Doing Business in Lebanon
Lebanon was the 72nd largest market for U.S. exports in 2016, according to U.S. Department of Commerce statistics. The Lebanese Customs Authority reported that Lebanon’s total imports in 2016 reached USD 18.705 billion, of which USD 1.184 billion came from the United States.
In 2016, the United States ranked as Lebanon’s third largest trading partner behind China and Italy. According to Lebanese Customs statistics, major U.S. exports to Lebanon were vehicles (USD 326 million), mineral fuel and oil (USD 237 million), products of chemical industries (USD 193 million), machinery and electrical instruments (USD 118 million), prepared foodstuffs, beverages and tobacco (USD 68 million), and vegetable products (USD 47 million).
Lebanon’s Central Bank Governor estimated GDP growth at two percent in 2016. Quoting the World Bank and the International Monetary Fund (IMF), he forecasts growth to reach two to three percent in 2017. Inflation was negative in 2016 and the IMF forecasts it to reach two percent in 2017.