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$104 billion is the accumulated current account deficit.

$104 billion is the accumulated current account deficit.

Goods current account cumulative deficit totaled $144 billion for 2010-19 while surpluses from services totaled only $25 billion. Oil imports represented a third of Lebanon's goods import.

$49 billion of imported petroleum.

$49 billion of imported petroleum.

Fuel imports represent a third of Lebanon's total imports. Lebanon increased oil imports at unprecedented levels between 2015-19 when oil prices were decreasing. Improving the current account deficit and limiting the drainage of FX reserves that funded over imports and smuggling was not a government priority.

$67 billion flowing outside the country.

$67 billion flowing outside the country.

Over imports were funded from domestic accounts and contributed to the depletion of FX reserves in the country.

$1.4 billion estimated gross margin of oil importers.

$1.4 billion estimated gross margin of oil importers.

Oil companies importing to Lebanon (mostly Lebanese and Syrian owned) imported twice the local need of oil and generated an estimated cumulative Gross Margin of $1.4 billion, a cumulative Cash Balance of $670 million, and distributed an estimated $115 million in Dividends over the period 2010-19.

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