LEBANON, 35% IMPORT INCREASE IN INDUSTRIAL EQUIPMENT
Italy was the main source of industrial equipment and machinery imports with $ 4.5m and accounted for 23.8% of the total covered month, followed by Germany with $ 4.3m (22.7%) and China with $ 3.1m (16.8%). The total of imports of industrial equipment and machinery reached $ 42.8m in the first two months of 2018, up by 35% from $ 31.7m in the same period of 2017. Italy was the main source of such imports and accounted for 27.7% of the total in the first two months of 2018, followed by Germany with 21.3% and China with 15.1%. Further, imports of industrial equipment and machinery amounted to $ 18.8m in February 2018, up by 75.6% from $ 10.7m in the same month of 2017.
Figures released by the Ministry of Industry show that industrial exports totaled $ 390.4m in the first two months of 2018, constituting an increase of 4.7% from $ 372.7m in the same period of 2017. Industrial exports reached $203.4 in February 2018, up by 8.8% from $ 187m in the preceding month, and by 3.4% from $ 196.8m in February 2017.
On a country basis, Saudi Arabia was the main destination of Lebanese industrial exports and accounted for 8.3% of the total in the covered period, followed by Turkey with 8.2%, the UAE with 7.5%, Iraq with 7% , Syria with 5.4% and Qatar with 5.2%. In February 2018, 10 Arab States, 10 European economies, seven African countries, five Asian economics, three countries in the Americas and one country in Oceania imported $ 1m or more each of Lebanese industrial products.