Tuesday, 02 January 2024 12:17 GMT

Industrial Exports Hit Decade High, Up 9.3% Over 11 Months


(MENAFN- Jordan News Agency)


Amman, Feb. 1 (Petra) -- The industrial exports rose 9.3% over the first 11 months of last year, reaching their highest level in more than a decade, underscoring the sector's growing weight in the national economy and its resilience amid regional and global headwinds.
According to a report by the Jordan Chamber of Industry, industrial exports climbed to JD 7.969 billion during the period, up from JD 7.292 billion a year earlier. The figures, obtained by the Jordan News Agency (Petra), point to a broad-based expansion driven by stronger external demand and a more diversified production base.
The report showed that industrial exports accounted for nearly 92% of Jordan's total exports, highlighting the sector's central role in supporting the trade balance and sustaining economic growth. Despite ongoing geopolitical and macroeconomic pressures, the industry maintained positive momentum, reinforcing its position as a key pillar of the economy.
This record performance reflects the depth and diversity of Jordan's manufacturing base. Export growth was supported by a wide range of products, including cement, chemical fertilizers, phosphate, raw potash, food products, chemicals, and jewelry. The mix underscores the ability of Jordanian manufacturers to compete on quality, reliability, and price across multiple markets.
Eight major industrial sectors acted as the primary drivers of export growth. Construction-related industries led the expansion, posting a 120% increase, largely on the back of rising demand for building and construction materials, particularly from the Syrian market. Engineering and electrical industries followed, with growth of 15.8%, while supply, food, and agricultural industries expanded by 14%. Mining grew 12.7%, and plastics and rubber products rose 8.9%.
On the market side, Arab countries remained the main destination for Jordanian industrial exports, absorbing 42% of the total. Syria topped Arab markets, with exports increasing by about JD 180 million, followed by Saudi Arabia, which recorded a JD 112 million rise.
Exports to European markets also accelerated, increasing by 45%, with notable gains in Italy, Netherlands, and Germany. Combined, exports to these markets rose by around JD 186 million, signaling progress in diversifying export destinations and strengthening penetration into non-traditional markets.
The Chamber said the results demonstrate the sustainability of Jordan's industrial export capacity in terms of product quality, diversification, and price competitiveness. It added that the sector has shown an ability to absorb growing demand in both Arab and European markets, supported by a clear strategy focused on opening new markets while consolidating positions in existing ones.
Beyond exports, the industrial sector remains a cornerstone of Jordan's economic growth, contributing to job creation, bolstering foreign currency reserves, and supporting overall economic stability.
The Chamber stressed that sustaining this trajectory will require continued coordination between the public and private sectors to improve the industrial investment environment and strengthen export support mechanisms, ensuring long-term competitiveness and durable growth.

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Jordan News Agency

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