Jordan flag Jordan: Economic and Political Overview

Foreign trade figures of Jordan

Foreign Trade in Figures

Jordan is very open to international trade, so much so that there is a dependence on foreign capital; however, its relative share of GDP has diminished considerably after 2014 and is estimated at 86% (World Bank, latest data available). Exports are spearheaded by the textile industry, followed by the chemical and mining sectors (fertiliser, medicine, potash and phosphate). Jordan mainly imports petroleum oils, gold, motor cars, and fabrics (data Comtrade).

The United States was by far the main destination for Jordanian exports (20% of all exports in 2022), followed by India (14.6%), Saudi Arabia (9.9%), Iraq (7.5%), Indonesia (2.7%), and the United Arab Emirates (2.7%). On the other hand, China (15.3%), Saudi Arabia (14.9%), United Arab Emirates (7.8%), United States (5.5%), India (5.1%) were the main suppliers in 2022 (data Comtrade). Jordan is a member of the WTO and signed a free-trade agreement with the U.S in 2001, allowing the removal of customs duties on the majority of goods and services since 2010 when it was fully implemented. Jordan has also signed an Agreement of Association with the EU. In addition to the United States, Jordan is also party to bilateral trade agreements with Canada and Singapore and is a signatory to several regional trade agreements including the European Free Trade Association (Norway, Switzerland, Liechtenstein), Greater Arab Free Trade Agreement (GAFTA), and Aghadir Agreement (Egypt, Morocco, Tunisia) which is connected to the Association Agreement (EU).

Jordan's trade balance is structurally in deficit, mainly because of the country's reliance on hydrocarbon imports. The exports of goods amounted to USD 12.3 billion and the imports to USD 27.2 billion in 2022, up by 32.3% and 26.6% year-on-year, respectively (data WTO). However, the country is a net service exporter (USD 7.9 billion in exports against USD 5.7 billion in imports in 2022). According to the Jordan Department of Statistics, the value of exports in the first eleven months of 2023 reached JOD 8,221 million (of which 615 million of re-exports), whereas imports stood at JOD 16,952 million.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 19,17017,23321,54227,36425,470
Exports of Goods (million USD) 8,3177,9439,35812,78012,763
Imports of Services (million USD) 4,9113,0954,1545,6795,971
Exports of Services (million USD) 7,8532,5014,5127,95510,428

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 88.085.8n/an/an/a
Trade Balance (million USD) -10,302-8,735-7,386-9,810-11,895
Trade Balance (Including Service) (million USD) -7,823-5,793-7,980-9,452-9,619
Imports of Goods and Services (in % of GDP) 52.849.2n/an/an/a
Exports of Goods and Services (in % of GDP) 35.136.7n/an/an/a

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 4.80.64.63.63.6
Volume of imports of goods and services (Annual % change) 3.41.82.73.03.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
The Jordanian economy is very open. The country is part of the Greater Arab Free Trade Area(GAFTA), a pact of the Arab League entered into force in January 2005 which aims to form an Arabic free trade area. It has also signed bilateral free trade agreements with most of the countries of the Arab League. Jordan has also signed an agreement with the European Free Trade Association (EFTA), the United States and Singapore. Jordan has signed the Euro-Mediterranean Association Agreement which provides for a free trade area between the European Union and the other signatory countries. Finally, Jordan is a member of the Agadir agreement which provides for a system of free trade between Jordan, Tunisia and Egypt. Jordan also signed a Free Trade Agreement with Canada.
 

Main Partner Countries

Main Customers
(% of Exports)
2022
United States 22.3%
India 14.1%
Saudi Arabia 9.5%
Iraq 7.3%
Indonesia 2.7%
See More Countries 44.1%
Main Suppliers
(% of Imports)
2022
China 15.2%
Saudi Arabia 15.1%
United Arab Emirates 7.8%
United States 5.5%
India 5.1%
See More Countries 51.3%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

12.8 bn USD of products exported in 2022
Special garments for professional, sporting or...Special garments for professional, sporting or other purposes, n.e.s., knitted or crocheted 16.5%
Mineral or chemical potassic fertilisers (excl....Mineral or chemical potassic fertilisers (excl. those in tablets or similar forms, or in packages with a gross weight of <= 10 kg) 11.6%
Natural calcium phosphates and natural aluminium...Natural calcium phosphates and natural aluminium calcium phosphates, natural and phosphatic chalk 8.4%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old) 5.3%
Diphosphorus pentaoxide; phosphoric acid;...Diphosphorus pentaoxide; phosphoric acid; polyphosphoric acids, whether or not chemically defined 5.2%
See More Products 52.9%
27.4 bn USD of products imported in 2022
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 8.3%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 7.6%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 5.0%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 4.1%
Fabrics, knitted or crocheted, of a width of > 30...Fabrics, knitted or crocheted, of a width of > 30 cm (excl. warp knit fabrics "incl. those made on galloon knitting machines", those containing by weight >= 5% of elastomeric yarn or rubber thread, and pile fabrics, incl. "long pile", looped pile fabrics, labels, badges and similar articles, and knitted or crocheted fabrics, impregnated, coated, covered or laminated) 2.4%
See More Products 72.6%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

8.0 bn USD of services exported in 2022
72.93%
19.21%
1.94%
1.54%
1.48%
1.37%
0.86%
0.32%
0.20%
0.16%
5.7 bn USD of services imported in 2022
56.75%
25.85%
11.13%
2.03%
1.46%
1.06%
0.62%
0.58%
0.41%
0.10%

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: April 2024

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