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During 2024.. Jordan's exports to Iraq increase by 58%
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Economy News - Follow-up
Jordanian exports to Iraq witnessed a 58% jump during the first third of the current year 2024 compared to the same period last year, according to the latest foreign trade figures issued by the Department of Statistics in Jordan.
According to the Jordanian foreign trade figures, the value of exports to Iraq during the first 4 months of the current year amounted to 232.1 million dinars, compared to 147.2 million dinars compared to the same period last year (Jordanian dinar = 1.41 US dollars).
The Iraqi market accounted for nearly 25% of the total exports of the Kingdom of Jordan to the countries of the Greater Arab Free Trade Area during the first third of the current year, amounting to 934 million Jordanian dinars. The Iraqi market
also accounted for more than 9% of the Kingdom's total exports during the first third of the current year, which amounted to 2.488 billion dinars.
The official in charge of the export file to Iraq at the Jordan Chamber of Industry, Ihab Qadri, said that the increase in exports to Iraq is due to several reasons, most notably the bilateral agreements signed between the two countries during the past period, which contributed to removing challenges and increasing the flow of products to the Iraqi market, according to the Jordanian newspaper Al-Ghad.
Qadri, who holds the position of representative of the textile and leather sector in the chamber, pointed to other reasons related to the efforts made by the chamber through sectoral trade missions, participation in exhibitions and agreements concluded by the chamber within the framework of building and developing partnership relations with the Iraqi private sector and investing in available opportunities that contribute to the advancement of trade exchanges.
He explained that Jordanian products have a presence and are popular in the Iraqi market thanks to their reputation and high quality, noting that the chamber is working within clear plans and programs to restore the luster of the national industry to its former glory in 2013, when national exports recorded large numbers.
He explained that the increase in imports is also due to the presence of many Jordanian factories that rely on importing production inputs from Iraq to complete manufacturing processes within the framework of integration and achieving common interests between the two countries.
According to data from the Jordan Chamber of Industry, Jordan exports to Iraq more than 300 national products, including soap, detergents, fertilizers, electrical wires and connectors, medicines and antibiotics, clothing, and food industries.
According to the Chamber, there are lost export opportunities to the Iraqi market, estimated at more than about $ 200 million per year, represented in the food industries, pharmaceutical industries, some plastic industries, and paper and metal packaging industries.
Regarding imports, foreign trade figures indicate that the Kingdom's imports from Iraq also witnessed a large slump during the first third of this year, with rates reaching 88% compared to the same period last year.
According to official figures, the value of the Kingdom's imports from Iraq during the first third of this year amounted to 93.4 million dinars, 49.8 million dinars compared to the same period last year. The Kingdom's
imports from Iraq are concentrated in many products, including crude oil and oils, grains, dried dates, pistachios, organic chemical products, dyes and surface colorants, non-alloyed aluminum furniture, and foodstuffs.
Iraqi industries have export opportunities to the local market estimated at more than $100 million (excluding petroleum derivatives), which are lost opportunities, represented in many sectors, most notably metals and some paper and food industries, according to data from the Jordan Chamber of Industry.
Jordan and Iraq signed a number of agreements and memoranda of understanding during the past period, including exempting the products of the two countries from any import registration system and accelerating the completion of executive steps to establish the joint economic city, in addition to electrical interconnection projects and continuing to exempt a list of Jordanian products from customs duties.
The value of national exports during the first third of this year recorded a 7% decline to reach 2.488 billion dinars, compared to 2.682 billion dinars compared to the same period last year.
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Added 07/03/2024 - 10:15 AM
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Economy News - Follow-up
Jordanian exports to Iraq witnessed a 58% jump during the first third of the current year 2024 compared to the same period last year, according to the latest foreign trade figures issued by the Department of Statistics in Jordan.
According to the Jordanian foreign trade figures, the value of exports to Iraq during the first 4 months of the current year amounted to 232.1 million dinars, compared to 147.2 million dinars compared to the same period last year (Jordanian dinar = 1.41 US dollars).
The Iraqi market accounted for nearly 25% of the total exports of the Kingdom of Jordan to the countries of the Greater Arab Free Trade Area during the first third of the current year, amounting to 934 million Jordanian dinars. The Iraqi market
also accounted for more than 9% of the Kingdom's total exports during the first third of the current year, which amounted to 2.488 billion dinars.
The official in charge of the export file to Iraq at the Jordan Chamber of Industry, Ihab Qadri, said that the increase in exports to Iraq is due to several reasons, most notably the bilateral agreements signed between the two countries during the past period, which contributed to removing challenges and increasing the flow of products to the Iraqi market, according to the Jordanian newspaper Al-Ghad.
Qadri, who holds the position of representative of the textile and leather sector in the chamber, pointed to other reasons related to the efforts made by the chamber through sectoral trade missions, participation in exhibitions and agreements concluded by the chamber within the framework of building and developing partnership relations with the Iraqi private sector and investing in available opportunities that contribute to the advancement of trade exchanges.
He explained that Jordanian products have a presence and are popular in the Iraqi market thanks to their reputation and high quality, noting that the chamber is working within clear plans and programs to restore the luster of the national industry to its former glory in 2013, when national exports recorded large numbers.
He explained that the increase in imports is also due to the presence of many Jordanian factories that rely on importing production inputs from Iraq to complete manufacturing processes within the framework of integration and achieving common interests between the two countries.
According to data from the Jordan Chamber of Industry, Jordan exports to Iraq more than 300 national products, including soap, detergents, fertilizers, electrical wires and connectors, medicines and antibiotics, clothing, and food industries.
According to the Chamber, there are lost export opportunities to the Iraqi market, estimated at more than about $ 200 million per year, represented in the food industries, pharmaceutical industries, some plastic industries, and paper and metal packaging industries.
Regarding imports, foreign trade figures indicate that the Kingdom's imports from Iraq also witnessed a large slump during the first third of this year, with rates reaching 88% compared to the same period last year.
According to official figures, the value of the Kingdom's imports from Iraq during the first third of this year amounted to 93.4 million dinars, 49.8 million dinars compared to the same period last year. The Kingdom's
imports from Iraq are concentrated in many products, including crude oil and oils, grains, dried dates, pistachios, organic chemical products, dyes and surface colorants, non-alloyed aluminum furniture, and foodstuffs.
Iraqi industries have export opportunities to the local market estimated at more than $100 million (excluding petroleum derivatives), which are lost opportunities, represented in many sectors, most notably metals and some paper and food industries, according to data from the Jordan Chamber of Industry.
Jordan and Iraq signed a number of agreements and memoranda of understanding during the past period, including exempting the products of the two countries from any import registration system and accelerating the completion of executive steps to establish the joint economic city, in addition to electrical interconnection projects and continuing to exempt a list of Jordanian products from customs duties.
The value of national exports during the first third of this year recorded a 7% decline to reach 2.488 billion dinars, compared to 2.682 billion dinars compared to the same period last year.
94 views
Added 07/03/2024 - 10:15 AM
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