Jordan’s Oil Imports Decrease by 16.9% in 2023

Jordan's oil imports, including crude oil, derivatives, and mineral oils, experienced a notable decline of 16.9% in the year 2023. The decrease in the Kingdom's oil bill in 2023 amounted to JD2.956 billion, compared to JD3.556 billion in 2022. Foreign trade data, released by the Department of Statistics and monitored by Petra, revealed that the reduction in the oil bill in 2023 accounted for a value decrease of approximately JD600 million compared to 2022. This reduction in the oil bill played a crucial role in lowering the value of Jordan's imports by 6.0% and positively impacting the country's trade deficit, which decreased by 10%. The statistical data indicated that fuel and mineral oils constituted the majority of petroleum derivative imports, totaling JD962 million in the past year, compared to JD985 million in 2022. Crude oil imports amounted to around JD741 million in 2023, a decrease from JD962 million in 2022. Furthermore, the Kingdom's imports of diesel (solar) reached approximately JD588 mill ion in 2023, compared to JD 787 million in 2022. Imports of gasoline accounted for JD618 million, down from JD771 million in 2022. Kerosene imports were approximately JD9 million in 2023, compared to JD13 million, while lubricant imports totaled about JD38 million in 2023, slightly higher than JD37 million recorded in 2022. Source: Jordan News Agency