UK-Lebanon Trade Hits Record £1.1 Billion in 2023
The British Embassy in Beirut and the Department for Business and Trade Lebanon celebrated a historic milestone as UK-Lebanon trade smashed the £1 billion barrier for the first time ever. In 2023, bilateral trade rocketed to £1.1 billion — a staggering 45% jump on 2022.
Exports Soar with British Brands Lighting Up Lebanese Market
British exports to Lebanon surged, hitting £160 million. Key UK exports include mechanical power generators, cars, beverages, dairy products, and pharmaceuticals. Services form the backbone of the total trade, contributing over £600 million.
British brands are rapidly expanding their footprint in Lebanon. Just last month, The Entertainer toy shop opened its first Lebanese outlet. Baylis and Harding are already established, with EL&N Café set to enter the market this summer.
Top Brass Praise Strong UK-Lebanon Partnership
Lebanon’s Minister of Public Health, Dr Firas Abiad, joined Lebanese business leaders and entrepreneurs at the reception alongside UK Trade Commissioner Oliver Christian, who delivered a keynote video address.
“Given the many local and regional challenges, it is great to celebrate these record-breaking figures which show the strength of the UK-Lebanon partnership,” said British Ambassador Hamish Cowell. “We are eager to see more UK brands come to Lebanon and support Lebanese investments in the UK across various sectors.”
Oliver Christian added, “This achievement is remarkable especially amid Lebanon’s current challenges. Our bilateral trade figures prove the opportunities for businesses in both countries.”
Investment Booms Both Ways
Lebanese brands like Swiss Butter, Meat the Fish, and Nada Ghazal Jewellery are making waves in the UK market, showcasing the success of cross-channel investments.
The event highlighted the strong economic ties and mutual benefits of UK-Lebanon trade and investment. With both countries committed to expanding their commercial partnerships, the future looks bright for even more collaboration and growth.
