Jordan reports noteworthy trade surplus of 674 million dinars with US

2024-10-30 08:02:05

(MENAFN) By the end of August this year, Jordan has reported a noteworthy trade surplus of 674 million dinars with the United States, reflecting a significant advancement in the economic ties between the two countries.

Recent statistics released by the Jordan News Agency (Petra), based on foreign trade data from the Department of Statistics, illustrate a robust growth in Jordan's exports to the United States. Total exports reached 1.504 billion dinars, showing a remarkable increase of 13.5 percent compared to 1.325 billion dinars during the same period last year. This trend highlights an enhancement in Jordan's export capabilities and its growing competitiveness within the U.S. market.

On the import front, Jordan’s acquisitions from the United States have seen a slight reduction. The value of imports for the same period was approximately 830 million dinars, which is a decrease of 0.2 percent from the previous year's figure of 832 million dinars. This small decline could indicate a shift in Jordan's purchasing habits or sourcing strategies, suggesting a need for further examination.

In total, trade exchanges between Jordan and the United States have expanded to 2.334 billion dinars, a significant increase from 2.157 billion dinars reported during the same timeframe last year. This rise in trade underscores the vital role of the U.S. market for Jordanian exports and hints at the potential for deeper economic cooperation.

Statistical insights reveal that exports to the United States account for a substantial 26.6 percent of Jordan's overall export value, emphasizing the importance of this market for the Jordanian economy, especially in sectors where the country has established strengths.

Jordanian exports to the U.S. are quite diverse, prominently including items such as clothing and accessories, jewelry, fertilizers, pharmaceutical products, and information technology services. The food sector, along with live animal products and engineering goods, further illustrates the variety of Jordan's export offerings, showcasing its industrial prowess.

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