Arab Today, arab today egypt upheaval hits jordan’s trade
Last Updated : GMT 03:32:11
Arab Today, arab today
Arab Today, arab today

Egypt upheaval hits Jordan’s trade

Arab Today, arab today

Arab Today, arab today Egypt upheaval hits Jordan’s trade

Amman - Arabstoday

Upheaval in Egypt hit Jordan’s trade deficit last year, helping it widen by 21 percent to 7.3 billion dinars ($10.3 billion) by cutting off cheap gas supplies, official data showed. Department of Statistics (DOS) data showed a sharp rise in the oil import bill pushed up the cost of imports by 17.6 percent to 12.9 billion dinars. Egypt’s revolution and ensuing instability led to a rupture in gas supplies used for electricity generation and forced Amman to import more expensive energy from elsewhere. The pipeline that carries Egyptian gas to Jordan and Israel has been blown up to 12 times since the start of the Egyptian uprising last year. Jordan’s overall energy bill in 2011 soared by 58 percent to 3.46 billion dinars in 2011, the data obtained by Reuters showed. A chronic trade deficit and spiraling budget deficit have for years been among the biggest concerns for Jordanian economic policymakers. The current account deficit has traditionally been covered by strong foreign direct investments and portfolio inflows, including remittances from tens of thousands of Jordanians living abroad, mainly in the Gulf Arab region. The kingdom’s exports reached 5.645 billion dinars in 2011, up 13.3 percent from the previous year, boosted by improved prices of fertilizers and potash the country exports to long-term Asian suppliers. The export figure includes re-exports to neighboring countries, which also rose 13 percent. Among Jordan’s main hard currency earners are garments sold to US markets under a free trade deal which recovered last year after having been hit by a slump in US consumption. Figures showed exports to the US market rose 11.9 percent to 733 million dinars in 2011 against the previous year. Iraq, the kingdom’s second major export market after the US for a wide range of agricultural and industrial goods, witnessed a 15 percent rise in 2011 to 715 million dinars. But Jordan’s economic growth rate dropped to around 2.3 percent last year against an average annual rate of around 7 percent in the last decade as regional uncertainty hit remittances and investments while domestic demand slumped. Officials say the outlook so far in 2012 does not signal any pickup in economic activity, with continued regional unrest pushing many investors on to the sidelines. The International Monetary Fund forecast earlier this month that higher oil imports will push the fiscal deficit higher and generate real growth rate of 2.75 percent this year.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt upheaval hits jordan’s trade Arab Today, arab today egypt upheaval hits jordan’s trade

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 01:04 2017 Tuesday ,28 February

Nokia 3310 is back — and so is 'Snake'

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday