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Ammon News - Jordan's total exports increased by 4.8% from the beginning of the year through the end of September, reaching a total value of JD 7.064 billion, up from JD 6.738 billion during the same period last year, according to the latest data from the Department of Statistics.

National exports, a key component of total exports, also saw a growth of 2.7% during the same period, totaling JD 6.413 billion, compared to JD 6.246 billion in 2023. Meanwhile, the value of imports rose by 0.8%, reaching JD 14.012 billion by the end of September, compared to JD 13.894 billion for the same period in 2023.

Re-exports, which represent goods exported from Jordan after being imported, totaled JD 651 million, reflecting a significant 32.3% increase from JD 492 million in the same period last year.

As a result of these changes, the trade deficit, defined as the difference between the value of imports and total exports, narrowed by 2.9% to JD 6.948 billion, compared to JD 7.156 billion in 2023.

The coverage ratio of total exports to imports reached 50% by the end of September 2024, an improvement from 48% during the same period last year. This 2 percentage point increase signals a more balanced trade position.

Looking at monthly figures, total exports for September amounted to JD 836 million, a 23.3% increase compared to September 2023. National exports rose by 22.8% to JD 769 million, while re-exports grew by 28.8% to JD 67 million. Imports during September amounted to JD 1.554 billion, a modest increase of 0.8% from the same month last year, with the trade deficit for September standing at JD 718 million, a 16.8% decrease compared to the previous year.

The coverage ratio of total exports to imports in September reached 54%, a notable improvement from 44% in September 2023, reflecting a stronger performance in Jordan's export sector. Petra