Jordan's trade gap widens as imports grow

AMMAN - Jordan's balance of trade deficit grew by 42 per cent in the first two months of 2004 compared with the same period last year, to 338 million dinars ($477 million) from 238 million dinars ($336 million), the Planning Ministry said yesterday.

By (DPA)

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Published: Tue 13 Apr 2004, 12:20 PM

Last updated: Thu 2 Apr 2015, 11:36 AM

Economists attributed the trade gap expansion mainly to a 34.8 per cent increase in imports, which stood at the end of February at 727 million dinars ($1.027 billion), compared with 539 million dinars ($761 million) in the first two months of last year.

A 43 per cent growth in the oil bill weighed heavily on the volume of imports, an economist said. Jordan lost an estimated $300 million Iraqi oil grant as a result of the ouster of Saddam Hussein's regime. Immediately after the cessation of Iraqi oil exports to Jordan the government turned to Saudi Arabia, Kuwait and the UAE to meet its energy requirements.

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