AMMAN — The
Amman Chamber of Industry (ACI) said exports rose by 57 percent in the first
quarter of the year.
اضافة اعلان
Three sectors, namely mining, foodstuffs, and
engineering, had the lion share of the certificates of origin issued during that
period. The three sectors collectively contributed nearly 72 percent of the
growth.
The
unprecedented rise in exports underlines the ability of Jordanian industries to
overcome difficulties and competition in international markets, due to the high
quality of products.
This should
prompt more support for local manufacturers, to enable them to increase
production and expand businesses that generate more job opportunities,
according to ACI.
Some 1,400
various commodities produced in most regions of the Kingdom are exported to
more than 142 markets around the world.
ACI spokesperson
Mohammad Salahat told Jordan
News that, according to the
chamber’s statistical data, exports during the first quarter of this year
amounted to JD2.216 billion, while it stood at JD1.416 billion in the same
period of 2021.
According to
Salahat, potash chloride was the highest exported product, followed by
phosphate, diammonium phosphate, cement, and cement products, in addition to
calcium carbonate.
Economic and
investment specialist
Wajdi Makhamreh told Jordan News that the mining and chemicals sectors witnessed a big increase in exports. The
Russian-Ukrainian war contributed to the world moving away from these
traditional markets to import from other countries, like Jordan.
Makhamreh said
the increased exports will contribute to a rise in foreign currency and
eventually a growth in the domestic economy, which, in turn, will reflect on
employment.
According to
Makhamreh, economic growth this year is estimated at 2.5 to 3 percent, “which
is limited”.
Political
economy specialist
Zayyan Zawaneh said the rise in exports is normal after the
pandemic and the production levels are returning to normal.
“We noticed an
increase in demand for exports globally”, he said.
Zawaneh said
that the strong and rapid recovery that the world has been witnessing was
accompanied by problems, most notably absence of international trade, lack of
semiconductors, shipping containers, and high costs of shipping and insurance.
Zawaneh stressed
that these factors raised prices, and “we began to witness an accelerated rise
in inflation rates, which coincided with the Russian-Ukrainian crisis, which
negatively affected the world, as we witness countries resorting to
protectionist policies and stopping the export of many materials to the global
market”.
That, in turn, “led to
high interest rates, slowed the process of global economic recovery, and
lowered the expectations of economic growth, especially in emerging market
countries such as Jordan, and therefore it is difficult to see a state of
economic prosperity, whether globally or in Jordan”, he concluded.
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