Amman, Jordan–The volume of trade exchange between Jordan and the US shot up in January and February 2023 to $745 million compared to $561 million for the same period in 2022.
Foreign trade data issued by the Department of Statistics (DoS) showed that the value of Jordanian exports to the US increased in January and February 2023 by $392 million, a 28.2 percent increase, compared to about $306 million for the corresponding period in 2022.
The value of Jordan’s imports from the US increased during the first two months of 2023 to $353 million, a 38.2 per cent increase, compared to $255 million for the corresponding period in 2022.
According to data, during the first two months of 2023, Jordan’s trade balance with the United States achieved a surplus of $39.49 million.
The volume of trade exchange between the two countries last year amounted to about 2.75 billion dinars, according to foreign trade data issued by the Department of Statistics in Jordan. Moreover, the value of exports from Jordan to the US has surged over the past year, to about 1.685 billion dinars.
This figure reflects a 6.2 percent increase when compared to about 1.586 billion dinars back in 2021.
Similarly, the value of Jordan’s imports from the US also increased in 2022 by 7.3 percent, to about 1.060 billion dinars, compared to 988 million dinars in 2021.
The free trade agreement between Jordan and the US entered into full force in January 2010, and provides for exemption from customs duties for Jordanian exports in an attempt to raise trade exchange between the two countries.
Last month, King Abdullah of Jordan and the country’s foreign minister, Ayman Safadi greeted a delegation from Business Executives for National Security, the Jordan News Agency reported.
BENS is an American nonprofit, nonpartisan network of business and industry executives that was founded in 1982, to help address security challenges in the US through business practices.
During the meeting at Al-Husseiniya Palace in Amman, King Abdullah praised the strong, strategic relationship between Jordan and the US, expressing his desire to further strengthen it in all sectors.