Jordan’s exports to GAFTA reach JD3Bln in 2023

Jordan’s exports to countries within the Greater Arab Free Trade Area (GAFTA) surged by 12.4 percent in the preceding year, positioning the Kingdom atop the roster of trading allies and economic blocs in terms of domestic exports.

Data unveiled by th…

Jordan's exports to countries within the Greater Arab Free Trade Area (GAFTA) surged by 12.4 percent in the preceding year, positioning the Kingdom atop the roster of trading allies and economic blocs in terms of domestic exports. Data unveiled by the Department of Statistics and disseminated by the Jordan News Agency (Petra) underscored a notable uptick in the value of national exports to GAFTA countries, with figures soaring to JD3.078 billion, marking a significant rise from the JD2.738 billion recorded in 2022. Conversely, the value of imports into Jordan from the GAFTA countries experienced a decline of 18.5 percent over the same period, tallying at JD4.711 billion compared to JD5.778 billion in the previous year. Statistical analysis revealed a reduction in Jordan's trade deficit with GAFTA countries, shrinking to approximately JD1.633 billion in the previous year from JD3.040 billion in 2022. The total trade volume between Jordan and GAFTA countries amounted to approximately JD7.789 billion in the previous year, down from JD8.516 billion in 2022. Jordanian exports to the GAFTA countries encompass a diverse array of products including fertilizers, pharmaceuticals, fresh and refrigerated fruits and vegetables, skincare products, paints, food preparations, chocolates, furniture, fabrics, textiles, and insecticides. In contrast, imports into Jordan predominantly consist of crude oil and derivatives, jewelry, dates, wheat, fish, plastic sheets and plates, titanium dioxide, polyethylene, polystyrene, iron and its products, furniture, fruit trees, as well as cheeses, honey, and grains. The Greater Arab Free Trade Area, established in January 2005, represents a pivotal economic alliance fostering integration and facilitating low-tariff trade among its 18 member Arab countries. Source: Jordan News Agency