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Jordan Economy 2017
https://theodora.com/wfbcurrent/jordan/jordan_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Jordan Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

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 and underemployment, budget and current account deficits, and government debt.King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as expanding foreign trade and privatizing state-owned companies that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil contributed to slower growth from 2010 to 2014 - with growth averaging 2.8% per year - and hurt export-oriented sectors, construction, and tourism. Through 2014, Jordan's finances were strained by a series of natural gas pipeline attacks in Egypt, disrupting natural gas exports to Jordan, and led Jordan to rely on more expensive diesel imports, primarily from Saudi Arabia, to generate electricity.To diversify its energy mix, Jordan has secured several contracts for liquefied natural gas and is currently exploring nuclear power generation, exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. In August 2015, Jordan completed a $2.1 billion, three-year IMF Stand-By Arrangement, which the government had entered to help correct budgetary and balance of payments imbalances. Jordan plans to expand on its fiscal reform measures enacted over the previous few years with a follow-on IMF agreement in 2016 to boost government revenues, reduce the budget deficit, and manage its burgeoning debt, brought on in part by an influx of over 650,000 Syrian refugees since 2011, which put additional pressure on expenditures.

GDP (purchasing power parity):
$86.19 billion (2016 est.) $83.89 billion (2015 est.) $81.93 billion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 89
[see also: GDP country ranks ]

GDP (official exchange rate):
$39.45 billion (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.8% (2016 est.) 2.4% (2015 est.) 3.1% (2014 est.)
country comparison to the world: 105
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,100 (2016 est.) $11,000 (2015 est.) $11,000 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 135
[see also: GDP - per capita country ranks ]

Gross national saving:
10.4% of GDP (2016 est.) 10.2% of GDP (2015 est.) 14.4% of GDP (2014 est.)
country comparison to the world: 152
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 81.1%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 19.8%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 22.6%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 3.1%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 32.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -59.3% (2016 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 4.2%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 29.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 66.2% (2016 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
citrus, tomatoes, cucumbers, olives, strawberries, stone fruits; sheep, poultry, dairy

Industries:
tourism, information technology, clothing, fertilizers, potash, phosphate mining, pharmaceuticals, petroleum refining, cement, inorganic chemicals, light manufacturing

Industrial production growth rate:
1.8% (2016 est.)
country comparison to the world: 115
[see also: Industrial production growth rate country ranks ]

Labor force:
2.205 million (2016 est.)
country comparison to the world: 121
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20%
[see also: Labor force - by occupation - industry country ranks ]
services: 78% (2013 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
14.8% (2016 est.) 13.1% (2015 est.)
note: official rate; unofficial rate is approximately 30%
country comparison to the world: 152
[see also: Unemployment rate country ranks ]

Population below poverty line:
14.2% (2002 est.)
[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.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
39.7 (2007) 36.4 (1997)
country comparison to the world: 64
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $8.649 billion
[see also: Budget revenues country ranks ]
expenditures: $11.22 billion (2016 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
21.9% of GDP (2016 est.)
country comparison to the world: 134
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-6.5% of GDP (2016 est.)
country comparison to the world: 181
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
90.6% of GDP (2016 est.) 85.5% of GDP (2015 est.)
note: data cover central government debt and include debt instruments issued (or owned) by government entities other than the treasury, and treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-government
country comparison to the world: 22
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
-0.8% (2016 est.) -0.9% (2015 est.)
country comparison to the world: 11
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.3% (31 December 2010) 4.75% (31 December 2009)
country comparison to the world: 131
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8% (31 December 2016 est.) 8.24% (31 December 2015 est.)
country comparison to the world: 107
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$14.68 billion (31 December 2016 est.) $13.92 billion (31 December 2015 est.)
country comparison to the world: 71
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$46.78 billion (31 December 2016 est.) $44.52 billion (31 December 2015 est.)
country comparison to the world: 69
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$41.95 billion (31 December 2016 est.) $39.57 billion (31 December 2015 est.)
country comparison to the world: 69
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$25.45 billion (31 December 2015 est.) $25.55 billion (31 December 2014 est.) $25.76 billion (31 December 2013 est.)
country comparison to the world: 63
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$3.566 billion (2016 est.) -$3.392 billion (2015 est.)
country comparison to the world: 164
[see also: Current account balance country ranks ]

Exports:
$7.124 billion (2016 est.) $7.829 billion (2015 est.)
country comparison to the world: 99
[see also: Exports country ranks ]

Exports - commodities:
textiles, fertilizers, potash, phosphates, vegetables, pharmaceuticals

Exports - partners:
US 21%, Saudi Arabia 16.5%, Iraq 10.3%, India 8.7%, UAE 4.8%, Kuwait 4.4% (2015)

Imports:
$17.86 billion (2016 est.) $18.04 billion (2015 est.)
country comparison to the world: 76
[see also: Imports country ranks ]

Imports - commodities:
crude oil, refined petroleum products, machinery, transport equipment, iron, cereals

Imports - partners:
Saudi Arabia 15.4%, China 12.8%, US 6.2%, Germany 4.7%, UAE 4.2% (2015)

Reserves of foreign exchange and gold:
$15.18 billion (31 December 2016 est.) $16.57 billion (31 December 2015 est.)
country comparison to the world: 63
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$26.66 billion (31 December 2016 est.) $25.16 billion (31 December 2015 est.)
country comparison to the world: 80
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$31.2 billion (31 December 2016 est.) $29.96 billion (31 December 2015 est.)
country comparison to the world: 69
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$629.3 million (31 December 2016 est.) $609.3 million (31 December 2015 est.)
country comparison to the world: 87
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Jordanian dinars (JOD) per US dollar - 0.71 (2016 est.) 0.71 (2015 est.) 0.71 (2014 est.) 0.71 (2013 est.) 0.709 (2012 est.)


NOTE: The information regarding Jordan on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Jordan Economy 2017 information contained here. All suggestions for corrections of any errors about Jordan Economy 2017 should be addressed to the CIA.




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