Amman:The industrial sector in Jordan experienced a growth of 4.6% in the second quarter, contributing approximately 40% to the country's economic growth, as reported by the Jordan Chamber of Industry.
According to Jordan News Agency, the chamber highlighted that manufacturing grew by 6.2% compared to the same period last year, marking its highest quarterly growth rate since 2008. This manufacturing growth rate was more than double the national economy's overall growth of 3% in the second quarter. Manufacturing led all economic activities in terms of contribution to growth, adding 1.04 percentage points, or about 35% of the total growth.
The chamber emphasized that the industry not only benefited from improved economic activity but also played a crucial role in driving economic expansion. The industrial sector's performance significantly contributed to the second-quarter growth, alongside an increase in the value generated by the sector's activities.
Manufacturing maintained its position as the largest economic activity in Jordan€š¬…¡¬‚¬¦¡¬€š¬…¡¬‚¬¦¾¢s gross domestic product at constant prices, with a 17.2% share. The chamber noted that this underscores the substantial role of the industrial production base in the national economy.
The chamber pointed out that manufacturing's highest quarterly growth since 2008, coupled with overall industrial sector growth, indicates strong momentum. This momentum is crucial for achieving the goals of the Economic Modernization Vision, which identifies industry as a central component.
Despite regional challenges such as pressures on trade, transportation, and supply chains, the chamber noted that the results demonstrate the resilience of Jordanian industry to sustain production and expansion amid external changes. The positive production performance coincided with ongoing growth in industrial exports, reflecting the sector's ability to leverage higher production for a stronger presence in international markets, thus supporting economic growth, foreign trade, and foreign currency generation.
The chamber further highlighted the industrial sector's broader economic impact through its extensive connections with transportation, trade, energy, services, and logistics, as well as its role in employment, investment, and value creation. This amplifies the impact of any growth within the sector on overall economic activity.
To sustain this growth, the chamber called for the faster implementation of initiatives and projects related to the industrial sector, enhanced competitiveness of national products, and increased incentives for industrial and export investments. It also urged continued efforts to address energy, transport, and production costs and the provision of necessary financing tools for expansion and investment.