UAE-Jordan non-oil trade reaches $1.93bn – Report

Abu Dhabi - Mubasher: The bilateral non-oil trade between Jordan and the UAE was $ 1.93 billion in 2014, according to the report of Foreign Trade Policies Department at the UAE Ministry of Economy

The UAE's exports to Jordan are raw or semi-manufactured Gold, ornaments, jewelry, wires of copper and polyethylene. The country imports fresh or chilled vegetables, medicines, paving stones.

The Syrian crisis affected the Jordanian sector of trade and investment, the report stated.

Despite the current circumstances, the Jordanian economic growth averaged about 3.5% per annum during the period 2008-2014, with an increase in exports and imports of goods and services.

Jordan has a deficit in goods trade, with exports reaching $8.4 billion and imports amounting $22.7 billion, but it achieved a surplus in service trade.

Tourism is an important source to the economy and employment. Despite the fact that tourism revenues increased significantly during the years 2011-2014, tourism revenues decreased in the first quarter of 2015 due to Syria and Iraq crisis, according to the report.

Jordan is working to increase the network of regional trade agreements as it entered into agreements with Canada and Turkey during the years 2012 and 2011. In addition, the state entered into bilateral agreements also with "EFTA" in 2014, and  EU in 2013,  Singapore in 2014 and  the US in 2010.

Mubasher Contribution Time: 03-Feb-2016 08:10 (GMT)