Jordan's trade deficit sees 2.7% decrease in January-April 2023

AMMAN — Jordan's trade deficit in the January-April period of 2023 dropped 2.7 per cent compared with the same period in 2022, decreasing from JD3.023 billion to JD2.940 billion, the Department of Statistics (DoS) announced on Monday.

The value of the Kingdom’s national exports reached JD2.682 billion in the first four months of 2023, increasing 4 per cent from the JD2.579 billion recorded in the corresponding period of 2022, the Jordan News Agency, Petra, reported.

In the same period of 2023, total exports also went up by 2.3 per cent, reaching JD2.872 billion, compared with JD2.809 billion in the same period of 2022, the DoS figures showed.

The value of reexports stood at JD190 million in the first four months of 2023, representing a 17.2 per cent decrease compared with the JD230 million recorded during the same period of 2022, according to the DoS data.

Jordan’s imports also decreased 0.3 per cent, reaching JD5.813 billion compared with the JD5.832 billion recorded in the January-April period of 2022.

Monthly figures showed that exports in April 2023 totalled JD652.6 million, representing an 11.8 per cent drop compared with the figure reported during the same month of 2022.

National exports declined by 11.9 per cent in April 2023, reaching JD605.8 million. The value of reexports in the same month stood at JD46.8 million, down 11 per cent compared with the same month of 2022.

Imports also went down by 16.5 per cent in April 2023 when compared with the previous year, reaching JD1.299 billion.

According to the DoS report, the trade balance deficit in April 2023 reached JD646.5 million, a 20.8 per cent decrease compared with the corresponding month of 2022.