Industrial Output Sees Modest Growth in 2024, Powered by Extractive and Energy Sectors

Jordan's industrial production index has seen modest growth so far in 2024, climbing to 87.36 points by the end of August, a slight increase of 0.11% from 87.26 points during the same period in 2023. The performance was driven by strong gains in the extractive industries and electricity production, despite a dip in manufacturing output. According to the latest report from the Department of Statistics, the extractive industries surged by 8.45% and electricity output grew by 6.02%, helping to offset a 0.73% decline in manufacturing. The report highlighted that in August alone, the industrial index rose by 1.31%, reaching 90.89 points, compared to 89.71 points in August 2023. This increase was largely fueled by a 12.91% rise in the extractive industries and a 0.80% uptick in manufacturing. However, electricity output fell by 0.82% over the same period. On a month-over-month basis, the industrial index edged up by 0.19% in August 2024, compared to July, moving from 90.72 to 90.89 points. The extractive indust ries continued to show resilience with a 4.48% increase, while manufacturing recorded a marginal 0.11% rise. The electricity sector, however, registered a 2.41% decline in output. These figures reflect a mixed performance within Jordan's industrial sectors, with extractive industries playing a key role in driving overall growth amid challenges in manufacturing and energy production. Source: Jordan News Agency