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US investments in Jordan amount to $2 billion

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(Photo: Pixabay)
AMMAN — The US Embassy in Jordan’s media office revealed that the amount of US investments in Jordan is currently estimated at about $2 billion, according to Al-Ghad News.اضافة اعلان

In response to Al-Ghad’s inquiries, the office explained that these investments are spread over different sectors, including the energy, industry, and logistic services sectors.

The presence of large American information technology (IT) companies such as Microsoft, Amazon Web services, Cisco, HP, AutoDesk, and others, led to the consolidation of Jordan’s position as a regional center for IT. These companies created thousands of high-value jobs that contributed to the talent pool locally and regionally, according to the media office.

Regarding the Free Trade Agreement between the two countries, which has been in practice since 2002, the office confirmed that this agreement has achieved great success in the past 20 years and noted that the trade between the two countries grew more than 800 percent.

The office added that Jordan’s export to the US is currently 26 times higher than it was before the trade agreement.

However, the office indicated that the agreement is still not fully understood by many, explaining that there is a misperception that it can only be used for large companies, but in fact, it can be helpful for small companies as well, noting that there are many exporters in the Zarqa region that export foodstuffs, cosmetics, building materials, and industrial products and mainly depends on their sales to the US.

Jordan was the first Arab country to sign a free trade agreement with the US. The agreement contributed to maximizing the private sector's benefit from the export opportunities of the American market, as Jordan's exports to the US amounted to the year 2000 to about $63 million, but it began to rise significantly in the years following the agreement. 

Jordanian imports from the US amounted to $454 million, with a trade balance deficit in favor of the US of $391 million prior to 2002. However, after the agreement, the national economy has been able to achieve a trade balance surplus. 

The Kingdom's exports to the US in 2014 were approximately JD848 million and JD1,220 billion in 2020.

Jordanian exports to the US market recorded their best figures in 2019 of JD1,382 billion, compared with JD1,109 billion in imports, and in the first quarter of 2021, they reached JD344 million in exports, compared with JD245 million in imports.

Jordanian exports to the US market are concentrated in textile materials, medicines, metal products, air conditioning machines, ornaments, jewelry, food products, and transport equipment. In contrast, the Kingdom's imports from the US are concentrated in mineral products, transportation equipment, machinery, electrical appliances, cereals, chemical products, medical devices, and more.


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