- Jordan’s trade deficit increased by JD 271 million or 4.1% during the first eight months of 2014, compared to the same time period in 2013. The trade deficit stands at JD 6,823 million for the first eight months of 2014, compared to JD 6,552 million for the same time period in 2013
- Both exports and imports grew over the same time period, as exports grew by 5.9% while imports grew at a slower pace of 4.8%
- Total exports grew to JD 3,931 million during the first eight months of the year, from JD 3,711 million for the same time period in 2013, driven by fertilizers (up 37%) and fruit and vegetable (up 16%), while exports of phosphates increased around 10% after fluctuating during the beginning of the year and potash continued to decline. Meanwhile, imports grew to reach JD 10,754 million from JD 10,263 million for the same time period, due to an machinery and machinery equipment imports by 11%, and vehicles and motorcycles imports grew by 22%
- Crude oil imports, which make up more than one quarter of total imports, increased by 19% to reach JD 3,023 million from JD 2,546 million over the time periods, which could indicate volatility in Egyptian gas supplies and reserves
- If the Egyptian gas supplies remain inconsistent, it is anticipated that the oil bill will reverse the 2013 trend and instead grow in 2014. In addition, and with the continuous influx of Syrian refugees, it is expected that the trade deficit will remain at high levels witnessed in 2013
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