Jordan’s exports down 22.8% until end of February compared to 2023

Economy

Published: 2024-04-29 17:31

Last Updated: 2024-06-18 14:01


Containers at the Aqaba Port
Containers at the Aqaba Port

Jordan’s exports decreased by 22.8 percent in the period from the start of 2024 until the end of February, reaching approximately JOD 1.106 billion compared to JOD 1.433 billion for the same period last year.

According to the monthly report by the Department of Statistics on Jordan's external trade, the value of total exports, which is the sum of domestic exports and foreign exports (re-exports), until the end of February this year was about JOD 1.223, down 19.8 percent from JOD 1.525 billion for the same period last year.

Imports decreased by 5.6 percent up until the end of February this year, reaching JOD 2.840 billion, compared to JOD 3.010 billion for the same period last year.

However, the value of re-exported goods rose by 27.2 percent to JOD 117 million, compared to JOD 92 million for the same period last year.

Trade deficit (the amount by which the cost of a country's imports exceeds the value of its exports) until the end of February this year reached about JOD 1.617 billion, compared to JOD 1.485 billion for the same period last year - which marks an increase of 8.9 percent.

As for the total export coverage of imports, it reached 43 percent until the end of February 2024, compared to 51 percent during the same period in 2023 - a decrease of 8 percentage points.

On a monthly basis, the total value of exports during February 2024 amounted to JOD 573 million, of which national exports were JOD 513 million, and re-exports were JOD 60 million.

Imports reached JOD 1.522 billion in February 2024, and the trade deficit reached JOD 949 million in February.

The total exports during February 2024 decreased by 35.8 percent compared to the same month in 2023, with national exports down by 39.4 percent. In contrast, re-exports increased by 33.3 percent, and imports by 11.2 percent.

The report indicates that the total export coverage of imports was 38 percent in February 2024, compared to 65 percent during the same month in 2023, a decrease of 27 percentage points.

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