's main export destination in 2000 as well, accounting for nearly 11 percent or $77 million of total exports, while Lebanon imported $164 million worth of goods form the kingdom in 2000. — (menareport.com)
© 2001 Mena Report (www.menareport.com )