Wa'ed rababa'ah: Jordan's national exports to countries of the Greater Arab Free Trade Area (GAFTA) continued their upward trajectory during the first ten months of the current year, reinforcing Arab countries' position as Jordan's leading trading partners.
According to Jordan News Agency, foreign trade data issued by the Department of Statistics showed that national exports to GAFTA countries increased by 8.7% to reach JOD 3.242 billion, compared with JOD 2.983 billion during the same period last year. These exports accounted for approximately 41.5% of Jordan's total exports.
On the other hand, Jordan's imports from GAFTA countries grew by 8% over the same period, reaching JOD 4.585 billion, up from JOD 4.245 billion in the corresponding period of last year.
As a result, the trade balance deficit with GAFTA countries amounted to around JOD 1.343 billion during the first ten months of the year, compared with JOD 1.262 billion in the same period last year.
In terms of export destinations, Saudi Arabia topped the list of Arab countries importing Jordanian goods, with exports valued at JOD 1.048 billion, reflecting a growth rate of 9.7%. Exports to Syria recorded a surge of 341.3%, reaching JOD 203 million, while exports to Iraq rose by 3.6% to JOD 782 million.
Jordan's exports to GAFTA countries are concentrated in commodities such as fertilizers, pharmaceuticals, agricultural products like fresh and frozen fruits and vegetables, salts, skincare products, food preparations, furniture, textiles, garments, and paints.
Meanwhile, Jordan's imports from the region mainly include crude oil and its derivatives, jewelry and precious metals, food products, plastic sheets and panels, titanium dioxide, polyethylene and polystyrene, in addition to iron and iron products.
It is worth noting that the Greater Arab Free Trade Area is a joint economic framework comprising 18 Arab countries. It aims to enhance economic integration and facilitate trade flows through the reduction of customs duties, and it entered into force in January 2005.