Lebanon ranked third among 12 Arab countries in the value of overall export credit insurance

BEIRUT: Figures issued by the Arab Investment and Export Credit Guarantee Corporation (Dhaman) indicate that Lebanon ranked third among 12 Arab countries in the value of overall export credit insurance contracts signed in 2009, as reported by Byblos Bank’s Lebanon This Week.

Dhaman provides insurance coverage to Arab and non-Arab investments in its member countries against non-commercial risks, as well as insurance against commercial and non-commercial risks for inter-Arab and worldwide export credits.

As an exporter, Lebanon signed $77 million worth of export credit insurance contracts in 2009, accounting for 13 percent of the total value of such contracts. Lebanon signed $85.9 million or 13.7 percent of the total value in 2008.

Lebanon ranked ahead of Kuwait with $50.3 million (8.5 percent), Bahrain on $27.5 million (4.7 percent), Egypt with $24.8 million (4.2 percent), Syria with $24.4 million (4.1 percent), Sudan with $10.5 million (1.8 percent), the UAE with $9.4 million (1.6 percent), Oman with $4 million (0.7 percent), Jordan with $3.1 million (0.5 percent) and Algeria with $1.8 million (0.3 percent). It came behind Saudi Arabia, which accounted for $247.2 million, 42 percent of the total and Tunisia with $109.6 million (18.6 percent). Lebanon did not sign any investment insurance contracts with Dhaman last year as an exported FDI.

In parallel, Lebanon ranked in 13th place among 17 Arab importing countries with $5 million worth of export credit insurance contracts signed in 2009, representing 0.85 percent of the total value of such contracts. Lebanon ranked in 8th place with $16.8 million worth of such contracts signed in 2008.