Jordan’s trade balance deficit surges 23%

Jordan’s trade balance deficit went up 23 percent in the first half of 2012 driven by a rise in oil imports and a decline in exports, mainly fertilizers, according to Department of Statistics (DoS) figures. The trade balance deficit, which is the difference between the value of exports and imports of output reached JD4.660 billion at the end of June this year compared to JD3.788 billion in the same period of last year. According to the latest statistics quoted by Jordan News Agency (Petra), the value of overall exports by the end of June was JD2.802 billion. The value of national exports was JD2.359 billion while the value of re-exported goods was JD443 million. According the data imports rose by 12.2 percent in the first 6 months of 2012 standing at JD7.462 billion compared to JD6.651 billion in the same period of 2011. The figures pointed to a rise in the Kingdom’s exports of textiles and clothes, potash, phosphates and pharmaceuticals but fertilizers and vegetable exports had dropped. Jordan’s imports of crude oil, cereals and iron rose while imports of machinery, and electrical appliances had declined. According to the figures, exports to NAFTA countries and non-Arab Asian countries including China also went up while exports to GAFTA countries and EU declined. Imports from GAFTA countries, mainly Saudi Arabia, NAFTA countries and non-Arab Asian countries including China also went up while imports from EU countries including Germany had dropped. Imports from Gulf Cooperation Council (GCC) countries stood at JD2.212 billion or 29.6 percent of the total imports in the first 6 months of 2012. Total exports to GCC countries reached JD464 million or 16.6 percent of the total of exports in the same period.