Jordan: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Jordan

In 2022, the Jordanian market for processed petroleum oils and distillates increased by 5.4% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in Jordan

In value terms, processed petroleum oils and distillates production shrank to $X in 2022 estimated in export price. Overall, production saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 8.9% against the previous year. Processed petroleum oils and distillates production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Jordan

Processed petroleum oils and distillates exports from Jordan shrank dramatically to X tons in 2022, dropping by -35.2% on the previous year's figure. Overall, exports showed a abrupt slump. The growth pace was the most rapid in 2013 with an increase of 54%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports shrank sharply to $X in 2022. In general, exports recorded a deep slump. The pace of growth appeared the most rapid in 2013 with an increase of 84%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), the Netherlands (X tons) and Free Zones (X tons) were the main destinations of processed petroleum oils and distillates exports from Jordan, together accounting for 93% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +74.0%), while the other leaders experienced mixed trend patterns.

In value terms, the United States ($X), the Netherlands ($X) and Free Zones ($X) were the largest markets for processed petroleum oils and distillates exported from Jordan worldwide, with a combined 94% share of total exports.

The Netherlands, with a CAGR of +74.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, jumping by 30% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and India ($X per ton), while the average price for exports to Palestine ($X per ton) and Free Zones ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+25.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed Petroleum Oils and Distillates

Imports into Jordan

In 2022, approx. X tons of processed petroleum oils and distillates were imported into Jordan; with an increase of 29% compared with the previous year's figure. Over the period under review, imports recorded a pronounced increase. The pace of growth was the most pronounced in 2021 when imports increased by 202% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. In general, imports saw a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 225%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, India (X tons) was the main supplier of processed petroleum oils and distillates to Jordan, with a 95% share of total imports. It was followed by Turkey (X tons), with a 2% share of total imports. The third position in this ranking was taken by the United States (X tons), with a 0.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +43.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-18.5% per year) and the United States (-38.3% per year).

In value terms, India ($X) constituted the largest supplier of processed petroleum oils and distillates to Jordan, comprising 92% of total imports. The second position in the ranking was held by Turkey ($X), with a 1.9% share of total imports. It was followed by the United States, with a 0.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India stood at +59.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-11.0% per year) and the United States (-24.1% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, standing approx. at the previous year. Over the period under review, the import price, however, continues to indicate resilient growth. The most prominent rate of growth was recorded in 2015 an increase of 183% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform