Content. Introduction. Part I: The Lebanese Macroeconomy. 1. Gross Domestic Product. 2. Monetary Situation. 3. Banking Sector. 4. Balance of Payments
|
|
- Aubrey Jefferson
- 5 years ago
- Views:
Transcription
1
2 Content Introduction Part I: The Lebanese Macroeconomy 1. Gross Domestic Product 2. Monetary Situation 3. Banking Sector 4. Balance of Payments 5. Public Finance 6. Financial Markets 7. Foreign Trade 8. Consumer Price Index Part II: Major Economic Activities 2
3 Introduction GDP growth rate was estimated at 2% in 2014, and is expected to slightly increase to 2.2% in Lebanon has been affected by the ongoing Syrian crisis and unstable security in the region. These issues, in addition to political unrest, have affe ted the ou try s e o o i a ti ity i. This was revealed in the low and diminishing rates of some major economic indicators. The settlement of Syrian refugees has also inflicted an additional burden on the economic situation, whether on the services sector (water, electricity, transportation) or on the price level, which was affected by the growing demand on goods and housing. Due to the increase in government revenues over expenditure, the budget deficit-to-gdp ratio decreased from 10.3% in to 7.4% in Moreover, the debtto-gdp ratio increased from 135% to 139% between and The government s expenditure-to-gdp ratio decreased from 34.2% in to 33.5% in However, the revenues-to-gdp ratio grew from 23% in to 26.2% in The Lebanese banking sector again proved to be strongly resistant to the surrounding political and economic turmoil. This is due to the se tor s high redi ility among depositors and investors. The se tor s total assets i reased by 6.6% and deposits increased by 6.1% in Furthermore, loans to the private sector increased by 7.4% and foreign deposits steadily improved by 2.2% during Nevertheless, tourism activity improved by 6.3% based on the total number of visiting tourists in 2014 and the total number of arriving and departing passengers increased by 4.8%. Moreover, the number of containers accessing Beirut port during 2014 increased by 15% and construction permits also rose by 4.8%. 3
4 Part I The Lebanese Macroeconomy 4
5 1. Gross Domestic Product Economic growth rate was close to 2% in 2014, which raised real GDP up to around 41.6 billion USD compared to 40.8 billion USD in. The debt-to-nominal GDP ratio was estimated at 139%, higher than the ratio due to the significant increase in debt and the minor change in nominal GDP. ϮϬϭϬ ϮϬϭϭ ϮϬϭϮ ϮϬϭϯ ϮϬϭϰ Nominal GDP (Billion..... Real GDP, 2010 Fixed (Billion Growth Rate (%) Change in Prices (%) Inflation (%) Public Debt (Billion Debt / Real GDP (%) % % % % % Debt / Nominal GDP (%) 137% 134% 131% 135% 139% Source: Central Administration of Statistics, Prepared by Chamber of Beirut & Mount Lebanon Capital Inflows: The value of capital inflows decreased from 16.2 billion USD in to 15.8 billion USD in 2014, which represents a drop of 2.5%. Notably, these inflows nearly reached 17 billion USD in
6 Capital inflows include transfers from abroad, in addition to the increase in the value of foreign assets, and foreign direct investment Capital Inflows Balance of Payments Trade Deficit Source: Lebanese Central Bank, Customs - Prepared by Chamber of Beirut & Mount Lebanon Transfers from Abroad: The World Bank estimated transfers from abroad at 7.7 billion USD in 2014, a rise of 1.3% from 7.6 billion USD in. The value of transfers from abroad reached around 6.9 billion USD in 2011 and The foreign transfers-to-gdp ratio was equal to 16.1% in and This ratio was equal to 17.2% in 2011 and 15.6% in
7 2. Monetary Situation In 2014, money supply increased according to the following rates: M1: 8.9% M2: 6.8% M3: 5.9% M4: 6.2% M1 (billion LBP) M2 (billion LBP) M3 (billion LBP) M4 (billion LBP) Foreign currency in M3 (%) Source: Lebanese Central Bank - Prepared by Chamber of Beirut & Mount Lebanon The reasons behind these changes are the increase in money transactions by 7%, the increase in LBP demand deposits (10.5%) and other LBP deposits (6.5%), and the slight increase in foreign currency deposits (5.3%), which led to a drop in the foreign currencies proportion of the M3 to 58.6%, down from 59% in. Other reasons for the change in money supply include the increase in the central bank deposits of private banks by 19.4%, and the change in foreign currency assets and gold reserves by +2.2% and -1.4% respectively. 7
8 (Billion Foreign Assets Gold Foreign Currencies Change (%) Source: Lebanese Central Bank - Prepared by Chamber of Beirut & Mount Lebanon 8
9 3. Banking Sector Ba ks group Alpha it essed a. % i rease in profits, which reached 1.9 billion USD in This increase in profits came despite a difficult environment due to the weak economic growth and surrounding conflicts. By the end of 2014, total assets in the banking sector summed up to billion USD, of which 57.4% were loans and central bank deposits. Deposits in Lebanese banks were equal to 63.5 billion USD by the end of Around 19.2 billion USD was the value of excess liquidity among private banks. Despite these inflows, the banking sector held high liquidity and avoided insurance risks. Banks have avoided raising private sector loans, in accordance with the increasing deposits. By the end of 2014, deposits reached billion USD, whilst loans to the private sector reached 50.9 billion USD and loans to the public sector summed up to 37.4 billion USD. The private loans-to-deposits ratio was equal to 34.5%, while the public loans-to-deposits ratio was 25.3%. (Billion Total Assets Total Deposits Private Sector Loans Ratio to Deposits (%) 32.1% 33.5% 34.1% 34.3% 34.5% % 24.8% 24.4% 26.3% 25.3% Public Sector Loans Ratio to Deposits (%) Source: Lebanese Central Bank, Association of Banks in Lebanon - Prepared by Chamber of Beirut & Mount Lebanon 9
10 Loans were distributed among different sectors according to the following figures: Trade and services: 34.3% Individual: 28.5% Construction: 16.8% Industrial: 11.1% Financial Intermediaries: 5.6% Agriculture: 1.2% Others: 2.6% Following an increase of 8.5% in, the a ki g se tor s total assets increased by 6.6% in Distribution of Loans (Billion LBP) Sep Trade & Services Construction Industry Individuals Financial Institutions Agriculture Others Total Housing Loans Source: Lebanese Central Bank, Association of Banks in Lebanon - Prepared by Chamber of Beirut & Mount Lebanon 10
11 Banking activity was characterized by: An increase in total deposits by 6.1% A 7.4% increase in private sector loans. A 0.9% drop in loans to the public sector. An increase in bank reserves by 3.6%. An increase in the interest rate on LBP deposits from 5.44% in to 5.56% in 2014, and on LBP loans from 7.29% to 7.49%. An increase in the interest rate on USD deposits from 2.95% in to 3.07% in 2014, and on USD loans from 6.88% to 6.97%. Subsidized Loans The value of subsidized loans reached trillion LBP during the period These loans include: Medium and long-period loans (6.585 trillion LBP) Kafalat loans (1.884 trillion LBP) European Investment Bank loans (204 billion LBP) Leasing loans (189 billion LBP) 11
12 International Finance Corporation loans (80 billion LBP) Operating capital loans (16 billion LBP) French Development Agency (AFD) loans (7 billion 12
13 4. Balance of Payments Le a o s ala e of pay e ts posted a defi it of. illio U D i, compared to a deficit of billion USD the previous year; an increase of 24.8%. In the period between 2000 and 2010, the Central Bank of Lebanon recorded a rise in net foreign assets amounting to 8.7 billion USD in 2009, while banks also recorded 2.9 billion USD of net foreign assets in Change in Foreign Assets (Million Central Bank Banks Total Source: Lebanese Central Bank - Prepared by Chamber of Beirut & Mount Lebanon 13
