07 Mayıs 2022,SEARCH FOR THE ADVANTAGE IN THE MIDDLE OF THE CRISIS: LEBANON, Elevator Vizyon Magazine, All What You Are Looking For is On This Site


Lebanon, the Republic is a country in Western Asia. It is located between Syria to the north and east and Israel to the south, while Cyprus lies to its west across the Mediterranean Sea; Lebanon borders Israel by land and Cyprus by sea. its location at the crossroads of the Mediterranean, Lebanon   population is almost 7.000.000 with a complete surface of 10,452 square kilometers. With a beautiful geographical position on the coast, it is the smallest countries in the world and  makes her a busy commercial and cultural center for the Middle East. The Lebanese officially speak Arabic language and the most of them can speak French too. 

LEBANON’s economy is based on export where it has multiple trade agreements, including the Greater Arab Free Trade Area (GAFTA), Euro-Mediterranean Association Agreement and the European Free Trade Association (EFTA).  According to the statistics of the General Directorate of Customs, the value of Lebanese imports in 2020 amounted to about 11.3 billion dollars, and the value of exports amounted to 3.5 billion dollars. Lebanon’s total imports are $19.2 billion, of which $1.7 billion (8.9 percent) originate in the United States. The United States is Lebanon’s largest supplier of imported goods, followed by China, Greece, Russia and Italy. Major U.S. exports to Lebanon are mineral fuel and oil ($841 million), automotive ($253 million), chemical industrial products ($192 million), machinery and electrical instruments ($98 million), prepared foodstuffs, vegetable products ($96 million), and beverages and tobacco ($54 million).

Lebanon is the 112th largest export economy in the world and the 60th most complex economy according to the Economic Complexity Index (ECI). In 2017, Lebanon exported $3.91B and imported $20.8B, resulting in a negative trade balance of $16.9B. In 2017 the GDP of Lebanon was $53.6B and its GDP per capita was $14.5k.

The top exports of Lebanon are Gold ($444M), Computers ($233M), Scrap Iron ($179M), Scrap Copper ($167M) and Jewellery ($154M), using the 1992 revision of the HS (Harmonized System) classification. Its top imports are Refined Petroleum ($3.77B), Cars ($1.28B), Packaged Medicaments ($953M), Gold ($668M) and Raw Iron Bars ($396M). The top export destinations of Lebanon are South Africa ($316M), the United Arab Emirates ($265M), Syria ($246M), Saudi Arabia ($239M) and Switzerland ($237M). The top import origins are China ($1.89B), the United States ($1.73B), Italy ($1.73B), Greece ($1.4B) and Germany ($1.12B).

The top imports of Lebanon are Refined Petroleum ($3.18B), Cars ($864M), Packaged Medicaments ($741M), Jewellery ($428M), and Gold ($376M), importing mostly from United Arab Emirates ($1.71B), China ($1.67B), Italy ($1.31B), Greece ($1.3B), and Turkey ($1.11B).

Just like many other countries Some external and internal factors  defines the actual situation of  Lebanon economy , High living cost and the instability of the rate of the USD  made  the purchase value decrease to the minimum. Port explosion of August 4, 2020 destroyed much of the business areas and the most active  city in leabanon.  Beirut is the capital of the country and economically is the center business  conventions and also the  first destination of the turists from all over the World.  There  are 58  towers in Beirut the smallest one  MANARA 587- 88  Meters  18  floors  this was buılt 2005  while  the tallest one is   SAMARA BEİRUT -195 METERS-  50 FLOORS was built in 2016.

Based 0n a visit on the site ı came accross to many companies ı can just resume and say that the Construction sector is growing on a slow basis, but the old Project are still continuing and the movement for  the elevator and lifts products is still jhaving it’s live market.  We can not say the country it’s over, it is expected that maybe after the election the sights will be clearer fort Lebanon and it is expecting a good reform globally on it’s economy and especially that the current governoment is working on regaining the good relationship between the other countries of the middle east  such  Saudia Arabia,  UAE and Qatar. The International Monetary Fund  offers a reform program   to lebanon,On the other hand,  İsreailien and  Lebanon governement   are discussing The Blue Line talks in order to reach agreements on a number of contentious areas along the Blue Line. Also Iran based on an earlier Visit also are offering Support to the economy of Lebanon if Hezbollah Asked so. Lebanon  is the door of the middle east and is your  to discover more potentiel customers in the middle east keep an eye on it.