Jordan-India trade achieves surplus of JD149m, promoting export opportunities
shahennews
During the first third of 2023, Jordan achieved a surplus of JD149 million in its trade with India, according to data from the Department of Statistics’ (DoS) foreign trade report. The trade volume between the two countries during this period was approximately JD1 billion.
Jordan’s national exports to India reached a total of JD575 million, securing the second position in terms of the overall value of Jordanian exports. Statistical data indicated a significant increase of 27.7% in the value of national exports to India by the end of April 2023, compared to JD450 million in the previous year.
Furthermore, the value of the Kingdom’s imports from India saw a notable rise of 57.7% in the first third of 2023, amounting to JD426 million compared to JD270 million in the previous year. Prominent Jordanian exports to India during this period included phosphates, potash, fertilizers, steel, copper, aluminum, lead, electrical machinery, as well as fruits and edible crops. On the other hand, the Kingdom primarily imported various goods from India, such as diesel oil, grains, meat, fish, coffee, tea, spices, flour products, sugar and derivatives, food preparations, salt, sulfur, dust, chemicals, essential oils, paperboard, ceramics, and more.
Fathi Jaghbir, President of the Jordan Chamber of Industry (JCI), confirmed the substantial growth in Jordan’s national exports to India over the past four years. He attributed this progress to the signing of six agreements between the Jordan Phosphate Mines Company and different Indian companies in 2018, which resulted in a total trade volume of approximately JD2.274 billion in 2022, compared to around JD890 million in 2018.
Jaghbir emphasized the focus on phosphates and potash, which accounted for more than half of Jordan’s exports to India. He stressed the importance of diversifying the range of exported products to expand national exports, taking into consideration their high quality, efficiency, and the capacity of the Indian market to accommodate additional Jordanian products. He also highlighted the untapped export opportunities worth over $850 million for Jordan in the Indian market across various industries, including fertilizers, diverse chemical industries, mineral resources, and precious metals, as indicated by the International Trade Center’s export potential map.
In addition, Jaghbir underscored the significance of utilizing existing agreements between Jordanian and Indian companies. He proposed expanding trade cooperation through regular visits to India at the private sector and business levels to overcome obstacles that hinder the access of Jordanian products to the Indian market.
He also expressed the JCI’s fully committed to developing the industrial sector, with a strong focus on industrial exports that make up over 95% of total national exports. This commitment involves exploring new markets that offer export opportunities for national products and addressing challenges that restrict access to these markets.
Jaghbir added, “The chamber aims to raise awareness among industrialists about new markets that local industries can enter, with the Indian market considered a priority due to its size and the export opportunities it presents for Jordanian products.” He emphasized the potential for cooperation in areas beyond trade, particularly in India’s advancements in information technology, innovation, and artificial intelligence, which Jordan can benefit from.
//Petra// RZ
