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AMMAN — Trade deficit dropped during the first quarter (Q1) of this year by 4.6 per cent due to higher exports. According to data issued by the Department of Statistics (DoS), the deficit dropped by JD113.5 million to JD2,327.5 million from JD2,441 million recorded during Q1 of 2013.
Subsequently, the percentage of the total exports coverage of imported goods rose by 3 per cent to 38.5 per cent compared with 35.5 per cent.
Total exports rose by 8.5 per cent to JD1,456.3 million compared to JD1,342.4 million. Fertilisers’ exports increased by 88.6 per cent, followed by vegetables and fruits’ at 23.9 per cent, garments’ at 13.6 per cent and pharmaceuticals’ at 2 per cent.
The country’s imports of machinery, vehicles and spare parts rose while the value of imported crude oil and its derivatives as well as that of electric appliances dropped, according to the DoS figures. National exports rose noticeably to the countries of the Greater Arab Free Trade Area, including Iraq.
Exports to the North American Free Trade Agreement countries, including the US, went up, as well as those to the European Union countries, including Italy while national exports to Asian non-Arab countries, including Indonesia dropped.