Amman: The deficit in the trade balance, which represents the variance between the value of imports and the value of total exports, declined by 9.5 percent, from the onset of 2023 until the conclusion of last November, to reach JD8.731 billion, compared to JD9.643 billion for the corresponding period in 2022.
The monthly report from the Department of Statistics on Foreign Trade in Jordan, released Thursday, indicated a decrease in the value of total exports until the end of last November 2023, by 1.8 percent, amounting to JD8.221 billion, compared to about JD8.372 billion for the same period in 2022.
The value of national exports decreased by 1.6 percent until the end of last November 2023, reaching JD7.606 billion, compared to JD7.727 billion for the same period in 2022.
The value of the Kingdom’s imports also decreased from the beginning of last year 2023 until the end of last November of the same year, by 5.9 percent, reaching JD16.952 billion, compared to JD18.015 billion for the same period in 2022.
While the value of re-exports amounted to JD615 million until the end of last November 2023, a decrease of 4.7 percent, compared to JD645 million for the same period in 2022.
Regarding the coverage of total exports to imports, it reached 48 percent during the 11th month of 2023, compared to 46 percent during the same period of 2022, marking an improvement of 2 percentage points.
At the monthly level, the value of total exports during last November 2023 amounted to JD758 million, representing an increase of 4.4 percent compared to the same month of 2022.
As per the report, the value of national exports during the month of November 2023 reached JD696 million, marking a 3.7 percent increase compared to the same month of 2022, and re-exports amounted to JD62 million, indicating a 12.7 percent increase compared to the same month of 2022.
As for imports, their value amounted to JD1.347 billion during last November 2023, indicating a decrease of 5.1 percent compared to the same month of 2022.
According to the r
eport, the trade balance deficit decreased by 15.1 percent during November 2023, reaching JD589 million, compared to the same month of 2022.
The coverage ratio of total exports to imports reached 56 percent during the month of November 2023, compared to 51 percent during the same month of 2022, marking an improvement of 5 percentage points, as per the report.
Source: Jordan News Agency