Amman: The Jordan Chamber of Industry has announced that the wood and furniture industries have become a pivotal sector in the nation's economy, achieving significant growth over the past five years with exports now reaching 71 countries.

According to Jordan News Agency, the sector comprises 1,726 industrial facilities with investments totaling approximately JD294 million, creating over 8,000 direct jobs. The annual production volume has reached about JD350 million, accounting for 3 percent of the total manufacturing industry's current production. The added value of the sector stands at about 40 percent of total production from 2014 to 2024, highlighting its importance in bolstering the national economy and local production chains.

The local market for the wood and furniture industry is valued at approximately JD500 million, with JD286 million allocated for local consumption, representing 57 percent of the total market. The industry produces a wide array of products, including home, office, and hotel furniture, doors, windows, and supporting wood products, as well as packaging and storage items like wooden pallets and boxes.

Exports from the sector reached approximately JD38 million last year, with a compound growth rate of 13 percent over the last five years. Saudi Arabia is the top importer, accounting for about JD22 million or 57.9 percent of exports, followed by Iraq with 13.7 percent, while Kuwait and Palestine each constitute about 3 percent.

The World Trade Organization data indicates untapped export opportunities worth approximately $21 million, with about $13 million targetable in the US market, specifically in upholstered seating products with wooden frames and bedroom furniture. This suggests a substantial potential for enhancing the competitiveness of Jordanian exports in high-demand markets.

The Chamber emphasized the sector's capability to boost national products' presence in both local and international markets, contingent upon enhancing competitiveness and overcoming existing obstacles.