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Research Brief

Jordan: Effects on Logistics, Trade, and Construction

Majdi Noufal, CPA, CMAFounder & Managing PartnerJuly 9, 20265 min read2 pages
Logistics & FreightGeopolitical & Macro Risk

Executive Summary

On 28 February 2026, the United States and Israel launched Operation Epic Fury against Iran, killing Supreme Leader Ali Khamenei and triggering a regional war that has killed thousands in Iran and Lebanon and displaced millions across the region. Jordan absorbed more than 200 Iranian drones and missiles aimed at U.S. and local targets on its territory, including one strike that destroyed a THAAD missile-defense radar base.

Key Takeaways

01

Aqaba port became Jordan's primary lifeline once regional airspace closures and land-route instability took hold.

02

Air cargo was hit hard by regional airspace closures that grounded more than 4,000 flights a day across the Gulf at the war's peak.

03

Household staples spiked sharply — a 10-litre tin of corn oil rose from roughly $10 to $17 and rice nearly tripled — prompting purchase limits.

04

Electricity generation costs rose by an estimated $140 million after Israeli gas supply to Jordan was halted, with public debt near 114% of GDP.

Logistics

Jordan's limited maritime access made Aqaba port the kingdom's primary lifeline once regional airspace closures and land-route instability took hold; imports continued flowing through Aqaba specifically to reassure consumers even as costs climbed. Air cargo, which Jordan depends on disproportionately given its geographically constrained borders, was hit hard by regional airspace closures that grounded more than 4,000 flights a day across the Gulf at the war's peak, with Jordan's aviation sector describing the shock as comparable to the disruption seen during COVID-19.

Trade

Jordan's chemical and garment exports, which together account for more than half the country's total exports, have lost ground in the U.S. market as Washington's trade posture shifted toward "America First" industrial protections layered on top of wartime disruption. On the import side, household staples spiked sharply: a 10-litre tin of corn oil rose from roughly $10 to $17 and rice nearly tripled, prompting purchase limits to curb hoarding. Electricity generation costs rose by an estimated $140 million after Israeli gas supply to Jordan was halted, squeezing a budget already dominated by salaries and debt service, with public debt near 114% of GDP and unemployment above 22%.

Construction

Jordan's response to its energy vulnerability includes accelerating a land-based gas storage reservoir at Aqaba, intended to come online in 2026 for strategic stockpiling — one of the few construction-linked investments moving forward because of the war rather than despite it. More broadly, regional investors have grown more cautious about committing capital to new Jordanian projects while the conflict's trajectory remains unresolved, consistent with the wider Gulf-wide pause in early-stage financing decisions.

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