Bloomberg News

Jordan Should Promote Exports to Ease Trade Gap, Bank Audi Says

March 29, 2012

Jordan should promote export industries and manufacture goods domestically to substitute for imports in order to reduce a trade deficit that widened to 41 percent of gross domestic product in 2011, Banque Audi sal- Audi Saradar Group said.

The gap widened by 20 percent to $11.6 billion in 2011, according to a report by the Beirut-based bank published today. It was 36 percent of GDP in 2010, it said.

Jordan, one of the smallest economies in the Middle East, relies on foreign investment and grants to support its budget and current-account deficits. The government has increased public salaries and subsidies since pro-reform protests broke out last year as part of the regional turmoil.

To contact the reporter on this story: Mohammad Tayseer in Amman, Jordan, through the Dubai newsroom at mtayseer@bloomberg.net

To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net


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