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.