Jordan: Trade deficit on the rise
Jordan's trade deficit shot up to JOD6.772 billion in the first 9 months of the current year, up by 19.5 per cent compared with JOD5.583 billion for the same period of 2011, official statistics showed.
The data by the Departments of Statistics revealed that Jordan's imports at the end of the third quarter of the year climbed to JOD10.9 billion from JOD9.8 billion in the same period last year, up by 10.5 per cent.
Meanwhile, the Kingdom's exports dropped by 1.2 per cent, reaching JOD4.224 billion compared with JOD4.274 billion. The report also showed that the Kingdom's exports of potash, fertilizers and phosphate slightly dropped while pharmaceuticals, garments and vegetables exports saw an increase.
The main imports that pushed the Kingdom's budget deficit higher were crude oil, vehicles, motorcycles, cereals, and iron.
- Mission impossible? IMF says Jordan needs 7 percent growth to fight poverty and unemployment
- Saudi's strong non-oil growth in February may signal new economic era for KSA
- Worth a gasp? Abu Dhabi’s inflation already up 2.1% in 2014's first two months
- What's the attraction? IIF says UAE’s economic stability wooing foreign capital investment
- Public-private partnerships may be key to take Gulf's economic growth to next level