Industrial sector grows by 4.4% in 2024 – Jaghbir

AMMAN — The industrial sector achieved a “real” growth of 4.4 per cent during the past year compared to 2023, with contribution of 40 per cent to the total economic growth realised in the Kingdom.

President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said in a statement on Monday that the “industrial sector has proven its solid position as a key driver of economic growth in the Kingdom, despite regional changes and unprecedented global economic pressures.”

He added that industry has become the backbone of the national economy, as it is the main pillar in the Economic Modernisation Vision.

Jaghbir said that the growth was driven by positive developments and noticeable growth across various industrial sectors, with the mining sector recording a growth of 5.5per cent, the manufacturing sector 4.2 per cent, and the electricity and water sector 4.8 per cent.

He also said that the industrial output at current prices reached JD8.6 billion during 2024, accounting for 23 per cent of the gross domestic product (GDP) directly, making it the highest-contributing economic sector to the national economy as a whole.

He expressed hope that the current year will bring further progress and prosperity for Jordanian industry, especially with the government's focus on the optimal implementation of all initiatives under EMV and enhancing its competitiveness. 

Jaghbir also pointed out that the industry's contribution to the GDP was supported by a 1.4 per cent growth in industrial exports last year compared to 2023, with their total value exceeding JD7.8 billion, making up around 92 per cent of total national exports.