Kingdom’s exports to GAFTA increase by 12% in 2023, imports decline by 18.5%

AMMAN — Countries within the Greater Arab Free Trade Area (GAFTA) topped the list of recipients of Jordan's exports in 2023, with an increase of 12 per cent, the Department of Statistics (DoS) said on Tuesday.

According to foreign trade data released by the DoS, the total value of Jordan’s exports to GAFTA countries reached JD3.078 billion in 2023, surpassing the previous year’s figure of JD2.738 billion.

These exports encompass a diverse range of products, including fertilisers, pharmaceuticals, fresh and refrigerated fruits and vegetables, skin care products, paints, food preparations, chocolate, furniture, fabrics, textiles and insecticides, according to the Jordan News Agency, Petra.

The Kingdom’s imports from GAFTA countries experienced a decline of 18.5%, amounting to approximately JD4.711 billion in 2023, compared with JD5.778 billion in 2022. The reduction in imports contributed to a narrowing of Jordan’s trade deficit with GAFTA nations.

These imports consist mainly of crude oil and derivatives, jewellery, dates, wheat, fish, plastic sheets and plates, titanium dioxide, polyethene, polystyrene, iron and its products, furniture, fruit trees, cheese, honey and cereals.

The GAFTA, established in January 2005, serves as an economic alliance fostering integration and low-tariff trade among Arab countries. Currently, 18 Arab nations participate in this vital trade area, reinforcing economic cooperation and regional development, according to DoS.