MACROECONOMIC ANALYSIS OF LEBANON

International Trade (Exports & Imports)

Labor Force Participation (Employment & Unemployment)

In the mid-1950s, Lebanon was a prosperous and thriving nation in the Middle East. The French Mandate had been terminated, and, following the end of the Second World War, Lebanon had become and independent democracy, albeit one with its own unique political structure, which effectively accommodated its many religious and political factions.

Bishara Khoury headed the Lebanese government from 1943 to 1952. He understood that cooperation among the country's many factions was essential for national survival. Thus, while it was necessary for the Christian factions to permit some degree of national support for Pan-Arab nationalism, it was, at the same time, necessary for the Sunni segment of the Lebanese population to temper their support for this movement (Gilmour, 1994).

Khoury (Quoted in Hudson, 1968) declared to the Lebanese parliament in 1943 that the country was, "a homeland with an Arab-face seeking the beneficial good from the culture of the West" (p. 63). Policies based on this perception of the country, led to (a) abolishing Lebanon's customs u

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total trade, and GDP. Monetary values are stated in terms of United States dollars (US$). The relevant data for Lebanon are presented in Table 2 and Table 3, which may be found on the following page. The measures for which data are presented are as follows: Exports as a Percentage of GDP Imports as a Percentage of GDP Net Exports as a Percentage of GDP Trade in Goods as a Percentage of GDP Trade in Services as a Percentage of GDP Total Trade as a Percentage of GDP GDP Annual Growth Rate Relationships between the data sets relevant to international trade were assessed through chart analysis. The chart analyses presented are as follows: Exports & Imports as % GDP (Chart 4) Trade in Goods & Services as % GDP (Chart 5) Net Exports & Total Trade as % GDP (Chart 6) Total Trade as % GDP & GDP Growth Rate (Chart 7) Table 2: Exports, Imports, & GDP Growth - Lebanon 2000-2004 Year Exports/GDP Imports/GDP Net Exports GDP Growth (Annual %) 2000 13% 38% -26% 1% 2001 14% 42% -28% 4% 2002 13% 39% -26% 3% 2003 13% 39% -26% 5% 2004 14% 40% -26% 6% Source: World Bank, 2005 Table 3: Trade in
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