INSEAD Day 4 - 728x90

Samsung biggest chip investor

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AD Ports Group acquires CLI

CLI is Brazilian agri-bulk terminal operator.

$1.59bn Makkah project awarded

A consortium will develop two districts in the Holy City.

2PointZero posts profit surge

Growth driven by merger consolidation.

Demand for garments, footwear stagnant in Jordan

Affirma Capital is considering selling its stake in Fine Hygienic Holding. Representative pic
  • Asaad Qawasmi, the Jordan Chamber of Commerce's representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr
  • He expressed optimism that the market was expected to improve in about three weeks from now with the return of expats and visitors for the summer break

Despite stable costs and the sale of merchandise based on indicative pricing, current demand for apparel and footwear in Jordan is “extremely low,” an industry source told a Jordanian news agency. 

Asaad Qawasmi, the Jordan Chamber of Commerce’s representative for the apparel, fabrics, footwear, and jewelry sector, said that demand has plateaued since the Eid Al-Fitr holiday, despite the start of the summer season, which generally sees higher demand.

“However, merchants have prepared for the upcoming Eid al-Adha,” Qawasmi said, “Although customers typically direct their expenses during this period towards the cost of animal sacrifices and Hajj.”

He expressed optimism that the market was expected to improve in about three weeks from now with the return of expats and visitors for the summer break, as well as preparations for the Hajj season.

He indicated that apparel and footwear imports had amounted to approximately JD90 million since the beginning of 2022, an increase of approximately 10 percent over the same period in the preceding two years, with a further increase expected by the end of this year.