The Kingdom’s commercial arteries pulsed stronger in 2022, displaying a remarkable rebound from the previous year’s economic sluggishness, according to an authoritative report by the Amman Chamber of Commerce (ACC). The ACC’s report, furnished by its Studies and Research Department, encapsulates the rejuvenation in Jordan’s trade sector through comprehensive statistics. The country’s exports swelled by an impressive 33.8 percent in 2022, backed by a healthy growth of 17 percent in re-exports and a 26.7 percent surge in imports. The Kingdom’s total foreign trade portfolio, encapsulating exports, and imports soared from JD21.939 billion in 2021 to JD28.166 billion in 2022, reflecting a robust growth rate of 28.4 percent. The report depicts a diverse geographical spread of Jordan’s export boost, with a staggering 164.3 percent increase to the People’s Republic of China, a 100.6 percent surge to Indonesia, and substantial enhancements to Brazil (61.6 percent), Palestine (50.8 percent), Iraq (49.3 percent), and India (40.4 percent). The report further highlights that the United States sat atop the ladder of Jordan’s export destinations in 2022, absorbing 20.9 percent of Jordan’s total exports, valued at JD1.685 billion. India followed closely behind, consuming 15.7 percent of Jordan’s total exports valued at JD1.273 billion. Saudi Arabia, with imports valued at JD840 million, clinched the third spot, making up 10.4 percent of Jordan’s total exports in 2022. In terms of import growth, the report detailed striking increases from India (136.2 percent), Switzerland (70.1 percent), the United Arab Emirates (48.2 percent), Romania (45.5 percent), and China (32.6 percent). China led the pack in terms of import value, contributing 15.3 percent of Jordan’s total imports, valued at JD2.958 billion. The Kingdom of Saudi Arabia followed closely, contributing 14.9 percent of the total, valued at JD2.89 billion. The UAE, the United States, and India also featured prominently in the Kingdom’s import list, accounting for 7.8 percent, 5.5 percent, and 5.2 percent respectively. Commodity-wise, the year 2022 marked a noteworthy leap in the export of Jordan’s crude potash (105.6 percent), crude phosphate (101.5 percent), chemical products (44 percent), fertilizers (25.2 percent), clothing and related accessories (21.6 percent), and pharmaceuticals (5.7 percent). The report also shed light on a marked increase in imports of jewelry (71.4 percent), grains (50.3 percent), crude oil (26.8 percent), machinery and tools (11.7 percent), electrical appliances (8.7 percent), and vehicles and bicycles (6.3 percent) in 2022. Non-Arab Asian nations emerged as Jordan’s most significant trade partners in 2022, accounting for 33.5 percent of trade, followed by the Greater Arab Free Trade Area (31 percent), European Union (12.3 percent), and the North American Free Trade Agreement countries (10.8 percent).

Source: Jordan News Agency