Amman: Jordan’s trade deficit demonstrated a notable 9 percent reduction from January to October 2023, narrowing to JD8.142 billion in contrast to JD8.948 billion during the corresponding period in the previous year.

As per the latest report from the Department of Statistics on Sunday, the decline in the total value of exports by 2.4 percent over the same timeframe was evident, totaling JD7.464 billion compared to JD7.646 billion in the prior year.

The value of national exports also experienced a marginal decrease of 2.1 percent, amounting to JD6.910 billion, down from JD7.056 billion for the same period last year.

Conversely, the Kingdom witnessed a substantial 6.0 percent drop in the value of imports, reaching JD15.606 billion from JD16.594 billion during the same period last year. Re-exports similarly decreased by 6.1 percent, totaling JD554 million compared to JD590 million in the previous year.

Examining the monthly trade figures for October 2023, the total export value reached JD700 million, marking
a slight 1.8 percent decrease from the same month in 2022. National exports contributed JD638 million to this figure, reflecting a 2.4 percent decline, while re-exports amounted to JD62 million, showing a 5.1 percent decrease. Import values for the same period decreased by 3.5 percent, totaling JD1.764 billion.

The report indicates a 7.4 percent reduction in the trade balance deficit during October, reaching JD1.064 billion compared to the same month last year.
Source: Jordan News Agency