Iraq unrest costs Jordanian industrial sector $600 million

(IraqiNews.com) Jordan’s industrial sector has endured more than $600 million losses due to the unrest in Iraq and the confrontations with ISIS this year, Chairman of Small and Middle Enterprises Association Fathi Jaghbir said.

Jaghbir has said, that the unrest in Iraq due to the ISIS crisis is costing the industrial sector approximately 80 million Jordanian dinars ($113 million) a month, adding that, the unrest in Iraq has prevented the implementation of some export contracts, and caused increase in exportation costs to Iraq as well as drivers’ salaries.

Jaghbir added that the high fees imposed by ISIS along the Jordanian-Iraqi border had forced some exporters to transport their shipments alternatively via Turkey, all of which also increased exportation costs to Iraq.