Jordan’s export figures to Saudi Arabia have seen a notable rise in the year 2023, ascending to a value of JD984 million, which marks a 7.1 percent increase from the JD840 million recorded in 2022. This boost has placed the nation at the forefront of Jordanian exports within the Greater Arab Free Trade Area.
Conversely, the kingdom’s imports from Saudi Arabia have experienced a downturn, dropping by 11.6 percent to a total of JD2.591 billion in 2023, down from JD2.932 billion in the prior year, as reported by Al Mamlaka TV.
Statistical data from the Department of Statistics reveals that the trade volume between the two nations amounted to approximately JD3.575 billion in 2023, showing a slight decrease from JD3.772 billion in 2022. Notably, Jordan’s trade deficit with Saudi Arabia witnessed a reduction in 2023, dwindling to about JD1.607 billion from JD2.092 billion in 2022.
The Chairman of the Jordan Chamber of Commerce, Khalil Hajj Tawfiq, highlighted that Jordan holds substantial prospects in Saudi Arabia, engaging in diverse economic sectors such as information technology, construction, and services.
Tawfiq emphasized that these opportunities are part of the economic boom occurring in Riyadh and other Saudi cities, including the ambitious NEOM city project.
He disclosed plans for an official visit to Tabuk after Ramadan to foster cooperation between Aqaba and NEOM cities. This visit will coincide with the Arab Businessmen and Investors Conference in Riyadh, anticipated to draw substantial economic delegations from both countries. Additionally, he mentioned the upcoming signing of a twining agreement between major chambers of commerce like the Riyadh Chamber to share expertise and investigate joint investment avenues, underscoring Saudi Arabia’s position as Jordan’s top trade partner in 2022.
Tawfiq also gave insights into the imminent announcement of the completed formation of the Saudi-Jordanian Business Council, which will incorporate representatives from various economic sectors of both nations.
Notable Jordanian exports to Saudi Arabia include items such as meat, poultry eggs, and roasted coffee. In contrast, Saudi imports primarily consist of petroleum products and derivatives, alongside diverse milk products and dried dates.