Jordan Times
Monday, May 29, 2006
Jordan-US trade
increases by 17.7 per cent to $1.9 billion in 2005 — AmCham-Jordan
Main exports were products of chemical and allied industries, textiles and
apparel, machinery and mechanical appliances, electrical equipment and vegetable
products
By Khaled Nuaimat
AMMAN — Total bilateral trade with the United States increased by 17.7 per cent
reaching $1.9 billion in 2005, according to a trade report issued by the
American Chamber of Commerce in Jordan (AmCham-Jordan)
Noting that the US was the Kingdom’s top export market in 2005, the
Jordan-United States Trade Report for 2005 showed that “trade with the world
increased from $6.5 billion in 2000 to $14.8 billion in 2005.”
“The trade liberalisation in the Kingdom, facilitated by the GATT/WTO’s
commitments and obligations, and bilateral or multilateral agreements, brought
about not only a considerable growth in exports and imports, but also a
diversification of trade towards merchandise either not traded or minimally
traded prior to the liberalisation,” the report said.
It added: “Jordan managed to do well in the strong multilateral trading system
and link its economy with the world trading community.”
At $1,267 million, the US accounted for 29.6 per cent of Jordan’s exports
followed by Iraq at $534 million, AmCham-Jordan indicated.
Other main importers of Jordanian products were: India, $345 million; Saudi
Arabia, $233 million; Syria, $159 million and United Arab Emirates $135 million.
Main exports were products of chemical and allied industries, textiles and
apparel, machinery and mechanical appliances, electrical equipment and vegetable
products.
Saudi Arabia was the top exporter to Jordan last year accounting for 23.7 per
cent or $2,478 million followed by China at $961.2 million,.
AmCham-Jordan listed Germany, US and South Korea as other main exporters to the
Kingdom with sales amounting to $837 million, $643.3 million and $372.5 million
respectively.
Minerals, machinery and mechanical appliances, electrical equipment, vehicles
and transport equipment, metals and articles of base metal were mentioned among
the main imports.
According to the report, “At the end of December 2005, the Kingdom ranked as the
US’ 70th largest trading partner.”
In 2005, Jordanian exports to the US rose by 15.9 per cent, much faster than the
10.3 per cent increase of exports to the world. When measured against Jordan’s
world exports, the ratio of exports (domestic plus re-export) to the US
increased from 3.8 per cent in 2000, to 28.2 per cent in 2004 and 29.6 per cent
in 2005.
Meanwhile, imports from the US increased by 16.7 per cent in 2005 compared to
2004, while imports from the world increased by 28 per cent. The ratio of
imports from the US to total imports dropped to 6.1 per cent in 2005 from 6.9
per cent in 2000.
The overall increase of imports was largely due to a surge in crude oil prices,
a rising domestic demand and the large import content of manufacturing exports.