logo
Jordan: National exports rise 11.6% in Q1 2025, value $3bln

Jordan: National exports rise 11.6% in Q1 2025, value $3bln

Zawya23-05-2025

AMMAN — Jordan's total exports increased by 11.6 per cent during the first quarter of 2025 compared with the same period last year, driven by an 11.7 per cent increase in national exports and a 10.4 per cent rise in re-exports, according to figures released by the Department of Statistics (DoS).
The DoS monthly report on foreign trade also highlighted a 6.6 per cent rise in imports, which in turn contributed to a 2.2 per cent increase in the trade deficit during the first quarter of 2025 compared to the same period in 2024.
Total exports during this period reached JD 2.306 billion, with national exports amounting to JD 2.093 billion and re-exports totalling JD 213 million, while imports stood at JD 4.679 billion for the same period.
The trade deficit, defined as the gap between the value of total exports and imports, amounted to JD 2.373 billion in the first quarter of 2025, up from JD 2.323 billion during the corresponding period of 2024.
In March 2025 alone, total exports amounted to JD 856 million, including JD 784 million in national exports and JD 72 million in re-exports, while Imports valued at JD 1.614 billion, resulting in a trade deficit of JD 758 million for March 2025.
These figures reflect a notable improvement, with total exports increasing by 16.0 per cent compared to March 2024, and national exports rising by 18.4 per cent.
Imports also grew by 4.2 per cent, while re-exports declined by 5.3 per cent, leading to a 6.5 per cent decrease in the trade deficit.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE President, Lebanese head of state discuss regional developments over phone
UAE President, Lebanese head of state discuss regional developments over phone

Khaleej Times

timean hour ago

  • Khaleej Times

UAE President, Lebanese head of state discuss regional developments over phone

UAE President Sheikh Mohamed bin Zayed Al Nahyan and his Lebanese counterpart Joseph Aoun reiterated the importance of stability and security across the region and said that it was vital to promote peace. The two leaders spoke over the phone on Saturday, May 31 during which they discussed relations between the two countries and explored ways to enhance cooperation across various sectors. Earlier in the week, Lebanese Prime Minister Dr. Nawaf Salam was in Dubai for the Arab Media Summit during which he expressed deep gratitude to the UAE and President Sheikh Mohamed for fulfilling promises to allow Emiratis to return to their 'second home' Lebanon. 'Lebanon does not forget the gestures of our brothers in the Arabian Gulf.' Dr. Salam had said. The Lebanese premier said that approximately 190,000 Lebanese citizens live and work in the UAE. UAE and Lebanon agreed to allow citizens to travel after taking the necessary measures to facilitate movement between the two countries and establishing appropriate mechanisms. UAE citizens were allowed to travel to Lebanon effective May 7 but prior registration on the Ministry of Foreign Affairs' Twajudi platform is mandatory.

OPEC+ countries to boost oil production, add 411,000 barrels per day in July
OPEC+ countries to boost oil production, add 411,000 barrels per day in July

Khaleej Times

time2 hours ago

  • Khaleej Times

OPEC+ countries to boost oil production, add 411,000 barrels per day in July

Saudi Arabia, Russia and six other key OPEC+ members announced on Saturday a huge increase in crude production for July. They will produce an additional 411,000 barrels a day — the same target set for May and then June — according to a statement, which is more than three times greater than the group had previously planned. In recent years the 22-nation group had agreed to daily reductions of 2.2 million barrels with the aim of boosting prices. But in early 2025, leading members of the group known as the "Voluntary Eight", or V8, decided on the gradual output increase and subsequently began to accelerate the pace. The moves have resulted in oil prices plummeting to around $60 per barrel, the lowest level in four years. Trump pressure OPEC+ "struck three times: (the output target for) May was a warning, June a confirmation and July a warning shot", Rystad Energy analyst Jorge Leon told AFP. "The scale of the production increase reflects more than just internal supply dynamics," he said. "This is a strategic adjustment with geopolitical aims: Saudi Arabia seems to be bowing to Donald Trump's requests." Shortly after taking office, the US president called on Riyadh to ramp up production in order to bring down oil prices, meaning cheaper prices at the pump for American consumers. Saturday's decision comes after a meeting of all OPEC ministers on Wednesday, where the alliance's collective production policy was reaffirmed. The decision is officially justified by "healthy market fundamentals" covering oil reserves and structural demand growth during coming months. Riyadh 'angry' But markets have met this view with scepticism amid concerns about demand and a trade war launched by the United States. Analysts see several possible motivations for the production hikes, one of them being Saudi Arabia and others penalising members for not keeping to their quotas under the cuts first agreed in 2022. The increase is all the more likely due to "the latest statements of Kazakh Energy Minister Yerlan Akkenzhenov, who has apparently already informed OPEC that his country will not reduce production," said Thu Lan Nguyen, an analyst at Commerzbank. "Saudi Arabia is angry with Kazakhstan", which is seen as one of the main laggards, and which "produced 300,000 barrels per day more than its quota," said Bjarne Schieldrop, an analyst at SEB. Analysts meanwhile do not foresee a plunge in oil prices when markets open Monday as the announcement was largely anticipated, instead resulting in a "moderate" reaction. On Friday, the benchmark Brent crude futures price had settled at $62.61 per barrel, while West Texas Intermediate was at $60.79.

