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Jordan Releases Trade Report
by Tareq Ayyoub
AMMAN, Feb 8 (IslamOnline) - Jordan exports to Israel increased by 35.6% in the first ten months of 2000 compared to the same period the previous year, the monthly report of the Central Bank of Jordan (CBJ) said.
The report said that Jordanian exports to Israel amounted to $64.8 million in 2000 compared to $41.7 million in 1999.
The CBJ's report did not provide reasons behind the increase in the export, but most of the exported goods are products manufactured in the Qualified Industrial Zone in northern Jordan, and pass through Israeli ports en route to the United States.
The products are exempted from custom duties upon arrival in the U.S.
The CBJ report also said that Iraq remained Jordan's largest trade partner with a trading volume of $688.1 million. In 2000, Jordan exported goods worth $121 million, compared to $567.1 million imports, mostly oil and oil derivatives.
Last year, the two countries agreed to increase the annual trade protocol to $450 million, up from $300 million, and are currently negotiating the establishment of a free trade zone.
Officials from Jordan and Iraq hinted that signing such an agreement could occur during the upcoming Arab Summit, scheduled to be held in Amman on March 26th.
The also report indicated that Saudi Arabia ranked second among Arab states with which Jordan conducts trade, with a trading volume of $234.7 million.
Jordan's total exports in the first ten months of 2000 amounted $1.289 billion, compared to $1.203 billion million in the same period in 1999.
Jordan's exports to Arab states amounted to $516.8, followed by exports to Asia which amounted to $455.7 million.
Jordan total imports in the first ten months of 2000 rose to $3.5 billion compared to $3 billion in the same period the previous year. Almost half of the goods imported in 2000 came from European countries, amounting to $1.228 billion in value. Among them, Germany ranked first with $430 million.
The report indicated that India is the biggest importer of Jordan-made products in Asia, with imports totaling $219 million
Imports from Arab countries amounted to $909.1 million.
Jordan's imports from Asia amounted to $808.7 million, where Japan won one fifth of this figure, or $154.2 million, the report added.
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