Based on CCIA-BML certified exports CCIA-BML Exports Report CCIA-BML certified exports in the first

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Transcript of Based on CCIA-BML certified exports CCIA-BML Exports Report CCIA-BML certified exports in the first

  • Based on CCIA-BML certified exports

    CCIA-BML Exports Report First Half of 2019

    CCIA-BML - Center for Economic Research 10-24-2019

  • Lana El Tabch Center for Economic Research at the CCIA-BML 1

    Table of Contents

    CCIA-BML certified exports in the first half of 2019 ......................................................... 3

    CCIA-BML certified exports by weight ............................................................................. 4

    Top export markets of CCIA-BML certified exports ......................................................... 5

    Evolution of Lebanon’s main export markets over the past three years based on CCIA-

    BML certified exports ....................................................................................................... 7

    Geographical distribution of CCIA-BML certified exports ................................................ 7

    Main products exported based on CCIA-BML certified exports ....................................... 9

  • Lana El Tabch Center for Economic Research at the CCIA-BML 2

    The present report illustrates Lebanese exports data compiled solely based on

    the certificates of origin issued by the Chamber of Commerce, Industry and

    Agriculture of Beirut and Mount Lebanon (CCIA-BML). This data is therefore not

    to be confused with the Customs data that tallies Lebanese exports on a national

    scale. All the tables and charts of the report hence refer exclusively to the CCIA-

    BML certified exports.

  • Lana El Tabch Center for Economic Research at the CCIA-BML 3

    CCIA-BML Exports Report

    CCIA-BML certified exports in the first half of 2019

    During the first six months of 2019 the Chamber of Commerce, Industry and Agriculture

    of Beirut and Mount Lebanon (CCIA-BML) issued certificates of origin to exported

    merchandise worth $1.42 billion, a 19 percent drop from the value of exports certified

    during the first half of the previous year.

    Exports of Lebanese origin formed 53 percent of total certified exports and reached $757

    million in the first half of 2019, a four percent increase from their value during the first six

    months of 2018.

    Exports of foreign origin, which form 47 percent of total certified exports, showed a

    remarkable decrease of 35 percent from their last year’s value during the same period.

    It is worth mentioning that almost half of the total CCIA-BML certified exports are done by

    local companies whereas the other half is made by offshore companies. This is correlated

    with the fact that nearly half of the exports are of Lebanese origin while the other half are

    of foreign origin.

    CCIA-BML certified exports by month in H1 2019

    Month

    Exports of Lebanese origin

    Exports of foreign origin

    Total

    (in million $) (in million $) (in million $)

    Jan 83.35 88.371 171.721

    Feb 179.68 136.257 315.936

    Mar 158.472 109.671 268.144

    Apr 161.257 109.478 270.735

    May 93.414 113.545 206.958

    Jun 80.388 106.567 186.955

    Total 757 664 1,420

    Share of total certified exports 53% 47%

  • Lana El Tabch Center for Economic Research at the CCIA-BML 4

    Total CCIA-BML certified exports by month (in million $)

    Month H1 2018 H1 2019 Change

    Jan 288.7 171.721 -41%

    Feb 356.4 315.936 -11%

    Mar 310 268.144 -14%

    Apr 307.1 270.735 -12%

    May 247.4 206.958 -16%

    Jun 232.3 186.955 -20%

    Total 1,742 1,420 -19%

    CCIA-BML certified exports by weight

    By end of June 2019 Lebanese exports certified by the CCIA-BML weighed 3,222

    thousand tons and the average value per ton stood at $441; compared to $732 in H12018,

    a sharp decrease of 40 percent from last year’s half-yearly value.

    Over the past 15 years, the average value per ton has more than doubled. This is possibly

    indicative of a trend toward more sophisticated, high-value industrial production.

    0 200 400 600 800 1000 1200 1400 1600

    Jan

    Feb

    Mar

    Apr

    May

    Jun

    Total

    CCIA-BML certified exports by month in H1 2019

    Total Exports of Foreign Origin Exports of Lebanese Origin

  • Lana El Tabch Center for Economic Research at the CCIA-BML 5

    Top export markets of CCIA-BML certified exports

    Lebanese exports, according to the CCIA-BML exports data, went to ten main markets of

    Arab countries in the first half of 2019.

