Trade balance deficit up by 2.7% in H1

AMMAN — Exports dropped by 7.3 per cent during the first half of the year to around JD2.506 billion, compared with the figure recorded in the same period last year, according to Department of Statistics (DoS) figures.  

Imports also slipped by 1.1 per cent to JD7.006 billion, compared to JD7.086 billion in the first half of last year. 

Subsequently, the trade balance deficit went up by 2.7 per cent, amounting to around JD4.5 billion.

The DoS monthly report on foreign trade also showed that national exports were down by 9.6 per cent as they went down to around JD2.105 billion from around JD2.328 billion, according to a DoS statement.

Re-exports rose by 6.5 per cent to JD401.5 million, up from JD376.9 million, the DoS added. 

Pharmaceutical products and crude phosphate exports rose by 18.6 per cent and 2.7 per cent, respectively, while the country’s exports of garments, fruit and vegetables, raw potash and fertilisers went down, the DoS figures revealed. 

As for the country’s principal commercial partners, exports to the North American Free Trade Agreement countries saw a noticeable rise, mainly to the US.