Jordan’s trade deficit narrows to $3 bln in Q1

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Jordan’s trade deficit fell 2.6 percent to 2.1 billion dinars ($3 billion) in the first quarter of 2018 compared with the same period last year, official figures showed on Tuesday.

Department of Statistics data showed the value of imports in the first three months of the year fell by 2.2 percent from a year earlier to 3.3 billion dinars.

The kingdom’s total exports reached 1.2 billion dinars, dropping 1.5 percent from the same period in 2017 as the value of fertilizers supplied to long-term Asian customers fell.

A chronic trade deficit and spiraling budget deficit have for years been among the biggest concerns for Jordanian economic policymakers.

Jordan’s trade deficit rose 9.9 percent to 9.2 billion dinars in 2017 against the previous year with the cost of imported oil alone rising 23 percent.

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