Jordan’s trade activity running in high gear

AMMAN — Jordan’s trade deficit widened  by 10.5 per cent during the first half of 2014 to around JD5.4 billion compared to JD4.8 billion at the end of the same period last year. 

According to the Department of Statistics (DoS), total exports (including re-exports) rose at the end of June this year by 6.8 per cent to JD2.9 billion compared to JD2.8 billion during the same period of 2013. 

The DoS report indicated that national exports rose by 8.6 per cent to JD2.5 billion whereas re-exports dropped by 3.4 per cent to JD406 million.

It also indicated that imports rose by 9.2 per cent to JD8.3 billion compared to JD7.6 billion. 

Subsequently, exports coverage of imported goods stood at  around 35.5 per cent down from 36.3 per cent during the first six months of last year. 

Garments, fruits and vegetables, pharmaceuticals and fertilisers were foremost of the country’s exports which increased  while the value of potash and crude phosphate exports dropped, according to the DoS report. 

Imports of crude oil and its derivatives, machinery, vehicles and their spare parts were among the main imports that went up while the value of imported electric machines and steel products declined. 

The DoS report showed that exports to Greater Arab Free Trade Area countries including Iraq, the North American Free Trade Agreement, including the US, and the European Union countries, including Italy, increased while national exports to non-Arab Asian countries, including India, regressed. 

Imports from Gulf Cooperation Council countries were valued at JD2.3 billion while Jordan’s total exports to those states totalled JD605.8 million. 

The Kingdom’s energy bill rose by 22.7 per cent during the first six months of 2014 to JD2.3 billion compared to JD1.9 billion during the January-June period of 2013.