Trade deficit down 22% in first 8 months of 2020

Alshaheen News

 Jordan’s trade balance deficit in the first eight months of 2020 slumped by 22.7 per cent to JD4.076 billion against JD5.272 billion in the same period of 2019, according to official figures released Monday.

The Kingdom’s total exports edged down by 5.1 per cent in the January-August period standing at JD3.630 billion from JD3.825 billion in the corresponding period of last year, the monthly report by the Department of Statistics, which covers foreign trade, revealed.

National exports also inched down by 0.1 per cent to JD3.232 billion by the end of August, compared with JD3.236 billion during the same period of last year, according to the data.

The value of re-exports stood at JD398.8 million by the end of August, constituting a 32.3 per cent drop, compared to JD589 million in the same period of last year.

As for imports, their value amounted to JD7.707 billion, a decrease of 15.3 percent compared to the same period last year, which stood at JD9.098 billion.