Arab Today, arab today industrial exports plunge 121 in may
Last Updated : GMT 16:53:24
Arab Today, arab today
Arab Today, arab today

Industrial exports plunge 12.1% in May

Arab Today, arab today

Arab Today, arab today Industrial exports plunge 12.1% in May

Beirut - Arabstoday

Lebanon’s industrial exports continued to fall in May compared to same month last year, a report by the Industry Ministry said Tuesday. Industrial exports fell to $255.3 million in May 2012, 12.1 percent lower than in May 2011, the report showed. Lebanon’s industrial exports have been falling considerably since April, when they slowed to $222.7 million, down by 20.8 percent from $281 million in March 2012. When aggregated, the first five months of 2012 saw a moderate decrease in exports. During that period, exports fell 2.6 percent to $1.286 billion, down by $31 million from $1.317 billion in same period of 2011. Economist Louis Hobeika of Notre Dame University told The Daily Star that soaring shipping costs and the rising value of the dollar against the euro are the two main factors behind the decline in exports. “Shipment through Syria has become increasingly difficult and much more expensive,” Hobeika said, highlighting that both land shipments and insurance fees have skyrocketed over the past few months. “The declining value of the euro compared to U.S. dollar also takes a heavy toll on [the] competitiveness of Lebanese goods. Given that Lebanon receives most payments in U.S. dollars, the cost of Lebanese goods have been increasing to major importers, particularly in Europe and the Middle East.” Since the beginning of 2012, the euro has depreciated by 5.35 percent against the dollar on international markets. In May, electrical equipment topped exports at $53.2 million followed by chemical and food industries, at $45.7 million and $35.5 million respectively. According to Hobeika, the Lebanese industrial sector should become more innovative to compete better on international markets. “Lebanese industry should invest more in innovative products and invest more in research and development. They should offer better wages to highly qualified individuals, who are leaving the country.” From DailyStar

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today industrial exports plunge 121 in may Arab Today, arab today industrial exports plunge 121 in may

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today industrial exports plunge 121 in may Arab Today, arab today industrial exports plunge 121 in may

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday