Jordan’s import bill for crude oil, derivatives, and mineral oils saw a notable decline in January this year, according to data released by the Department of Statistics on Tuesday.

The figures revealed a decrease in the value of oil imports to the Kingdom, totaling JD256 million for January, compared to JD303 million for the same period last year. This represents a significant drop of 15.5%.

This decrease in the oil bill has had a positive impact on Jordan’s trade balance, with the overall value of imports declining by 19.7% in January compared to the previous year. This reduction contributed to a 33.7% decrease in the trade deficit for the country.

Fuel and mineral oils were the primary imports for the period, with a total value of JD83 million. Crude oil, often termed “petroleum,” followed closely behind at JD81 million. Additionally, the Kingdom imported gasoline worth around JD39 million, and diesel valued at approximately JD48 million. Lubricants and gas contributed smaller amounts to the import bill.

Source: Jordan News Agency