Arabian Group

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Syrian-Lebanese trade hits 16-year high
Trade between Lebanon and Syria reached SYP 23.3bn (USD 495m) in 2008, an annual increase of 19 percent, the online English-language Syrian business website The Syria Report reported on July 13.
Bilateral trade between the two countries rose for the second year in a row and reached a 16-year high, figures from the Syrian-Lebanese Higher Council (SLHC) show. The balance is in favour of Syria as Syrian exports reached SYP 12.7bn (USD 271m), while imports stood at SYP 10.4bn (USD 221m). All the data published by the SLHC is sourced from Lebanese customs authorities. In 2007, Lebanese exports outpaced Syrian exports for the first time in decades, with total trade coming in at SYP 19.5bn (USD 416m). Syria’s exports are mostly made up of minerals (cement, stones and salt), metal products and fruits and vegetables. Syria imports mineral products (cement and stones), food and beverages (mainly fruit concentrates), chemical products and wood and paper from its neighbour. Oil derivatives, which for many years were the most significant products traded, fell to SYP 94m (USD 2m). Lebanon now only uses unleaded gasoline which is not produced in Syria. Actual trade between the two countries is believed to be higher because of smuggling. Although obstacles to foreign trade have been significantly lowered in Syria in the last few years, customs tariffs remain high on many consumer goods and smuggling therefore remains lucrative on many products. Syria is Lebanon’s 17th supplier and its 4th client. Figures on Syria’s total foreign trade, sourced from the Central Bureau of Statistics, are only available for the year 2007. In that year Lebanon was Syria’s 19th supplier and its 8th client.

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