Mining sector generated over 30% of Kingdom’s exports in 2021

(File photo: Jordan News)
AMMAN — Jordan's mining sector brought in JD3.11 billion in revenues in 2021, making up 9.12 percent of the country's GDP and 30.4 percent of total exports, Ministry of Energy and Mineral Resources Saleh Kharabsheh said on Sunday.اضافة اعلان

Extractive industries, processes that extract raw materials from the earth, contributed JD1.94 billion of the total revenue, while transformative industries, or transforming resources into other forms of capital, generated JD1.16 billion, the Jordan News Agency, Petra, reported.

During the past year, the sector focused on growth and expansion, making several tangible steps to encourage investment and explore new opportunities.

"In 2022, the ministry signed seven memoranda of understanding in an effort to put Jordan firmly on the regional and global mining map," the ministry added, with previous statements by Kharabsheh describing the memoranda as a strategy to restore momentum to the mining sector, which has “high industrial value”.

The ministry has unveiled an interactive digital map on its official website to promote regions with promising mineral resources and encourage oil and gas exploration.

The future of Jordan’s mining sectorJordan's mineral resources strategy aims to increase the mining sector's contribution to GDP from the current 9.12 percent to 11 percent by 2025. The sector includes extractive and transformative industries that supply raw materials, intermediate products, and finished goods to local and global markets.
Jordan's mineral resources strategy aims to increase the mining sector's contribution to GDP to 11 percent by 2025.
Local mining industries have recently made “significant strides” on many fronts, most notably in the extraction and manufacturing of phosphates, potash, bromine, chemical acids, and fertilizers, the ministry said.

Because they provide the raw materials for many manufacturing industries (such as fertilizers and acids), the extractive industries play a significant role in fostering economic independence by helping the Kingdom to cut down on its imports of manufactured goods. In the long run, this will boost the GDP and contribute to social advancement through efficient labor practices.

Read more Business
Jordan News