Jordan’s Trade Surplus with US Hits JD814 Mln in 2023

Amman: Jordan's economic ties with the United States demonstrated resilience in 2023, with the trade balance registering a surplus of JD814 million, according to recent data released by the Department of Statistics. Figures revealed that the volume of trade between the two countries amounted to JD3.150 billion in 2023, marking a slight increase from the JD3 billion recorded in 2022. Jordan's exports to the American market experienced a modest growth of 1.4 percent, totaling approximately JD1.982 billion in 2023 compared to JD1.954 billion in 2022. Conversely, imports from the US surged by 9.7 percent, reaching about JD1.168 billion, up from JD1.065 billion in 2022. Key sectors driving Jordanian exports to the US include clothing, jewelry, fertilizers, pharmaceuticals, IT services, foodstuffs, livestock products, and engineering industries. Meanwhile, imports from the US encompass a diverse range of commodities such as metal products, transportation equipment, machinery, electrical appliances, grains, che mical products, medical devices, food products, wood pulp, animal products, furniture, iron, used clothing, and vegetable oils and fats. The bilateral trade relationship between Jordan and the US, fortified by the free trade agreement signed in October 2000 and fully enacted in January 2010, has played a pivotal role in fostering economic growth. Since its implementation, the agreement has substantially boosted bilateral trade exchange, witnessing an approximate eightfold (800%) increase. Source: Jordan News Agency