The trade balance between the two nations over the past ten years has exceeded QAR 11.5 billion, according to the Qatar Planning and Statistics Authority.
The volume of trade between Qatar and Jordan saw a 28% increase in 2022 in comparison to the year before.
Around 800 million riyals were exchanged in trade between Jordan and Qatar in 2022, up from 624 million in 2021.
These figures show that the bilateral trade between the two nations differs by about 176 million riyals, or 28.2, in 2022 compared to 2021.
The significant increase in trade between Jordan and Qatar over the past year was attributed by traders and importers in Qatar to a faster pace of imports into Qatar from Jordan, particularly during the World Cup period.
The tournament saw increased demand for goods and products, particularly food items, said Qatari traders and importers in a statement to the Jordan News Agency, Petra.
Close business ties existed between Jordan and Qatar due to the latter’s dependence on Jordan for a sizable portion of its needs in terms of commodities and foodstuffs, particularly vegetables and fruits, as well as numerous other consumer goods, said Qatari business man Fawaz Al-Fardan to Petra.
The 2022 World Cup alone has significantly increased consumption rates, according to Hamad Al-Suwaidi, one of Qatar’s major importers, who stated that the pace of the flow of Jordanian food commodities to the Qatari market was going faster than ever during the year 2022.
He added that local merchants increased the volume of foodstuffs, especially vegetables and fruits import, as a result.
Fresh and processed food and products, as well as fruits, vegetables, meat, all varieties of dates, cheese, fresh milk, rice, juices, nuts, oils, coffee, and more are all exported from Jordan to Qatar.
The products that Qatar exports to Jordan’s market include plastic bags, motor oils, slovenic acid, lutriene, aluminium moulds, paraffin, polyethylene, iron rods, chemical fertilisers of various kinds and uses, and pharmaceuticals.
Between the years of 2012 and 2017, Qatar’s exports to Jordan totaled around QAR 5.35 billion, compared to 2.44 billion for imports. This difference in volume between exports and imports was worth QAR 2.91 billion, which is a trade surplus in Qatar’s favour.
From 2018 to the end of 2021, the trade surplus shifted by one billion riyals in favour of Jordan because Qatar’s exports during that time period were valued at roughly QAR 1.2 billion, compared to QAR 2.2 billion in imports.
These figures show that over the last ten years, Jordan has imported goods worth roughly QAR 623 million from Qatar.
Meanwhile, more than 100 Jordanian businesses engaged in a variety of economic sectors have received licences from the Qatar Financial Center (QFC) earlier this month.
The majority of Jordanian businesses with QFC licences are involved in the digital and financial technology industries like banking, finance, fund management, savings and investment, information technology, hospitality, public services, trade, and imports and exports.