Amman - Jordan's total exports climbed to JD5.366 billion during the first seven months of 2024, marking a 1.9% increase compared to JD5.268 billion in the same period last year, according to the latest data from the Department of Statistics.
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However, national exports fell marginally by 0.7% to JD4.857 billion from JD4.890 billion year-on-year. Re-exports, on the other hand, saw a significant surge, rising 34.7% to JD509 million from JD378 million over the same period in 2023.
The Kingdom's imports rose by 0.8% to JD10.742 billion by the end of July, compared to JD10.659 billion in the same period last year. Consequently, Jordan’s trade deficit, which measures the gap between total imports and exports, narrowed slightly by 0.3%, falling to JD5.376 billion from JD5.391 billion.
The report also highlighted that Jordan’s export-to-import coverage ratio improved to 50% by the end of July 2024, up from 49% during the same period in 2023, reflecting a modest increase in the country's ability to offset imports with export revenues.
In July 2024 alone, total exports amounted to JD922 million, of which JD839 million were national exports, and JD83 million were re-exports. Imports during the month reached JD1.859 billion, resulting in a trade deficit of JD937 million.
On a monthly basis, total exports in July surged by 18.5% compared to the same month in 2023, with national exports up 17.2% and re-exports up 33.9%. Imports also increased by 14.3%, while the trade deficit widened by 10.4%.
The coverage ratio of exports to imports for July improved to 50%, up from 48% in July 2023, showing a two-percentage-point rise.
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