Jordan Times
Wednesday, March 9, 2005
Exports to US top $1.9 billion
AMMAN (Petra) — Exports to the US surged by 62 per cent to $1.92 billion last
year compared to $673 million during 2003.
According to official figures from the Ministry of Industry and Trade, exports
from the Qualifying Industrial Zones (QIZs) totalled $927.3 million.
Exports benefiting from the Jordan-US Free Trade Agreement totalled $20.696
million while those under the generalised system of preferences (GSP) totalled
$89.7 million.
Remaining exports that did not benefit from the available programmes totalled
$54.774 million, the figures indicated.
Foremost of these exports were garments, jewellery, Dead Sea products and
electric equipment.
Jordan signed the QIZ agreement with the US in 1997, providing for duty-and
quota-free exports to the US market as long as production inputs constitute 27
per cent. Value added sometimes reaches 32 per cent.
The investment volume at Al Tajamouat Industrial Estate in Amman currently
totals around JD350 million, accounting for 40 per cent of the overall
investments by about 100 factories in the QIZs around the country.
At the end of 2004, exports of Al Tajamouat Industrial Estate to the US reached
around JD200 million, representing 29.9 per cent of the overall QIZs' exports.
The industrial estate attracted 29 foreign investors operating in the garments
sector and 120 local projects, ranging between light to medium industries and
service projects.