Lebanon globally vulnerable with a very low 22% export to import coverage

Lebanon ranked 115 among 218 world countries and 14 among 20 Arab states in terms of commodity export value in the year 2015, as published by the United Nations Conference on Trade And Development (UNCTAD). The total value of Lebanese exports stood at US Dollar 4 billion in 2015, recording a fall by 12.5% from USD 4.6 in 2014, and 29.4% from a peak of USD 5.7 billion in 2011. On the other hand, and according to UNCTAD figures, Lebanon ranked 77 globally and 12 in the Arab world in terms of imports. Likewise, the total value of Lebanese imports amounted to USD 18.4 billion down by 12.8% from USD 21.1 billion in 2014 and 16.3% from a peak of USD 22 billion in 2013. Based on the above figures, one can conclude that the overall deficit in the trade balance of Lebanon has reached USD 15 billion in 2015, while the coverage of imports by exports was as low as 21.7%. (Al Mustaqbal, May 19, 2016)