Jordan's industrial exports at JD4bln in first half 2023

23-09-2023 09:23 AM

Ammon News - During the first half of 2023, Jordan's industrial exports recorded a growth of nearly 2%, reaching JD4 billion, compared to JD3.9 billion for the same period last year, driven by their quality and competitiveness in global markets.

In a statement to "Petra," Head of the Jordan Chamber of Industry (JCI), Fathi Jaghbir, said industrial exports achieved growth by more than 72% during the past three years.

Meanwhile, he noted coverage of the Kingdom’s exports to imports in the first half of 2023 reached 50% for the first time in two decades.

Jaghbir stated that the growth in industrial exports was due to their expansion into multiple global markets, led by Saudi Arabia, which grew by more 15.6%, in addition to Spain and Canada, and its access to many new, non-traditional markets, primarily Finland, Bulgaria, Nepal, and Bosnia and Herzegovina.

He noted exports of multiple industrial products recorded growth that reflects depth of the "positive" performance of many industrial activities and development of their capabilities, primarily was the jewelery sector by 91%, various chemical products by 18.6% and other national industries.

The industrial sector, whose exports in the first half of 2023 constituted 96% of total national exports, is viewed one of the Kingdom's largest productive sectors, he pointed out.

This sector, he said, has production capacities amounting to JD18 billion annually, creating an added value amounting to approximately 46% of the total volume of production.

The sector, he noted, achieved multiple positive results since the beginning of 2023, by leading the wheel of economic growth and contributing to a quarter of the growth of the gross domestic product during the first quarter of 2023.

Jaghbir added that this sector also had the largest weight in the gross domestic product at a rate of 21.2% in Q1 2023, thus achieving a growth rate of 3.3%, compared to the same period last year.

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