Jordan's exports to GAFTA decrease by 6 per cent
Jordan's national exports for the Great Arab Free Trade Area (GAFTA) have dropped by 6 percent during the first 7 months of this year affected by the value of exports to Iraq, Syria and Lebanon, official figures showed.
According to a Department of Statistics report, the total value of Jordanian exports to GAFTA dropped to JD1300 million compared with JD1383 million for the same period of 2011.
The deficit of exports for Syria widened by %13.6 reaching JD114 million, Lebanon by %36.4 reaching JD85 million and Iraq by %20 reaching JD369 million, the report added.
GAFTA was declared within the Social and Economic Council of the Arab League as an executive program to activate the Trade Facilitation and Development Agreement that has been in force since January 1st, 1998. The GAFTA includes in its membership Jordan, United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, Morocco, Syria, Lebanon, Iraq, Egypt, Palestine, Kuwait, Tunis, Libya, Sudan and Yemen.
- What's its secret? Kuwait sustains non-oil growth for two years
- The reliable consumer: China on track to become biggest export market for GCC by 2020
- After the GCC 'happy' summit, is a customs union closer to reality?
- A bleak record: Turkey comes second in OECD income inequality list
- ًA safe bet? Why the ME's businessmen are chasing after St.Kitts and Nevis' citizenship