Latest news with #Judeh
Zawya
17-03-2025
- Business
- Zawya
Jordan: Trade balance with US records surplus of $1bln in 2024
AMMAN: The trade balance with the United States recorded a surplus of JD877 million in 2024, according to foreign trade data released by the Department of Statistics and monitored by the Jordan News Agency, Petra. The data showed a "significant" increase in Jordan's national exports to the US in 2024, reaching JD2.208 billion compared to JD1.958 billion in 2023, marking an increase of 12.8 per cent. Jordan's imports from the US amounted to JD1.331 billion in 2024, up from JD1.161 billion in 2023, marking a 14.6 per cent rise. As a result, the total trade volume between the two countries grew to JD3.539 billion in 2024, compared to JD3.119 billion the previous year. According to the statistical data, national exports to the US accounted for 25.7 per cent of Jordan's total exports in 2024. Chairman of the American Chamber of Commerce in Jordan Samer Judeh told Petra that this increase reflects the "success" of Jordanian products in penetrating US markets, benefiting from the free trade agreement between the two countries, which came into full effect in 2010 and has boosted trade volume by more than 800 per cent. Judeh added that exports and support for national industries are key priorities under Jordan's Economic Modernisation Vision. He stressed the significant responsibility on industry leaders to formulate policies and coordinate efforts to achieve these goals. He pointed out that several Jordanian sectors are witnessing a notable growth in exports to the US, leveraging the free trade agreement. The clothing and accessories sector continues to lead Jordan's exports, thanks to the ease of applying the agreement's rules of origin, which provide Jordanian products with a "strong competitive edge." Meanwhile, the fertiliser and chemical products sector is experiencing sustained growth, supported by the abundance of natural resources such as phosphate and potash. Judeh also noted the increasing demand for Jordanian pharmaceutical products in international markets due to their high quality and adherence to the latest global standards. The jewellery sector has also attracted USconsumers with its innovative designs and exceptional craftsmanship. Regarding the ICT sector, he highlighted that it is establishing a strong presence in the US market, benefiting from Jordan's thriving entrepreneurial ecosystem. Jordanian food and animal products have also successfully entered new markets in the US by complying with international manufacturing, packaging, and labelling standards. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Arab News
15-03-2025
- Business
- Arab News
Jordan's trade surplus with US reached $1.23bn in 2024
AMMAN: Jordan recorded a trade surplus of 877 million dinars ($1.23 billion) with the US in 2024, according to foreign trade data released by the Department of Statistics on Saturday. The data, reported by the Jordan News Agency (Petra), highlighted significant growth in national exports to the US, which reached JD2.208 billion last year, up from JD1.958 billion in 2023 — an increase of 12.8 percent. Meanwhile, the kingdom's imports from the US market also saw a rise, reaching JD1.331 billion in 2024, compared to JD1.161 billion the previous year, marking an increase of 14.6 percent. As a result, the total volume of trade between the two countries grew to JD3.539 billion, up from JD3.119 billion in 2023. National exports to the US accounted for 25.7 percent of Jordan's total exports last year. Speaking to Petra, Samer Judeh, chairman of the American Chamber of Commerce in Jordan, attributed this growth to the success of Jordanian products in penetrating the US market, benefiting from the Jordan-US Free Trade Agreement, which was fully implemented in 2010. He noted that the agreement has contributed to an 800 percent increase in bilateral trade since its inception. Judeh emphasized that enhancing exports and supporting national industries remain key priorities under Jordan's Economic Modernization Vision. He highlighted the private sector's role in shaping policies and coordinating efforts to further strengthen trade ties with the American market. To sustain this momentum, Judeh underscored the need to enhance the added value of Jordanian products, improve quality standards, diversify exports, and promote joint investments between Jordan and the US. He also stressed the importance of institutional cooperation in training, marketing, and supply chain development to ensure long-term growth and boost the competitiveness of Jordanian exports in the US market. And he pointed to the potential of high-value technical services driven by Jordan's skilled workforce, which could play a crucial role in further expanding trade relations between the two nations.
Jordan Times
15-03-2025
- Business
- Jordan Times
Trade balance with US records surplus of JD877m in 2024
Jordan's imports from the US amount to JD1.331 billion in 2024, up from JD1.161 billion in 2023, marking a 14.6 per cent rise (File photo) AMMAN — The trade balance with the United States recorded a surplus of JD877 million in 2024, according to foreign trade data released by the Department of Statistics and monitored by the Jordan News Agency, Petra. The data showed a "significant" increase in Jordan's national exports to the US in 2024, reaching JD2.208 billion compared to JD1.958 billion in 2023, marking an increase of 12.8 per cent. Jordan's imports from the US amounted to JD1.331 billion in 2024, up from JD1.161 billion in 2023, marking a 14.6 per cent rise. As a result, the total trade volume between the two countries grew to JD3.539 billion in 2024, compared to JD3.119 billion the previous year. According to the statistical data, national exports to the US accounted for 25.7 per cent of Jordan's total exports in 2024. Chairman of the American Chamber of Commerce in Jordan Samer Judeh told Petra that this increase reflects the "success" of Jordanian products in penetrating US markets, benefiting from the free trade agreement between the two countries, which came into full effect in 2010 and has boosted trade volume by more than 800 per cent. Judeh added that exports and support for national industries are key priorities under Jordan's Economic Modernisation Vision. He stressed the significant responsibility on industry leaders to formulate policies and coordinate efforts to achieve these goals. He pointed out that several Jordanian sectors are witnessing a notable growth in exports to the US, leveraging the free trade agreement. The clothing and accessories sector continues to lead Jordan's exports, thanks to the ease of applying the agreement's rules of origin, which provide Jordanian products with a "strong competitive edge." Meanwhile, the fertiliser and chemical products sector is experiencing sustained growth, supported by the abundance of natural resources such as phosphate and potash. Judeh also noted the increasing demand for Jordanian pharmaceutical products in international markets due to their high quality and adherence to the latest global standards. The jewellery sector has also attracted USconsumers with its innovative designs and exceptional craftsmanship. Regarding the ICT sector, he highlighted that it is establishing a strong presence in the US market, benefiting from Jordan's thriving entrepreneurial ecosystem. Jordanian food and animal products have also successfully entered new markets in the US by complying with international manufacturing, packaging, and labelling standards.
