Jordan Economy - 2024

Economic overview

low growth, upper middle-income Middle Eastern economy; high debt and unemployment, especially for youth and women; key US foreign assistance recipient; natural resource-poor and import-reliant

Real GDP (purchasing power parity)

$102.822 billion (2021 est.)
$100.581 billion (2020 est.)
$102.185 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

2.23% (2021 est.)
-1.57% (2020 est.)
1.93% (2019 est.)

Real GDP per capita

$9,200 (2021 est.)
$9,200 (2020 est.)
$9,600 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$44.568 billion (2019 est.)

Inflation rate (consumer prices)

1.35% (2021 est.)
0.33% (2020 est.)
0.76% (2019 est.)

Credit ratings

Fitch rating: BB- (2019)

Moody's rating: B1 (2013)

Standard & Poors rating: B+ (2017)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 4.5% (2017 est.)

industry: 28.8% (2017 est.)

services: 66.6% (2017 est.)

GDP - composition, by end use

household consumption: 80.5% (2017 est.)

government consumption: 19.8% (2017 est.)

investment in fixed capital: 22.8% (2017 est.)

investment in inventories: 0.7% (2017 est.)

exports of goods and services: 34.2% (2017 est.)

imports of goods and services: -58% (2017 est.)

Agricultural products

tomatoes, poultry, olives, milk, potatoes, cucumbers, vegetables, watermelons, green chillies/peppers, peaches/nectarines

Industries

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

Industrial production growth rate

3.02% (2021 est.)

Labor force

2.865 million (2021 est.)

Unemployment rate

19.25% (2021 est.)
19.03% (2020 est.)
16.81% (2019 est.)

note: official rate; unofficial rate is approximately 30%

Youth unemployment rate (ages 15-24)

total: 40.5% (2021 est.)

male: 37.4%

female: 53.8%

Population below poverty line

15.7% (2018 est.)

Gini Index coefficient - distribution of family income

33.7 (2010 est.)

Average household expenditures

on food: 29.6% of household expenditures (2018 est.)

on alcohol and tobacco: 4.6% of household expenditures (2018 est.)

Household income or consumption by percentage share

lowest 10%: 3.4%

highest 10%: 28.7% (2010 est.)

Remittances

11.29% of GDP (2021 est.)
11.05% of GDP (2020 est.)
10.34% of GDP (2019 est.)

Budget

revenues: $10.813 billion (2019 est.)

expenditures: $13.489 billion (2019 est.)

Budget surplus (+) or deficit (-)

-5.1% (of GDP) (2017 est.)

Public debt

75.14% of GDP (2020 est.)
78.48% of GDP (2019 est.)
75.38% of GDP (2017 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 intragovernmental debt; intragovernmental 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

Taxes and other revenues

15.81% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$4.03 billion (2021 est.)
-$2.506 billion (2020 est.)
-$773.366 million (2019 est.)

Exports

$13.864 billion (2021 est.) note: data are in current year dollars
$10.444 billion (2020 est.) note: data are in current year dollars
$16.17 billion (2019 est.)

Exports - partners

United States 26%, India 13%, Saudi Arabia 11%, Iraq 5%, China 4% (2021)

Exports - commodities

fertilizers, clothing and apparel, calcium phosphates, phosphoric acid, packaged medicines (2021)

Imports

$23.392 billion (2021 est.) note: data are in current year dollars
$18.424 billion (2020 est.) note: data are in current year dollars
$21.964 billion (2019 est.)

Imports - partners

China 17%, Saudi Arabia 14%, United Arab Emirates 11%, United States 5%, Turkey 3% (2021)

Imports - commodities

cars, refined petroleum, gold, crude petroleum, clothing and apparel, broadcasting equipment, packaged medicines (2021)

Reserves of foreign exchange and gold

$15.56 billion (31 December 2017 est.)
$15.54 billion (31 December 2016 est.)

Debt - external

$32.088 billion (2019 est.)
$29.916 billion (2018 est.)

Exchange rates

Jordanian dinars (JOD) per US dollar -

Exchange rates:
0.71 (2021 est.)
0.71 (2020 est.)
0.71 (2019 est.)
0.71 (2018 est.)
0.71 (2017 est.)