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French Version

Business Scene

JORDAN (Star) - * Trade volume between Spain and Jordan is seeing a marked increase. According to Spanish statistics mutual trade in 2001 was estimated at JD 50 million. This is an increase of JD 4 million over 2000.

Spanish exports to Jordan include ceramics, mechanical equipment, jewelry and electric materials. Jordanian exports are primarily fertilizers and paper products. Statistics indicate Spanish investment in Jordan is worth 64.5 million euros (about JD 41 million). * Jordan's foreign debts are estimated at JD 4.7 billion. Nearly one quarter of this is due to Japan. The World Bank is next among Jordan's creditors at JD 704 million followed by the Arab Fund for Social and Economic Development at JD 342 million. Jordan owes Germany, the US and France JD 220 million, JD 61 million and 56 million respectively. Among the institutions due payment, the Kingdom will owe the European Investment Bank JD 166 million in dues. Another JD 325 million is due to the International Monetary Fund.

* Sales tax generated JD 595 million for the treasury this year. This is an increase of JD 74 million over 2001. Iyad Qdah, director general of the Sales Tax Dept, said this year is scheduled for more adjustments to the tax, including the reduction of exempted products and an increase in the number of businesses included in the tax. * The number of bad checks increased in 2001 in both value and sheer volume.

Recent statistics by the Central Bank of Jordan indicate bounced checks worth JD 515.5 million were passed last year, comprising about 4.1 percent of the overall value of circulated checks for the year-an estimated JD 12.6 billion. Insufficient funds were behind the rubber tender of some 300,000 checks last year valued at JD 286.6 million. In December bad checks worth JD 42 million were written, comprising 3.8 percent of the overall circulated checks for the month. * The US-Jordan Free Trade Agreement promoted local exports 10 fold to over JD 200 million. Farouq Al Hadidi, director general of the Jordan Exports Development Corp, said the products currently partially exempted from custom duties would be fully exempted in the agreement in the coming eight years. In principle, this will include all industrial and agricultural products. This year there are 6847 products. In 2010 there will be an expected 10,120 products. Hadidi said the agreement preserves labor rights, intellectual property rights and e-commerce funds. * Agricultural output in Jordan has doubled over the past five years. The Kingdom today produces more than 500 million eggs each year worth JD 40 million.

Nearly half of these are produced for domestic consumption, the other half are used in breeding. The Kingdom produces more than 850 tons of dairy products worth JD 3.5 million each year. * Approximately 61.5 percent of the products produced by Al Zai Readywear Manufacturing Company in 2001 were sold to foreign markets. The company earned JD 7 million in profits last year. JD 4.2 million came from exported goods. The company has an agreement with major US companies to sell 80,000 suits each year. The company's remaining inventory of 40,000 suits will go to local and regional markets.

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Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
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Engineering Consultants Lebanon
Nsouli Jewelry Lebanon
Hotel Beirut Lebanon
Rent Villas France for Holidays, Seasonal Rentals France
Sole Agent for Philips & Whirlpool in Lebanon
Arab Printing Press Lebanon
Hotel Beirut Lebanon
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Groupe PMR