The Department of Statistics released its monthly report on Jordan’s foreign trade, revealing a significant increase in exports but a widening trade deficit in 2024 compared to the previous year.

 

According to the report, Jordan’s total exports rose by 5.8 percent in 2024, reaching JD 9.433 billion. National exports accounted for JD 8.579 billion, while re-exports totaled JD 854 million.

 

Imports also increased by 4.5 percent during the same period, amounting to JD 19.110 billion.

 

As a result, the trade deficit grew by 3.2 percent, reaching JD 9.677 billion in 2024, compared to JD 9.376 billion in 2023.

 

December Trade Figures

On a monthly basis, total exports in December 2024 increased by 13.5 percent to JD 813 million. However, imports surged by 39.8 percent to JD 1.826 billion, leading to a trade deficit of JD 1.013 billion for the month.

 

Export-to-Import Coverage Ratio

Despite export growth, the export-to-import coverage ratio remained steady at 49 percent in 2024. However, in December, it dropped to 45 percent compared to 55 percent in December 2023.

 

Key Trade Sectors

The rise in national exports was driven by strong performance in apparel and pharmaceuticals. Meanwhile, exports of nitrogen fertilizers, crude phosphate, and precious jewelry declined.

 

On the import side, there was an increase in the value of vehicles, motorcycles, and electrical appliances, while imports of crude oil and its derivatives, jewelry, and grains declined.

 

Trade Partners

Exports to major trading partners increased, particularly to countries within the Greater Arab Free Trade Area (GAFTA), such as Saudi Arabia, as well as to the United States under the Free Trade Agreement and European Union countries like the Netherlands.

 

Conversely, exports to some non-Arab Asian countries, including India, declined.

 

On the import side, Jordan’s purchases from GAFTA countries and the US increased, while imports from the EU and non-Arab Asian countries decreased.