14 5. Public Budget Public Debt Le a o s pu li de t rea hed. illio U D i,. % up fro. billion USD in. The local currency debt formed 62% of public debt in 2014 (59% in ), versus a 38% foreign currency debt (41% in ). If we exclude public sector assets, the net debt would be equal to 57.3 billion USD for 2014, which an increase from 53.2 billion USD in. s in Billion USD Domestic Debt % 61% 58% 59% 62% % 39% 42% 41% 38% Proportion (%) Foreign Debt Proportion (%) Total Debt Source: Ministry of Finance - Prepared by Chamber of Beirut & Mount Lebanon Public debt service reached 4.2 billion USD in 2014, a boost o f 10.5% from. This increase in public debt and public debt service led to an increase in the interest rate applied on the Lebanese public debt. Public Finance Total government spending reached trillion LBP in 2014, compared to trillion LBP in. On the other hand, public revenues reached 16.4 trillion LBP, an increase from 14.2 trillion LBP in. Thus, the deficit was equal to trillion LBP in 2014, a decrease from trillion LBP in. The debt service-to-spending ratio increased from 27.8% in to 30% in 2014, while the debt service-to-revenues ratio decreased from 40.2% in to 38.5% in
15 Public Finance (Billion LBP) Public Expenditure Public Revenue Budget Deficit % -20.1% -29.5% -30.9% -22.0% to-expenditure (%) 34.6% 32.1% 27.2% 27.8% 30.0% to-revenue (%) 46.5% 40.2% 38.5% 40.2% 38.5% Foreign Debt Principal Repayment Primary Surplus/Deficit Proportion (%) Debt Service Source: Ministry of Finance - Prepared by Chamber of Beirut & Mount Lebanon 15
16 Tax Revenues Tax revenues reached trillion LBP in 2014, an increase of 2.7% from trillion LBP in. These revenues formed 70% of public revenues compared to 76% in. On the other hand, non-tax revenues increased by 33.2% from trillion LBP in to trillion LBP in Non-tax revenues formed around 30% of total revenues in Public Revenues (Billion LBP) % 2014 % Total Revenues 13, % 14, % Tax Revenues 10,116 76% 10,388 70% Customs 2,158 21% 2,042 20% -Added 3,296 33% 3,302 32% Others 4,662 46% 5,044 49% 3,269 24% 4,354 30% 2,156 66% 3,034 70% Non-tax Revenues Communications Revenues Source: Ministry of Finance - Prepared by Chamber of Beirut & Mount Lebanon 16
17 6. Financial Markets Political and security events in the Middle East have badly affected many Arab countries including Lebanon. These circumstances weakened the Lebanese economic and financial situation between 2011 and. However, the performance of Beirut Stock Exchange improved throughout The volume of traded stocks increased by 88.3%, from 51.4 million stocks in to 96.8 million in Whereas, the value of these traded stocks rose by 76.2%, from million USD to million USD between and Solidere A and Solidere B stocks formed around 16.7% of market capitalization in 2014, while banking sector stocks formed a majority of 80.1%. Other stocks accounted for 3.3% and were divided between the industrial and trade sectors. Moreover, the value of traded stocks was divided as follows: Development and Construction 13.7%, Banking 86.1 %, Industrial 0.1%, and Trade 0.1%. 17
18 Volume of traded shares (Million Shares) of traded shares (Million Market Capitalization (Million Source: Beirut Stock Exchange - Prepared by Chamber of Beirut & Mount Lebanon Distribution of Shares in 2014 Volume of traded shares (Million Shares) of traded shares (Million Market Capitalization (Million Construction & Development Banking Industrial Trade Total Source: Beirut Stock Exchange - Prepared by Chamber of Beirut & Mount Lebanon The value of traded stocks in 2014 formed 6% of market capitalization, an increase from recent levels: 4% in 2012 and, and 5% in
19 7. Foreign Trade In 2014, Lebanese imports were equal to billion USD, while exports reached billion USD. This generated a deficit of around billion USD in the trade balance, a 3% increase compared to the 2012 trade deficit, which was equal to billion USD. The value of imports dropped by 3.5% between and At the same time, total exports decreased by 15.8%. Accordingly, the exports-to-imports percentage dropped from 18.5% in to 16.2% in Trade Balance between 2010 and Exports Imports Trade Balance Exports to (Million (Million (Million Imports)%( ,253 17,964-13, % ,265 20,158-15, % ,483 21,280-16, % 3,936 21,228-17, % ,313 20,494-17, %
20 Saudi Arabia led the list of Lebanese exports destinations in 2014, receiving around 11% of total exports. The UAE was another major exports destination (10%), followed by South Africa (9%), Iraq (8%), and Syria (7%). These countries combined received 45% of Lebanese exports. Lebanese Exports Destinations in 2014 Raking Country Percent of Total (%) 1 Saudi Arabia 377, ,301 11% 2 UAE 319, ,236 10% 3 South Africa 297, % 4 Iraq 255, ,873 8% 5 Syria 242, ,467 7% 6 Turkey 144, ,852 4% 7 Jordan 129, ,987 4% 8 Qatar 93,474 55,775 3% 9 Switzerland 86, % 10 Egypt 83, ,313 3% Other Countries 1,281, ,202 38% Total 3,312,855 2,236, % Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 20
21 On the other hand, China led the list of major sources of Lebanese imports (12%), followed by Italy (8%), France (6%), Germany (6%) and USA (6%). Lebanon received 38% of its imports from these 5 countries. Sources of Lebanese Imports in 2014 Ranking Country (1000 kg) Percent of Total (%) 1 China 2,483,895 1,657,593 12% 2 Italy 1,644,650 1,072,201 8% 3 France 1,274, ,995 6% 4 Germany 1,256, ,879 6% 5 USA 1,226, ,227 6% 6 Russia 887,304 1,363,207 4% 7 Greece 816,312 1,121,335 4% 8 Turkey 705, ,117 3% 9 Belgium 604, ,308 3% 10 United Kingdom 537, ,912 3% Other Countries 9,056,187 7,058,828 45% 20,493,725 15,451, % Total Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon The imports of mineral fuels and their derivatives constituted about 23% of total Lebanese imports in 2014, a slight decrease from 24% in. Cars and vehicles accounted for 7% of total imports. Other imports such as machinery and appliances, pharmaceutical products and jewelry formed 6%, 6%, and 5% respectively. 21
22 Jewelry formed the major Lebanese export item in It made up 16% of total exports, while machinery and appliances accounted for 7%, which also applied to electronics. Other exports include plastic and derivatives, fruits and vegetables, and printed items, where each made up 4% of exports. Classification of Major Lebanese Imports in 2014 Customs Chapter Major Lebanese Imports Proportion (%) 27 Mineral Fuels and derivatives 4,747,161 5,670,024 23% 87 Cars and Vehicles 1,473, ,458 7% 84 Machinery and Mechanical Appliances 1,266, ,864 6% 30 Pharmaceutical Products 1,140,898 9,827 6% 71 Jewelry 975,850 1,283 5% 85 Electronics 921,791 80,543 4% 72 Iron and Steel 813,665 1,390,176 4% 39 Plastics and articles thereof 695, ,479 3% 4 Dairy Produce and Honey 401,949 85,064 2% 1 Live Animals 367, ,849 2% Products Other 7,690,237 7,400,035 38% Total 20,493,725 15,451, % Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 22
23 Classification of Major Lebanese Exports in 2014 Customs Chapter Major Lebanese Exports Proportion )%( 71 Jewelry 541, % 84 Machinery and Mechanical Appliances 223,376 40,477 7% 85 Electronics 221,770 25,168 7% 39 Plastics and articles thereof 130,593 49,997 4% 20 Preparations of vegetables and fruit 127,738 65,817 4% 49 Printed books, newspapers, etc 124,524 52,784 4% 33 Essential oils and resinoids 115,071 18,949 3% 22 Beverages, spirits and vinegar 101, ,893 3% 74 Copper and articles thereof. 99,688 18,556 3% 72 Iron and steel. 99, ,551 3% Other goods 1,527,490 1,587,727 46% Total 3,312,855 2,236, % Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 23
24 Concerning regional proportions, Arab countries received around 52.4% of total Lebanese exports in 2014 while African (non-arab), European Union and Asian (nonarab) countries received 19.6%, 11.1% and 8.9% respectively. On the other hand, 42.4% of Lebanese imports came from the European Union, while 25.3% of total imports were acquired from Asian (non-arab) countries. Arab countries and North American countries were responsible for 10.8% and 6.1% of total imports respectively. Trade Distribution among Regions in 2014 Region Exports Proportion (%) Imports Proportion (%) 366,958 %. 8,687,127 %. Arab countries 1,735,285 %. 2,220,032 %. Asian countries 294,132 %. 5,194,761 %. Other European countries, %., Former Soviet Union countries, %. African countries, % North American countries, %. Central and South American countries, %., %. South Pacific countries, %., %. Other countries, %., %. European Union countries Total,, %,,, %. %.,, Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 24,.. %., %. %.
