Jordan - Market OverviewJordan - Market Overview
Top Reasons to do business in Jordan:
- Strategically positioned to access the Middle East.
- U.S. - Jordan Free Trade Agreement is fully implemented.
- The port expansion project affords opportunities in infrastructure development.
- Politically Stability and Security.
- Jordan economy is extremely dependent on imports.
- U.S. products, technology, and brands are well regarded.
Jordan is strategically positioned at the crossroads of the Middle East-North Africa (MENA) region, centrally located between Europe, Asia, and Africa.
The Hashemite Kingdom of Jordan is only one of two Arab countries to have signed a peace agreement with Israel, and in 2001, it became the first Arab country to sign a Free Trade Agreement with the United States.
The U.S.-Jordan Free Trade Agreement (FTA), which came into full effect in 2010, continues to create advantages for U.S. exporters, who are able to sell high-quality products at more attractive prices, as tariff barriers on the majority of goods traded between the United States and Jordan have been eliminated. Because of the FTA, bilateral trade has surged ten-fold over the past 14 years.
With a moderate climate and historical sites such as the Dead Sea, Petra, and Wadi Rum, Jordan remains a prominent tourist destination in the Middle East, despite a recent decline in tourism arrivals due to regional unrest. The development of Jordan’s sole port city of Aqaba holds significant promise for tourism-related infrastructure projects, including hotel construction and management, as well as other commercial opportunities. The port expansion project and relocation of the main port to south of the city center also affords opportunities in infrastructure development.
Regional strive has had its impact on Jordan’s ability to trade freely with its neighbors. The closing of Jordan’s main border crossings with Iraq and Syria due to regional unrest has added additional stress on Jordan’s trade and logistics infrastructure. Fortunately, Jordan remains a haven of stability for business interests and is still able to serve as a business hub in the region. Jordan has strong, cooperative relations with its neighbors and the wider international business community. Jordan’s economy is extremely dependent on imports. Imports into Jordan include: mineral fuels and crude oil, industrial machinery, transportation equipment, food and agricultural products, textiles, manufactured goods such as rubber products, paper and cardboard, yarns, chemicals, clothing and footwear. The largest exporters to Jordan include: the European Union (20 percent of total imports), Saudi Arabia (20 percent), China (11 percent), and the United States (6 percent). The following sectors offer the best opportunities for U.S. firms in the Jordanian market:
- Energy/Power, including Renewable Energy.
- Healthcare, including Medical Devices, Medical Tourism.
- Information Communication Technology (ICT).
- Safety & Security.
- Environmental Technologies/Water.
Jordan Trade Development and Promotion