Despite crisis, Lebanon sees rise in imports volume

Lebanon Economy
13-02-2023 | 11:32
High views
Share
LBCI
Share
LBCI
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
Despite crisis, Lebanon sees rise in imports volume
Whatsapp
facebook
Twitter
Messenger
telegram
telegram
print
2min
Despite crisis, Lebanon sees rise in imports volume

When we see solar panels covering the roofs of houses in Lebanon, this does not only mean that it is an alternative to the failure of the authority’s successive plans to secure electricity for citizens. It also means a considerable cost of imports in dollars.
 
Lebanon's import of solar energy panels and batteries rose from $54 million in 2021 to $930 million in 2022.
 
This massive rise in solar energy is mainly in the interest of the citizen; however, there is a rise in the volume of imports in specific sectors that were in the interest of merchants and their profits.
 
Lebanon's import of cars, motorcycles, and electrical appliances increased from one billion and 692 million dollars in 2021 to 3.5 billion dollars in 2022.
Let us take the import of cars, for example.
 
Before the customs dollar became 15,000 Lebanese Lira on the first of February 2023, many merchants rushed to buy large quantities of cars. They imported them at a customs dollar of 1,500 Lebanese Lira.
 
For example, the merchant paid 9 million Liras for customs for a car at 1,500 instead of paying 113 million Liras at a rate of 15,000.
 
But in practice, merchants will sell these cars to citizens at the new customs rate, and citizens will pay at least $2,000 in extra fresh money, which is a net profit for the dealer.
 
Merchants benefited and citizens paid, and the state's trade balance deficit grew to the point that imports in 2022 exceeded $19 billion, as if the country was fine and not battling a financial disaster.
 

Breaking Headlines

Lebanon News

Lebanon Economy

News Bulletin Reports

Crisis

Imports

Lebanon

LBCI Next
Finance minister signs decree granting August bonus to military personnel
Recommended For You
d-none hideMe
LBCI
News Bulletin Reports
2025-12-17

Lebanon imposes stricter rules on cash transfers

LBCI
Lebanon Economy
2025-12-16

Lebanon updates fuel prices

LBCI
Lebanon Economy
2025-12-15

Lebanon’s PM pushes to finalize financial gap law within 48 hours, sources say

LBCI
News Bulletin Reports
2025-12-12

Lebanon's financial fix: Could a deposit write-off reshape the economy?

Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
LBCI
World News
2025-12-15

Ukraine strikes Russian oil infrastructure in Caspian Sea for third time: Reuters

LBCI
News Bulletin Reports
2025-12-16

Foreign diplomats inspect Lebanese Army's progress in South Lebanon—Highlights of the tour

LBCI
Israel-Gaza War Updates
11:10

US, Qatar, Turkey, Egypt to hold Gaza talks in Miami on Friday: Official

LBCI
News Bulletin Reports
2025-09-16

Legal action: Lebanon moves toward criminalizing bullying with new draft law

Videos
d-none hideMe
LBCI
Lebanon News
2025-12-02

Pope Leo XIV urges leaders to hear their people’s cry for peace, singles out Lebanon (video)

LBCI
Lebanon News
2025-12-02

At Beirut waterfront, Pope Leo XIV rides through cheering crowds (video)

LBCI
Lebanon News
2025-12-02

At Beirut Port, Pope Leo XIV offers silent prayer for blast victims (video)

LBCI
Lebanon News
2025-12-02

Pope Leo XIV opens hospital visit with Arabic ’Sabah el-kheir’ — Video

LBCI
Lebanon News
2025-12-01

Pope Leo XIV tells Lebanese youth Lebanon’s future ‘is in your hands’; watch full speech here

LBCI
Lebanon News
2025-12-01

Pope Leo XIV moved by youth turnout in Bkerke: Video

LBCI
Middle East News
2025-11-27

Pope Leo leaves for Istanbul—Video

LBCI
Middle East News
2025-11-27

Pope Leo arrives at Turkey's Presidential Palace—Video

LBCI
Middle East News
2025-11-27

Pope Leo visits Mustafa Kemal Ataturk's mausoleum—Video

Most read
d-none hideMe
24 hours
7 days
Month
LBCI
News Bulletin Reports
13:00

Four demands, clear limits: Lebanon sets the tone ahead of ceasefire monitoring talks

LBCI
Lebanon News
03:40

Israel strikes multiple areas across Lebanon; army says it hit alleged Hezbollah sites

LBCI
Lebanon News
04:58

Lebanon parliament approves $250 million World Bank loan for southern infrastructure

LBCI
News Bulletin Reports
12:45

Behind Paris talks: A new framework for supporting Lebanon’s military

LBCI
Lebanon News
04:00

Berri says Israeli strikes send message to Paris army support conference

LBCI
News Bulletin Reports
12:47

Israel monitors Lebanon, Syria closely ahead of potential escalation—the details

LBCI
Lebanon News
03:09

Israel launches three airstrikes on Hermel outskirts

LBCI
Lebanon News
09:45

Lebanese army chief meets French counterpart to boost military cooperation

Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
Download now the LBCI mobile app
We use
cookies
We use cookies to make
your experience on this
website better.
Accept
Learn More