25 8. Consumer Price Index A. Central Administration of Statistics By the end of 2014, the CPI (Consumer Price Index) had dropped 0.71% compared to. The Central Administration of Statistics modified the weights in based on an expanded study on the Lebanese consumer basket and prices. CPI Levels Yearly Change (%) December 2014 December s ϮϬϭϯ Food and Beverages 1.29% Alcoholic Beverages and Tobacco 10.69% Clothing and Footwear 19.19% Housing 4.25% Water, gas, and electricity -8.92% Furniture 1.53% Health -0.03% Transport -8.46% Communication % Recreation and Culture 2.10% Education 4.55% Restaurants and Hotels 3.32% Other goods and services 1.67% % Source: Central Administration of Statistics - Prepared by Chamber of Beirut & Mount Lebanon 25
26 B. Center for Research and Consulting CPI increased by 2.04% between December 2012 and December, according to the Center for Research and Consulting. The index is based on 9 indicators (% change in 2014): 26 Clothing and Footwear, % Housing, -5.86% Transport and Communication, -3.98% Health, -3.19% Foods and Beverages, -3.03% Durable goods, -0.35% Education, 8.58% Miscellaneous goods & services, 0% (Stable) Other goods and services, 0.11%
27 December 2014 (%) s Food and Beverages -3.03% 35.40% Clothes and Footwear -8.94% 6.55% Housing -5.86% 6.49% Durable goods -0.35% 8.18% Healthcare -3.19% 9.82% Transportation and Communications -3.98% 14.39% Education 8.58% 12.45% Recreation 0.00% 2.70% Other goods and services 0.11% 4.02% CPI Levels -1.66% % Source: Center for Research and Consulting - Prepared by Chamber of Beirut & Mount Lebanon 27
28 Part II Major Economic Activities 28
29 Major Economic Activities Based on Exports of 2014 Total output in the industrial sector was estimated at 6.8 billion USD and the added value at 2.6 billion USD. Hence, the added value-to-output ratio was 38%, whereas the average output-per-worker was 82.1 thousand USD per year. Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon Small-sized establishments which employ less than 10 employees form the majority of industrial firms with 51.6% of total firms, while occupying 16.6% of total labor. Moreover, 41.3% of firms employ between 10 and 50 workers and 38.1% of the labor force. Medium-sized establishments which employ between 50 and 99 employees form 4.1% of total firms and are occupied by 13.5% of the labor force. 29
30 Establishment Size Very Small Small Medium Large Less than 10 employees employees employees More than 100 employees 2,081 1, , % 41.3% 4.1% 3.0% 100% 13,756 31,598 11,153 26,336 82, % 38.1% 13.5% 31.8% 100% Number of Establishments Proportion (%) Number of employees Proportion (%) Total The food and beverages activity ranked first in terms of the number of establishments (18.2%), workforce (24.9%), output (25.7%), and added value (26.9%). Five major productions, including food and beverages products, constituted around 67.3% of establishments, 62.7% of the workforce, 65.6% of total output, and 67.3% of the value-added. The major industrial exports for 2014 are listed in the following table. Customs Chapter Major Industrial Exports % Food and beverages % Chemical products % Metals % 84 Machinery and equipment % 85 Electrical equipment % 71 Jewelry % 39 Plastics and articles thereof % 49 Books and printed Material % 94 Furniture % 48 Paper and paperboard % Other products % Total % - Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 30
31 1. Food Preparations and Beverages Preparations of fruits and vegetables are listed between chapters 15 and 24 in the customs list of products. These items include: fats, oils, animal and vegetable waxes, in addition to meat and fish Food Preperations and Beverages Production: Proportion to Industry preparations, fruits and vegetables preparations, 27.00% beverages, and tobacco. Food 26.00% preparations and beverages are major Lebanese products. Output exceeds 1.7 billion. Firms engaged in foods 25.00% 24.00% Output Input -Added preparations and beverages production form around 18.2% of total establishments, while labor employed in this activity forms 25% of total labor. Output and value-added form 25.7% and 26.3% respectively of total industrial output and value-added. Food Preparations and Beverages Firms Total Firms Percentage (%) 31 # of Employees Output Input -Added -Added / Output (%) 20,604 1,748,453 1,060, ,748 39% 82, % 6,800, % 4,187, % 2,613, % 38%
32 The value of food preparations and beverages exports rose from million USD in 2010 to 548 million USD in These exports formed around 8.2% of total Lebanese exports in 2010, while this figure doubled to 16.5% by The value of imports also rose from million USD to million USD between 2010 and These imports formed around 7.8% of total imports in an increase from 7.1% in Trade Exchange: Food Preparations and Beverages Exports (Million Imports % (Million % % % % % % % % % % % Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 1- Preparations of Fruits and Vegetables A. Firms: The number of firms engaged in preparations of fruits and vegetables production is 70 establishments which are occupied 3009 employees. Output was estimated at million USD. The value of input was million USD, whereas the value-added was around 74.0 million USD. Hence, the value added-to-output ratio was equal to 37%. 32
33 B. Exports: In 2010, preparations of fruits and vegetables exports were equal to 97 million USD. This value increased to 127 million USD in The weight of these exports increased from 58,269 tons in 2010 to 65,817 tons in Hence, the average price-per-ton of exports increased from 1,664 USD in 2010 to 1,941 USD. Saudi Arabia ranked first among preparations of fruits and vegetables exports destinations in 2014 with 22% of exports, while Syria ranked second with 13%. Other countries include Iraq (10%), USA (7%) and UAE (5%). C. Imports: The value of preparations of fruits and vegetables imports was equal to 62.6 million USD in This value increased to 88.6 million USD in The weight of these imports increased from 48,402 tons in 2010 to 60,473 tons in Accordingly, the average price-per-ton of imports increased from 1,293 USD to 1,465 USD. Around 19% of fruits and vegetables preparations imports are sourced from China. Other sources include Thailand (10%), Saudi Arabia (9%), France (6%), and Egypt (6%). Trade Exchange for Chapter 20: Fruit and Vegetable Preparations Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 33
34 2- Spices A. Firms: The number of firms engaged in spices production is 32 establishments which are occupied by 586 employees. Output was estimated at million USD. The value of input was million USD, whereas the value-added was around 33.6 million USD. Hence, the value added-to-output ratio was equal to 18%. B. Exports: In 2010, spices exports were equal to 3.8 million USD. This value increased to 8.7 million USD in The weight of these exports increased from 874 tons in 2010 to 1,563 tons in Hence, the average price-per-ton of exports increased from 4,312 USD in 2010 to 5,552 USD in Sweden ranked first among spices exports destinations in 2014 with 13% of exports, while the United Kindgom ranked second with 8%. Other countries include Saudi Arabia (7%), USA (7%) and Germany (6%). C. Imports: The value of spices imports was equal to 5.7 million USD in This value increased to 11.1 million USD in The weight of these imports increased from 2,357 tons in 2010 to 4,428 tons in Accordingly, the average price-per-ton of imports increased from 2,438 USD to 2,518 USD. Around 19% of spices imports are sourced from Guatemala. Other sources include Vietnam (16%), China (15%), Syria (10%), and India (9%). 34
35 Trade Exchange for Chapter 9: Spices Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 3- Beverages Beverages production includes the production of alcoholic drinks, wine, canned drinks, and water. A total of 42 establishments are involved in beverages production, occupied by 2498 employees. Total output was equal to 413 million USD, whereas the value of input reached million USD. The value added was equal to million USD, equivalent to 57% of output. Trade Exchange for Chapter 22: Beverages Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 35
36 a. Wine Firms: The number of firms engaged in wine production is 15 establishments which are occupied by 549 employees. Output was estimated at 49.9 million USD. The value of input was 12 million USD, whereas the value-added was around 37.8 million USD. Hence, the value added-to-output ratio was equal to 76%. Exports: In 2010, wine exports were equal to 12.4 million USD. This value increased to 16.6 million USD in The weight of these exports increased from 2,092 tons in 2010 to 2,229 tons in Hence, the average price-per-ton of exports increased from 5,914 USD in 2010 to 7,435 USD in The United Kingdom ranked first among wine exports destinations in 2014 with 31% of exports, while France ranked second with 15%. Other countries include USA (11%), UAE (8%) and Canada (5%). Imports: The value of wine imports was equal to 12.6 million USD in This value remained unchanged in The weight of these imports decreased from 1,138 tons in 2010 to 1,103 tons in Accordingly, the average price-per-ton of imports increased from 11,033 USD to 11,468 USD. Around 83% of wine imports are sourced from France. Other sources include Italy (9%), Spain (2%), and Syria (1%). 36
37 Trade Exchange for Chapter 22-4: Wine Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 37
