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

Amman: 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 Jordan News Agency, 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 industries continued to show resil ience 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.