AMMAN — Jordan’s industrial exports during the first half (H1) of 2023 recorded a growth of some 2 per cent, reaching JD4 billion, compared with JD3.9 billion for the same period last year, driven by their quality and competitiveness in global markets, according to President of the Jordan Chamber of Industry (JCI) Fathi Jaghbir.
Speaking to the Jordan News Agency, Petra, Jaghbir said industrial exports have grown by more than 72 per cent over the past three years.
He noted that Jordan’s total export coverage ratio to imports in the first half of 2023 reached 50 per cent for the first time in two decades.
Jaghbir added that the growth in industrial exports was due to their expansion into several global markets, led by Saudi Arabia, which grew by more than 15.6 per cent, in addition to Spain and Canada, and its access to many new, non-traditional markets, primarily Finland, Bulgaria, Nepal and Bosnia and Herzegovina.
The JCI president pointed out that exports of various industrial products recorded growth, which reflects positive performance of many industrial activities, primarily the jewellery sector by 91 per cent, various chemical products by 18.6 per cent and other national industries.
The industrial sector, whose exports in the first half of 2023 constituted 96 per cent of total national exports, is considered one of the Kingdom’s largest productive sectors, he pointed out.
Jaghbir said that the sector’s annual production capacities amount to JD18 billion, creating an added value of almost 46 per cent of the total volume of production.
He added that the industrial sector has achieved multiple positive results since the beginning of 2023, leading the economic growth and contributing to some 25 per cent of the growth of GDP during the first quarter of 2023.
Jaghbir added that the industrial sector contributed the most to GDP in the first quarter of 2023, with a share of 21.2 per cent. It also achieved a growth rate of 3.3 per cent, compared with the same period last year.
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