Ammon News - Jordan's national exports grew by 4% in the first ten months of 2024, reaching JD7.160 billion compared to JD6.883 billion during the same period last year, according to the Department of Statistics' foreign trade report released Tuesday.

Total exports, including re-exports, rose by 5.9% to JD7.876 billion, up from JD7.436 billion in 2023. The value of re-exports showed significant growth, increasing by 29.5% to JD716 million, compared to JD553 million in the same period last year.

The Kingdom’s imports saw a slight increase of 0.2%, reaching JD15.665 billion, compared to JD15.641 billion last year. Despite this, the trade balance deficit, which measures the difference between imports and total exports, decreased by 5.1%, dropping to JD7.789 billion from JD8.205 billion.

Export coverage of imports improved, reaching 50%, compared to 48% last year, marking a 2 percentage point increase.

In October alone, total exports reached JD812 million, including JD747 million in national exports and JD65 million in re-exports. Imports for the month amounted to JD1.653 billion, resulting in a trade balance deficit of JD841 million.

October’s figures reflect a marked improvement, with total exports increasing by 16% compared to the same month in 2023. National exports rose by 17.1%, re-exports by 4.8%, while imports decreased by 5.4%. This led to a sharp reduction in the trade balance deficit by 19.7%.

The export-to-import coverage ratio for October alone climbed to 49%, a significant rise from 40% in October 2023, reflecting enhanced performance in the trade sector.