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Overall trade between Jordan and
the US totalled $1,709 million
for the first ten months of
2006, reflecting an increase of
9.5 per cent from $1,560 million
during the same period of 2005,
according to the 2006 Jordan
Economic and Trade Bulletin
released yesterday.
The bulletin, announced on
Tuesday by Azzam Shwiehat,
chairman of the American Chamber
of Commerce in Amman (AmCham),
said the qualified industrial
zones (QIZs) and the Jordan-US
Free Trade Agreement were the
main driving forces behind the
five-year surge in Jordanian
exports to the US.
Between 2001 and 2005 exports to
the US increased by 453 per cent
, or on average 91 per cent a
year, the bulletin indicated.
It said this trend continued
during the first ten months of
2006, albeit at a much slower
rate of 12.4 per cent.
The main exported products are
textiles and apparels, jewelry,
machinery and mechanical
appliances, electrical machinery
and equipment, plastics, and
pharmaceuticals.
The US is now Jordan’s second
largest trading partner after
Saudi Arabia, accounting for
over 33 per cent of exports.
Overall imports from the US over
the past five years also
increased by 90 per cent, or on
average 18 per cent a year.
During January-October 2006,
imports from the US increased by
3.4 per cent, according to the
bulletin.
Topping the list of US imports
were machinery and mechanical
appliances, vehicles, arms and
ammunition, cereals, aircraft
and parts, electrical machinery
and equipment and parts,
optical, measuring, precision
and medical and surgical
instruments and parts.
The publication, which Shwiehat
said seeks to provide AmCham-Jordan
members and businesses in
general with relevant and
up-to-date information,
indicated that total foreign
trade for the January-October
2006 period increased by 11.5
per cent, amounting to $13.7
billion, while total exports
reached $4.2 billion, an 18.4
per cent increase from 2005.
During the stated period,
Jordan’s trade deficit stood at
$4,719 million.
According to Shwiehat, the
bulletin will be distributed to
all members of the chamber,
concerned business agencies and
ministries. It will also be
posted on the chamber’s website.
In the region, the US has signed
FTA agreements with Bahrain,
Israel, Oman and Morocco, and is
currently holding talks with
Egypt.
Jordan Times
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