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Jordan’s imports from Russia, Ukraine decreased in first 4 months of 2022

Jordan russia ukraine
(Photo: Envato Elements)
AMMAN — The volume of Jordanian imports from Russia decreased in the first four months of this year by 61 percent, compared to the same period last year, according to the monthly report of the Department of Statistics.اضافة اعلان

The value of imports from Russia during this period amounted to JD33.709 million, compared to JD86.752 million last year.

The report indicated that the volume of imports from Russia in April increased by 62 percent, compared to April last year, reaching JD9.829 million, compared to JD3.753 million last year.

Jordan imports barley, chickpeas, iron, copper, sugar products, and sunflower oil, from Russia according to the 2020 data. The Kingdom’s most important exports to Russia are fertilizers, dates, and clothing.

On the other hand, the volume of imports from Ukraine in the first four months of 2022 decreased by 42 percent compared to the same period last year, amounting to JD26.778 million; they were worth JD46.337 million in 2021.

The volume of imports from Ukraine decreased by 80 percent in April, compared to the same month last year, reaching JD2.032 million; they were JD10.010 million in April last year.

Exports to Ukraine, the report indicated, increased by 59 percent, in the first four months of this year, to reach JD845,000, compared to  JD532,000 in the first four months of 2021.

Economic expert Mazen Irsheid said that there are other countries Jordan can import from but at a higher cost than importing from Russia and Ukraine, “because Jordan will have to buy them at inflated international prices, and this will lead to a high import bill for these goods”.

Eventually, Irsheid said, Jordan will have to import from several other countries, which may pose challenges as many froze their exports to provide for their citizens at lower prices.

Jordan imports about 80 percent of its food needs at very high international prices, and this will lead to a worsening trade deficit, Irsheid said.

Economic expert Yousef Al-Damra said that Jordan’s volume of trade with Russia and Ukraine is not “great”, compared to that of a country like Egypt, and “therefore the degree of economic exposure is not high, and this is a positive thing in light of the current conditions and the repercussions of the Ukrainian-Russian war”.

He added that Jordan “will turn to alternative markets in light of low volume of trade” with these two countries.

Economic expert Zayyan Zawaneh said that Jordan’s volume of trade with Russia and Ukraine is relatively small, as the figures show, stressing that “global markets are available as an alternative, but the impact of the high import cost for Jordan’s needs remains the biggest challenge, whether from Russia, Ukraine or others, due to the widening trade deficit which was shown by the figures of the first four months of the year, which rose from JD2.5 billion to JD3 billion, and thus the volume of foreign currency needed to cover imports will increase, as shown by the figures for Jordan oil bill in the first four months of this year, which rose by 70 percent”.

Zawaneh said that Jordan spends about JD3 billion worth of imports annually, and its annual bill will rise by up to JD2 billion, which puts pressure on foreign reserves.

He expressed hope that the exports of mineral products, tourism returns and remittances will fill the gap, “which has improved remarkably.”


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