Jordan’s trade deficit widens by 16 percent in 2003
Jordan’s trade deficit rose to 1.54 billion Jordanian dinars in the first ten months of 2003, a 16.1 percent increase compared to the same period last year, according to the Ministry of Trade and Industry.
On the contrary, trade surplus with the US rose from JD 20.3 million during the first ten months of 2002 to JD 154.3 million in the corresponding period this year. The increase was attributed to the activation of the Jordan-US free trade agreement (FTA).
Despite the unfavorable political and economic conditions in Iraq, the Kingdom’s exports to the country reached JD 204 million in the post war period up until mid-December, 2003. Main export products included edible oils and tobacco.
Jordan’s main trading partners over the last decade were Saudi Arabia, Iraq, Syria, Lebanon and the United Arab Emirates (UAE). Approximately 74 percent of Jordan’s total exports headed for Arab markets over the past 10 years, with imports from those markets representing 84 percent of the total. — (menareport.com)
© 2003 Mena Report (www.menareport.com)