Medical sector thrives with 6.3% export growth in 2023

AMMAN — The  exports of medical industries and medical supplies sector in 2023 experienced a 6.3 per cent growth, Fadi Al Atrash, the representative of the pharmaceutical and medical supplies sectors at the Jordan Chamber of Industry, said on Saturday.

Atrash  said that the combined exports of the sector’s three sub-sectors (human pharmaceuticals, veterinary pharmaceuticals and pesticides, and medical supplies) amounted to JD736 million last year, compared with JD692 million in 2022. This positioned the sector as the sixth-largest in exports and fifth in positive growth among other sectors.

The medical industries and medical supplies sector encompasses 151 companies with a registered capital of approximately JD341 million,  including 15 Jordanian factories located outside the Kingdom in Saudi Arabia, Algeria, Egypt, Morocco and Sudan, the Jordan News Agency, Petra reported.

Atrash highlighted that the human pharmaceutical sector played a dominant role in the 2023 export landscape, contributing JD620 million and registering a growth rate of 19 per cent compared with 2022.

He also stressed the vital role of including the sector in the economic modernisation vision, streamlining various procedures and accelerating registration processes, which has led to a direct impact on export growth.

Atrash also highlighted the ongoing support of the Jordan Food and Drug Administration to the sector, automating several processes related to the registration of local medicines and introducing modern laws and regulations that have positively impacted the industry.

He also underscored the in-kind donations of medicines and medical supplies worth JD18 million by companies in the sector to support the resilience of Gazans in the face of Israeli aggression.