Jordan Times
Wednesday, December 8, 2004
Volume of trade rises by 34.4%
AMMAN (Petra) — Despite the rise in foreign trade
by 34.4 per cent during the first ten months of this year compared to the same
period last year, the trade deficit widened by 41.9 per cent.
According to the Department of Statistics (DoS), the rise is the outcome of a 31
per cent increase in exports and reexports, accompanied by an increase in the
volume of imports by 36.2 per cent.
Exports rose during the January-October period, reaching JD1,911.1 million
compared to JD1,332.4 million during the same period last year, DoS figures
indicated.
Exports' coverage of imports volume dropped from 52.7 per cent to 50.7 per cent,
while exports represented 33.6 per cent of the foreign trade volume down from
34.5 per cent during the same period last year.
The garments sector accounted for 30.4 per cent or JD580.9 million of the volume
of exports, followed by fertilisers and pharmaceuticals, totalling 8.2 per cent
or JD155.8 million and 7.1 per cent or JD134.8 million respectively.
The US remained the country's main economic partner, receiving 30.7 per cent or
JD586.4 million worth of exports.
Iraq, the country's former chief economic partner, ranked second, accounting for
15.9 per cent or JD304.8 million of exports.
During the first ten months of 2004, imports totalled JD45,228 million compared
to JD3,321 million during the same period last year.
Crude oil accounted for the largest percentage of imports, totalling 13.7 per
cent of the overall volume of imports or JD618.6 million, the DoS figures
revealed.