Lebanon’s trade deficit widened by 2.525 percent in 2013 compared to 2012 as exports fell by more than $480 million, the Customs Department said Monday. According to data released by the department, the trade deficit in 2013 reached $17.292 billion, compared to a deficit of $16.797 billion in 2012.The report did not explain the reasons behind the widening trade deficit or why exports fell by such a significant amount. However, analysts attribute the fall in total exports to the ongoing Syrian crisis, which has blocked access to land routes for Lebanese exports. Prior to the start of the conflict nearly three years ago, Lebanese industrialists and farmers shipped most of their goods through Syria. (The Daily Star)
Posted on: Wed, 29 Jan 2014 08:06:49 +0000
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