Lebanon’s Industrial Exports Double to $4 Billion in 5 Years
Lebanon’s Industry Minister George Bouchikian announced on Monday that the country’s industrial exports have doubled to $4 billion over the last five years. This marks a substantial growth in Lebanon’s manufacturing sector.
“The industry sector has become a major contributor to the Lebanese economy,” the National News Agency quoted Bouchikian as saying. The minister highlighted that Lebanese products now account for 67% of the local market, a significant increase from 17% in 2019.
This holiday season, give to:
Truth and understanding
The Media Line's intrepid correspondents are in Israel, Gaza, Lebanon, Syria and Pakistan providing first-person reporting.
They all said they cover it.
We see it.
We report with just one agenda: the truth.
Bouchikian credited this growth to the establishment of new factories, with the ministry issuing licenses to around 1,300 new facilities in the past three years. “These new investments are crucial for boosting our exports,” he said, adding that the industrial sector now contributes between 37% and 41% of Lebanon’s gross domestic product.
He also emphasized positive trends in foreign investment, mentioning ongoing collaborations with European countries and chambers of commerce to create partnerships aimed at the Middle East. These partnerships will benefit from Lebanon’s skilled workforce, strategic location, and extensive diaspora.
Lebanon’s Investment Development Authority identified the country’s top five industrial exports as pearls and precious stones, mechanical machinery, electrical machinery, plastics, and essential oils and cosmetics.
