The industrial sector propelled economic growth in the first quarter of 2022 – Jordan Chamber of Industry

AMMAN — The industrial sector was the engine of economic growth in the first quarter of 2022, contributing 0.71 percentage points to the Kingdom’s “real” economic growth of 2.5%, more than a third of the growth achieved.

The industrial sector ranked first among economic sectors, in terms of contribution to GDP growth, Jordanian news agency Petra reported.

The head of the Jordanian Chamber of Industry (JCI), Fathi Jaghbir, said on Wednesday that the key role of the industrial sector in economic growth was driven by the expansion of the manufacturing sector by almost 3.3%, contributing to 0.55 percentage point to total economic growth.

The extractive industry sector increased by 5.1%, while the electricity and water sectors increased by 2.7%, contributing 0.12 and 0.04 percentage points respectively. he noted.

The industrial sector contributes 43.2% to the GDP, he said, adding that each dinar spent in the industrial sector directly and indirectly contributes 2.16 JD to the national economy, citing a study shared by the Central Bank of Jordan (CBJ).

He also noted that industrial exports in the first quarter of 2022 increased by more than 44 percent, reaching JD 1.75 billion, registering the highest value for the past decade.