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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