This is a best prospect industry sector for this country. Includes a market overview and trade data.
According to Lebanese Customs, Lebanon’s imports of medical equipment reached$187 million in 2021, of which $29 million, or 15.5 percent, was of U.S. origin. Total medical equipment imports to Lebanon decreased by 6.5 percent in 2021 compared to 2020.
Difficult access to hard currency as a result of Lebanon’s economic collapse has led to a decrease in medical imports to Lebanon. Experts predict trade to maintain the same figures in 2022 and 2023. .
Table 3: Medical Equipment Chart
|2020||2021||2022 (Estimate)||2023 (Projection)|
|Total Local Production||$1 million||$1 million||$1 million||$1 million|
|Total Exports||$21 million||$12 million||$12million||$12million|
|Total Imports||$200 million||$187 million||$185 million||$185 million|
|Imports from the US||$54 million||$29 million||$25 million||$25 million|
|Total Market Size||$180 million||$176 million||$174 million||$174 million|
(Total market size = (total local production + imports) - exports)
Units: $ U.S. Dollars, LBP Lebanese Pounds
Source: Lebanese Customs statistics – Section 18
According to local experts, U.S. medical equipment products are characterized by their high quality and competitive value.
Lebanon is an ideal location to establish a regional office to cover the Levant, including Iraq, although controls on the flow of capital will make this difficult. The Lebanese market has traditionally been used as a platform for testing U.S. products prior to introducing them to the rest of the Levant market.
Lebanese Customs Administration (http://www.customs.gov.lb/home.aspx)
Contact for the Commercial Section that covers the medical equipment sector: Naaman Tayyar, Head of Commercial Section, Email: Naaman.Tayyar@trade.gov.]