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Jordan Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Jordan Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 20, 2014

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 and 2012, the government approved two economic relief packages and a budgetary supplement, meant 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 diesel imports, primarily from Saudi Arabia, to generate electricity. Jordan is currently exploring nuclear power generation in addition to the exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. In 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. In 2013, Jordan depended heavily on foreign assistance to finance the budget deficit, as the influx of about 600,000 Syrian refugees put additional pressure on expenditures.

GDP (purchasing power parity):
$40.02 billion (2013 est.)
country comparison to the world: 105

$38.76 billion (2012 est.)
$37.71 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$34.08 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.3% (2013 est.)
country comparison to the world: 106

2.8% (2012 est.)
2.6% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$6,100 (2013 est.)
country comparison to the world: 151

$6,100 (2012 est.)
$6,000 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
29.1% of GDP (2013 est.)
country comparison to the world: 30

24.7% of GDP (2012 est.)
28.5% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 73.1%
government consumption: 21%
investment in fixed capital: 26.2%
investment in inventories: 17%
exports of goods and services: 44.1%
imports of goods and services: -81.4%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 3.2%
industry: 29.9%
services: 67% (2013 est.)

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:
2.8% (2013 est.)
country comparison to the world: 109
[see also: Industrial production growth rate country ranks ]

Labor force:
1.898 million (2013 est.)
country comparison to the world: 123
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.7%
industry: 20%
services: 77.4% (2007 est.)

Unemployment rate:
14% (2013 est.)
country comparison to the world: 133

12.5% (2012 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%
highest 10%: 28.7% (2010 est.)

Distribution of family income - Gini index:
39.7 (2007)
country comparison to the world: 60

36.4 (1997)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $6.868 billion
expenditures: $10.71 billion (2013 est.)

Taxes and other revenues:
20.2% of GDP (2013 est.)
country comparison to the world: 164
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-11.3% of GDP (2013 est.)
country comparison to the world: 207
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
79.1% of GDP (2013 est.)
country comparison to the world: 28

75.5% of GDP (2012 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 ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5.9% (2013 est.)
country comparison to the world: 170

4.8% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
0.3% (31 December 2010 est.)

$NA (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.9% (31 December 2013 est.)
country comparison to the world: 98

8.95% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$10.68 billion (31 December 2013 est.)
country comparison to the world: 75

$10.17 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$37.19 billion (31 December 2013 est.)
country comparison to the world: 73

$35.18 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$38.3 billion (31 December 2013 est.)
country comparison to the world: 64

$35.39 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$27 billion (31 December 2012 est.)
country comparison to the world: 54

$27.18 billion (31 December 2011)
$30.86 billion (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$4.766 billion (2013 est.)
country comparison to the world: 166

-$5.37 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$7.914 billion (2013 est.)
country comparison to the world: 101

$7.898 billion (2012 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 16.6%, Iraq 15.1%, Saudi Arabia 11%, India 10.5%, Indonesia 4.2% (2012)

Imports:
$18.61 billion (2013 est.)
country comparison to the world: 79

$18.46 billion (2012 est.)
[see also: Imports country ranks ]

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

Imports - partners:
Saudi Arabia 23.6%, China 9.4%, US 6.7%, Italy 4.7%, Turkey 4.6% (2012)

Reserves of foreign exchange and gold:
$11.83 billion (31 December 2013 est.)
country comparison to the world: 71

$8.829 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$22.04 billion (31 December 2013 est.)
country comparison to the world: 80

$19.67 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$26.69 billion (31 December 2013 est.)
country comparison to the world: 65

$24.78 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$549 million (31 December 2013 est.)
country comparison to the world: 79

$509 million (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Jordanian dinars (JOD) per US dollar -

0.709 (2013 est.)
0.709 (2012 est.)
0.71 (2010 est.)
0.709 (2009)
0.709 (2008)


NOTE: 1) The information regarding Jordan on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Jordan Economy 2015 information contained here. All suggestions for corrections of any errors about Jordan Economy 2015 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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