Jordan’s exports to GAFTA countries decline in first-half of 2020

Stocks News
Jordan’s national exports to countries of the Greater Arab Free Trade Area (GAFTA) in the first-half of 2020 dropped by 2.1 percent to JD907 million, compared with JD926 million in the same period of 2019, the Department of Statistics (DoS) announced on Thursday.

The monthly DoS report, showed that imports from member states of the GAFTA in the first six months of this year also slumped by 23.1 percent, reaching JD1.4 billion, compared to JD1.8 billion during the same comparison period.

The trade balance deficit with GAFTA countries declined in the first-half of 2020 by 43.5 percent to JD493 million from JD874 million in the same period of last year.

Saudi Arabia topped the value of national exports to the GAFTA countries in the first 6-month of the year, reaching JD254 million, while Jordan’s imports from Saudi Arabia stood at JD773 million, and thus the trade balance deficit between the two counties reached JD519 million at the end of the first-half of 2020.