Lebanon

A

Agriculture

About 17 per cent of the Lebanese land area is arable. The intensively cultivated coastal plain, scarcely 6 km (4 mi) wide, produces tobacco and fruit, including oranges, bananas, grapes, figs, and melons. Cereals and vegetables are grown in the Bekaa Valley, portions of which are irrigated. Apples, cherries, plums, potatoes, wheat, and barley are produced in cooler areas. Agricultural output is around 40 per cent of pre-war levels. In 2006 946,000 tonnes of fruits and berries, 810,900 tonnes of vegetables and melons, 110,600 tonnes of grapes, and 511,400 tonnes of potatoes were produced. Opium poppies, an important crop in the civil war period, had reportedly been eradicated by 1994, and the cannabis crop reduced by half. Sheep, goats, and cattle are grazed in the uplands, contributing to soil erosion and the nearly total destruction of the forests, once renowned for their cedars. In 2006 there were 494,700 goats, 337,300 sheep, and 76,900 cattle in Lebanon.

B

Manufacturing

Oil-refining, the main industry in Lebanon, was crippled by the conflicts of the 1970s and 1980s. One million tonnes of cement were produced in 1993. Important products of light industries include wine, silk, cotton textiles, footwear, matches, and soap.

C

Energy

In 2003 electricity production was 10.7 billion kWh. The Litani River hydroelectric project in the Bekaa Valley is the largest in the country.

D

Currency and Banking

The monetary unit of Lebanon is the Lebanese pound of 100 piastres (1,529 pounds equalled US$1; early 2008). The Bank of Lebanon (Banque du Liban; 1964) functions as the central bank and sole bank of issue. Lebanon was long the banking and financial centre of the Middle East, but the civil war effectively curtailed this role.

E

Commerce and Trade

Commerce is of major importance to the economy. Before the mid-1970s, many foreign firms had branches in Beirut. The climate, scenery, and historical remains attracted tourists, with consequent benefits to the economy. Both commerce and the tourist industry suffered from the civil warfare of the 1970s and 1980s. In 2003, imports were valued at about US$7,167 million and exports at some US$1,524 million. Lebanon’s chief trading partners are other Middle Eastern nations, as well as France, Germany, and the United States.