Jordan’s Exports, Foreign Investment Surge in 2022 Despite Pandemic, Ukraine Crisis

Jordan saw an unprecedented 36% rise in exports in 2022 despite the challenges of the COVID-19 pandemic and energy price hikes due to the Ukrainian crisis, Deputy Prime Minister for Economic Affairs Nasser Shraideh said on Saturday. The surge was led by increased exports of potash and phosphate, Shraideh reported. Foreign investment in Jordan rose by 67% in the same year, he said.

Shraideh, who is also the minister of state for public sector modernization, added that the Jordanian economy grew by 2.7% in 2022 and that he expected the figure to rise to 3% by 2025 through ongoing reforms.

Jordan has completed five reviews under the extended fund facility program with the International Monetary Fund.

The news bodes well for Jordan’s economy, which was hit hard by the pandemic and the associated economic fallout. The surge in exports and foreign investment is a positive sign of economic recovery and growth in the country.