A few economic highlights from a recent article:
– The kingdom shipped $4.1 billion worth of goods last year, a 12.9 per cent lift on 2005’s figures and, if re-exports are included in the mix, the total rises to $5.1 billion, a jump of more than 20 per cent. But what, ultimately, will cause concern is the fact that, despite these respectable increases, Jordan’s trade deficit actually widened by 1.3 per cent to approach $6.4 billion.
– In 2006, the US imported close to $1.3 billion worth of Jordanian products, 31.2 per cent of total exports, with clothing making up the overwhelming majority of the goods purchased.
– Iraq provided Jordan’s second biggest export market but at $465 million, and 11.3 per cent of total exports. Jordan’s exports to its troubled neighbour actually fell almost 14 per cent and it needed a lift of well over $100 million in additional exports to another neighbour, Saudi Arabia, to more than make up for the shortfall.
– Saudia’s vast energy resources accounted for 80 per cent of the $3 billion worth of imports Amman received last year.
– Imports from the US made up just 4.7 per cent of total imports and cost Jordan $547 million.
– Between the 2001 implementation of the Jordan-US free trade agreement and 2005, the kingdom’s exports to the States rocketed by 453 per cent, while imports, despite their relatively small proportion, grew by 18 per cent year on year.
– The US Embassy in Jordan revealed over $500 million was supplied to the kingdom last year as either financial or military assistance. Since 1952, the US has given Jordan a total of $4.7 billion.
– Only $31.2 million was pumped into the economy from US and Canadian investors in the first nine months of last year, with most investment coming from the Gulf.
– Kuwait has so far invested more than $6 billion in Jordan.