Amman, Oct. 1 (Petra) — The industrial sector grew 4.6 percent in
the second quarter and contributed about 40 percent of the Kingdom’s
economic growth, the Jordan Chamber of Industry said in a statement
Thursday.

The chamber said manufacturing grew 6.2 percent from the same period
last year. This is its highest quarterly growth rate since 2008.
Manufacturing growth was more than double the national economy’s 3
percent growth in the second quarter, the chamber noted.
Manufacturing led all economic activities in contribution to growth,
adding 1.04 percentage points, or about 35 percent of total growth.

The chamber stressed that industry was not only a beneficiary of
improved economic activity but also a key contributor. It said
industrial performance drove a significant part of second-quarter
growth, along with an expansion in the value generated by the
sector’s activities.

Manufacturing remained the largest economic activity in gross
domestic product at constant prices, with a 17.2 percent share. The
chamber said this highlights the weight of the industrial production
base in the national economy.

It said manufacturing’s highest quarterly growth since 2008,
alongside growth across the industrial sector, is an important
indicator of momentum. It added that this strengthens the sector’s
ability to help achieve the goals of the Economic Modernization
Vision, of which industry is a main pillar.

The chamber noted that the results are particularly significant given
the regional conditions and challenges in recent months, including
pressures on trade, transportation, and supply chains, which it said
demonstrate the resilience of Jordanian industry and its ability to
maintain production and expansion amid external changes.

The positive production performance has also coincided with continued
growth in industrial exports during the year, reflecting the sector’s
ability to translate higher production into a stronger presence in
international markets and support economic growth, foreign trade and
foreign currency generation, the chamber added.

The chamber highlighted industry’s broader economic impact through
its extensive links with transportation, trade, energy, services and
logistics, as well as its role in employment, investment and value
creation. This multiplies the impact of any growth in the sector on
overall economic activity, it said.

The chamber underscored the importance of building on this
performance and turning the current momentum into sustainable growth.
It called for faster implementation of initiatives and projects tied
to the industrial sector, stronger competitiveness of national
products and more incentives for industrial and export investments.
It also urged continued work on energy, transport and production
costs, and the provision of financing tools needed for expansion and
investment.

//Petra// NQ