Exports to Syria grow in first nine months

Imports from US post 40 percent yearly increase

The trade deficit in the first nine months of 2012 stood at $12.7 billion, representing a 14 percent year-on-year growth. Imports rose by 11 percent to $16 billion. Exports totaled $3.3 billion, rising by two percent. The average monthly trade deficit stood at $1.4 billion.

Fuel products represented 30 percent of the imports bill during the first nine months. Petroleum products imports grew by 30 percent y-o-y.

As the main source of imports, the United States had a 13 percent share of the imports bill, mainly due to a rise in petroleum products imports. Imports from the US totaled $2 billion at end-September, a 40 percent growth y-o-y.

China and Italy were the second largest sources of imports with $1.3 billion each, followed by France with $1.2 billion, and Germany with $900 million.

The main export destination was Switzerland with 12 percent of the exports bill, followed by Saudi Arabia and the UAE with equal shares of eight percent each. The share of exports to Syria was six percent with $194 million, a growth of 18 percent y-o-y.

Jewelry topped the list of export items, with a share of 40 percent. It was followed by mechanical appliances with 11 percent, base metals with ten percent, prepared foodstuffs with nine percent, and chemical products with eight percent.