Home Middle East 2022 Qatar-Jordan Trade Boosted by World Cup

2022 Qatar-Jordan Trade Boosted by World Cup

According to the Qatar Planning and Statistics Authority, The trade balance between Jordan and Qatar over the past ten years has exceeded QAR 11.5 billion. 

The trade volume between Qatar and Jordan saw an increase of 28 percent in 2022 as compared to the year before. An exchange of around 800 million riyals was done between Qatar and Jordan in 2022, compared to only 624 million in 2021. The figures portray that the bilateral trade between the two countries differs by about 176 million riyals, or 28.3 percent, in 2022 as compared to 2021.

The significant increase in the trade relations between Qatar and Jordan over the past years was attributed by traders and importers in Qatar to the increase in the pace of imports into Qatar from Jordan, particularly during the World Cup season. The tournament saw an increasing demand for products and goods, particularly food items, as stated by Qatari traders and importers.

According to Qatari businessman Fawaz Al-Fardan, close business ties existed between Jordan and Qatar because of the high dependence of Qatar on Jordan for a sizable portion of its needs in terms of commodities and foodstuffs, particularly fruits and vegetables, as well as various other consumer goods.

According to Hamad Al-Suwaidi, the World Cup 2022 alone increased consumption rates significantly. Hamad Al Suwaidi is one of Qatar’s major importers, and he further stated that the pace of the flow of Jordanian food commodities to the markets of Qatar was going faster than ever during 2022. As a result, local merchants increased the volume of imported foodstuffs, particularly fruits and vegetables, he stated.

Fresh and processed food and products, as well as vegetables, fruits, meat, all varieties of dates, fresh milk, cheese, juices, nuts, rice, coffee, oils, and more, are all exported from Jordan to Qatar. The products that Qatar exports to the market in Jordan include plastic bags, motor oils, aluminum molds, Slovenia acid, paraffin, polyethylene, chemical fertilizers of various types and uses, iron rods, and pharmaceuticals.

Between 2012 and 2017, Qatar’s exports to Jordan totaled around QAR 5.35 billion, compared to QAR 2.44 billion in imports. This difference in volume between the export and import was worth QAR 2.91 billion, which is a trade surplus in favour of Qatar.

Meanwhile, more than 100 Jordanian businesses engaged in a variety of economic sectors received licences from the Qatar Financial Center (QFC) earlier in January this year. The majority of Jordanian businesses that have received QFC licences are engaged in financial and digital technology industries like banking, finance, savings, investments, fund management, public services, hospitality, trade, imports, and exports.References