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(MENAFN- Jordan Times)
AMMAN – National exports of the leather and garment industry reached around 90 countries, the Jordan Chamber of Industry (JCI) announced on Tuesday.
The sector accounted for 21 per cent of total industrial exports, hitting a record high of $2.4 billion, marking a 24 per cent increase compared with 2023 and the “strongest” export performance since 2010, the Jordan News Agency, Petra, reported.
JCI representative for the leather and garment industries Ihab Qadri said that “the growth we’re seeing is a clear sign of the sector’s renewed momentum in international markets”.
He added that “despite regional and global economic challenges, the sector is proving resilient and competitive.”
Qadri attributed much of the export growth to a gradual recovery in demand from the US, which currently receives 80 per cent of the sector’s exports, as well as to increased shipments to key European markets, such as the Netherlands and Belgium.
Over the past 10 years, the total investment in the sector has surged by 150 per cent, rising from $420 million to over $1 billion.
The number of active enterprises has also grown“significantly”, from 600 by the end of the last decade to over 1,000 today, supported by the establishment of production facilities across governorates.
Under Jordan’s Economic Modernisation Vision, the sector is expected to play a “central” role in job creation and industrial growth.
The plan aims to increase the sector’s value-added output by 10 per cent each year, reaching $1.8 billion by 2033, and to boost total production to $8.8 billion and attract $3.1 billion in new investments.
The sector is also set to generate 149,000 of the one million jobs that the plan intends to create for Jordanians.
The industry currently employs over 96,000 people, a workforce that has grown by 8 per cent, with 31 per cent of them are Jordanians.
He noted that the project has reached an “advanced” phase, through completing feasibility studies, setting plans in place to finalise the location, offer incentives and launch promotional campaigns in order to attract further investments and skilled labour.
The JCI member referred to progress made in a project to establish a“comprehensive industrial cluster,” with support from the International Finance Corporation.
Qadri said that the aim of the cluster is to fill gaps in the supply chain and reduce delivery times, thereby enhancing the sector’s global competitiveness and export potential.
He also acknowledged that there are challenges, mainly in the high cost of raw materials, which account for around 60 per cent of total production expenses.
There is still a lot of “untapped” potential, Qadri noted, citing estimates from the International Trade Centre that Jordan’s leather and garment exports could grow by an additional $752 million if market opportunities were “fully” exploited.
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