ALBAWABA — Jordan's mining industry brought in JD3.11 billion in revenue in 2021, the Ministry of Energy and Mineral Resources announced on Sunday.
The sector - which includes extractive and transformative industries that supply raw materials, intermediate products, and finished goods to local and global markets - generated JD1.94 billion of the total revenue, while the transformative industries generated JD1.16 billion, making up 9.12 percent of the country's GDP and 30.4 percent of total exports, the ministry said.
Phosphate and potash dominate the Kingdom's commodity export basket, respectively constituting 16.1 percent and 6.5 percent of global export volumes.
Jordan's mineral resources strategy aims to increase the mining sector's contribution to GDP to 11 percent by 2025.
"In 2022, the ministry signed seven memorandums of understanding in an effort to put Jordan firmly on the regional and global mining map," the ministry added.
Energy Minister Saleh Kharabsheh noted that the MoUs were strategic to restoring momentum to the mining sector, which has a high industrial value, playing a significant role in fostering economic independence and helping cut down the importation of manufactured goods.
In the long run, this will boost GDP and contribute to social advancement through the efficient use of labor, the ministry said.
The ministry unveiled an interactive map in hopes of promoting regions with promising mineral resources, and encouraging oil and gas exploration.
Mining is a key growth engine for the economy in the long-term and a means to lower the Kingdom's current-account deficits as local mining industries make significant strides, most notably in the extraction and manufacture of phosphates, potash, bromine, chemical acids, and fertilizers.
