Economic Research | Lebanon This Week | Lebanon This Week 549 | Exports of food & beverage products up 2% to $500m in 2017 | Lebanon | Byblos Bank
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Lebanon This Week 549
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Economic Research
Lebanon This Week 549
Exports of food & beverage products up 2% to ...
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Exports of food & beverage products up 2% to $500m in 2017
The Chamber of Commerce, Industry & Agriculture of Beirut and Mount Lebanon (CCIB) indicated that the exports of Lebanese food and beverage (F&B) products accounted for 18% of the country's total exports in 2017, which makes the F&B industry the second largest exporter in Lebanon behind the jewelry sector. The Lebanese F&B industry produces a variety of national foods and beverages, which include alcoholic beverages, confectionery, bakery products, olive oil, pickles, preserves, spices, condiments, and processed and canned fruits & vegetables.
F&B exports reached $500.2m in 2017, up by 1.9% from $491m in 2016, while the imports of food and beverages were nearly unchanged at $1.9bn last year. As such, the sector's trade deficit narrowed slightly to $1.36bn in 2017.
Syria was the main export destination of Lebanese F&B exports with $82.8m, or 16% of F&B exports, in 2017. Saudi Arabia followed with $62m (12.3%), then Iraq with $39.5m (7.8%), the U.S. $33m (6.5%), Qatar with $28.7m (5.7%), the UAE with $28.1m (5.6%) and Egypt with $20.7m (4.1%). Exports of prepared vegetables, fruits and nuts reached $108.3m, representing 21.6% of total F&B exports in 2017. Exports of prepared edible products followed with $94.4m (18.8%), then those of sugar and confectionery products with $68.9m (13.8%), and beverages with $60m (12%).
The CCIB pointed out that Lebanon's competitive advantages include its climate diversity, soil fertility, abundant water resources, relatively cheap but skilled agricultural labor force, and its geographic proximity to Arab and European export markets. However, it said that the lack of an upgraded infrastructure, poor water management systems, power supply deficiencies, high energy costs, underdeveloped waste management systems, as well as the lack of modern technologies, technical assistance, and research & development services are the main challenges to the sector's competitiveness.
In parallel, the distribution of F&B imports shows that imports of dairy products to Lebanon reached $316.6m, or 17.1% of F&B imports to the country in 2017, followed by those of cereals and milk with $278.6m (15%), prepared edible products with $216m (11.6%), and sugars and confectionery products with $203.3m (11%). France was the main source of imports of F&B products with $147.5m, or 7.9% of F&B imports to Lebanon in 2017. Turkey followed with $131.2m (7.1%), then Saudi Arabia with $96.9m (5.2%), Germany with $90.4m (4.9%), Egypt with $85.4m (4.6%), the United Kingdom with $79.2m (4.3%), the U.S with $62.7m (3.4%), Argentina with $61.2m (3.3%), and Italy with $60.2m and Brazil with $60.1m (3.2% each).
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