Lebanon may be very close to reaching the $19 billion in import volume it achieved in 2019 by the end of 2022.
Compared to the volume of imports during the same period last year, which was 12 billion and 400 million dollars, data up to November show that the volume of imports has reached 17 billion and 800 million dollars, a 44% increase.
However, it should be noted that the number of exports during the first eleven months of this year was only $3.20 billion, compared to $3.27 billion during the same period last year, a 1.6% decrease.
Returning to the import figures, they initially suggest a constant need for dollars and that their depletion for import operations is an ongoing issue.
However, those who follow this issue are surprised by the volume of this import in light of the crisis and the decline in the ability of the Lebanese to consume.
They say that this import is the size of two countries, namely Lebanon and Syria, and that the dollars in Lebanon are depleted, not those in Syria.
Additionally, it is necessary to recognize a brand-new factor that has significantly increased: the storage factor.
This factor has increased significantly to achieve higher profits whenever the dollar exchange rate rises.
Additionally, an increase in shipping and insurance expenses was noted. All of these factors contribute to the actual import figures.
According to some, the rise in import figures resulted from the increase in oil prices, which led to higher prices for oil derivatives like gasoline, diesel fuel, and natural gas, which have reached 5.2 billion dollars, up 1.6 from the year 2021.
However, those who are monitoring the situation claim that this increase is not enough to push 2021's total imports past the $5 billion mark.