AMMAN — Jordan's trade balance deficit decreased by 2.5 per cent in the first five months of 2024, reaching JD 3.865 billion compared with JD3.966 billion for the same period last year.

The total value of exports fell by 1.5 per cent to JD3.628 billion, down from JD 3.683 billion in the corresponding period.

 

National exports specifically saw a 4.1 per cent decline, amounting to JD 3.276 billion, compared with JD3.415 billion, the Jordan News Agency, Petra, reported.

According to the Department of Statistics' monthly report issued on Thursday, the value of imports also declined by 2 per cent, reaching JD7.493 billion, down from JD7.649 billion.

 

Re-exports, however, increased by 31.3 per cent to JD352 million, up from JD268 million.
The coverage ratio of total exports to imports remained steady at 48 per cent, the same as in the previous year.

 



In May alone, the total value of exports reached JD880 million, with national exports at JD788 million and re-exports at JD92 million. Imports for the month amounted to JD1.675 billion, resulting in a trade balance deficit of JD795 million.

 



The report noted an 8.6 per cent increase in total exports in May compared with the same month in 2023, with national exports rising by 7.5 per cent and re-exports by 19.5 per cent. Imports, on the other hand, decreased by 8.8 per cent, leading to a 22.5 per cent reduction in the trade balance deficit.

 



The coverage ratio of total exports to imports in May improved to 53 per cent, up from 44 per cent in May 2023, marking a 9 percentage point increase.