AMMAN, JORDAN – The pharmaceutical and medical supplies sector of Jordan has experienced an impressive 29.7 percent growth in exports during the first five months of this year compared to the corresponding period last year.
Fadi Al-Atrash, the sector’s representative at the Jordan Chamber of Industry, revealed that exports from this sector for the initial five months of this year reached approximately US$375 million (JD266 million), an increase from US$289 million (JD205 million) in the same period last year.
In a statement to the Jordan News Agency (Petra), Al-Atrash said that the sector’s exports have entered 85 global markets.
The industry’s growth has been registered across the three chambers of industry in the Kingdom – with Zarqa witnessing a 63.7 percent increase, Amman 28.5 percent, and the Irbid Chamber of Industry observing a 9.8 percent growth.
Al-Atrash attributed this prosperous growth to the regularization and recovery of supply chains, and an uninterrupted supply of raw materials, packaging and production inputs.
This harmony in the production chain, he said, has been instrumental in boosting production and sales.
He also acknowledged the role of companies that managed to bounce back post the adverse impact of the COVID-19 pandemic, targeting growth and expansion into new and non-traditional markets.
The sector representative highlighted the fact that some firms were able to secure European Good Manufacturing Practice Certificates, paving the way for them to export to the lucrative European market.
Moreover, he noted the resumption of export activities to Algeria, which stands as one of the largest pharmaceutical markets in the region.
Al-Atrash applauded the Jordan Food and Drug Administration’s unwavering support in expediting the registration of local products, which has subsequently led to the expansion of exports.
He emphasized the uniqueness and diversity of modern and innovative pharmaceutical forms and the advancement of production lines reflecting the significant development of the Jordanian medicine and medical supplies industry.
Al-Atrash said the importance of a robust public-private partnership in empowering the sector to become a regional hub for pharmaceutical manufacturing.
Such cooperation also facilitates investment in research and development, leading to the production of new therapeutic groups that positively influence the growth of Jordanian exports.
The pharmaceutical and medical supplies sector comprises 151 facilities with a registered capital of about US$480 million (JD341 million).
There are also 15 Jordanian factories operating outside the Kingdom, specifically in Saudi Arabia, Algeria, Egypt, Morocco, and Sudan.
Reflecting on the vision of economic modernization, Al-Atrash underscored its pivotal role in supporting the sector as a vital and steadily growing industry.
This vision seeks to enhance exports to reach 2.1 billion dinars, create employment for 16,000 individuals, and increase the contribution to the GDP to US$2.3 billion (JD1.7 billion) by 2033.
Al-Atrash, who also serves as CEO and Board Member of the Amman Pharmaceutical Industries, mentioned the vision’s ambition to attract investments worth 1.1 billion dinars over the next decade.
This influx of investment will aid in transforming the sector into a regional center for pharmaceutical products through technological adoption, development of new drugs, market expansion and achieving pharmaceutical security for Jordan and the surrounding region.