Amman: Jordan’s exports to the Greater Arab Free Trade Area (GAFTA) countries have continued their upward trajectory, reaching JD2.568 billion during the January-October period of 2023. This represents a notable increase of 15.2% compared to JD2.23 billion for the corresponding period last year.
According to foreign trade data issued by the Department of Statistics (DoS) on Sunday, the Kingdom’s imports from GAFTA countries exhibited a decline, amounting to JD4.049 billion during the January-October period of 2023, compared to JD5.05 billion for the same period last year. This marks a decrease of 19.8%.
Consequently, Jordan’s trade deficit with GAFTA countries witnessed a significant reduction, reaching JD1.481 billion by the end of October this year, compared to JD2.82 billion for the equivalent period in the previous year.
The overall trade exchange between Jordan and GAFTA countries for the January-October period of 2023 totaled approximately JD6.617 billion, in contrast to JD7.28 billion for the same p
eriod in 2022.
Analyzing the data further, the Kingdom of Saudi Arabia emerged as the leading destination for Jordanian exports to GAFTA countries during the January-October period of 2023, reaching JD842 million. This reflects a growth of 20.5% from JD699 million during the same period last year.
On the import side, Jordan’s primary source was once again the Kingdom of Saudi Arabia, with imports valued at JD2.235 billion. This figure represents a decrease of 11.6% compared to JD2.529 billion for the corresponding period last year.
The Greater Arab Free Trade Area, established in January 2005, fosters economic integration and trade exchange among Arab countries with low customs duties. The alliance comprises 18 Arab member states.
Source: Jordan News Agency