Top 3rd food importer

Food bill at 40 percent of export revenues: ESCWA report

July 8, 2011- Food imports accounted for an average of 6.8 percent of GDP in the period extending between 2003 and 2007, according to figures released by the United Nations Economic and Social Commission for Western Asia (ESCWA).

The numbers were higher than the average of food imports in the ESCWA region (4.7 percent of GDP) and worldwide (2 percent of GDP). The country was the third highest food importer (as a percentage of GDP) in the region over the covered period, behind Jordan and Yemen where food imports account for 12 percent and 8.3 percent of GDP respectively.

ESCWA said Lebanon’s food bill accounts for 40 percent of export revenues, making it the second most vulnerable ESCWA country in this category.

The ratio of the country’s total exports to food imports was estimated at 2.4, the second lowest such ratio among ESCWA member countries, and below the global average ratio of 11.3.