38 2. Chemical Products Chemical products are listed between chapters 28 and 38 on the Lebanese Customs National Tariff list of products. These include: organic and inorganic chemicals, pharmaceutical products, fertilizers, tanning extracts, essential oils, soap, explosives, 8.00% 7.80% 7.60% 7.40% 7.20% 7.00% Output and other diverse products. Chemical Products Firms Total Firms Percentage (%) Chemical Products Production: Proportion to Industry Input -Added # of Employees Output Input -Added -Added / Output (%) % % % % % 38% The number of firms engaged in chemical production is 193 establishments. Output was estimated at million USD while input reached million USD. The valueadded was equal to million USD, which formed around 38% of output. Chemical products exports Chemical Products Trade Exchange increased from 310 million USD These exports formed around 12% of total Lebanese exports, an increase from 7% in Million USD in 2010 to million USD in Exports Imports
39 Chemical products imports increased from 1.55 billion USD in 2010 to 2.11 billion USD in These imports formed around 10% of total Lebanese imports, a slight increase from 9% in Trade Exchange for Section 6: Chemical Products Exports Imports ( ( % % % % % % % % % % Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 39
40 1- Essential oils and cosmetic preparations A. Firms The number of firms engaged in the production of essential oils and cosmetic preparations is 65 establishments, which are occupied 1615 employees. The output value reached million USD. The value of input was 69.3 million USD, whereas the value-added was around 46.6 million USD. Hence, the value added-to-output ratio was equal to 40%. B. Exports: In 2010, essential oils and cosmetics exports were equal to 58.7 million USD. This value increased to million USD in The weight of these exports increased from 12,145 tons in 2010 to 18,949 tons in Hence, the average price-per-ton of exports increased from 4,834 USD in 2010 to 6,070 USD in Iraq ranked first among essential oils and cosmetics exports destinations in 2014 with 27% of exports, while UAE ranked second with 24%. Other countries include Jordan (15%), Saudi Arabia (11%) and Qatar (3%). C. Imports: The value of essential oils and cosmetics imports was equal to million USD in This value increased to million USD in The weight of these imports increased from 18,278 tons in 2010 to 21,971 tons in Accordingly, the average price-per-ton of imports increased from 8,712 USD to 10,610 USD. Around 29% of essential oils and cosmetics imports are sourced from France. Other sources include Germany (11%), Saudi Arabia (7%), USA (7%), and Italy (6%). 40
41 Trade Exchange for Chapter 33: Essential Oils and Cosmetics Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 2- Fertilizers A. Firms The number of firms engaged in the production of fertilizer products is 4 establishments, which are occupied by 228 employees. The output value reached million USD. The value of input was 75.4 million USD, whereas the valueadded was around 50.9 million USD. Hence, the value added-to-output ratio was equal to 40%. B. Exports: In 2010, fertilizers exports were equal to 98.5 million USD. This value decreased to 72.6 million USD in The weight of these exports increased from 276,649 tons in 2010 to 209,822 tons in Hence, the average price-per-ton of exports decreased from 356 USD in 2010 to 346 USD in Bangladesh ranked first among fertilizers exports destinations in 2014 with 36% of exports, while France ranked second with 18%. Other countries include Brazil (13%), Italy (11%) and Turkey (7%). 41
42 C. Imports: Around 16% of fertilizers imports are sourced from Italy. Other sources include Russia (11%), Belgium (10%), Netherlands (8%), and Turkey (6%). Trade Exchange for Chapter 31: Fertilizers Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 3- Pharmaceutical Products A. Firms: The number of firms engaged in pharmaceutical products production is 13 establishments, which are occupied 726 employees. The output value reached 52.1 million USD. The value of input was 15.1 million USD, whereas the value-added was around 29.6 million USD. Hence, the value added-to-output ratio was equal to 57%. B. Exports: In 2010, pharmaceutical products exports were equal to 16.8 million USD. This value increased to 38.2 million USD in The weight of these exports slightly 42
43 decreased from 937 tons in 2010 to 936 tons in Hence, the average price-perton of exports increased from 17,941 USD in 2010 to 40,828 USD in Saudi Arabia ranked first among pharmaceutical products exports destinations in 2014 with 21% of exports, while Iraq ranked second with 15%. Other countries include Jordan (15%), UAE (13%) and Kuwait (7%). C. Imports: The value of pharmaceutical products imports was equal to million USD in This value increased to billion USD in The weight of these imports increased from 8,331 tons in 2010 to 9,827 tons in Accordingly, the average price-per-ton of imports decreased from 103,164 USD to 116,098 USD. Around 16% of pharmaceutical products imports are sourced from Germany. Other sources include France (13%), USA (10%), Switzerland (9%), and Italy (8%). Trade Exchange for Chapter 30: Pharmaceuticals Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 43
44 3. Iron, Steel and other Metals production The number of firms engaged in metals production is 568 establishments which are occupied by 8863 employees. Output was estimated at 834 million USD. The value of input was 588 million USD, whereas the value-added was around 246 million USD. Hence, the value added-to-output ratio was equal to 29%. Metals (Steel, Iron, and other Derivatives) Firms Total Firms Percentage (%) # of Employees Output Input Added Added / Output (%) % % % % 0.38 Trade Exchange for Section 15: Metals and derivatives Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 44
45 1- Copper: A. Exports: In 2010, copper exports were equal to million USD. This value decreased to 99.7 million USD in The weight of these exports increased from 17,667 tons in 2010 to 18,556 tons in Hence, the average price-per-ton of exports decreased from 5,808 USD in 2010 to 5,372 USD. South Korea ranked first among copper exports destinations in 2014 with 32% of exports, while UAE ranked second with 20%. Other countries include Japan (13%), Greece (10%) and China (6%). B. Imports: The value of copper imports was equal to million USD in This value decreased to million USD in The weight of these imports increased from 13,963 tons in 2010 to 14,497 tons in Accordingly, the average price-per-ton of imports decreased from 7,854 USD to 7,508 USD. Around 35% of copper imports are sourced from Egypt. Other sources include Russia (25%), France (10%), Turkey (8%), and China (6%). Trade Exchange for Chapter 74: Copper Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 45
46 2- Iron and Steel: A. Exports: In 2010, iron and steel exports were equal to million USD. This value decreased to 99.2 million USD in The weight of these exports increased from 527,238 tons in 2010 to 266,551 tons in Hence, the average price-per-ton of exports increased from 357 USD in 2010 to 372 USD. Turkey ranked first among iron and steel exports destinations in 2014 with 82% of exports, while Syria ranked second with 4%. Other countries include Egypt (3%), Qatar (1%) and Netherlands (1%). B. Imports: The value of iron and steel imports increased by 18% between 2010 and Moreover, the weight of these imports increased by 20% between 2010 and The average price-per-ton of imports decreased from 591 USD to 585 USD. Trade Exchange for Chapter 72: Iron and Steel Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon Around 64% of iron and steel imports are sourced from China. Other sources include Ukraine (13%), Turkey (8%), Russia (2%), and Taiwan (2%). 46
47 3- Aluminum: A. Exports: In 2010, aluminum exports were equal to 65.3 million USD. This value increased to 72.5 million USD in The weight of these exports increased from 22,538 tons in 2010 to 29,956 tons in Hence, the average price-per-ton of exports decreased from 2,897 USD in 2010 to 2,419 USD. South Korea ranked first among aluminum exports destinations in 2014 with 16% of exports, while India ranked second with 15%. Other countries include Saudi Arabia (8%), Congo (6%) and Netherlands (5%). B. Imports: The value of aluminum imports increased by 37.9% between 2010 and Moreover, the weight of these imports increased by 22.2%. The average price-per-ton of imports increased from 3,331 USD to 3,759 USD. Around 39% of aluminum imports are sourced from the UAE. Other sources include Jordan (15%), China (9%), Italy (8%), and Egypt (5%). Trade Exchange for Chapter 76: Aluminum Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 47
48 4. Machinery and Equipment A. Firms: The number of firms engaged in machinery and equipment production is 105 establishments which occupy 2122 employees. Output was estimated at million USD. The value of input was million USD, whereas the 4.00% Machinery and Equipment Production: Proportion to Industry value-added was around % million USD. Hence, the value 3.00% added-to-output ratio was 2.50% equal to 30.9%. 2.00% Output Machinery and Equipment Firms Total Firms Percentage (%) Input -Added # of Employees Output Input -Added -Added / Output (%) % % % % % 38% B. Exports: In 2010, machinery and equipment exports were equal to 365 million USD. This value decreased to million USD in The weight of these decreased from 43,485 tons in 2010 to 40,477 tons in Hence, the average price-per-ton of exports dropped from 8,393 USD in 2010 to 5,519 USD. Iraq ranked first among machinery and equipment exports destinations in 2014 with 17% of exports, while Saudi Arabia ranked second with 12%. Other countries include UAE (6%), Egypt (6%) and Germany (6%). 48
