Trade between Saudi Arabia and Jordan has witnessed a remarkable 29% growth over the past six years totalling 29.7 billion dollar from 2018 to 2024 as reported by the Amman Chamber of Commerce. This growth reflects the strengthening economic ties between the two nations, with key sectors like pharmaceuticals, agriculture and energy playing a vital role.

Steady Growth in Trade Volumes

In 2018 the trade volume between Saudi Arabia and Jordan was valued at 2.89 billion Jordanian dinars (4.07 billion dollar). By the first 11 months of 2024 this figure rose to 3.74 billion dinars highlighting a steady upward trajectory despite global economic challenges.

Import and Export Trends

- 2018: Jordan’s imports from Saudi Arabia stood at 2.27 billion dinars while exports amounted to 503.7 million dinars.

- 2019: Imports slightly dipped to 2.27 billion dinars but exports increased to 548.9 million dinars.

- 2020: The global pandemic caused imports to drop to 1.52 billion dinars yet exports remained stable at 576.2 million dinars.

- 2021: A recovery year with imports rising to 2.28 billion dinars and exports climbing to 733.4 million dinars.

- 2022: Trade peaked with imports hitting 2.93 billion dinars and exports reaching 840.3 million dinars.

- 2023: Imports slightly fell to 2.58 billion dinars while exports rose to 983.7 million dinars.

- 2024: By November imports stood at 2.7 billion dinars with exports hitting a record 1.04 billion dinars - the highest in seven years.

Key Products Traded

Saudi Arabia exports mineral products including petroleum oils along with chemicals and food items such as sugar. Meanwhile Jordan's main exports to Saudi Arabia include,

- Pharmaceutical products

- Live animals (especially sheep)

- Fresh and processed fruits and vegetables

- Iron-based goods

Untapped Potential for Growth

According to the International Trade Centre's Export Potential Map Jordan has an untapped export potential of 43% to Saudi Arabia. Notably the top areas for growth include,

- Live sheep: 206 million dollar export gap.

- Bromides and bromine oxides: 39 million dollar.

- Antibiotic pharmaceuticals: 8 million dollar.

Read More: Saudi Arabia’s Vision 2030 Fuels Capital Market Growth Across the Gulf.

Upcoming Business Forums to Strengthen Ties

To bolster bilateral trade the Jordan-Saudi Business Forum is set for February 24th 2024 organised by the Amman Chamber of Commerce in collaboration with the Federation of Saudi Chambers and the Saudi Export Development Authority. The event will focus on forming new partnerships and exploring investment opportunities across key sectors.

On the same day the Saudi-Jordanian Business Council will convene, with leadership from Khalil Tawfiq (Amman Chamber of Commerce) and Hamdan Al-Samreen (Al-Jouf Chamber of Commerce) along with participation from government investment ministries.

The 29% rise in Saudi-Jordan trade over the past six years underscores the deepening economic ties between the two nations. With untapped export potential and upcoming business collaborations both countries are poised for further trade expansion reinforcing their positions in the regional economy.