Jordan’s energy bill balloons

The country’s energy bill went up by 20.7 per cent reaching JD4.7 billion at the end of  2012, compared with JD3.9 billion in 2011. The urge was attributed to an increase in imports of crude oil and diesel especially for generating electricity. According to the Department of Statistics (DoS), imports of those products accounted for 32 per cent of Jordan’s total imports which amounted to JD14.7 billion. Other statistics showed that the trade deficit widened by 17.2 per cent last year to JD9.1 billion at current prices compared with JD7.7 billion in deficit recorded in 2011. The DoS noted that the coverage ratio of  total exports to imports has declined by 4.2 percentage points to 38.1 per cent from 42.3 per cent. Imports rose by 9.3 per cent to JD14.7 billion last year compared with  JD13.4 billion in 2011. Topping the list of imports were petroleum products, cars/bikes and their spare parts, steel, grains, equipment and tools, and electrical appliances.   Exports amounted to JD4.7 billion, 1.2 per cent lower than the JD4.8 billion registered in 2011.   Topping the list of exports were garment and pharmaceutical products, crude potash, fertilisers and crude phosphate. Sales were higher to Greater Arab Free Trade Area (GAFTA) countries, including Saudi Arabia, besides the United States. Sales to non-Arab Asian countries, including India, and European Union countries, including Italy, were lower. Purchases were also highest from GAFTA countries, especially Saudi Arabia from which most crude oil is imported, besides the United States and non-Arab Asian countries, including China. Imports were lower from European Union countries, especially Italy Imports from countries of the Gulf Cooperation Council stood at JD4.1, or 27 per cent of the total imports in 2012, while exports to these countries amounted to JD999 million, or 17.9 per cent of the total exports last year. jordantimes