49 C. Imports: The value of machinery and equipment imports was equal to billion USD in This value decreased to billion USD in The weight of these imports decreased from 197,197 tons in 2010 to 148,864 tons in Accordingly, the average price-per-ton of imports increased from 6,834 USD to 1600 Machinery & Equipment Trade Exchange Million USD 8,505 USD. Around 26% of machinery and equipment imports are sourced from China. Other Exports Imports sources include USA (11%), Italy (11%), Germany (11%), and the United Kingdom (7%). Trade Exchange for Chapter 84: Machinery and Equipment Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 49
50 5. Electrical and Machinery Apparatus A. Firms: The number of firms engaged in electrical and machinery apparatus production is 83 establishments which occupy 3182 employees. Output was estimated at million USD. The value of input was million USD, whereas 12.00% the value-added was around Electrical Machinery Production: Proportion to Industry 11.00% million USD. Hence, 10.00% the value added-to-output 9.00% ratio was equal to 31%. 8.00% Output Electrical Machinery Firms Total Firms Percentage (%) Input -Added # of Employees Output Input -Added -Added / Output (%) % % % % % 38% B. Exports: In 2010, electrical and machinery exports were equal to million USD. This value decreased to million USD in The weight of these exports decreased from 28,781 tons in 2010 to 25,168 tons in Hence, the average price-per-ton of exports dropped from 13,093 USD in 2010 to 8,812 USD. Saudi Arabia ranked first among electrical and machinery exports destinations in 2014 with 14% of exports, while Iraq ranked second with 12%. Other countries include Nigeria (10%), Syria (9%) and UAE (8%). C. Imports: 50
51 The value of electrical and machinery imports was equal to million USD in This value increased to million USD in The weight of these imports increased from 74,615 tons in 2010 to 80,543 tons in Accordingly, the average price-per-ton of imports Electrical Machinery Trade Exchange increased from 11,011 USD to ,445 USD. Around 36% of electrical and machinery imports are sourced Million USD from China. Other sources 0 Exports Imports include Germany (7%), Italy (7%), United Kingdom (7%), and Republic of Korea (6%). Trade Exchange for Chapter 85: Electrical Machinery Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 51
52 6. Jewelry A. Firms: The number of firms engaged in jewelry production Jewelry Production: Proportion to Industry 2.55% is 66 establishments which 2.50% occupy 1167 employees. 2.45% Output was estimated at million USD. The value 2.40% 2.35% 2.30% Output of input was 99.8 million USD, Input -Added whereas the value-added was around 66 million USD. Hence, the value added-to-output ratio was equal to 40%. Jewelry Firms Total Firms Percentage (%) # of Employees Output Input -Added -Added / Output (%) % % % % 40% 38% B. Exports: In 2010, jewelry exports were equal to billion USD. This value increased to billion USD in 2012 before dropping down to million USD in The weight of these exports decreased from 133 tons in 2010 to 60 tons in, but then it increased to 85 tons in Hence, the average price-per-ton of exports rose from 8.3 million USD in 2010 to 14.3 million USD in 2012, then declined to 6.4 million USD in South Africa ranked first among jewelry exports destinations in 2014 with 54% of exports, while UAE ranked second with 17%. Other countries include Switzerland (14%), Belgium (3%) and Saudi Arabia (2%). 52
53 C. Imports: The value of jewelry imports was equal to billion USD in It reached billion USD in 2011 before decreasing down to million USD in The weight of these imports increased from 1055 tons in 2010 to 1283 tons in Accordingly, the average price-per-ton of imports dropped from 1.1 million USD in 2010 to 761 thousand USD in Jewelry Trade Exchange 2500 imports are sourced from Switzerland, while 28% come from Togo. Other sources of jewelry Million USD Around 29% of jewelry imports include India (10%), Belgium Exports 0 Imports (8%) and UAE (8%). Trade Exchange for Chapter 71: Jewelry Exports Imports Price-perTon ( Price-perTon ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 53
54 7. Plastics and Articles Thereof A. Firms: The number of firms engaged in plastics and articles thereof production is 159 establishments which occupy Plastics Production: Proportion to Industry 3565 employees. Output was estimated at million USD. The value of input was 6.00% 5.00% 4.00% million USD, whereas 3.00% the value-added was around 2.00% 88.3 million USD. Hence, the Output Input -Added value added-to-output ratio was equal to 28%. # of Employees Output Input -Added -Added / Output (%) % % % % 28% 38% Plastics Firms Total Firms Percentage (%) B. Exports: In 2010, plastics exports were equal to million USD. This value increased to million USD in The weight of these exports increased from 46,629 tons in 2010 to 49,997 tons in Hence, the average price-per-ton of exports increased from 2,375 USD in 2010 to 2,612 USD. Saudi Arabia ranked first among plastics exports destinations in 2014 with 10% of exports, while Syria ranked second with 9%. Other countries include Iraq (8%), Egypt (7%) and USA (7%). 54
55 C. Imports: The value of plastics imports was equal to million USD in This value increased to 695 million USD in The weight of these imports increased from 261,641 tons in 2010 to Plastics Trade Exchange 325,479 tons in price-per-ton of imports increased from 1,982 USD to Million USD Accordingly, the average 2,135 USD Exports Imports Around 23% of plastics imports are sourced from Saudi Arabia. Other sources include China (14%), Italy (7%), Turkey (6%), and the UAE (5%). Trade Exchange for Chapter 39: Plastics Exports Imports ( ( Source: Lebanese Customs - Prepared by Chamber of Beirut & Mount Lebanon 55
56 8. Printed Books and Other Material A. Firms: The number of firms engaged in printed books and material production is 211 establishments. The value of input was 117 million USD, 7.00% whereas the value-added was Printed Material Production: Proportion to Industry 6.00% around million USD. 5.00% Hence, the value added-to- 4.00% 3.00% output ratio was equal to 2.00% Output 58%. Printed Material Firms Total Firms Percentage (%) Input -Added # of Employees Output Input -Added -Added / Output (%) % % % % % 38% 0.00% B. Exports: In 2010, printed material exports were equal to 98.3 million USD. This value increased to million USD in The weight of these exports decreased from 61,416 tons in 2010 to 52,784 tons in Hence, the average price-per-ton of exports increased from 1,601 USD in 2010 to 2,359 USD in Saudi Arabia ranked first among printed material exports destinations in 2014 with 19% of exports, while Iraq ranked second with 16%. Other countries include Algeria (9%), Jordan (8%) and Syria (7%). 56
The Economic Letter July 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter July 2018 Summary: In July 2018, real sector indicators progressed in relation to the preceding month. Both imports
More informationThe Economic Letter March 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter March 2018 Summary: In the first quarter 2018, most real sector indicators retreated with regard to the corresponding
More informationThe Economic Letter January 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter January 2018 Summary: In the first month of 2018, most real sector indicators retreated in relation to the preceding
More informationThe Economic Letter November 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Summary: In November 2018, the majority of real sector indicators regressed in relation to the previous month. Imports and exports of
More informationThe Economic Letter December 2016
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter December 2016 Summary: In 2016, real sector indicators were mixed and their varied performance pointed to another year
More informationThe Economic Letter May 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter May 2018 Summary: In May 2018, real sector indicators were mixed with reference to the preceding month. Imports of goods
More informationThe Economic Letter September 2018
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter September 2018 Summary: In the first three quarters of 2018, most real sector indicators retreated in relation to the
More informationThe Economic Letter December 2010
ASSOCIATION OF BANKS IN LEBANON Research & Statistics Department The Economic Letter December 2010 Summary: Despite the deceleration in the activities of a number of economic sectors in the fourth quarter,
More informationLEBANON WEEKLY REPORT
Total imports decreased by a yearly 5% to reach USD 8,713 million in the first five months of 2014, while total exports dropped by 30% to reach USD 1,387 million. Imports from China accounted for the largest
More informationANNUAL ECONOMIC REPORT AJMAN 2015
ANNUAL ECONOMIC REPORT AJMAN C O N T E N T S Introduction Growth of the Global Economy Economic Growth in the United Arab Emirates Macro - Economic Growth in the Emirate of Ajman Gross Domestic Product
More informationWorld Consumer Income and Expenditure Patterns
World Consumer Income and Expenditure Patterns 2011 www.euromonitor.com iii Summary of Contents Contents Summary of Contents Section 1 Introduction 1 Section 2 Socio-economic parameters 21 Section 3 Annual
More informationMay 30, 2014 ECONOMY. Lebanon ranks 85th among 160 countries on Logistics Performance Index
ECONOMY The LPI is a benchmarking tool developed by the World Bank to measure the efficiency of trade supply chains within a country. Lebanon ranks 85th among 160 countries on Logistics Performance Index
More informationIndia Economic Factsheet
1 India Economic Factsheet (As of February 2015) ECONOMIC PROJECTIONS 2013 2014 2015 (F) GDP (Trillion US$) 1.88 2.04 2.16 Real GDP growth 4.47 4.8 5.6 GDP per capita in PPP 5,412 5,777 6,176 Exports (Billion
More informationInternational Monetary Fund Washington, D.C.
