Lebanon's seven-month trade deficit widens 4% on higher imports
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Wed September 7, 2011 10:00 am

LEBANON. Lebanon’s trade deficit widened by 4% in the first seven months from a year earlier on higher imports, the Finance Ministry said.

The shortfall was US$8.37 billion from US$8 billion, the Beirut-based ministry told Bloomberg in an e-mailed statement late yesterday.

Imports rose 5% to US$10.9 billion, driven by a 52% gain in the cost of unwrought gold, un-mounted diamond and precious metals, while pharmaceutical products increased by 19%, according to the ministry.

Exports increased 5% in the first seven months from the year-earlier period to US$2.5 billion as shipments to Arab countries fell.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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INTERNATIONAL. In his latest interview with The Gold Report, the 321gold.com founder delivers a frank overview of U.S. international policy and lambasts commentators who look to their tea leaves in search of the next market moves.
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INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
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UAE. GCC corporate earnings strength intact; Regional bonds unaffected by global shocks; Central Banks support financial markets.
INTERNATIONAL. If Russia's "pivot to Asia" results in Moscow and Beijing trading oil between them in a currency other than the dollar, that will represent a major change in how the global economy operates and a marked loss of power for the U.S. and its allies."
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