Al-Jaghbeer: Positive Results Achieved By Industrial Sector In 2024

(MENAFN- Jordan News Agency)

Amman, Jan. 1 (Petra)-- Despite the region's instability, the industrial sector produced a number of excellent outcomes in 2024, according to Fathi Al-Jaghbeer, head of the Jordan and Amman Chambers of Industry.
Supply chains, production costs, and export markets were all directly impacted by the events in the region, according to Al-Jaghbeer, who spoke to the Jordan News Agency (Petra).
Despite this, he continued, there are a number of encouraging signs for the industrial sector's performance, such as the Jordanian industry index results, which revealed that the industry saw an impressive 5.2 percent growth in the third quarter of last year when compared to the same period in 2023.
He noted that the industrial sector created 3,300 job opportunities in the first half of 2024, according to Social Security data, and topped the sectors that contributed to the growth of the national economy by more than a third, or 2.2 percent, for the first half of last year.
According to Al-Jaghbir, industrial exports reached 145 countries worldwide and grew by 1.5 percent over the 10 months of last year compared to the same time in 2023. They totaled 6.5 billion dinars.
He said that this was accomplished in spite of the difficulties the export business faced, which were a primary factor in restricting its capacity to grow and deepen its penetration into numerous international markets. This demonstrates the breadth of its assets and capabilities as well as its capacity to enter non-traditional international markets and geographical areas.
With a value of JD270 million, the leather and textile industries were the most significant sectors to increase over the course of the previous ten months, followed by food and supplies (JD164 million) and medical and medical supplies (JD77 million ), according to Al-Jaghbir.
He clarified that while exports of some other industrial sectors decreased as a result of price fluctuations and the fallout from Israeli aggression in the Gaza Strip and the events that followed, which directly impacted navigation in the Red Sea region, exports of the plastic, rubber, and engineering industries sectors totaled JD24 and JD16 million, respectively, during the ten months of last year.
It is noteworthy to know that the industrial sector creates 1,500 items valued at JD17 billion a year, while exporting roughly 1,400 items that are sold in 150 countries worldwide.
With 18,000 facilities including 16.2 thousand craft facilities and 1.8 thousand industrial facilities with an annual growth rate of 0.3 percent, the industrial sector boasts a wide variety of manufacturing facilities dispersed throughout the Kingdom.
By doubling the GDP and aiming to create 260,000 jobs by 2033, the Economic Modernization Vision has made the industrial sector its top priority. It also focuses on strategic and promising industries to gain a competitive edge and boost exports' contribution to the sector's overall growth.

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