Jordan Records Trade Surplus with 10 Arab Countries
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Jordan recorded a trade surplus with 10 countries within the Greater Arab Free Trade Area (GAFTA) during the first third of this year, as part of ongoing efforts to strengthen its presence in Arab markets.اضافة اعلان
This positive outcome reflects the goals of the Economic Modernization Vision and serves as an indicator of the growth and competitiveness of Jordanian exports in Arab markets, along with the expansion of the Kingdom's network of trade partners in the region.
According to figures compiled by the Jordan News Agency (Petra), based on foreign trade data issued by the Department of Statistics, Jordanian national exports to GAFTA countries grew by 19.6% during the first third of this year, reaching a value of JD 1.117 billion, compared to JD 934 million during the same period last year.
Meanwhile, Jordan's imports from GAFTA countries amounted to JD 1.822 billion in the first third of this year, up 15.7% from JD 1.575 billion in the same period of the previous year.
Based on statistical data, GAFTA countries ranked first among Jordan’s trade partners during the first third of the year, accounting for 40.6% of the total value of national exports.
However, the trade balance between Jordan and GAFTA countries recorded a deficit of JD 705 million during the same period, compared to JD 641 million in the same period last year.
The total trade volume between Jordan and GAFTA countries reached JD 2.94 billion in the first third of this year, compared to JD 2.5 billion in the same period last year.
Jordan recorded a trade surplus with the following GAFTA countries during the first third of 2024: Iraq, Lebanon, Kuwait, Syria, Palestine, Algeria, Bahrain, Yemen, Libya, and Morocco.
On the other hand, the Kingdom registered a trade deficit with Saudi Arabia, the United Arab Emirates, Egypt, Qatar, Oman, Tunisia, and Sudan.
Saudi Arabia accounted for the largest share of Jordanian exports to GAFTA countries, reaching approximately JD 338 million, an increase of 23.4%, followed by Iraq with JD 273 million, up 17.7%. Exports to Syria witnessed a significant rise, reaching JD 72 million—a remarkable 453.8% increase.
At the same time, Saudi Arabia topped the list of countries from which Jordan imports, with imports valued at JD 993 million. As a result, Jordan’s trade deficit with Saudi Arabia alone amounted to around JD 655 million during the first third of this year.
Jordan’s exports to GAFTA countries primarily include fertilizers, pharmaceuticals, agricultural products such as fresh and frozen fruits and vegetables, salts, skincare products, processed foods, furniture, textiles, garments, and paints.
Jordan’s imports from GAFTA countries include crude oil and its derivatives, jewelry, food products, plastic sheets and panels, titanium oxide, polyethylene and polystyrene, iron and its products, among other goods.
The Greater Arab Free Trade Area is an economic alliance among Arab countries aimed at enhancing economic integration and facilitating low-tariff trade. It officially came into effect in January 2005 and currently includes 18 member states.
— (Petra)
This positive outcome reflects the goals of the Economic Modernization Vision and serves as an indicator of the growth and competitiveness of Jordanian exports in Arab markets, along with the expansion of the Kingdom's network of trade partners in the region.
According to figures compiled by the Jordan News Agency (Petra), based on foreign trade data issued by the Department of Statistics, Jordanian national exports to GAFTA countries grew by 19.6% during the first third of this year, reaching a value of JD 1.117 billion, compared to JD 934 million during the same period last year.
Meanwhile, Jordan's imports from GAFTA countries amounted to JD 1.822 billion in the first third of this year, up 15.7% from JD 1.575 billion in the same period of the previous year.
Based on statistical data, GAFTA countries ranked first among Jordan’s trade partners during the first third of the year, accounting for 40.6% of the total value of national exports.
However, the trade balance between Jordan and GAFTA countries recorded a deficit of JD 705 million during the same period, compared to JD 641 million in the same period last year.
The total trade volume between Jordan and GAFTA countries reached JD 2.94 billion in the first third of this year, compared to JD 2.5 billion in the same period last year.
Jordan recorded a trade surplus with the following GAFTA countries during the first third of 2024: Iraq, Lebanon, Kuwait, Syria, Palestine, Algeria, Bahrain, Yemen, Libya, and Morocco.
On the other hand, the Kingdom registered a trade deficit with Saudi Arabia, the United Arab Emirates, Egypt, Qatar, Oman, Tunisia, and Sudan.
Saudi Arabia accounted for the largest share of Jordanian exports to GAFTA countries, reaching approximately JD 338 million, an increase of 23.4%, followed by Iraq with JD 273 million, up 17.7%. Exports to Syria witnessed a significant rise, reaching JD 72 million—a remarkable 453.8% increase.
At the same time, Saudi Arabia topped the list of countries from which Jordan imports, with imports valued at JD 993 million. As a result, Jordan’s trade deficit with Saudi Arabia alone amounted to around JD 655 million during the first third of this year.
Jordan’s exports to GAFTA countries primarily include fertilizers, pharmaceuticals, agricultural products such as fresh and frozen fruits and vegetables, salts, skincare products, processed foods, furniture, textiles, garments, and paints.
Jordan’s imports from GAFTA countries include crude oil and its derivatives, jewelry, food products, plastic sheets and panels, titanium oxide, polyethylene and polystyrene, iron and its products, among other goods.
The Greater Arab Free Trade Area is an economic alliance among Arab countries aimed at enhancing economic integration and facilitating low-tariff trade. It officially came into effect in January 2005 and currently includes 18 member states.
— (Petra)
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