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Jordan's Trade Balance With US Reaches Surplus Of Jd877mln In 2024-Dos
(MENAFN- Jordan News Agency)
Amman, Mar. 15 (Petra) - The Kingdom's trade balance with the U.S. recorded a surplus of JD877 million last year, 2024.
According to foreign trade data released by the Department of Statistics (DoS) and monitored by "Petra" showed a "significant" growth in national exports to the U.S. last year, reaching JD2.208 billion, compared to JD1.958 billion in 2023, marking an increase of 12.8%.
Meanwhile, the value of the Kingdom's imports from the U.S. market last year reached JD1.331 billion, compared to JD1.161 billion in 2023, constituting an increase of 14.6%.
Accordingly, volume of mutual trade went up last year, standing at JD3.539 billion, compared to JD3.119 billion in 2023.
Based on the statistics, national exports to the U.S. constituted 25.7% of the total value of Jordanian exports last year.
Speaking to "Petra" on Saturday, Samer Judeh, Chairman of American Chamber of Commerce in Jordan (AmCham-Jordan), said this increase reflects "success" of Jordanian products in entering the American market, benefiting from the Jordan-U.S. Free Trade Agreement, which entered into "full" implementation in 2010 and contributed to increasing volume of trade by more than 800%.
Judeh added that measures to increase exports and support to national industries "top" priorities of the Kingdom's Economic Modernization Vision.
From this standpoint, he said the sector's leadership bears a "remarkable" responsibility to formulate policies and coordinate efforts to achieve this goal.
Judeh noted building on this momentum requires steps to raise the added value of Jordanian products, improve quality standards, expand base of exported goods and services, and promote joint Jordan-U.S. investments.
Judeh stressed the importance of "institutional" cooperation in the areas of training, marketing, and supply chain development to ensure "sustainability" of this growth and increase "competitiveness" of Jordanian exports in the US market.
Judeh also highlighted importance of focusing on exporting technical services that have "high added value" and rely on human resources and their "highly competitive" qualifications.
Amman, Mar. 15 (Petra) - The Kingdom's trade balance with the U.S. recorded a surplus of JD877 million last year, 2024.
According to foreign trade data released by the Department of Statistics (DoS) and monitored by "Petra" showed a "significant" growth in national exports to the U.S. last year, reaching JD2.208 billion, compared to JD1.958 billion in 2023, marking an increase of 12.8%.
Meanwhile, the value of the Kingdom's imports from the U.S. market last year reached JD1.331 billion, compared to JD1.161 billion in 2023, constituting an increase of 14.6%.
Accordingly, volume of mutual trade went up last year, standing at JD3.539 billion, compared to JD3.119 billion in 2023.
Based on the statistics, national exports to the U.S. constituted 25.7% of the total value of Jordanian exports last year.
Speaking to "Petra" on Saturday, Samer Judeh, Chairman of American Chamber of Commerce in Jordan (AmCham-Jordan), said this increase reflects "success" of Jordanian products in entering the American market, benefiting from the Jordan-U.S. Free Trade Agreement, which entered into "full" implementation in 2010 and contributed to increasing volume of trade by more than 800%.
Judeh added that measures to increase exports and support to national industries "top" priorities of the Kingdom's Economic Modernization Vision.
From this standpoint, he said the sector's leadership bears a "remarkable" responsibility to formulate policies and coordinate efforts to achieve this goal.
Judeh noted building on this momentum requires steps to raise the added value of Jordanian products, improve quality standards, expand base of exported goods and services, and promote joint Jordan-U.S. investments.
Judeh stressed the importance of "institutional" cooperation in the areas of training, marketing, and supply chain development to ensure "sustainability" of this growth and increase "competitiveness" of Jordanian exports in the US market.
Judeh also highlighted importance of focusing on exporting technical services that have "high added value" and rely on human resources and their "highly competitive" qualifications.
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