Page last updated on February 20, 2013
Economy - overview:
Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan's GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 the government approved two economic relief packages and a budgetary supplement, largely to improve the living conditions for the middle and poor classes. Jordan's finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at more than 11% of GDP in 2012 excluding grants. Amman likely will continue to depend heavily on foreign assistance to finance the deficit in 2012. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation to forestall energy shortfalls.
GDP (purchasing power parity):
$38.67 billion (2012 est.)
country comparison to the world: 105
$37.54 billion (2011 est.)
$36.59 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$31.35 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
3% (2012 est.)
country comparison to the world: 107
2.6% (2011 est.)
2.3% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$6,000 (2012 est.)
country comparison to the world: 144
$6,000 (2011 est.)
$6,000 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 4.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
30.9%
services:
64.6% (2012 est.)
Labor force:
1.824 million (2012 est.)
country comparison to the world: 124
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 2.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
20%
services:
77.4% (2007 est.)
Unemployment rate:
12.3% (2012 est.)
country comparison to the world: 129
12.3% (2011 est.)
note:
official rate; unofficial rate is approximately 30%
[see also:
Unemployment rate country ranks ]
Population below poverty line:
14.2% (2002)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 3.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
28.7% (2010 est.)
Distribution of family income - Gini index:
39.7 (2007)
country comparison to the world: 61
36.4 (1997)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
28.9% of GDP (2012 est.)
country comparison to the world: 22
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $6.372 billion
[see also: Budget revenues country ranks ]
expenditures:
$9.953 billion (2012 est.)
Taxes and other revenues:
20.3% of GDP (2012 est.)
country comparison to the world: 159
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-11.4% of GDP (2012 est.)
country comparison to the world: 206
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
59.1% of GDP (2012 est.)
country comparison to the world: 49
57.5% of GDP (2011 est.)
note:
data cover central government debt, and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
4.3% (2012 est.)
country comparison to the world: 121
4.4% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
0.3% (31 December 2010 est.)
country comparison to the world: 76
4.75% (31 December 2009 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
8.5% (31 December 2012 est.)
country comparison to the world: 110
8.67% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$11.15 billion (31 December 2012 est.)
country comparison to the world: 76
$10.26 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$38.61 billion (31 December 2012 est.)
country comparison to the world: 73
$34.02 billion (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$33.27 billion (31 December 2012 est.)
country comparison to the world: 70
$30.8 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$27.18 billion (31 December 2011)
country comparison to the world: 58
$30.86 billion (31 December 2010)
$31.86 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
Agriculture - products:
citrus, tomatoes, cucumbers, olives, strawberries, stone fruits; sheep, poultry, dairy
Industries:
clothing, fertilizers, potash, phosphate mining, pharmaceuticals, petroleum refining, cement, inorganic chemicals, light manufacturing, tourism
Industrial production growth rate:
1% (2011 est.)
country comparison to the world: 139
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$3.359 billion (2012 est.)
country comparison to the world: 151