Saudi Arabia's foreign minister arrives in Syria to discuss boosting economic ties
Saudi Arabia's foreign minister arrives in Syria to discuss boosting economic ties

The National

time3 hours ago

  • The National

Saudi Arabia's foreign minister arrives in Syria to discuss boosting economic ties

Saudi Arabia's Foreign Minister Prince Faisal bin Farhan arrived in Syria on Saturday, leading a high-level delegation that aims to strengthen ties as the war-torn nation prepares for an economic opening on the expected lifting of years-long sanctions. Prince Faisal is due to meet Syrian President Ahmed Al Sharaa, and is expected to hold economic talks between the two sides as an economic delegation is accompanying the Saudi official, the Saudi foreign ministry said in a statement. The talks will focus on ways the two sides can work together "to support Syria's economy, strengthen the development of government institutions, and achieve the aspirations of the Syrian people", the ministry said. In February, Saudi Crown Prince Mohammed bin Salman met Mr Al Sharaa in Riyadh during the latter's first trip in the region as president. Mr Al Sharaa said the meeting with Prince Mohammed has shown that Saudi Arabia had 'a genuine desire to support Syria in building its future'. The Syrian president added that his meetings in Riyadh had included plans for co-operation in the fields of energy, technology, education and health. The Syrian economy has been devastated by the civil war, which began in 2011. The UN's Development Programme estimates cumulative losses – including physical damage and economic deprivation – of $923 billion at the end of last year. The estimated cost of reconstruction has varied from $250 billion and $500 billion. The national economy, which had been maintaining a brisk pace of growth before the protests against the regime of deposed president Bashar Al Assad, has struggled since: gross domestic product plunged 6.4 per cent in 2016 before gradually recovering, government data shows. But the situation has been improving: in March, Syrian President Ahmad Al Shara announced new members in his government, appointing 23 ministers in a broadened cabinet, a move seen as an important milestone in the transition from decades of Al Assad family rule and the improvement of ties with the West. It further accelerated after US President Donald Trump, during his Gulf tour this week, announced the lifting of sanctions on Syria, drawing cheers from its citizens and optimism from analysts. He also met Mr Al Shara in Riyadh. On May 16, the World Bank cleared Syria of its $15.5 million outstanding debt after Saudi Arabia and Qatar paid for it, in another positive sign for the nation's damaged economy. The clearing of the arrears, made effective on May 12, reinstates Syria's eligibility to receive World Bank support and operations after a 14-year hiatus, the Washington-based institution said. Saudi Arabia and Qatar announced their plans to settle Syria's outstanding debts on April 27, in "support of and to accelerate the recovery" of Syria, following discussions at the World Bank and International Monetary Fund 's spring meetings in Washington. Support from Syria's Gulf neighbours will be key to its recovery: financial deposits from Gulf allies will support Syria's monetary stability and rebuild confidence in its commercial banking system as the country grapples with near-depleted foreign exchange reserves, analysts have said. Also in May, Damascus and DP World, the Dubai-based global ports operator, signed an initial agreement worth $800 million to develop Syria's port of Tartus, aimed at strengthening port infrastructure and logistics services in the country.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store