Jordan’s Exports to GAFTA Nations Surge to JD2.3 Billion in 2023

Jordan's exports to the Greater Arab Free Trade Area (GAFTA) countries have continued their upward trajectory, reaching JD2.307 billion during the January-September period of 2023. This represents a notable increase of 16.9% compared to JD1.974 billion for the corresponding period last year. Based on official statistical data reported by the Jordan News Agency (Petra), the Kingdom's imports from GAFTA countries exhibited a decline, amounting to JD3.565 billion during the January-September period of 2023, compared to JD4.6 billion for the same period last year. This marks a decrease of 22.5%. Consequently, Jordan's trade deficit with GAFTA countries witnessed a significant reduction, reaching JD1.258 billion by the end of September this year, compared to JD2.626 billion for the equivalent period in the previous year. The overall trade exchange between Jordan and GAFTA countries for the January-September period of 2023 totaled approximately JD5.872 billion, in contrast to JD6.574 billion for the same period in 2022. Analyzing the data further, the Kingdom of Saudi Arabia emerged as the leading destination for Jordanian exports to GAFTA countries during the January-September period of 2023, reaching JD766 million. This reflects a growth of 22.4% from JD626 million during the same period last year. Iraq followed with JD435 million, the United Arab Emirates with JD248 million, and Palestine with JD189 million. On the import side, Jordan's primary source was once again the Kingdom of Saudi Arabia, with imports valued at JD1.948 billion. This figure represents a decrease of 14.6% compared to JD2.322 billion for the corresponding period last year. The United Arab Emirates followed with imports totaling JD733 million. The Greater Arab Free Trade Area, established in January 2005, fosters economic integration and trade exchange among Arab countries with low customs duties. The alliance comprises 18 Arab member states. Source: Jordan News Agency