Jordan's exports to GAFTA countries surge by 12.4 percent in 2023

Economy

Published: 2024-02-27 12:41

Last Updated: 2024-04-16 04:38


Port of Aqaba
Port of Aqaba

The Kingdom's exports to countries in the Greater Arab Free Trade Area (GAFTA) increased by 12.4 percent last year, making it the top trading partner for these nations.

The GAFTA is considered an economic alliance among Arab countries aimed at enhancing economic integration and boosting trade with low customs duties. It was launched in January 2005 and comprises 18 Arab countries.

Foreign trade data from the Department of Statistics indicated a rise in export values to JD 3.078 billion, compared to JD 2.738 billion in 2022.

On the other hand, the Kingdom's imports from member states of GAFTA decreased by 18.5 percent to reach JD 4.711 billion, compared to JD 5.778 billion in the previous year.

The Kingdom's trade deficit with these countries narrowed to approximately JD 1.633 billion last year, compared to JD 3.040 billion in 2022, data revealed. 

The value of trade between Jordan and countries in the GAFTA decreased to about JD 7.789 billion last year, compared to JD 8.516 billion in 2022.

Jordanian exports to GAFTA include fertilizers, pharmaceuticals, fresh and refrigerated fruits and vegetables, skincare products, paints, food products, chocolates, furniture, fabrics, textiles, and insecticides.

Meanwhile, imports from these countries mainly focus on crude oil and its derivatives, jewelry, dates, wheat, fish, plastics, titanium oxide, polyethylene, polystyrene, iron and its products, furniture, fruit trees, cheese, honey, and grains.

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