Foreign direct investment (FDI) inflows to Lebanon fell by 20 percent to $2.1 billion in 2019, the lowest since 2002, from $2.6 billion the previous year.
According to a report by the United Nations Conference on Trade and Development (UNCTAD), FDI outflows to Lebanon also fell by 33.6 percent to $437.8 million in 2019 from $660.2 million in 2018.
The report said that FDI inflows to Lebanon constituted 3.8 percent of the GDP while the outflows made up 0.8 percent of GDP in 2019.
The report noted that private investment in Lebanon witnessed a very weak performance, with most investors delaying or cancelling any decision amid increased economic uncertainties and growing concerns on the political and economic outlook of the country.
Globally, FDI flows rose modestly in 2019, following declines registered in 2017 and 2018. At $1.54 trillion, inflows were 3 percent higher than in 2018, but remained below their level of 2017.
The UNCTAD revealed that Lebanon’s merchandise exports rose by 26 percent to $4.8 billion in 2019, from $3.8 billion in the previous year, while merchandise imports fell by 4 percent to $19.6 billion, down from $20.4 billion in 2018.
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Lebanon ranked 10th in the west Asia region in merchandise exports in 2019, unchanged from the previous year while losing one position in merchandise imports to rank eighth.
The report also said the country’s current account balance registerered a deficit of $11.5 billion compared to a larger deficit of $15.2 billion in the previous year.
UNCTAD estimated Lebanon’s nominal GDP per capita at $8,145 in 2019 and its real economic growth at -3.9 percent.
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