Saudi Arabia imposed a ban on all imports from Lebanon, among other measures, in response to the statements of the Lebanese Minister of Information, George Kordahi, in which he criticized Saudi Arabia’s intervention in Yemen. What is the value of these imports?
Official data indicate that the annual value of Lebanon’s exports to Saudi Arabia exceeds $250 million, including $20 million from the vegetable and fruit export sector.
Earlier this year, the Lebanese ambassador to Saudi Arabia, Fawzi Kabbara, said that the volume of trade exchange between the two countries amounted to $600 million annually over the past six years, noting that Saudi Arabia is the second destination for export from his country after the UAE, at a rate of $250 million annually.
It is noteworthy that the former Lebanese Minister of Agriculture, Abbas Mortada, warned that any Saudi ban on Lebanese imports represents “a great loss and a very dangerous matter, especially if it reflects negatively on the rest of the Gulf countries, which may take similar or strict measures.”
Lebanon is already facing a severe financial crisis that represents the biggest threat to its stability since the 1975-1990 civil war.