National exports grow 3.3% in first 11 months of 2024 — DoS
AMMAN — Jordan's exports witnessed a 3.3 per cent growth in the first 11 months of 2024 (January-November), reaching JD7.832 billion compared to JD7.580 billion during the same period in 2023, the Department of Statistics (DoS) said.
In its monthly report on foreign trade, DoS said that the total exports increased by 5.2 per cent during this period, reaching JD8.619 billion, compared to JD8.195 billion in the corresponding period of 2023, the Jordan News Agency, Petra, reported.
Re-exports also saw a "significant" rise, increasing by 28 per cent to JD787 million in the first 11 months of 2024 up from JD615 million registered in the same period of the year before.
On the other hand, imports increased by 1.8 per cent in the January-November period of 2024 to JD17.285 billion, compared to JD16.982 billion in 2023's first 11 months.
The report showed that the Kingdom's trade deficit, which represents the difference between imports and total exports, decreased by 1.4 per cent to JD8.666 billion in the January-November period of 2024, compared to JD8.787 billion in the corresponding period of 2023.
The report revealed that the total export coverage rate for imports in the first 11 months of 2024 reached 50 per cent, marking an increase of 2 percentage points compared to 48 per cent in the corresponding period of 2023.
On a monthly basis, total exports in November 2024 amounted to JD743 million, comprising JD672 million in national exports and JD71 million in re-exports. Imports during the same month reached JD1.620 billion, resulting in a trade deficit of JD877 million.
These figures represent a 2 per cent decrease in total exports compared to November 2023. National exports declined by 3.4 per cent in November 2024, while re-exports in the same months of 2024 increased by 14.5 per cent, and imports witnessed a 20.8 per cent increase.
The total export coverage ratio for imports in November 2024 was 46 per cent, registering a decrease of 11 percentage points compared to 57 per cent in November 2023.
The exports of apparel and related products surged by 24.6 per cent, reaching JD1.505 billion, up from JD1.208 billion in the corresponding period of 2023.
Pharmaceutical exports also saw a rise of 16.3 per cent, climbing to JD541 million from JD465 million in the previous year, Petra, reported.