Lebanese Republic business profile

Statistics

• GDP: US$20.6 billion (2006).
• Main exports: Authentic jewellery, inorganic chemicals, consumer goods, fruit and tobacco.
• Main imports: Petroleum products, cars, medicinal products, clothing, meat and live animals.
• Main trade partners: Syria, United Arab Emirates, Italy, USA and Switzerland.

Economy

Beirut’s position as a major financial and commercial centre for the Middle East was lost during the 16-year civil war from 1975 to 1991 that destroyed the economy. Since then, both Lebanon and its capital have re-established themselves.

Agriculture now accounts for about 10% of GDP. There are no significant mineral resources, but the manufacturing industry is growing rapidly. Banking and transit trade (both of which were almost wiped out during the civil war) have recovered reasonably well.

The 2006 conflict between Hezbollah and Israel led to a collapse in the tourist industry and severely affected Lebanon’s economy. In 2006, the economy contracted by 5% and the national debt reached a record level of US$40.4 billion. Grants and loans of nearly US$8 billion pledged at the Paris