Kingdoms exports to GAFTA reaches JD934m in first third of 2024 — report

AMMAN — Jordan's exports to the Greater Arab Free Trade Area (GAFTA) dominated the Kingdom's trade in the first third of 2024, with exports reaching JD934 million, marking an increase from JD812 million during the same period of 2023.

According to data published by the Jordan News Agency, Petra, national exports to GAFTA countries rose by 15 per cent, driven by a significant increase in exports to Saudi Arabia, which alone accounted for JD274 million.

Exports to the North American Free Trade Agreement (NAFTA) region also saw a growth of 6.3 per cent to JD677 million from JD637 million the year before. This uptick was primarily driven by increased exports to the US, which amounted to JD656 million.

Trade with the EU witnessed a substantial boost, with exports rising 30.2 per cent to JD125 million in the first four months of this year, compared with JD96 million in the same period last year. A significant contribution to this growth was from exports to The Netherlands, which totalled JD33 million.

In contrast, exports to non-Arab Asian countries experienced a sharp decline of 39.4 per cent, dropping to JD500 million from JD825 million in the same period last year. This decline was largely due to reduced exports to India, which amounted to JD274 million.

Exports to other economic blocs decreased by 19.2 per cent, reaching JD252 million, down from JD312 million in the previous year. This decrease was driven by a drop in exports to the free zone, which totalled JD114 million.