Jordan’s industrial sector remains a central pillar of the kingdom’s economy with manufacturing contributing $6bn to the country’s estimated nominal GDP of $35.7bn in 2014. Meanwhile the country’s large mining industry – particularly of potash and phosphate – have fueled the rise of major chemicals and fertiliser industries in the kingdom while the country’s robust building materials sector...
Jordan Industry
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Chapter | Industry & Retail from The Report: Jordan2015
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.
Much discussion of Jordan’s economic potential focuses on the mining and processing of minerals, but knowledge sectors like pharmaceuticals may offer a more effective tonic for the economy.
Despite facing a challenging economic climate marked by regional unrest and high energy prices, Jordan’s industrial sector held its ground in the first four months of 2014, posting modest year-on-year (y-o-y) growth.
A new committee has been launched to build on the success of the Aqaba Special Economic Zone, the centrepiece of a long-term strategy to spread faster and more sustainable economic development to the rest of the kingdom.
A confluence of factors is opening opportunities for Jordanian garment manufacturers in their bid to win a greater share of Western clothing markets.