2009 International Monetary Fund January 2009 IMF Country Report No. 09/32 Qatar: Statistical Appendix This Statistical Appendix for Qatar was prepared by a staff team of the International Monetary Fund
More informationEUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA. Delegation of the European Union to the Republic of Korea
EUROPEAN UNION SOUTH KOREA TRADE AND INVESTMENT 5 TH ANNIVERSARY OF THE FTA 2016 Delegation of the European Union to the Republic of Korea 16 th Floor, S-tower, 82 Saemunan-ro, Jongno-gu, Seoul, Korea
More informationECONOMIC REPORT
ECONOMIC REPORT - 2016 Center for Economic Research Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon www.ccib.org.lb INTRODUCTION A stagnating economic growth characterizes the
More informationInvestment Development Authority of Lebanon Arab Spanish Investment Forum 2011
Investment Development Authority of Lebanon Arab Spanish Investment Forum 2011 Wednesday October 26 th Headlines 1. ABOUT LEBANON 2. CURRENT TRENDS IN SPANISH LEBANESE TRADE 3. SPANISH COMPANIES AND LEBANON
More informationBULGARIAN TRADE WITH EU PRELIMINARY DATA
BULGARIAN TRADE WITH EU PRELIMINARY DATA During the period January - June 2010 the Bulgarian exports to EU increased by 17.4% compared to the corresponding period of the previous year and amounted to 8
More informationB2. International trade and emerging markets
B2. International trade and emerging markets Introduction and definitions The key origins and destinations of Dutch trade remain other European Union countries and the United States. However, other trading
More informationEXPORT PERFORMANCE MONITOR
Export Performance Monitor Statistics department, EEPC Head Office Exports growing steadily According to the provisional data available from DGCI&S up to September 2007, Exports during September, 2007
More informationTRADE IN GOODS OF BULGARIA WITH THIRD COUNTRIES IN THE PERIOD JANUARY - FEBRUARY 2019 (PRELIMINARY DATA)
TRADE IN GOODS OF BULGARIA WITH THIRD COUNTRIES IN THE PERIOD JANUARY - FEBRUARY 2019 (PRELIMINARY DATA) In the period January - February 2019 the exports of goods from Bulgaria to third countries increased
More informationGreat Lakes & St. Lawrence Region 2015 Economy Profile Update
Great Lakes & St. Lawrence Region 2015 Economy Profile Update Great Lakes & St. Lawrence Region Best available data as of March 2011 2 Non-Farm Economy $5.5 trillion GDP (83% states / 17% Canadian provinces)
More informationTRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA)
TRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA) In the period January - June 2018 the exports of goods from Bulgaria to the EU increased by 10.7% 2017 and amounted
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA) In the period January - May 2017 Bulgarian exports to the EU increased by 10.8% 2016 and added up to 13 283.0 Million BGN (Annex,
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA) In the period January - April 2017 Bulgarian exports to the EU increased by 8.6% 2016 and amounted to 10 418.6 Million BGN
More informationEstonia s Balance of Payments for the Second Quarter of 2012
Estonia s Balance of Second Quarter of CONTENTS OVERVIEW... 5 CURRENT ACCOUNT... 8 Goods... 9 Services... 13 Income... 21 Current transfers and the capital account... 26 FINANCIAL ACCOUNT... 27 Direct
More informationBULGARIAN TRADE WITH THIRD COUNTRIES FOR THE PERIOD JANUARY - NOVEMBER 2010 (PRELIMINARY DATA)
BULGARIAN TRADE WITH THIRD COUNTRIES FOR THE PERIOD JANUARY - NOVEMBER 2010 (PRELIMINARY DATA) In the period January - November 2010 the Bulgarian exports to third countries increased by 46.9 compared
More informationIntroduction to MOROCCO
Introduction to MOROCCO With a GDP of USD 101bn in 2015, Morocco is a medium-sized economy. Sound macroeconomic fundamentals, a resilient and sophisticated banking sector and the implementation of structural
More informationIndicator Name f 2016f
December 215 A&T Bank View: We expect Omani economy to grow by 4.4% and 2.8% in 215 and 216 respectively. The growth of Oman's economy will slow over 216 as falling oil production and prices begin to have
More informationReport on Finnish Technology Industry Exports
Report on Finnish Technology Industry Exports Last observation October 2018, 2.1.2019 Goods Export of Technology Industry from Finland Goods Export of Technology Industry from Finland by Branches Source:
More informationCURRENT ACCOUNT DEFICIT
SHORT OVERVIEW The continuously strong inflow of external funds accompanied by active invest ment activities and private consumption maintained a high level of current account deficit. The current account
More informationBelgium s foreign trade 2011
Belgium s Belgium s BELGIAN FOREIGN TRADE IN Analysis of the figures for (Source: nbb community concept*) The following results demonstrate that Belgian did not suffer the negative effects of the crisis
More informationLEBANON WEEKLY REPORT
Lebanon s major entrepreneurship weakness is in product innovation, being the ability to provide unique products or services. The country s greatest strength in entrepreneurship is found in its perception
More informationLEBANON THIS WEEK
Issue 502 July 31 - August 5, 2017 Economic Research & Analysis Department LEBANON THIS WEEK In This Issue Economic Indicators...1 Capital Markets...1 Lebanon in the News...2 Charts of the Week Performance
More informationHow Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services.
