Jordan’s exports up, trade deficit down in Jan–Oct ’24

Jordan’s national exports grew by 4 per cent in the first ten months of 2024, reaching JD7.16 billion, while total exports, including re-exports, rose by 5.9 per cent to JD7.876 billion, according to the Department of Statistics.

Re-exports saw a significant jump of 29.5 per cent to JD716 million, while imports edged up by 0.2 per cent to JD15.665 billion. This reduced the trade deficit by 5.1 per cent to JD7.789 billion.

Export coverage of imports improved to 50 per cent, up from 48 per cent a year earlier.

October figures highlighted stronger performance, with total exports rising 16 per cent to JD812 million, driven by a 17.1 per cent increase in national exports and a 4.8 per cent uptick in re-exports. Imports dropped 5.4 per cent to JD1.653 billion, narrowing the monthly trade deficit by 19.7 per cent to JD841 million.

The export-to-import coverage ratio for October alone climbed to 49 per cent, up from 40 per cent in October 2023, reflecting improvements in Jordan’s trade sector.

Attribution: Jordan News Agency (Petra)

Subediting: M. S. Salama