Jordan's industrial sector 'strong' contributor to national economy-JCI head

[09-01-2022 04:04 PM]

Ammon News - Jordan's industrial sector led the growth of the national economy in 2021, with its contribution of about 28% of the total GDP expansion, head of the Jordan Chamber of Industry (JCI), Fathi Jaghbir, said.

In a JCI statement on Sunday, Jaghbir noted the industrial sector has the capability to grow as a "key" economic player with "qualitative, strategic" contributions.

Over the past nine months 2021, the sector, he noted, achieved a growth of 2.9%, despite the Covid-19 pandemic's continuing consequences on its various activities.

This resilience confirms the sector's capability and flexibility in keeping pace with changes to continue the production process as the least-affected sector by the challenges and surrounding conditions, according to Jaghbir.

The industrial sector was "a pioneer" in economic growth, achieving a contribution of 0.60% percentage points (PPT), as a result of the manufacturing sector's contribution of 0.37% PPT to economic growth with a rate of 2.1%, and the extractive industries' contribution of 0.20% PPT as the sector that scored the highest growth rate at more than 10.1%, he noted.

Jaghbir also noted the industrial sector provides a balance of payments by about $9 billion annually, as revenues for its exports, which constitute about 92% of the total national exports.

Expressing optimism in the coming period for revival of the national economy, he stressed the need to support Jordan's industrial sector as the main leverage to meet the local market's needs and the "strongest" driver of development and sustainability, reflected in its capability to generate job opportunities and attract investments.

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