Jordan Times
Tuesday, June 8, 2004
Trade deficit rises 33 per cent to JD772 million in four months
AMMAN (Petra) — The trade deficit reached JD772.6
million during the first four months of this year rising 33 per cent over the
JD581 million deficit posted during the same period of last year.
However, data from the Department of Statistics (DoS) showed that the
exports/imports coverage ratio remained unchanged at 51.5 per cent, during the
first four months of 2003 and 2004. The exports' share of external trade also
stood at 34 per cent during the period covered.
According to the statistics, exports rose during the January-April period by 44
per cent, reaching JD679.4 million compared to JD471.9 million. The garments
sector accounted for the largest portion of exports amounting to JD182.2 million
or 26.8 per cent of the total compared to 25.9 per cent, followed by vegetables,
accounting for JD56.9 million or 8.4 per cent of the country's overall exports
volume. Exports of the pharmaceuticals sector ranked third at JD55.3 million or
8.1 per cent while fertilisers came in the fourth place, accounting for JD48
million or 7.1 per cent.
The US, Iraq and Syria received more than half of the Kingdom's exports, the DoS
figures revealed.
The US received the largest portion of these exports, totalling 26.8 per cent or
JD182.4 million. Iraq, the country's former major economic partner, ranked
second, accounting for JD119.1 million or 17.5 per cent, followed by Syria
receiving JD45.5 million or 6.7 per cent of the total exports volume. The three
countries accounted for 51 per cent of the overall exports volume, the DoS
figures indicated
Reexports dropped by two per cent to JD143.7 million compared to JD166.6
million.
Imports rose during this year's first four months by 33 per cent, reaching
JD1,595.7 million compared to JD1,199.5 million during the same period last
year.
Crude oil ranked first among the country's imports, totalling JD200.3 million or
12.6 per cent of the country's overall imports, followed by machinery and other
equipment totalling JD130.9 million or 8.2 per cent.
Saudi Arabia topped the list of exporting countries with its contribution
totalling JD298.5 million or 18.7 per cent, followed by China, Germany and the
US.