How Much, With Whom and What Does the US Trade? It is important to remember that trade includes both Goods and Services. In 2016 1 : The US exported $1.5 trillion in Goods and $750 billion in Services
More informationBULGARIAN TRADE WITH THIRD COUNTRIES IN THE PERIOD JANUARY - FEBRUARY 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH THIRD COUNTRIES IN THE PERIOD JANUARY - FEBRUARY 2017 (PRELIMINARY DATA) In the period January - February 2017 Bulgarian exports to third countries increased by 20.0 in comparison
More informationIMPACT OF FINANCIAL REFORMS: EXPERIENCES IN THE EURO- MEDITERRANEAN AREA. MOHAMAD JABRI Executive Director Training and Development Department
IMPACT OF FINANCIAL REFORMS: EXPERIENCES IN THE EURO- MEDITERRANEAN AREA MOHAMAD JABRI Executive Director Training and Development Department OUTLINE A. Economic cooperation between Lebanon and the EU
More informationGold demand statistics
Gold demand statistics Table 2: Gold demand (tonnes) 2014 2015 Q2 14 Q3 14 Q4 14 Q2 15 Q3 15 Q4 15 Jewellery 2,482.0 2,397.5 589.5 591.5 686.0 596.9 513.7 623.7 663.2 481.9-19 Technology 348.5 333.8 86.6
More informationIndia s International Trade & Investment
India s International Trade & Investment July 2017 1 Structure of Presentation 1 Indian Economy: A Snapshot 2 Merchandise Trade: A Perspective 3 Services Trade: Recent Trends 4 India s Investment Flows
More informationActuarial Supply & Demand. By i.e. muhanna. i.e. muhanna Page 1 of
By i.e. muhanna i.e. muhanna Page 1 of 8 040506 Additional Perspectives Measuring actuarial supply and demand in terms of GDP is indeed a valid basis for setting the actuarial density of a country and
More informationIN THIS ISSUE ECONOMY
IN THIS ISSUE ECONOMY Coincident Indicator Improves by 5.8% Y-O-Y in October 2013 Fiscal Deficit Widened by 32% to USD 3,519 Million in the First Ten Months of 2013 Trade Deficit Goes up on a Yearly Basis
More informationForeign Direct Investment in the United States 2018
Foreign Direct Investment in the United States 2018 Overview Foreign direct investment in the United States, known as FDIUS, surpassed $4 trillion at the end of on a historical-cost basis. Every year,
More informationEesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 2016
Eesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 216 217 The Balance of Payments Yearbook is a longer analysis of annual external sector statistics, which includes a number of graphs. In addition, the yearbook
More informationTurkey: Recent Developments and Future Prospects. ISBANK Economic Research Division October 2018
Turkey: Recent Developments and Future Prospects ISBANK Economic Research Division October 2018 Macroeconomic Outlook Strong Economic Growth Cycle GDP of 851 bn USD (2017), 10.6k USD (2017) per capita
More informationVietnam. HSBC Global Connections Report. October 2013
HSBC Global Connections Report October 2013 Vietnam The pick-up in GDP growth will be modest this year, with weak domestic demand and exports still dampening industrial confidence. A stronger recovery
More informationPart. Situation and Economic Indicators of SMEs in 2012 and 2013
Part 01 Situation and Economic Indicators of SMEs in 2012 and 2013 Chapter 1 + Gross Domestic Product of SMEs 1 Gross Domestic Product of SMEs The overall gross domestic product (GDP) of 2012 expanded
More informationForeign Trade and Balance of Payments. V{tÑàxÜ f å
Foreign Trade and Balance of Payments V{tÑàxÜ f å FOREIGN TRADE AND BALANCE OF PAYMENTS Oman's balance of payments position remained comfortable in 2003, with a higher order of surplus in the overall balance
More informationVEDP QUARTERLY ECONOMIC UPDATE
VEDP QUARTERLY ECONOMIC UPDATE September 2016 VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP YESVIRGINIA.ORG 1 US ECONOMIC OUTLOOK 1 8% - Source: Consensus Forecasts, September 2016 2 US WEEKLY INDICATORS 5%
More information4 th Quarter of Head of Research: Nadim Kabbara, CFA
4 th Quarter of 2014 Contacts Head of Research: Nadim Kabbara, CFA n.kabbara@ffaprivatebank.com +961 1 985195 Analyst: Rima Gedeon r.gedeon@ffaprivatebank.com +961 1 985195 Sales and Trading, FFA Private
More informationUK trade in goods statistics by business characteristics 2015
Coverage: United Kingdom Theme: Business and Energy Released: 24 November 2016 UK trade in goods statistics by business characteristics 2015 Experimental Official Statistics Media contact: HMRC Press Office
More informationMain Development Trends of Czech Economy in 2013 and the Perspective for (April 2014)
Main Development Trends of Czech Economy in 2013 and the Perspective for 2014 (April 2014) The Czech Industry Results in 2013 in the Context of the EU Market and the Perspective for 2014 The Development
More informationNepal Rastra Bank Central Office. Current Macroeconomic Situation of Nepal
Nepal Rastra Bank Central Office Current Macroeconomic Situation of Nepal (Based on the Annual Data of FY 2013/14) Real Sector Gross Domestic Product 1. According to the preliminary estimates of Central
More informationSep 18, 2015 ECONOMY. IIF revises Lebanon s GDP growth rate down to 1.1% in 2015
ECONOMY IIF revises Lebanon s GDP growth rate down to 1.1% in 2015 IIF states that economic activity remains weak, reflecting policy inaction amid a protracted political crisis and rising regional insecurity.
More informationEconomic Stimulus Packages and Steel: A Summary
Economic Stimulus Packages and Steel: A Summary Steel Committee Meeting 8-9 June 2009 Sources of information on stimulus packages Questionnaire to Steel Committee members, full participants and observers
More informationEesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 2015
Eesti Pank ESTONIA S BALANCE OF PAYMENTS FOR 215 216 Eesti Pank, 215 Address Estonia pst 13 1595 Tallinn Estonia Telephone +372 668 719 E-mail info@eestipank.ee Website www.eestipank.ee ISSN 1736-7859
More informationReview of Pakistan s Balance of Payments July June 2009
Review of Pakistan s Balance of Payments July 2008 - June 2009 Pakistan s balance of payments showed a deficit of $9,261 million in its current account balance during 2008-09 as against a deficit of $13,874
More informationReport - Lebanon s Economic Performance in H1 2011
Report - Lebanon s Economic Performance in H1 2011 Executive Summary 2 General Introduction 3 Real Sector 3 Public Finances 7 Monetary Situation 8 Financial Sector 9 Foreign Sector 10 Economic Prospects
More informationEQUITY REPORTING & WITHHOLDING. Updated May 2016
EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the
More informationTHE LEBANESE ECONOMY IN 2016 BYBLOS BANK ECONOMIC RESEARCH AND ANALYSIS DEPARTMENT
THE LEBANESE ECONOMY IN 2016 BYBLOS BANK ECONOMIC RESEARCH AND ANALYSIS DEPARTMENT ECONOMIC ACTIVITY Economic activity in Lebanon remained below potential in 2016, in line with the previous five years.
More informationSouthern Africa regional superpower in the making. Dr Roelof Botha
Southern Africa regional superpower in the making Dr Roelof Botha Health sector focus Composition of Gauteng health budget FY 01 by programme (total R5. billion) R b Central Hospitals: 6.5 Facilities Management:.
More informationMissouri Economic Indicator Brief: Manufacturing Industries
Missouri Economic Indicator Brief: Manufacturing Industries Manufacturing is a major component of Missouri s $300.9 billion economy. It represents 13.1 percent ($39.4 billion) of the 2016 Gross State Product
More informationGOAL 6 FIRMS PARTICIPATING IN FOREIGN EXPORT TRADE
GOAL 6 FIRMS PARTICIPATING IN FOREIGN EXPORT TRADE By 2028, New Brunswick will have at least 1,080 firms participating in foreign export trade. Status: NOT PROGRESSING Current Situation As outlined in
More informationLEBANON WEEKLY REPORT
Value of real estate transactions increase by a yearly 8.8% in January 2017 The average value per real estate transaction reached USD 131,226 in January 2017, up from USD 122,191 in the previous year.
More informationS U M M A R Y. Table 1(a) : Monthly Import of Goods & Services Items
VI S U M M A R Y Table 1(a) : Monthly Import of Goods & Items (Million US$) August 2012 2011 I. Import Payments (Banks) 3,169 3,610 II. Freight & Insurance 190 217 III. Other Import unaccounted by Banks
More informationForeign Direct Investment in the United States
Foreign Direct Investment in the United States 2017 Organization for International Investment 1225 Nineteenth Street, NW, Suite 501 Washington DC 20036 www.ofii.org 202.659.1903 Prepared by CONTENT FIRST,
More informationVI. DEVELOPMENTS IN THE EXTERNAL SECTOR
VI. DEVELOPMENTS IN THE EXTERNAL SECTOR 6.1 Overall Balance of Payments After narrowing in 2004/05, the deficit in the overall balance of payments widened to USD 326 million in 2005/06 from USD 101.4 million
More informationForeign Investment Statistics
2012-2013 Released Date: May 2015 Table of Contents Introduction....4 Key Points......5 Total Stock of Foreign Investment (FI) by Economic Activity....6 Foreign Direct Investment (FDI) by Economic Activity.......8
More informationForeign Direct Investment in the United States. Organization for International Investment
Foreign Direct Investment in the United States Organization for International Investment March 16, 2011 FOREIGN DIRECT INVESTMENT IN THE UNITED STATES Key Findings Foreign Direct Investment in the United
More informationLebanomics 1st. Mfcbopo t Ebticpbse pg!fdpopnjd Joejdbupst. Quarter of 2011
Lebanomics 1st Quarter of 2011 Mfcbopo t Ebticpbse pg!fdpopnjd Joejdbupst Contacts Head of Research: Nadim Kabbara, CFA n.kabbara@ffaprivatebank.com +961 1 985195 Sales and Trading, FFA Private Bank (Beirut)
More informationRe-assessing the Arab-European Financial Relationship: Continuity in the Middle East, Change in Europe
Re-assessing the Arab-European Financial Relationship: Continuity in the Middle East, Change in Europe Andrew Cunningham Founder Darien Middle East www.darienmiddleeast.com French-Arab Banking Dialogue
More informationGlobal Business Barometer April 2008
Global Business Barometer April 2008 The Global Business Barometer is a quarterly business-confidence index, conducted for The Economist by the Economist Intelligence Unit What are your expectations of
More informationLEBANON WEEKLY REPORT
ECONOMY Lebanon ranks 18 th worldwide and 2 nd in the Arab world in gold holdings Lebanon s gold reserves reached 287 tons, accounting for 24% of the country s total foreign reserves. The August 2016 edition
More informationA. Definitions and sources of data
Poland A. Definitions and sources of data Data on foreign direct investment (FDI) in Poland are reported by the National Bank of Poland (NBP), the Polish Agency for Foreign Investment (PAIZ) and the Central
More informationBilateral agreements on investment promotion and protection
Bilateral agreements on investment promotion and protection Country Date Signed Entry into force South Africa 26 April 2005 - Albania 30 October 1993 - Algeria 7 July 2006 - Germany 20 December 1963 6
More informationReview of the Economy. E.1 Global trends. January 2014
Export performance was robust during the third quarter, partly on account of the sharp depreciation in the exchange rate of the rupee and partly on account of a modest recovery in major advanced economies.
