Latest news with #DepartmentofStatistics
Ammon
a day ago
- Business
- Ammon
Exports now cover 49 per cent of imports – A step forward, but not enough
Raad Mahmoud Al-Tal The Department of Statistics has released the foreign trade data for the first quarter of 2025, showing a modest improvement in export performance. However, the trade balance remains significantly negative. Total exports rose by 11.6 per cent, reaching JD2.31 billion, while imports increased by 6.6 per cent to JD4.68 billion. As a result, the trade deficit widened by 2.2 per cent to JD2.37 billion compared to the same period in 2024. One of the most important indicators in external trade analysis is the export-to-import coverage ratio, which measures how much of a country's imports are financed by its exports. A ratio of over 100 per cent indicates a surplus, while a lower ratio reflects a trade deficit that must be financed externally. For Jordan, this ratio improved slightly from 47 per cent in Q1 2024 to 49 per cent in Q1 2025. In practical terms, this means exports now cover nearly half of imports. While still far from a balanced trade position, this marks a small but encouraging shift toward greater economic self-reliance. In March alone, the coverage ratio reached 53 per cent, compared to 48 per cent in March 2024. This reflects renewed momentum in key export sectors. National exports grew by 11.7 per cent, rising from JD1.87 billion to JD2.09 billion. While exports of raw phosphate and pharmaceuticals declined, these losses were offset by gains in chemical fertilizers, jewelry, and other products. Additionally, re-exports increased by 10.4 per cent, signalling more activity in trade and logistics. On the import side, the 6.6 per cent rise can be attributed to stronger domestic demand and possibly higher international prices. Notable increases were recorded in industrial machinery (29 per cent), electrical machinery (45.8 per cent), and cereals (34.1 per cent)—indicating continued investment and economic activity. On the other hand, imports of crude oil and its derivatives fell by 6.1 per cent, and vehicle imports dropped by 24.4 per cent, which helped ease the overall import bill. Export composition reflects some level of diversification, with strong performance in garments, fertilisers, potash and jewelry. These sectors are benefiting from stable international demand. However, the decline in phosphate and pharmaceutical exports suggests market or production challenges. Import patterns show a high reliance on capital goods, which could indicate productive investments, but also highlight the economy's continued dependence on external supply chains, a structural vulnerability. Despite better export performance, the overall trade deficit remains large at JD2.37 billion. This highlights Jordan's continued reliance on imports to meet domestic needs. Narrowing this gap will require deeper structural reforms, especially boosting productive sectors and expanding access to international markets. On a positive note, exports increased to several important regions, including Arab countries, North America, India and parts of Europe such as the Netherlands. This reflects some success in market diversification. However, the fact that imports from many of these same regions also grew means that trade with them still tends to be unbalanced. More targeted trade policies are needed to promote local exports and reduce non-essential imports. Improving the export-to-import ratio requires more than just short-term gains. It demands long-term reforms focused on strengthening export-oriented sectors, encouraging domestic investment, and upgrading trade infrastructure. A more competitive business environment, better logistics, and support for high-value-added industries are all essential to boosting Jordan's export capacity. While the current coverage ratio of 49 per cent marks an improvement, it remains insufficient. The medium-term goal should be to lift this ratio above 60 per cent. This is achievable if local production is supported more effectively, the export base is diversified, and dependence on imports is reduced. A more balanced trade account is not only desirable, it is necessary for sustainable economic growth and resilience.
Yahoo
3 days ago
- Health
- Yahoo
Life expectancy of Singapore's population rises in 2024, marking improvement over Covid-19 years
SINGAPORE – The life expectancy at birth for the Singapore population in 2024 improved from both 2023 and over the past decade, said the Department of Statistics on May 27. Life expectancy of Singapore residents rose by 0.9 years in the past decade from 82.6 years in 2014 to 83.5 years in 2024. The latest figure is also slightly higher than 83.2 years in 2023. This follows a dip in life expectancy between 2020 and 2023, which was attributed to the impact of the Covid-19 pandemic. Life expectancy refers to the average number of years a person may expect to live, if the mortality rates apply throughout their lives. The information is contained in the Report On The Complete Life Tables For Singapore Resident Population 2023-2024 released by the Department of Statistics. Singapore residents refer to Singaporeans and permanent residents. While both genders enjoyed a longer life expectancy in the past decade, women have a longer life span compared with men. The life expectancy at birth for women was 85.6 years in 2024, compared with 81.2 years for men. Over the last decade, life expectancy for men improved by 0.9 years from 80.3 years in 2014, while the female life expectancy improved by 0.8 years from 84.8 years in 2014. The report released on May 27 said that life expectancies for 2020 to 2023 were affected by the higher mortality rates arising from the Covid-19 pandemic. In 2021, The Straits Times reported that Singapore residents' life expectancy fell for the first time in history since such data became available more than 60 years ago, and this was due to higher mortality rates arising from the Covid-19 pandemic. The life expectancy at birth fell by about 10 weeks from 83.7 years in pre-pandemic 2019 to 83.5 years in 2021. Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
BusinessToday
3 days ago
- Health
- BusinessToday
Singaporeans Live Longer, Life Expectancy Rose To 83.5 Years
