Jordan Times
Wednesday, January 24, 2007
Jordan–US trade tops $1.5 billion
By Mohammad Ghazal
AMMAN — Overall trade between Jordan and the US totalled $1,709 million for the
first ten months of 2006, reflecting an increase of 9.5 per cent from $1,560
million during the same period of 2005, according to the 2006 Jordan Economic
and Trade Bulletin released yesterday.
The bulletin, announced on Tuesday by Azzam Shwiehat, chairman of the American
Chamber of Commerce in Amman (AmCham), said the qualified industrial zones (QIZs)
and the Jordan-US Free Trade Agreement were the main driving forces behind the
five-year surge in Jordanian exports to the US.
Between 2001 and 2005 exports to the US increased by 453 per cent , or on
average 91 per cent a year, the bulletin indicated.
It said this trend continued during the first ten months of 2006, albeit at a
much slower rate of 12.4 per cent.
The main exported products are textiles and apparels, jewelry, machinery and
mechanical appliances, electrical machinery and equipment, plastics, and
pharmaceuticals.
The US is now Jordan’s second largest trading partner after Saudi Arabia,
accounting for over 33 per cent of exports.
Overall imports from the US over the past five years also increased by 90 per
cent, or on average 18 per cent a year.
During January-October 2006, imports from the US increased by 3.4 per cent,
according to the bulletin.
Topping the list of US imports were machinery and mechanical appliances,
vehicles, arms and ammunition, cereals, aircraft and parts, electrical machinery
and equipment and parts, optical, measuring, precision and medical and surgical
instruments and parts.
The publication, which Shwiehat said seeks to provide AmCham-Jordan members and
businesses in general with relevant and up-to-date information, indicated that
total foreign trade for the January-October 2006 period increased by 11.5 per
cent, amounting to $13.7 billion ,while total exports reached $4.2 billion, an
18.4 per cent increase from 2005.
During the stated period, Jordan’s trade deficit stood at $4,719 million.
According to Shwiehat, the bulletin will be distributed to all members of the
chamber, concerned business agencies and ministries. It will also be posted on
the chamber’s website.
In the region, the US has signed FTA agreements with Bahran, Israel, Oman and
Morocco, and is currently holding talks with Egypt.