More information2nd Quarter of Head of Research: Nadim Kabbara, CFA
2nd Quarter of 2012 Contacts Head of Research: Nadim Kabbara, CFA n.kabbara@ffaprivatebank.com +961 1 985195 Analyst: Laura El Makary l.elmakary@ffaprivatebank.com +961 1 985195 Sales and Trading, FFA
More informationInternational Monetary Fund Washington, D.C.
2005 International Monetary Fund September 2005 IMF Country Report No. 05/357 Brunei Darussalam: Statistical Appendix This Statistical Appendix paper for Brunei Darussalam was prepared by a staff team
More informationGlobal FDI Inflows. Global foreign direct investment (FDI) flows fell by 23 % to $1.43 trillion.
Global FDI Inflows Distribution of Global FDI Inflows 1,92 1,87 -%23 Global foreign direct investment (FDI) flows fell by 23 % to $1.43 trillion. 1,18 1,37 1,57 1,57 1,43 1,34 1,43 This is in contrast
More informationSPANISH EXTERNAL SECTOR AND COMPETITIVENESS: SOME HIGHLIGHTS
SPANISH EXTERNAL SECTOR AND COMPETITIVENESS: SOME HIGHLIGHTS Summary Spain has significantly increased its trade openness in the last two decades Despite the global crisis and increased competition from
More informationStatistics on UK-EU trade
BRIEFING PAPER Number 7851, 6 January 2017 Statistics on UK-EU trade By Dominic Webb Contents: 1. Overview 2. Trade in goods 3. Trade in services 4. Trade between EU & Scotland, Wales, Northern Ireland
More informationTrade trends and trade policy developments. Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit
Trade trends and trade policy developments Ian Ascough Head of Bilateral Trade Negotiations BIS/DfID Trade Policy Unit The big picture UK earnings from exports of goods exceeded earnings from exports of
More informationAn Overview of World Goods and Services Trade
Appendix IV An Overview of World Goods and Services Trade An overview of the size and composition of U.S. and world trade is useful to provide perspective for the large U.S. trade and current account deficits
More informationWorld s Best Investment Bank Awards 2018
Global Finance will publish its selections for the 19th Annual World s Best Investment Banks in the April 2018 issue. Winners will be honored at an awards ceremony in New York City in March, and all award
More informationLEBANON THIS WEEK. Charts of the Week. Quote to Note. Number of the Week. Economic Research & Analysis Department. In This Issue
Issue 549 Economic Research & Analysis Department In This Issue Charts of the Week Economic Indicators...1 Capital Markets...1 Lebanon in the News...2 1 Development Level of Electronic Government in Arab
More informationItem
385 POPULATION Total population a thousand; as of 1 July 96.4 97.4 99.1 99.8 100.1 100.4 100.8 101.1 Population density persons per square kilometer 121 122 124 125 125 126 126 126 Population annual change,
More informationNATIONAL EXPORT STRATEGY: DIVERSIFICATION
Department of International Relations and Co-Operation (DIRCO) Economic Diplomacy Training June 2014 NATIONAL EXPORT STRATEGY: DIVERSIFICATION Export Promotion and Marketing Chief Directorate PRESENTATION
More informationide: FRANCE Appendix A Countries with Double Taxation Agreement with France
Fiscal operational guide: FRANCE ide: FRANCE Appendix A Countries with Double Taxation Agreement with France Albania Algeria Argentina Armenia 2006 2006 From 1 March 1981 2002 1 1 1 All persons 1 Legal
More informationFrance Economic Update QNB Group. September 2014
France Economic Update QNB Group September 2014 France Overview France is the ninth largest economy in the world on a purchasing power parity basis and service-oriented; high indebtedness and lack of reforms
More informationPre-budget economic analysis Key facts and figures
Pre-budget economic analysis Key facts and figures June 2008 Advisory Table of Contents Page 1 Macro-economic overview 1 2 External sector 10 3 Government finance 16 Appendix 1 - Glossary 21 Section 1
More informationGuide to Treatment of Withholding Tax Rates. January 2018
Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep
More informationUK Overseas Trade in Goods Statistics December 2017
Coverage: United Kingdom Theme: Business and Energy Released: 09 February 2018 Next Release: 09 March 2018 Frequency of release: Monthly Media contact: HMRC Press Office 03000 585018 Statistical contacts:
More informationFinancial wealth of private households worldwide
Economic Research Financial wealth of private households worldwide Munich, October 217 Recovery in turbulent times Assets and liabilities of private households worldwide in EUR trillion and annualrate
More informationSan Francisco Retiree Health Care Trust Fund Education Materials on Public Equity
M E K E T A I N V E S T M E N T G R O U P 5796 ARMADA DRIVE SUITE 110 CARLSBAD CA 92008 760 795 3450 fax 760 795 3445 www.meketagroup.com The Global Equity Opportunity Set MSCI All Country World 1 Index
More informationNigerian Capital Importation SUMMARY REPORT: QUARTERS THREE AND FOUR 2015
Nigerian Capital Importation SUMMARY REPORT: QUARTERS THREE AND FOUR 2015 NATIONAL BUREAU OF STATISTICS 2 nd February, 2016 1 Capital Importation Data The data on Capital Importation used in this report
More informationGlobal Construction 2030 Expo EDIFICA 2017 Santiago Chile. 4-6 October 2017
Global Construction 2030 Expo EDIFICA 2017 Santiago Chile 4-6 October 2017 Graham Robinson Global Construction Perspectives Global Construction 2030 is the fourth in a series of global studies of the construction
More informationSupplemental Table I. WTO impact by industry
Supplemental Table I. WTO impact by industry This table presents the influence of WTO accessions on each three-digit NAICS code based industry for the manufacturing sector. The WTO impact is estimated
More informationBelgium has a small, open economy. Foreign trade is of major importance to the overall
2016 PREFACE BELGIAN FOREIGN TRADE IN 2016 Belgium has a small, open economy. Foreign trade is of major importance to the overall business outlook of our country. A recovery is generally initiated by
More informationChina s Economy: Development Trends
China s Economy: Development Trends BRUSSELS INSTITUTE OF CONTEMPORARY CHINA STUDIES Duncan Freeman March 215 dfreeman@vub.ac.be CHINA S NEW NORMAL PRC GDP Growth 1978-214 (%) 16. 14. 12. 1. 8. 6. 4. 2..
More informationProgress and expectations of business between People's Republic of China (PRC) and Europe/Italy. Centro Reach S.r.l Dec 3 rd, /12/2014 1
Progress and expectations of business between People's Republic of China (PRC) and Europe/Italy Centro Reach S.r.l Dec 3 rd, 2014 11/12/2014 1 New Economy Era in China China outbound investment will exceed
More informationLithuania: in a wind of change. Robertas Dargis President of the Lithuanian Confederation of Industrialists
Lithuania: in a wind of change Robertas Dargis President of the Lithuanian Confederation of Industrialists 2017 06 15 Lithuanian Confederation of Industrialists - the largest business organisation in Lithuania
More information