Amman Chamber of Industry Reports Stable Export Figures Despite Sectoral Variances
Amman Chamber of Industry: Analysis of Export Dynamics
The Landscape of Industrial Exports
In the last eight months of this year, the Amman Chamber of Industry reported exports totaling 4.739 billion dinars. The corresponding period in 2022 saw a slightly higher figure of 4.818 billion dinars. Although exports saw an increase for six industrial sectors, four others saw a decrease. The mining industries and wood and furniture sectors saw decreases of 9.4% and 15.6%, respectively.
Notably, India, the United States, Saudi Arabia, and Iraq were the leading importers of products from the Chamber in the specified duration, with the import value totaling 2.792 billion dinars. The exports to the US saw an increase to 783 million dinars from 656 million in the previous year, whereas Saudi Arabian imports increased to 551 million dinars from 487 million. Meanwhile, Iraq’s imports saw a rise from 383 million to 550 million dinars in comparison to the same period from the previous year.
A Look at Exports to India
Interestingly, despite the industry’s strong presence in the country, exports to India fell to 908 million dinars from 981 million dinars. As Indian is a key destination for Omani exports, this decrease stands in contrast to the overall export trend.
Geographical Distribution of Exports
The geographical distribution of the Chamber’s exports leans heavily towards Arab countries, with a total value of 2.010 billion dinars. Non-Arab Asian countries imported products valued at 1.406 billion dinars, and Africa at 40 million dinars. In the Western hemisphere, North American countries accounted for approximately 828 million dinars and South American countries 77 million dinars. The European Union imported products worth 187 million dinars, non-EU countries 102 million dinars, and other countries 89 million dinars.
The Chamber’s exports were further distributed among sectors: mining industry (1.470 billion dinars), chemicals and cosmetics (902 million dinars), and engineering, electrical and IT (659 million dinars). Other significant sectors included food, agriculture and livestock (508 million dinars), medical supplies and treatment (411 million dinars), leather and livestock (320 million dinars), packaging, paper, cardboard and office supplies (201 million dinars), plastic and rubber (159 million dinars), construction (99 million dinars) and wood and furniture industries (11 million dinars).
About the Chamber
The Amman Chamber of Industry, having been established in 1962, houses 8600 industrial enterprises that together employ 159 thousand workers. The collective capital of these enterprises is approximately 5 billion dinars.
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