9% decrease in Jordan's trade deficit in 10 months

Economy

Published: 2023-12-24 17:15

Last Updated: 2024-02-25 01:40


9% decrease in Jordan's trade deficit in 10 months
9% decrease in Jordan's trade deficit in 10 months

The report from the Department of Statistics shows a decrease in Jordan's trade deficit from the beginning of 2023 until the end of October, by 9 percent, reaching JOD 8.142 billion compared to 8.948 billion for the same period last year.

The total value of exports by the end of October decreased by 2.4 percent to JOD 7.464 billion, compared to 7.646 billion for the same period in 2022, according to the monthly report on foreign trade statistics.

The value of national exports also decreased by 2.1 percent, reaching JOD 6.910 billion compared to 7.056 billion in the same period of 2022.

In contrast, Jordan's imports have rapidly decreased by 6 percent from the beginning of 2023 until the end of October, totaling JOD 15.606 billion compared to 16.594 billion dinars for the same period in 2022.

The value of re-exports reached JOD 554 million by the end of October 2023, reflecting a 6.1 percent decrease compared to 590 million for the same period in 2022.

According to statistics, the total export coverage ratio of imports was 48 percent from the beginning of 2023 until the end of October, compared to 46 percent during the same period in 2022.

On a monthly trade basis, the total value of exports in October decreased by 1.8 percent to JOD 700 million compared to October 2022.

The value of national exports in October reached JOD 638 million, showing a 2.4 percent decrease compared to October 2022.

The value of re-exports in October was JOD 62 million, reflecting a 5.1 percent decrease compared to October 2022.

Imports were JOD 1.764 billion in October, showing a 3.5 percent decrease compared to October 2022.

According to the report, the trade deficit decreased by 7.4 percent in October, reaching JOD 1.064 billion compared to October 2022.

The total export coverage ratio of imports in October was 40 percent, compared to 42 percent during October 2022.