RIYADH: Trade between Jordan and Saudi Arabia has increased, reaching $29.7 billion from 2018 to 2024, according to the Amman Chamber of Commerce.
In 2018, the total trade volume stood at 2.89 billion Jordanian dinars ($4.07 billion). By the first 11 months of 2024, trade grew to 3.74 billion dinars.
Jordan’s imports have fluctuated over the years, while exports nearly doubled, rising from 503.7 million dinars in 2018 to a record 1.04 billion dinars in 2024. In 2019, imports totaled 2.27 billion dinars, with exports climbing to 548.9 million dinars.
The global pandemic caused a dip in 2020, with imports dropping to 1.52 billion dinars, while exports remained relatively stable at 576.2 million dinars.
The rebound began in 2021, with imports rising to 2.28 billion dinars and exports growing to 733.4 million dinars.
In 2022, trade reached its peak, with imports hitting 2.93 billion dinars and exports increasing to 840.3 million dinars. In 2023, imports fell slightly to 2.58 billion dinars, but exports grew to 983.7 million dinars.
By the end of November 2024, imports from Saudi Arabia stood at 2.7 billion dinars, while exports hit the highest level in seven years at 1.04 billion dinars.
Between 2018 and 2024, Jordan’s cumulative trade with Saudi Arabia totaled 21.1 billion dinars, comprising 17.6 billion dinars in imports and 5.5 billion dinars in exports.
Saudi Arabia primarily exports mineral products, such as petroleum oils, as well as chemicals and food products, including sugar. Jordan’s key exports include pharmaceutical products, live animals (notably sheep), fresh and processed fruits and vegetables, and iron-based goods.
Saudi Arabia is a crucial energy supplier to Jordan, which relies on imports to meet its domestic needs. In turn, Saudi Arabia imports essential goods from Jordan, including pharmaceuticals, agricultural products, and live animals.
According to the International Trade Centre’s Export Potential Map, Jordan has an untapped export potential to Saudi Arabia of 43 percent, with live sheep leading the way, representing a $206 million export gap.
Other potential exports include bromides and bromine oxides ($39 million) and antibiotic pharmaceuticals ($8 million), signaling opportunities for Jordan to expand its pharmaceutical exports to Saudi Arabia.
In an effort to strengthen bilateral ties, the Amman Chamber of Commerce will host the Jordan-Saudi Business Forum on Feb. 24 in collaboration with the Federation of Saudi Chambers and the Saudi Export Development Authority. The forum aims to foster new business partnerships and explore opportunities across various sectors.
Additionally, the Saudi-Jordanian Business Council will meet on the same day to further enhance trade and investment relations.
The Jordanian side of the council is led by Khalil Tawfiq, president of the Amman Chamber of Commerce, while the Saudi side is chaired by Hamdan Al-Samreen, president of the Al-Jouf Chamber of Commerce. Government investment ministries will also participate in the discussions.
