Jordan trade balance deficit drops by 9% in 2023 January-October period

AMMAN — Department of Statistics (DoS) announced on Sunday that Jordan's trade balance deficit in the 2023 January-October period dropped by 9 per cent compared to the same period in 2022, decreasing from JD8.948 billion to JD8.142 billion.

The value of the Kingdom’s total exports reached JD7.464 billion in the first 10 months of 2023, decreasing by 2.4 per cent from JD7.646 billion recorded in the corresponding period in 2022, the Jordan News Agency, Petra, reported, citing the DoS monthly report on foreign trade. 

In the same period in 2023, national exports went down by 2.1 per cent, reaching JD6.910 billion, compared with the same period in 2022 where national exports stood at JD7.056 billion, DoS figures showed.

Imports value reached JD15.606 billion in the first 10 months of 2023, showing a decrease of 6 per cent when compared with the corresponding period in 2022, which stood at JD16.594 billion. 

Meanwhile, the value of re-exports stood at JD554million, marking a drop of 6.1 per cent compared with the JD590 million recorded during the same period in 2022, the DoS added.

The Kingdom's total exports in October 2023 declined by 1.8 per cent, reaching JD700 million compared with the same month of 2022.

National exports in October 2023 went down by 2.4 per cent, amounting to JD638 million when compared with the corresponding month in 2022, while re-exports totalled JD62 million in October 2023, marking a drop of 5.1 per cent compared with the same month of the year before. 

Imports in October 2023 went down by 3.5 per cent to JD1.764 billion when compared with the corresponding month in 2022, according to Petra.

According to the DoS report, the trade balance deficit in October 2023 dropped by 7.4 per cent, reaching JD1.064 billion compared with October 2022.