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Jordan’s trade deficit drops by 15 per cent in 8 months

Country’s exports were only enough to cover 38.6 per cent of imports during the period

Jordan’s trade balance deficit narrowed down by 15 per cent during the first eight months of the current year, official government data reveals.

The country’s trade deficit (the difference between imports and exports) reached JOD5.8 billion during the January-August period.

The figures indicated that the country’s exports were only enough to cover 38.6 per cent of imports during the eight-month period compared with 36.4 per cent in the same period last year, up by 2.2 per cent.

National exports totalled JOD3.1bn in the first eight months of the current year, down by 6.7 per cent compared with the same period last year.

The value of re-exports amounted to JOD515 million, down by four per cent. The Arab kingdom’s imports hit JOD9.5bn, signalling a decline of 11.8 per cent year-on-year.

Jordan’s top exports include garments, potash, phosphate, agro produce, pharmaceuticals and fertilisers, while imports include heavy machinery and spare parts, vehicles, jewellery and metals, electrical appliances and crude oil.

(JOD1 = AED5.18, at the time of publishing)