Industry contributes half of Jordan’s Q1 economic growth-Jaghbir

The Kingdom's industrial sector contributed half of the Kingdom's economic growth, which was achieved during the first quarter of the current year, Head of Jordanian and Amman Chambers of Industry, Fathi Jaghbir, said. In a statement to "Petra" Saturday, Jaghbir noted this achievement made the Kingdom's industries top economic sectors, contributing to Jordan's economic growth of 2%, according to an analysis of the GDP data issued by the Department of Statistics (DoS) 2024. Jaghbir added that this expansion indicates that the Kingdom's industrial sector continues to "surmount" traditional borders, recording a growth rate of 4.3%, despite multiple external influences and factors, primarily regional events, Israeli aggression on Gaza Strip and its consequences on supply chains, weak demand, and price fluctuations. Jaghbir stated that the sector's "positive" performance was accompanied by a recovery in exports of clothing and drugs, and an improvement in demand for some products, especially food, which was ref lected in the rise in the General Industrial Production Index by 1.1% during the same period. Jaghbir noted Jordanian industry's expansion was driven by growth of the three main industrial sectors, the extractive industries sector, which achieved the "highest" growth rate, compared to other economic sectors during the first quarter of this year at a rate of 6.3%, thus bringing its contribution to growth of the gross domestic product (GDP) to 9.1%. Meanwhile, he stated that the manufacturing sector achieved a growth of 3.9%, which is the "highest" contribution to GDP growth, compared to other economic sectors, which reached 32.9%, followed by the electricity and water sector with a 4.9% growth rate with a contribution of 3.3%. Source: Jordan News Agency