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State of trade-economic and investment relations between Ukraine and Jordan
20 August 2012 22:38


The Agreement between the Government of Ukraine and the Government of the Hashemite Kingdom of Jordan on Trade and Economic Cooperation was signed on 23.04.2002 and entered into force on 05.05.2003. Since that time Jordan has a great interest for Ukraine as a market of goods, services and technology, transportation, transit, commercial, financial and tourist center in the Middle East. Due to its traditional role of regional trade and economic agent, Kingdom can be regarded as a kind of "gateway" to promote Ukrainian products and technologies to markets in other Arab countries.

Ukraine attracts Jordan mainly by its industrial sphere, scientific and technical potential, wide transit opportunities, a large consumer market.

Convenience of the geographical location of Ukraine and Jordan, maritime and air transport, the complementarily of national economies create the objective conditions for the successful development of mutually beneficial economic and trade cooperation between two countries, which occupies a key place in the whole complex of Ukrainian -Jordanian relations.

Since the establishment of diplomatic relations between Ukraine and Jordan, the highest level of bilateral foreign trade turnover in goods and services amounted to 1 billion US dollars in 2008. From 2009 till 2011, trade turnover in goods and services between countries ranged from 473 to 540 million US dollars. Starting from 2012 and up to 2015, trade and economic relations are characterized by a reduction in volumes of trade turnover in goods and services. Reducing turnover is associated with complex financial and economic situation in the Kingdom due to the high expenses of state budget of Jordan for hosting Syrian refugees, closing Syrian border, through which Jordan exports its products and reducing large-scale infrastructure constructions, as well as annexation of the Crimea by Russia and Russian aggression in some districts of Donetsk and Lugansk regions. However, since 2016 due to the active measures of the leadership of Jordan and Ukraine and Ukrainian Embassy in Amman, foreign trade turnover in goods and services between the two countries gradually increased.

Dynamics of trade in goods and services between Ukraine and Jordan

Year

Turnover per year, mln. USD

Export

Import

Trade balance

2015

154,70

147,19

7,51

+ 139,68

2016

166,68

156,33

10,35

+ 145,98

2017

174,07

163,68

10,39

+153,29

2018

182,582

166,102

16,48

+149,622

2019

196,388

174,174

22,214

+151,96

2020

192,438

185, 357

7, 081

+178,276

2021

221,597

211,622

9,975

+201,647

2022

177,559

(the data is available only regarding the bilateral trade in goods)

67,698


109,861

-42,163

 

Bilateral trade in goods:

In 2022, the trade turnover of goods between Ukraine and Jordan amounted to 177,559 mln. USD. The Ukrainian exports of goods to Jordan amounted to 67,698  mln. USD. The Jordanian exports to Ukraine amounted to 109,861 mln. USD.

The main Ukrainian export products to Jordan in 2022 were sunflower oil (44%), flat rolled metal (15,6%), soybean oil (6,2%), cattle (6%), margarine (5,36%), soybean oil cake (3%), confectionary without cacao (2,7%), barley (2,2%), chocolate (2%), poultry (1,52%).

The Jordanian exports to Ukraine in 2022 consisted mainly of other goods (78,5%), liquid crystal devices (11,2%), N,P,K fertilizers (4,19%), products made of ferrous metals (3,3%), nitrites and nitrates (1,13%).

Bilateral trade in services:

The data on the Ukrainian and Jordanian statics regarding bilateral trade in services in 2022 is not available.

In 2021, the trade turnover of services between Ukraine and Jordan amounted to 5,694 mln. USD. The Ukrainian exports of services to Jordan in 2021 amounted to 3,788 mln. USD. The Jordanian exports of services to Ukraine in 2021 amounted to 2,016 mln. USD.

The main Ukrainian export services to Jordan in 2021 were services related to travel (63,93%), business services (29,1%), transportation services (5,41%), IT services (1,3%).

The main Jordanian export services to Ukraine in 2021 were business services (54,9%), public and governmental services (28%), services related to travel (12,9%).

Investment cooperation:

The data on the Ukrainian and Jordanian statics regarding bilateral investments in 2022 is not available.

According to the National Bank of Ukraine as of December 31, 2021, direct investments from Jordan to Ukraine amounted to 17.1 mln. USD.

As of December 31, 2021, Ukraine hadn’t invested to the economy of Jordan.



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