Lebanese foreign trade figures for November 2004 showed a trade deficit of US$631mn, up by 15.6% from a deficit of US$546mn in November 2003.

The deficit increase was mainly caused by a 10.8% rise in imports to US$752mn, while exports declined by 9%, to US$121mn. The country’s foreign trade saw strong activity, as the volume of trade rose by 30% over the first 11 months of 2004 compared to the same period of last year.
Imports increased by 32.5% to US$8.5bn, while exports rose by 18.1% to US$1.6bn.

The improvement in trade activity was driven by stronger domestic demand, successful export market penetration and exchange rate fluctuations.