Added value of Arab industry rises 34 percent in 2000
The added value of the Arab world’s industrial sector, or its net output, has reached $254.9 billion in the year 2000, according to an economic report prepared by the Arab Monetary Fund, OPEC and the Arab Social and Economic Development Fund. This constitutes a 34 percent rise from 1999, when the region’s industrial added value stood at $190.5 billion.
The added value of the Arab mining industries jumped from $119.2 billion in 1999 to $179.3 billion in 2000. The added value of the manufacturing industries during the same period grew from $71.3 billion to $75.6 billion.
The report also showed that per worker productivity in the Arab world grow by 31 percent in 2000. In 1999, worker productivity stood at $11,900, while in the following year the figure jumped to $15,600. Despite this increase, however, average worker productivity in the Arab world remains low compared with industrialized nations worldwide. — (MENA Report)
© 2001 Mena Report (www.menareport.com)