Singapore residents' life expectancy at birth rose to 83.5 years in 2024, an increase of 0.3 years from the previous year. The preliminary data released by the Department of Statistics (SingStat) on Tuesday (May 27) also showed life expectancy improved over the last decade, up from 82.6 years in expectancy in 2023 was affected by higher mortality rates due to the COVID-19 pandemic. 'As these higher mortality rates are assumed to apply throughout a lifetime, life expectancy data for 2023 may not accurately represent the number of years individuals can expect to live, if mortality rates return to pre-pandemic levels,' SingStat said. At age 65, life expectancy improved from 20.9 years in 2023 to 21.2 years in 2024. It increased by 0.6 years over the last 10 years, from 20.6 years in 2014. Data on life expectancy in SingStat's report shows the average number of additional years that people might expect to live if these mortality rates apply throughout their lives. It does not take into account future changes in mortality, said the department. CNA Related
BusinessToday
3 days ago
- Business
- BusinessToday
Manufacturing Industry Operation Remains Steady In Q1 At 81.8% Capacity
The Manufacturing industry operated at 81.8 per cent of capacity utilisation in the first quarter of 2025, increased by 1.0 percentage points compared to the same quarter of the preceding year (Q1 2024: 80.8%). The Department of Statistics said this was inline with the performance of Industrial Production Index of Manufacturing sector, which increased 4.2 per cent year-on-year during this quarter. In the first quarter of 2025, sub-sectors posted capacity utilisation above 80 per cent, with the highest rate recorded by the Non-metallic mineral products, basic metal & fabricated metal products sub-sector at 85.2 per cent increased 2.3 percentage points. DOSM also noted that this was followed by the increased 2.5 percentage points in the Textiles, wearing apparel, leather & footwear with a rate of 82.6 per cent. On a quarter-on-quarter comparison, the capacity utilisation of the Manufacturing industry recorded a mild declined of 0.1 percentage points (Q4 2024: 81.9%). The year-on-year increase in monthly capacity utilisation performance was recorded throughout the first quarter of 2025, which was January 2025 (81.8%; +0.9 percentage points); February 2025 (81.2%; +1.4 percentage points); and March 2025 (82.5%; +0.8 percentage points). The capacity utilisation in the export-oriented industries increased during this quarter, by 1.1 percentage points year-on-year to 80.6 per cent (Q1 2024: 79.5%). The highest rate resulted in the Manufacture of furniture; and Manufacture of machinery & equipment n.e.c. sub-sectors, which rise by 0.4 percentage points to 88.4 per cent and up by 2.2 percentage points to 85.9 per cent respectively. Nonetheless, three industries recorded the capacity utilisation below 80 per cent namely Manufacture of vegetable & animal oils & fats (72.8%); Manufacture of wood & products of wood & cork, except furniture, manufacture of articles of straw & plaiting materials (75.4%); and Manufacture of computer, electronics & optical products (79.2%). As compared to the fourth quarter of 2024, the capacity utilisation rate of the export-oriented industries declined marginally by 0.3 percentage points from 80.9 per cent in the preceding quarter. In addition, the domestic-oriented capacity utilisation industries remained positive albeit at a slower rate of 0.9 percentage points to 84.5 per cent in first quarter of 2025. Most of the industries in this segment posted the higher utilisation rates, particularly in the Manufacture of fabricated metal products, except machinery & equipment (+3.4 percentage points; 86.6%); and the Manufacture of other non-metallic mineral products (+1.8 percentage points; 87.3%). Nevertheless, Manufacture of motor vehicles, trailers & semi-trailers recorded a decline to register a rate of 82.9 per cent; and followed by the Manufacture of paper and paper products industry with 77.9 per cent. Factors such as low demand; insufficient supply of materials; and the repair & maintenance of machinery & equipment remained as the main cause of the under-utilisation of capacity in the Manufacturing industry. As compared to the last quarter, the capacity utilisation in the domestic-oriented industries were up by 0.6 percentage points from 83.9 per cent. The Manufacturing industry capacity utilisation for seven states surpassed the national rate in the first quarter of 2025, namely WP Labuan (98.5%); Terengganu (86.7%); Johor (85.2%); Pahang (84.5%); Melaka (84.2%); Selangor (83.6%); and Negeri Sembilan (83.0%). Whereas, the lowest capacity utilisation rate posted by Kelantan with 66.2 per cent decreased by 3.6 percentage points as compared to the same quarter last year. Related
Straits Times
3 days ago
- Health
- Straits Times
Life expectancy of Singapore's population rises in 2024, marking improvement over Covid-19 years
Life expectancy of Singapore residents rose by 0.9 years in the past decade from 82.6 years in 2014 to 83.5 years in 2024. PHOTO: ST FILE Life expectancy of Singapore's population rises in 2024, marking improvement over Covid-19 years SINGAPORE - The life expectancy at birth for the Singapore population in 2024 improved from both 2023 and over the past decade, said the Department of Statistics on May 27. Life expectancy of Singapore residents rose by 0.9 years in the past decade from 82.6 years in 2014 to 83.5 years in 2024. The latest figure is also slightly higher than 83.2 years in 2023. This follows a dip in life expectancy between 2020 and 2023, which was attributed to the impact of the Covid-19 pandemic. Life expectancy refers to the average number of years a person may expect to live, if the mortality rates apply throughout their lives. The information is contained in the Report on the Complete Life Tables for Singapore Resident Population 2023-2024 released by the Department of Statistics. Singapore residents refer to Singaporeans and permanent residents. While both genders enjoyed a longer life expectancy in the past decade, women have a longer life span compared to men. The life expectancy at birth for women was 85.6 years in 2024, compared to 81.2 years for men. Over the last decade, life expectancy for men improved by 0.9 years from 80.3 years in 2014, while the female life expectancy improved by 0.8 years from 84.8 years in 2014. The report released on May 27 said that life expectancies for 2020 to 2023 was affected by the higher mortality rates arising from the Covid-19 pandemic. In 2021, The Straits Times reported that Singapore residents' life expectancy fell for the first time in history since such data became available more than 60 years ago, and this was due to higher mortality rates arising from the Covid-19 pandemic. The life expectancy at birth fell by about 10 weeks from 83.7 years in pre-pandemic 2019 to 83.5 years in 2021. Join ST's WhatsApp Channel and get the latest news and must-reads.
