Jordan's Exports to GAFTA Countries Rise by 15.6%
Amman: Jordan's exports to countries within the Greater Arab Free Trade Area (GAFTA) recorded a 15.6% increase by the end of November 2024, reaching JD 3.257 billion compared to JD 2.818 billion during the same period in 2023.
According to Bahrain News Agency, the data showed that Jordan's imports from GAFTA countries also grew during the same period, rising by 8.5% to JD 4.694 billion from JD 4.326 billion in 2023. This led to a narrowing of the trade deficit with GAFTA countries to JD 1.437 billion, down from JD 1.508 billion in the corresponding period of 2023.
Overall, trade volume between Jordan and GAFTA countries increased to JD 7.951 billion by November 2024, compared to JD 7.144 billion in the same period of 2023.
Saudi Arabia emerged as Jordan's top export destination within GAFTA, with exports to the kingdom reaching JD 1.0736 billion, a 13.7% rise from JD 911 million in 2023. Saudi Arabia also ranked as Jordan's largest import source, with imports totaling JD 2.699 billion, resulting in a trade deficit of JD 1.663 billion with Saudi Arabia by the end of November 2024.
Jordan's exports to GAFTA countries include fertilizers, pharmaceuticals, agricultural products such as fresh and frozen fruits and vegetables, salts, skin care products, food preparations, furniture, textiles, clothing, and paints.
Imports from GAFTA countries primarily consist of crude oil and its derivatives, jewelry, food products, plastic sheets, titanium oxide, polyethylene, polystyrene, iron, and steel products, among others.
The Arab Free Trade Area, an economic alliance aimed at fostering trade and economic integration among Arab countries, became fully operational in January 2005. It currently includes 18 member states working toward enhancing regional trade through reduced customs duties.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Biz Bahrain
5 days ago
- Biz Bahrain
SICO Signs a Letter of Intent with The Arab Authority for Agricultural Investment and Development (AAAID) to Boost Agricultural Investment and Food Security
SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the signing of a Letter of Intent with the Arab Authority for Agricultural Investment and Development (AAAID). SICO will act as the financial advisor to support AAAID's strategic initiatives by identifying and sourcing direct investment opportunities within the agricultural and food security sectors. The primary objective of signing this Letter of Intent is to support AAAID's goals within the Arab and GCC region, with a particular emphasis on Bahrain and Saudi Arabia. This will be achieved by collaborating on projects for AAAID, facilitating investment through equity and/or debt financing opportunities, and engaging in business development activities. Najla Al Shirawi, Group CEO of SICO, said, 'We are thrilled to announce our strategic collaboration with AAAID. By leveraging our expertise in investment sourcing, acquisition advisory, capital-raising, and joint ventures, we aim to drive value and promote sustainable growth within the agriculture sector. Together, we are committed to making a significant impact on the agricultural industry and ensuring a secure and sustainable future.' HE. Dr. Obaid Al Zaabi, Chairman of AAAID, stated, 'This collaboration aligns with our strategic vision to enhance our capabilities, enabling us to equip our projects with the necessary tools and information to achieve our ambitious goals and aspirations. By capitalizing on SICO's extensive expertise in the industry, we are well-positioned to identify and execute high-impact projects that will drive sustainable growth. Our collaboration will focus on innovative solutions and strategic investments that address the unique challenges of our region.' Through this collaboration, SICO will provide acquisition advisory services, including due diligence, valuations, and transaction structuring and execution support. Additionally, SICO will assist in capital-raising activities for AAAID's invested companies and explore joint venture opportunities. The partnership will emphasize promoting sustainable agricultural practices and enhancing food security resilience across the region.
Syyaha
5 days ago
- Syyaha
SICO Signs a Letter of Intent with The Arab Authority for Agricultural Investment and Development (AAAID) to Boost Agricultural Investment and Food Security
SICO BSC (c), a leading regional asset manager, broker, and investment bank, with direct presence in Bahrain, Saudi Arabia, and the UAE, announced today the signing of a Letter of Intent with the Arab Authority for Agricultural Investment and Development (AAAID). SICO will act as the financial advisor to support AAAID's strategic initiatives by identifying and sourcing direct investment opportunities within the agricultural and food security sectors. The primary objective of signing this Letter of Intent is to support AAAID's goals within the Arab and GCC region, with a particular emphasis on Bahrain and Saudi Arabia. This will be achieved by collaborating on projects for AAAID, facilitating investment through equity and/or debt financing opportunities, and engaging in business development activities. SICO's wholly-owned subsidiary, SICO Capital , will provide the agreed upon services in Saudi Arabia. Najla Al Shirawi, Group CEO of SICO, said, 'We are thrilled to announce our strategic collaboration with AAAID. By leveraging our expertise in investment sourcing, acquisition advisory, capital-raising, and joint ventures, we aim to drive value and promote sustainable growth within the agriculture sector. Together, we are committed to making a significant impact on the agricultural industry and ensuring a secure and sustainable future.' HE. Dr. Obaid Al Zaabi, Chairman of AAAID, stated, 'This collaboration aligns with our strategic vision to enhance our capabilities, enabling us to equip our projects with the necessary tools and information to achieve our ambitious goals and aspirations. By capitalizing on SICO's extensive expertise in the industry, we are well-positioned to identify and execute high-impact projects that will drive sustainable growth. Our collaboration will focus on innovative solutions and strategic investments that address the unique challenges of our region.' Through this collaboration, SICO will provide acquisition advisory services, including due diligence, valuations, and transaction structuring and execution support. Additionally, SICO will assist in capital-raising activities for AAAID's invested companies and explore joint venture opportunities. The partnership will emphasize promoting sustainable agricultural practices and enhancing food security resilience across the region.
Daily Tribune
6 days ago
- Daily Tribune
Arab trade opportunities open for Bahraini manufacturers via new industrial platform
The Ministry of Industry and Commerce has urged Bahraini manufacturers to register on the Arab Industrial and Mining Products Requests and Offers Platform ( an initiative launched by the Arab Industrial Development, Standardization and Mining Organization. The platform is designed to connect Arab manufacturers with business opportunities across the region, aiming to boost economic integration and increase trade volumes. Dr. Khalid Fahad Al-Alawi, Assistant Undersecretary for Industrial Development at the Ministry, described the platform as a valuable opportunity for Bahraini manufacturers to showcase their products at the Arab level and gain insights into the needs of regional markets in the industrial and mining sectors. He noted that this initiative aligns with the Industrial Sector Strategy (2022–2026), which focuses on supporting national exports and enabling Bahraini manufacturers to expand their reach and compete for regional purchasing contracts. Dr. Al-Alawi affirmed the Ministry's commitment to fostering regional cooperation and deeper integration among Arab industrial sectors. He also praised Bahrain's manufacturing sector, highlighting its advanced capabilities and expertise that position it to compete both regionally and globally.
