AMMAN
— According to Fadi Atrash, the Representative of the Curative Industries and
Medical Supplies Sector at Jordan Chamber of Industry (JCI), Jordan's drug
industry sector holds a "prominent and pioneering" position in the
region.
اضافة اعلان
The
sector's pharmaceutical products are exported to 85 countries across the world,
he added.
GrowthAtrash
reported that the sector's production amounts to about JD1.62 billion annually,
which constitutes approximately 10 percent of the total production of the
Kingdom's entire industrial sector. Additionally, he noted that the sector’s
average growth rate of production during the past decade reached 8.8 percent
annually.
Jordan's
pharmaceutical industries and medical supplies account for 3 percent of the
gross domestic product, which is equivalent to JD828 million in added-value
production operations. This constitutes 12 percent of the total added value of
Jordan's industrial sector, said Atrash.
The
sector has 151 establishments, with a registered capital of about JD341
million. Meanwhile the number of Jordanian factories outside the Kingdom is 15,
located in Saudi Arabia, Algeria, Egypt, Morocco, and Sudan
Jordanian
manpowerA
significant key trait of the sector, said Atrash, is its reliance on Jordanian
manpower at various administrative and technical levels, with over 98 percent
of the total workforce being Jordanian.
Jordan's pharmaceutical industries and medical supplies account for 3 percent of the gross domestic product, which is equivalent to JD828 million in added-value production operations
Atrash
noted that the Economic Modernization Vision has made Jordan's medical
industries and supplies sector a top priority as a high-value business and
supporter of economic growth.
The
features multiple initiatives and strategies to advance the sector, aiming to
make pharmaceutical industries' value-added share of gross domestic product at
about JD1.7 billion and increase the number of employees to 16,000, he said.
The
vision seeks to raise the sector’s exports to reach JD2.1 billion by 2033 by
adopting multiple priorities to achieve this goal. The initiatives include
creating "qualitative" pharmaceutical industries, establishing a
center for drug research and development, and attracting investments to the sector
at approximately JD1.1 billion within 10 years in a bid to upgrade the industry
to become a regional center for pharmaceutical products, according to Atrash.
Export
opportunityStatistics
from the World Trade Center showed that the Kingdom has multiple export
opportunities to various countries across the world in multiple industrial
sectors, foremost are therapeutic industries and medical supplies, which were
estimated at more than $515 million for various nations.
The US is the highest untapped market for export opportunities with a value of $164 million, followed by the Saudi market with $52 million and China with $37 million, he noted.
Most
of these export opportunities are concentrated in countries of the North
American region, with a value of $174 million, and then Middle East nations
came second with $85 million, he said.
The
US is the highest untapped market for export opportunities with a value of $164
million, followed by the Saudi market with $52 million and China with $37
million, he noted.
Atrash
also estimated that the value of Jordanian export opportunities for
pharmaceutical industries within the African market would exceed $100 million.
During
2022, exports of the medical industries and supplies sector increased by 5.7
percent, compared to 2021, to reach JD692 million, accounting for approximately
7.3 percent of the total Jordanian industrial exports, he noted.
Exports
of human pharmaceutical industries hit JD599 million, while veterinary
medicines stood at JD87 million and medical supplies at JD14 million, or 2
percent of the sector’s total exports.
Meanwhile,
Arab markets were the key export destinations for the sector during 2022,
accounting for 86 percent of the total exports, with a value of JD602 million,
while the US was the top non-Arab partner, witch imported drugs at a value of
about JD57 million, Atrash said.
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