Jordan’s imports bill for crude oil and oil derivatives plummeted by a major 49 per cent in the first nine months of the current year, thanks to cheap oil prices.
The Arab kingdom’s imports of oil and fuel went down to JOD1.7 billion by the end of September compared with JOD3.3bn in the same period last year.
The country’s imports of crude oil alone slumped by 40 per cent to JOD761 million from JOD1.27bn in the corresponding period of 2014, according to data released by the national department of statistics.
Diesel imports tumbled by 70 per cent to a total of JOD376m by the end of September this year against JOD1.23bn during the first nine months of 2014.
Furthermore, Jordan’s fuel oil imports went plunged by 41 per cent to JOD203m compared with JOD348m, the data published by Al-Ghad newspaper indicates.
The current cheap prices of oil have relatively eased pressure on Jordan’s budget, which has been strained during the past few years because of high prices. The Arab kingdom imports roughly 97 per cent of its energy needs.
(JOD1 = AED5.18, at the time of publishing)