Kingdom's exports decrease by 1% in H1 2024 - DoS

AMMAN — The value of the Kingdom’s total exports reached JD4.444 billion in the first half of the year, decreasing by 1 per cent from JD4.49 billion recorded in the corresponding period in 2023, the Department of Statistics (DoS) said on Sunday. 

According to the DoS's monthly report on Jordan's foreign trade, national exports went down by 3.7 per cent in the January-June period, reaching JD4.018 billion, compared with the same period in 2023 where national exports stood at JD4.174 billion, according to the Jordan News Agency, Petra, 

Imports value reached JD8.883 billion in the first six months of 2024, showing a decrease of 0.6 per cent compared with the corresponding period in 2023, which stood at JD8.934 billion, DoS figures showed.

Meanwhile, the value of re-exports stood at JD426  million, marking an increase of 34.8 per cent compared with the JD316 million recorded during the same period in 2023, the DoS added.

Accordingly, Jordan's trade balance deficit in the first half of the year dropped by 0.1 per cent compared with the same period in 2023, decreasing from JD4.439 billion to JD4.444 billion.

The Kingdom's total exports in June 2024 declined by 1.8 per cent, reaching JD815 million compared with the same month of 2023.

National exports in June 2024 went down by 5.2 per cent, amounting to JD 741  million, compared with the corresponding month in 2023, while re-exports totalled JD74 million in June 2024, marking an increase of 54.2 per cent compared with the same month of the year before. 

Imports in June 2024 went up by 5.7 per cent to JD1.391 billion when compared with the corresponding month in 2023.

According to the DoS report, the trade balance deficit in June 2024 went up by 18.5 per cent, reaching JD576 billion compared with June 2023.

The coverage ratio of total exports to imports was 59 per cent in June 2024, down from 63 per cent in the same month in 2023, showing a decrease of 4 percentage points.