Jordan had 7-month export surge and import drop

(File photo: Jordan News)
AMMAN Jordan's trade landscape in the first seven months of 2023 has seen increased exports while imports decreased compared to the same period in 2022.اضافة اعلان

In the first seven months of 2023, total exports reached a total value of JD5.292 billion, with national exports at JD4.914 billion and re-exports at JD378 million, marking an increase compared to 2022, Khaberni News reported.

Jordan's trade balance grows
Imports for the same period amounted to JD10.599 billion, resulting in a trade deficit of JD5.307 billion. National exports rose by 1.3 percent and total exports grew by 0.4 percent, while imports declined by 4.7 percent and re-exports fell by 9.6 percent. Hence, the trade deficit narrowed by 9.3 percent

The ratio of total exports to imports reached 50 percent for the second consecutive month in the first seven months of 2023, up from 47 percent in 2022. In July 2023, exports totaled JD779 million, with national exports at JD717 million and re-exports at JD62 million. Imports for July 2023 amounted to JD1.630 billion, resulting in a trade deficit of JD851 million.

July trade snapshot
Comparing July 2023 to July 2022, total exports decreased by 2.4 percent with national exports down by 4.1 percent.

Imports and re-exports dropped by 4.2 percent and 5.8 percent respectively, while re-exports witnessed a substantial increase of 24.0 percent. The coverage ratio of total exports to imports in July 2023 stood at 47.8 percent compared to 46.9 percent in July 2022.

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