Export to Lebanon
The Lebanese economy is notable for its large private sector (which contributes nearly 90% of GDP), a worrisome level of public debt, a structurally indebted trade balance and large regional and social disparities. The country’s economy is primarily based on services (78% of GDP). Its revenues come from a limited number of sectors
After reaching record levels between 2007 and 2010 (8% on average), Lebanese economic growth slowed significantly starting in 2011 due to internal political tensions and the Syrian conflict.
Since the end of 2019, the Lebanese economy has been in a catastrophic state with:
- a GDP which, according to the Institute of International Finance (IFI), is expected to contract by nearly 24% by the end of 2020,
- a devaluation of its currency by more than 80%, accompanied by a shortage of dollars, causing galloping inflation (+ 110% annually)
- and a paralysed banking system.
Interested in exporting to Lebanon?
Would you like to know more about the current export context, your first steps on the market, or the local business culture? Please contact our local economic and commercial attaché to receive the Lebanon fact sheet.
Nada Abdul Rahim (BRU)Economic and commercial attaché | Lebanon - Jordan
+961 1 97 60 08
EMBASSY OF BELGIUM
Immeuble Azarieh - block A
Rue Emir Béchir - 10ème étage
Riad El Solh 1107 2290 - Beyrouth