    As seen in previous years, Egypt still occupies the first place on the list of Lebanon’s main

    exports markets, according to the CCIA-BML exports data, total exports to Egypt and

    accounted for 20 percent of total certified exports and amounted to $282.5 million in the

    first six months of 2019, a marked 39 percent drop compared to the first half of 2018.

    KSA formed the second largest export market for certified Lebanese exports as total

    exports to that country accounted for 14 percent of total certified exports.

    Qatar remains in the third position in the list of main export markets of CCIA-BML certified

    exports with total exports to this market remaining nearly unchanged from last year’s

    values and forming 13 percent of the total.

    After being the second largest export market of CCIA-BML certified Lebanese

    merchandise in 2018, Syria’s rank dropped to the fourth largest export market in H12019

    and has imported $165.3 million worth of Lebanese products forming 12 percent of total

    certified exports.

    Together, Egypt; KSA; Qatar and Syria import nearly 60 percent of total certified

    Lebanese merchandise in the first half of 2019.

    Year Value of certified exports Tons Average value per ton

    (in million $) (in thousand) (in $)

    2014 3,007 4,736 635

    2015 2,804 3,015 930

    2016 2,954 5,156 573

    2017 3,210 5,253 611

    2018* 1,742 2,380 732

    2019* 1,420 3,222 441

    * first 6 months of the year

  • Lana El Tabch Center for Economic Research at the CCIA-BML 6

    Top 10 export markets in 2018* Top 10 export markets in 2019*

    Country Exports Country

    Exports

    (in thousands $) (in thousand $)

    1 Egypt 461,038 1 Egypt 282,580

    2 Syria 228,062 2 KSA 194,728

    3 Qatar 186,366 3 Qatar 183,378

    4 KSA 185,005 4 Syria 165,269

    5 Iraq 169,966 5 UAE 143,017

    6 UAE 114,733 6 Kuwait 103,798

    7 Kuwait 95,151 7 Iraq 86,401

    8 Jordan 58,568 8 Jordan 46,335

    9 Turkey 25,984 9 Algeria 35,451

    10 Algeria 21,084 10 Turkey 35,178

    Total 1,545,957 Total 1,276,135

    *first 6 months of 2018 *first 6 months of 2019

    20%

    14%

    13% 12%

    10%

    7%

    6%

    3% 2% 2%

    Main export markets of CCIA-BML certified exports (First Half of 2019)

    Egypt KSA Qatar Syria UAE Kuwait Iraq Jordan Algeria Turkey

  • Lana El Tabch Center for Economic Research at the CCIA-BML 7

    Evolution of Lebanon’s main export markets over the past three years based on

    CCIA-BML certified exports

    Although Lebanese certified exports to Egypt were cut by half during the first half of 2019

    compared to H12018, Egypt is still the largest export market of Lebanese certified

    exported merchandise.

    Over the past five years, exports to Egypt increased tremendously; they were multiplied

    by a factor of 8 to reach $813 million by end of 2018 and $283 million in the first six

    months of 2019, according to data tallied by the CCIA-BML based on certified exports.

    This increase in due to the surge in the Lebanese exports of base metals and products

    thereof to Egypt. These products formed 90 percent of Lebanese exports to Egypt in 2016

    and 88.4 percent in 2017. Lebanon exported to Egypt $689 million worth of base metals

    and products thereof in 2018 and $250 million in the first six months of 2019, as compared

    to only $1.9 million in 2014.

    Lebanese exports to Jordan were almost cut by half. After being the fourth largest export

    market of CCIA-BML certified products in 2014, its rank dropped to the eighth top export

    market in 2018 and in the first half of 2019. Exports to Jordan decreased by 60 percent

    between 2014 and 2018 to reach $95.6 million in 2018 and $46.3 million during the first

    six months of 2019.

    Between 2014 and 2018 Exports to the UAE were multiplied by a factor of 2.24 and totaled

    $380.6 million in 2018 and $143 million in H12019.

    Geographical distribution of CCIA-BML certified exports

    Over 90 percent of exports certified by the CCIA-BML went to Arab countries in the first

    six-months of 2019, up from 76 percent in 2012. Followed by EU countries and African

    non-Arab countries which imported 6.1 percent and 2.3 percent respectively. CCIA-BML

    certified exports to Arab countries amounted to $1,281 million in the first half of 2019, a

    19 percent drop from their value during the first half of 2018.

  • Lana El Tabch Center for Economic Research at the CCIA-BML 8

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