Kingdom's total exports in first 7 months up by 1.9% - DoS

AMMAN — The total value of the Kingdom's exports in the first seven months of 2024 reached JD5.366 billion, compared to JD5.268 billion for the same period last year, marking a 1.9 per cent increase, the Department of Statistics (DoS) announced on Wednesday.

According to the DoS monthly report on foreign trade in Jordan, the value of national exports in the January-July period amounted to JD4.857 billion, compared to JD4.890 billion for the same period of 2023, recording a drop of 0.7 per cent.

The Kingdom's imports rose by 0.8 per cent in the first seven months of the year, reaching JD10.742 billion, compared to JD10.659 billion for the same period last year, the Jordan News Agency, Petra, reported.

Re-exports amounted to JD509 million by the end of July this year, an increase of 34.7 per cent compared to JD378 million during the same period last year.

The trade balance deficit, which represents the difference between the value of imports and total exports, stood at JD5.376 billion by the end of July, compared to JD5.391 billion for the same period last year, going down by 0.3 per cent.

The coverage of total exports for imports stood at 50 per cent by the end of July 2024, compared to 49 per cent for the same period in 2023, an increase of one percentage point. 

In July, total exports amounted to JD922 million, including JD839 million in national exports and JD83 million in re-exports, while imports stood at JD1.859 million, contributing to a trade balance deficit of JD937 million.

The report noted an 18.5 per cent rise in total exports in July this year compared to the same month in 2023. 

National exports increased by 17.2 per cent, re-exports went up by 33.9 per cent, and imports by 14.3 per cent, while the trade deficit saw an upsurge of 10.4 per cent.

For the monthly comparison, the coverage of total exports for imports was 50 per cent in July, compared to 48 per cent in the same month in 2023, registering an increase of 2 percentage points.