Jordan’s Pharmaceutical Exports Grow by 14.8% in 2024
Jordan’s pharmaceutical exports witnessed a notable increase of 14.8% in 2024, overcoming the challenges faced by supply chains in the region. These challenges were exacerbated by the negative impacts of the Israeli aggression on the Gaza Strip. According to Dr. Fadi Al-Atrash, the representative of the Therapeutic Industries and Medical Supplies sector in the Jordan Chamber of Industry, the country’s pharmaceutical exports reached 611 million Jordanian dinars ($861 million) in 2024, compared to 532 million dinars ($750 million) in 2023.
Recovery of the Pharmaceutical Sector
Dr. Al-Atrash emphasized that the pharmaceutical industry was the second-largest industrial sector to show export growth last year. This reflects the recovery of companies in the sector from the difficulties they faced due to the unstable regional conditions. In addition, companies successfully introduced new, innovative, and high-quality drug groups into their production operations. There was also an increased demand for pharmaceuticals in neighboring markets.
Pharmaceutical Industry’s Role in Economic Growth
The pharmaceutical industry is a crucial pillar of Jordan’s economic modernization vision, supporting the growth of high-value exports. It represents around 5% of the total industrial exports of the country. Jordan’s pharmaceutical industry is one of the oldest in the Arab region, with the first factory established in the city of Salt in 1962. Currently, Jordan exports 80% of its pharmaceutical production.
Industry Overview
The pharmaceutical sector in Jordan constitutes 85% of the total therapeutic industries and medical supplies sector. It includes 27 facilities across the country, with a registered capital of about 280 million dinars ($395 million). The sector has created approximately 7,000 direct and indirect jobs, with women accounting for 35% of the workforce.
Global Expansion of Jordanian Pharmaceutical Exports
Jordanian pharmaceutical exports now reach 85 markets worldwide, including Saudi Arabia, Iraq, the United States, the UAE, Algeria, and Yemen. The pharmaceutical sector in Jordan has a robust production capacity, estimated at 1.5 billion Jordanian dinars ($2.11 billion) annually.
Economic Modernization Vision: Export Growth Targets
Jordan’s economic modernization vision aims to increase pharmaceutical exports by 20.3% annually, reaching approximately 2.1 billion dinars ($3 billion) by 2033, compared to an estimate of 200 million dinars ($282 million) in 2021.
Sources:
- Jordan News Agency (Petra)
- Jordan Chamber of Industry
- Official Government Reports on Economic Modernization