:Lebanon Economy
Overview:
Since 1975 civil war has seriously damaged Lebanon's economic
infrastructure, cut national output by half, and all but ended Lebanon's
position as a Middle Eastern entrepot and banking hub. Following October
1990, however, a tentative peace has enabled the central government to begin
restoring control in Beirut, collect taxes, and regain access to key port
and government facilities. The battered economy has also been propped up by
a financially sound banking system and resilient small- and medium-scale
manufacturers. Family remittances, banking transactions, manufactured and
farm exports, the narcotics trade, and international emergency aid are main
sources of foreign exchange. In the relatively settled year of 1991,
industrial production, agricultural output, and exports showed substantial
gains. The further rebuilding of the war-ravaged country could provide a
major stimulus to the economy in 1992, provided that the political and
military situation remains reasonably calm.
GDP:
exchange rate conversion - $4.8 billion, per capita $1,400; real growth rate
NA (1991 est.)
Inflation rate (consumer prices):
30% (1991)
Unemployment rate:
35% (1991 est.)
Budget:
revenues $533 million; expenditures $1.3 billion, including capital
expenditures of $NA (1991 est.)
Exports:
$700 million (f.o.b., 1990 est.)
commodities:
agricultural products, chemicals, textiles, precious and semiprecious metals
and jewelry, metals and metal products
partners:
Saudi Arabia 16%, Switzerland 8%, Jordan 6%, Kuwait 6%, US 5%
Imports:
$1.8 billion (c.i.f., 1990 est.)
commodities:
NA
partners:
Italy 14%, France 12%, US 6%, Turkey 5%, Saudi Arabia 3%
External debt:
$900 million (1990 est.)
Industrial production:
growth rate NA%
Electricity:
1,381,000 kW capacity; 3,870 million kWh produced, 1,170 kWh per capita
(1989)
Industries:
banking, food processing, textiles, cement, oil refining, chemicals,
jewelry, some metal fabricating
Agriculture:
accounts for about one-third of GDP; principal products - citrus fruits,
vegetables, potatoes, olives, tobacco, hemp (hashish), sheep, and goats; not
self-sufficient in grain
Illicit drugs:
illicit producer of opium and hashish for the international drug trade;
opium poppy production in Al Biqa` is increasing; hashish production is
shipped to Western Europe, Israel, US, and the Middle East
:Lebanon Economy
Economic aid:
US commitments, including Ex-Im (FY70-88), $356 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $664 million; OPEC
bilateral aid (1979-89), $962 million; Communist countries (1970-89), $9
million
Currency:
Lebanese pound (plural - pounds); 1 Lebanese pound (#L) = 100 piasters
Exchange rates:
Lebanese pounds (#L) per US$1 - 879.00 (January 1992), 928.23 (1991), 695.09
(1990), 496.69 (1989), 409.23 (1988), 224.60 (1987)
Fiscal year:
calendar year
:Lebanon Communications
Railroads:
system in disrepair, considered inoperable
Highways:
7,300 km total; 6,200 km paved, 450 km gravel and crushed stone, 650 km
improved earth
Pipelines:
crude oil 72 km (none in operation)
Ports:
Beirut, Tripoli, Ra'Sil`ata, Juniyah, Sidon, Az Zahrani, Tyre
Merchant marine:
56 ships (1,000 GRT or over) totaling 236,196 GRT/346,760 DWT; includes 36
cargo, 1 refrigerated cargo, 2 vehicle carrier, 2 roll-on/roll-off, 1
container, 8 livestock carrier, 1 chemical tanker, 1 specialized tanker, 3
bulk, 1 combination bulk
Civil air:
19 major transport aircraft
Airports:
9 total, 8 usable; 6 with permanent-surface runways; none with runways over
3,659 m; 3 with runways 2,440-3,659 m; 2 with runways 1,220-2,439 m; none
under the direct control of the Lebanese Government
Telecommunications:
rebuilding program disrupted; had fair system of microwave relay, cable;
325,000 telephones; broadcast stations - 5 AM, 3 FM (numerous AM and FM
radio stations are operated inconsistently by various factions), 13 TV; 1
Indian Ocean INTELSAT and 1 Atlantic Ocean INTELSAT satellite earth station,
erratic operations; 3 submarine coaxial cables; radio relay to Jordan
inoperable, but operational to Syria, coaxial cable to Syria
:Lebanon Defense Forces
Branches:
Lebanese Armed Forces (LAF) (including Army, Navy, and Air Force)
Manpower availability:
males 15-49, 750,319; 465,938 fit for military service
Defense expenditures:
exchange rate conversion - $271 million, 8.2% of GDP (1992 budget)
:Lesotho Geography
Total area:
30,350 km2
Land area:
30,350 km2
Comparative area:
slightly larger than Maryland
Land boundaries:
909 km; South Africa 909 km
Coastline:
none - landlocked
Maritime claims:
none - landlocked
Disputes:
none
Climate:
temperate; cool to cold, dry winters; hot, wet summers
Terrain:
mostly highland with some plateaus, hills, and mountains
Natural resources:
some diamonds and other minerals, water, agricultural and grazing land
Land use:
arable land 10%; permanent crops 0%; meadows and pastures 66%; forest and
woodland 0%; other 24%
Environment:
population pressure forcing settlement in marginal areas results in
overgrazing, severe soil erosion, soil exhaustion; desertification
Note:
landlocked; surrounded by South Africa; Highlands Water Project will
control, store, and redirect water to South Africa