Jordan Times
Friday, October 12, 2007
Jordan’s exports rise in first eight months of 2007
AMMAN (Petra) - The Kingdom's exports rose by 11.3 per cent, while its imports increased by 10 per cent during the first eight months of this year, compared to the same period in 2006, figures released by the Department of Statistics (DoS) indicated.
The figures showed that the percentage of reexported items also increased by six per cent during the first eight months of 2007 compared to the same period last year.
According to DoS figures, the deficit in trade balance rose by 9.8 per cent during the January-August period of this year compared to the same period in 2006. In the same span, exports covered 44.5 per cent of imports, according to DoS.
Foreign trade figures indicated that the trade deficit’s ratio to gross domestic product dropped from 45 per cent to 44.5 per cent between 2006-2007.
Within the period in question, Jordan mostly exported vegetables, cosmetics, potash, phosphate, while a decline was recorded in the exports of garment and related materials, the figures showed.
There was also an increase in Jordan's imports of grains, steel, electrical appliances, while there was a drop in imports of crude oil and vehicles, according to the figures.
DoS figures indicated that Jordan's exports to Asia, especially India, and the countries of the Greater Arab Free Trade (GAFT) zone increased, while there was a decline in the Kingdom's exports to countries signatory to the North American Free Trade Agreement due to the decrease in Jordan's exports to the US.
There has also been a decrease in Jordan's exports to Iraq, according to the same statistics.
Meanwhile, Jordan's imports from EU countries and Asia increased, while there was a drop in the country's imports from countries of GAFT zone, especially Saudi Arabia, Jordan’s major oil supplier.