September 30 2022 3:51 PM E-paper Subscribe Sign in My Account Sign out

Jordan’s trade balance deficit with GAFTA stands at around JD1.5b

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(Photo: Envato Elements)
AMMAN — The Kingdom’s trade deficit with the Greater Arab Free Trade Area (GAFTA) increased in the first half of this year by 104 percent, to reach JD1.534 billion, compared to the same period last year, when it stood at JD749 million, according to Al-Mamlaka TV.اضافة اعلان

The value of exports to GAFTA member countries increased in the first half of this year by 15.1 percent, to reach JD1.239 billion, compared to the same period last year, when it amounted to JD1.076 billion, according to external trade data issued by the Department of Statistics (DoS).

The value of Jordan’s imports from GAFTA during the first half of this year increased by 52 percent, to reach JD2.773 billion, compared with the same period last year, when it amounted to JD1.825 billion.

According to DoS data, Saudi Arabia topped the list of Jordanian exports to GAFTA in the first half of this year, which amounted to some JD390 million; it also topped the list of countries exporting to Jordan, with the Kingdom’s imports from Saudi Arabia amounting to JD1.460 billion. This brought the trade deficit with Saudi Arabia in the first half of this year to JD1.070 billion.

President of the Jordan Chamber of Commerce Nael Kabariti said that Jordan imports represent more than 85 percent of the food and beverage items it consumes, which makes the trade balance in favor of many countries.


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