Amman, Jordan–Jordan’s import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according to data released by the Department of Statistics on Tuesday.
The figures revealed a decrease in the value of oil imports to the Kingdom, totaling $361 million for January, compared to $427.36 million for the same period last year. This represents a significant drop of 15.5%.
This decrease in the oil bill has had a positive impact on Jordan’s trade balance, with the overall value of imports declining by 19.7% in January compared to the previous year. This reduction contributed to a 33.7% decrease in the trade deficit for the country.
Fuel and mineral oils were the primary imports for the period, with a total value of $117 million. Crude oil, often termed “petroleum,” followed closely behind at $114.24 million. Additionally, the Kingdom imported gasoline worth around $55 million, and diesel valued at approximately $67.70 million. Lubricants and gas contributed smaller amounts to the import bill.
