Exports Rise 1.6% In Q1, Reflecting Expanding Global Market Reach - Industry Minister

(MENAFN- Jordan Times) AMMAN - Minister of Industry, Trade and Supply Yarub Qudah said on Monday that foreign trade results for the first quarter of this year reflect the resilience of the national economy and the ability of Jordan's productive sectors to maintain their presence in external markets despite economic and regional challenges.

Qudah said that the 1.6 per cent increase in national exports during the first quarter, reaching JD2.129 billion, is a positive indicator of the growing competitiveness of Jordanian products and their expanding access to global markets, the Jordan News Agency, Petra, reported.

He noted that export performance was concentrated in several value-added industrial sectors, led by garments, raw potash and pharmaceutical preparations, reflecting the diversity of the national production base and its capacity to meet varied market demands.

He pointed to a notable rise in exports to key markets, including 45.3 per cent to Syria, 74.1 per cent to China and 69.9 per cent to EU countries, stressing that this reflects successful government and private sector efforts to open new markets and strengthen trade relations with economic partners.

He said these positive indicators are the result of government policies aimed at enhancing the competitiveness of national industry, improving the business environment and facilitating trade flows, alongside efforts under the Economic Modernisation Vision to increase the contribution of industry and exports to economic growth.

Qudah also said that the ministry continues to work with the private sector to address challenges facing exporters and make better use of free trade agreements with global blocs and markets, strengthening Jordan's position as a regional hub for production and export and expanding opportunities for national products in new and promising markets.

He also said that imports declined by 2.9 per cent over the same period, reducing the trade deficit by 6.3 per cent to JD1.907 billion. He also noted that the improved coverage ratio of imports by exports, which reached 59 per cent, reflects a positive development in overall trade performance.

Qudah reiterated that the ministry will continue to implement export support programmes, develop foreign markets, and enhance the value-added of national industries, in line with the Economic Modernisation Vision, which aims to boost exports, attract industrial investment, and create quality job opportunities for Jordanians across the Kingdom.

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