Amman: Value of the Kingdom’s total exports in the first quarter of this year amounted to about JD1.962 billion, compared to JD2.220 billion for the same period last year, marking a decrease of 11.6%.

According to the monthly report of the Department of Statistics (DoS) on foreign trade in Jordan on Thursday, the value of national exports during the January-March period 2024 amounted to JD1.769 billion, against JD2.076 billion for the same period last year, marking a drop of 14.8%.

The value of the Kingdom’s imports went down by 2.8% in the first quarter of 2024, reaching JD4.389 billion, compared to JD4.514 billion for the same period last year, the DoS figures showed.

Meanwhile, the value of re-exports reached JD193 million in the first quarter of 2024, constituting an increase of 34.0%, compared to JD144 million for the same period last year.

Accordingly, deficit in the Kingdom’s trade balance in the first quarter amounted to about JD2.427 billion, compared to JD2.294 billion for the same period last y
ear, recording an increase of 5.8%, the DoS data revealed.

As for the coverage of total exports with imports, the rate reached 45% in the first quarter of 2024, compared to 49% during the same period in 2023, marking a decrease of 4%.

In terms of monthly trade, total exports during the month of March of 2024 amounted to JD738 million, of which national exports amounted to JD662 million and re-exports stood at JD76 million, while imports amounted to JD1,549 million and therefore the deficit in the trade balance reached JD811 million during March 2024.

During the month of March 2024, total exports increased by 6.0%, compared to the same month in 2023, while national exports surged by 2.8%, re-exports by 46.2% and imports by 3.0%, as well as the trade balance deficit by 0.4%.

According to the report, the coverage ratio of total exports to imports reached 48% during the month of March of 2024, compared to 46% during the same month of 2023, registering an increase of 2%.

Source: Jordan News Agency