Amman, Jordan’s textile exports increased during January-November 2022, by $338.4 million, with a growth rate of 20.2 percent, compared to the figure reported in the same period of 2021, according to representative of the leather and textile sector in the Jordan Chamber of Industry, Ehab Qadri.
In a statement on Monday, Qadri said that the growth rate is higher than the expected average annual growth rate stipulated in the Economic Modernization Vision, which was predicted to be about 12 percent annually.
The growth, he indicated, was driven by the efforts exerted to enhance the national products’ access to many global markets, most notably the United States, the biggest importer of Jordanian garment, accounting for, on average, more than 85 percent of the Kingdom’s total garment exports.
According to the International Trade Center’s Export Potential Map the garment sector has untapped export opportunities to many global markets estimated at about $550 million, Qadri pointed out, stressing that the sector is capable of raising its actual exports much higher than the current amount. An opinion supported by the sector’s exports during the current difficult circumstances that the global economy is suffering from, including the lack of global demand as a result of inflation, and the turmoil of some global markets, in addition to the high costs of production such as raw materials, energy prices, freight and transportation costs.
He pointed out that it is possible to increase exports if the difficulties facing the sector’s products are overcome, stressing that the recent opening of a direct maritime line between Jordan and the United States will be a major driver to that end by saving time, effort and cost.
Qadri also called for the need to work in a participatory approach between the public and private sectors and to follow up closely on the national strategies to ensure the implementation of initiatives and strategies.
SOURCE: JORDAN NEWS AGENCY