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Ammon News - The industrial sector's export value for the first 10 months of 2023 reached JD6.489 billion, representing approximately 94 percent of the total national exports.

As per official figures released by the Department of Statistics, the total national exports for the same period amounted to JD6.910 billion, while imports stood at JD15.606 billion.

Statistics from the Jordan Chamber of Industry indicated that the coverage rate of industrial exports in relation to imports during the first 10 months of the previous year was 41.6 percent.

Six industrial sectors experienced an increase in exports during this period, with growth ranging from 6.6 percent for the packaging, paper, and cardboard sector to an impressive 86.9 percent for the wood and furniture industries. Conversely, exports from four sectors declined during this period, with decreases ranging from 2.3 percent for the chemical and cosmetics industries sector to 31.2 percent for the mining industries.

Key exported products included clothing and related accessories, potash, phosphate, fertilizers, jewelry, pharmaceutical preparations, inorganic chemical products, soap and detergents, and machinery and devices.

In terms of geographical distribution, the United States topped the list with exports valued at JD1.631 billion, followed by India at JD1.046 billion, Saudi Arabia at JD842 million, Iraq at JD504 million, and the United Arab Emirates at JD265 million.

The industrial sector boasts a diverse array of production facilities throughout the Kingdom, totaling 18 thousand establishments, including 16.2 thousand craftsmen and 1.8 thousand industrial ones. The annual growth rate in the number of establishments has averaged 0.3 percent over the past decade.

Moreover, the sector exhibits significant commodity diversification, producing 1,500 goods across various sub-industrial sectors, including wood, furniture, plastic, rubber, engineering, electrical, information technology, chemicals, cosmetics, therapeutics, medical supplies, leather, textiles, food, catering, packaging, construction, and mining.

With a total annual production value of $25 billion and a value-added percentage of 46 percent, the industrial sector holds substantial production capabilities and high added value. It commands a 45 percent share in the local market.

It's noteworthy that the Economic Modernization Vision places the industrial sector as a top priority, aiming to double the Gross Domestic Product by 2033, providing 260,000 job opportunities. The focus is on strategic and promising industrial sectors to achieve a competitive advantage and increase the contribution of exports to overall growth within the sector, ranging from 35 to 65 percent. Petra