KUWAIT CITY: Industrial and agricultural ‘real’ exports decreased 14 percent last year, compared to 2015, registering $2.1 billion, according to figures published by Customs.
The ‘Real’ export figures exclude pearls and precious stones, which registered $828 million compared to $434 million last year. It also exclude mineral products (mostly oil products, mainly re-exported to Syria), which decreased to $19 million from $30 million in the previous year. Exports also decreased 14 percent in terms of weight, registering 1.6 million tons last year. Total exports, including pearls and precious stones and mineral products, increased one percent.
Mounir Bissat, Chairman of the Industrial Exports Development Council at the Association of Lebanese Industrialists, said: “Producers are facing difficulties in exporting to Iraq, mainly because of customs barriers, as well transportation constraints.” Exports to Iraq dropped from $225 million in 2015 to $161 million last year. Bissat said that large amounts of goods used to be transited to Syria, but this recently stopped.
Exports of prepared foodstuff and beverages decreased seven percent. The value of exports in tons decreased from 370,000 tons to 303,000 tons last year. Bissat said that one of the reasons is the international decrease in commodities and raw material prices.
