Jordan presents a dynamic market for Swiss and Liechtenstein exporters, with significant opportunities in industrial growth amidst economic recovery efforts.
Jordan’s economy grew by 2.5% in 2024, supported by a 4.4% expansion in the industrial sector. Foreign exchange reserves strengthened, now covering roughly eight months of imports and contributing to a stable trade environment. However, high public debt and persistent unemployment - particularly among youth and women - remain major structural challenges. Exporters should leverage growth areas such as manufacturing while forming strategic partnerships and adapting to local market conditions.
Yes
Free Trade Agreement
There is a free trade agreement between Switzerland and this country. Source: State Secretariat for Economic Affairs SECO
Jordan’s strong pool of young, motivated talent, but also consumers, offers promising opportunities for companies that invest locally. Building skills and creating value on the ground often leads to strong, long-term partnerships.
Suhail El Obeid
Senior Consultant Middle East
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FAQs
What is the current economic situation?
The economic situation in Jordan is characterized by moderate growth and improved foreign reserves, but challenges remain. In 2024, Jordan's economy grew by 2.5%, slightly down from 2.7% in 2023, with inflation decreasing to 1.95%. The country's foreign reserves increased to $20.1 billion, covering eight months of imports. However, high unemployment at 21.3% and a significant budget deficit of 6% of GDP pose ongoing challenges. Swiss exporters should consider the stable inflation and improved reserves as positive factors for trade, but remain cautious of the high unemployment and fiscal deficit that may affect consumer demand.
What are the main export and import trends?
Swiss exporters should note that while overall trade with Jordan has decreased, with Swiss exports to Jordan dropping by 17.6% and imports from Jordan falling by 39.2%, there are still opportunities in sectors like fruits and nuts, which saw a significant increase in exports to Saudi Arabia and the UAE. Additionally, the trade balance remains positive for Switzerland, indicating a potential for strategic growth in specific sectors.
What opportunities exist for Swiss companies?
Swiss companies have opportunities in Jordan's expanding electric vehicle market and the aviation sector. The growth in the electric vehicle market in 2024 presents a chance for Swiss exporters of automotive technology and components. Additionally, the expansion of Queen Alia Airport and Jordan's development as a hub for MRO services for aircraft, with companies like Joramco and JAC, offers potential for Swiss firms in aviation technology and services.
Which sectors are most promising?
The most promising sectors for Swiss exporters in Jordan include the electric vehicle market and the aviation maintenance, repair, and operations (MRO) sector. The electric vehicle market in Jordan experienced significant growth in 2024, indicating rising demand for related technologies and components. Additionally, Jordan has become a hub for MRO services, with companies like Joramco and JAC expanding their capabilities, presenting opportunities for Swiss exporters of aviation parts and services.
What are the main challenges and risks?
Swiss exporters face challenges such as dependency on international financial aid in some markets, which can lead to economic instability and affect demand for exports. For instance, Jordan relies heavily on financial aid from countries like the USA and Germany, which could impact its economic resilience and purchasing power.
