Jordan’s Trade Gap Widens 42 Percent

AMMAN, 12 April 2004 — Jordan’s balance of trade deficit grew by 42 percent in the first two months of 2004, compared with the same period of last year, to 338 million dinars ($477 million) from 238 million dinars ($336 million), the Planning Ministry announced yesterday. Economists attributed the trade gap expansion mainly to a 34.8 percent 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 percent growth in the oil bill, to 111 million dinars ($157 million) due to the rising oil prices on the world market, weighed heavily on the volume of imports, an economist said.