| Economy | Jordan |
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Economy - overview:
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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 pipline attacks in Egypt, causing Jordan to substitute more expensive heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countires, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at nearly 10% of GDP 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):
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$36.82 billion (2011 est.)
$36.01 billion (2010 est.)
$35.19 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$5,900 (2011 est.)
$5,900 (2010 est.)
$5,900 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
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$28.4 billion (2011 est.) |
GDP - real growth rate:
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2.5% (2011 est.)
2.3% (2010 est.)
5.5% (2009 est.) |
GDP - composition by sector:
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agriculture: 4.4%
industry: 30.3%
services: 65.2% (2011 est.) |
Investment (gross fixed):
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25.9% of GDP (2011 est.) |
Population below poverty line:
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14.2% (2002) |
Household income or consumption by percentage share:
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lowest 10%: 3%
highest 10%: 30.7% (2006) |
Distribution of family income - Gini index:
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39.7 (2007)
36.4 (1997) |
Inflation rate (consumer prices):
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6.4% (2011 est.)
5% (2010 est.) |
Central bank discount rate:
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0.3% (31 December 2010 est.)
4.75% (31 December 2009 est.) |
Commercial bank prime lending rate:
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9% (31 December 2011 est.)
8.9% (31 December 2010 est.) |
Stock of money:
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$7.781 billion (31 December 2008)
$6.765 billion (31 December 2007) |
Stock of money - per capita:
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1,196 USD per capita |
Stock of quasi money:
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$19.04 billion (31 December 2008)
$15.38 billion (31 December 2007) |
Stock of quasi money - per capita:
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2,926 USD per capita |
Stock of domestic credit:
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$28.73 billion (31 December 2011 est.)
$26.72 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
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4,415 USD per capita |
Stock of narrow money:
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$10.09 billion (31 December 2011 est.)
$9.238 billion (31 December 2010 est.) |
Stock of broad money:
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$34.86 billion (31 December 2011 est.)
$35.53 billion (31 December 2010 est.) |
Labor force:
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1.771 million (2011 est.) |
Labor force participation rate:
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27.21 % of population |
Labor force - by occupation:
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agriculture: 2.7%
industry: 20%
services: 77.4% (2007 est.) |
Unemployment rate:
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12.3% (2011 est.)
12.5% (2010 est.)
note: official rate; unofficial rate is approximately 30% |
Unemployment, youth ages 15-24:
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total: 27%
male: 22.6%
female: 45.9% (2009) |
Budget:
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revenues: $6.249 billion
expenditures: $9.197 billion (2011 est.) |
Budget revenues per capita:
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961 USD per capita |
Taxes and other revenues:
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22% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-10.4% of GDP (2011 est.) |
Public debt:
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60.7% of GDP (2011 est.)
61.2% of GDP (2010 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 |
Industries:
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clothing, fertilizers, potash, phosphate mining, pharmaceuticals, petroleum refining, cement, inorganic chemicals, light manufacturing, tourism |
Industrial production growth rate:
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1% (2011 est.) |
Electricity - production:
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13.01 billion kWh (2008 est.) |
Electricity - production per capita:
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1,999 kWh per capita |
Electricity - consumption:
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11.3 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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1,737 kWh per capita |
Electricity - exports:
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323 million kWh (2008 est.) |
Electricity - imports:
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224 million kWh (2008 est.) |
Oil - production:
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87.77 bbl/day (2010 est.) |
Oil - production per capita:
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14 bbl/day per capita |
Oil - consumption:
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98,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
5.50 bbl/year per capita |
Oil - exports:
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0 bbl/day (2009 est.) |
Oil - imports:
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111,700 bbl/day (2009 est.) |
Oil - proved reserves:
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1 million bbl (1 January 2011 est.) |
Natural gas - production:
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250 million cu m (2009 est.) |
Natural gas - production per capita:
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39 cu m per capita |
Natural gas - consumption:
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3.1 billion cu m (2009 est.) |
Natural gas - consumption - per capita:
|
477 cu m per capita |
Natural gas - exports:
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0 cu m (2009 est.) |
Natural gas - imports:
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2.85 billion cu m (2009 est.) |
Natural gas - proved reserves:
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6.031 billion cu m (1 January 2011 est.) |
Agriculture - products:
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citrus, tomatoes, cucumbers, olives, strawberries, stone fruits; sheep, poultry, dairy |
Current account balance:
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-$1.316 billion (2011 est.)
-$974.5 million (2010 est.) |
Current account balance - per capita:
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-202 USD per capita |
Exports:
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$8.066 billion (2011 est.)
$7.333 billion (2010 est.) |
Exports per capita:
|
1,240 USD per capita |
Exports - commodities:
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clothing, fertilizers, potash, phosphates, vegetables, pharmaceuticals |
Exports - partners:
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US 15.6%, Iraq 15.4%, India 13.2%, Saudi Arabia 10.6%, UAE 4.3%, Syria 4% (2010) |
Imports:
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$14.01 billion (2011 est.)
$12.97 billion (2010 est.) |
Imports per capita:
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2,153 USD per capita |
Imports - commodities:
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crude oil, machinery, transport equipment, iron, cereals |
Imports - partners:
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Saudi Arabia 19.8%, China 10.8%, Germany 6.1%, US 5.6%, Egypt 4.5%, South Korea 4.2% (2010) |
Reserves of foreign exchange and gold:
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$12.65 billion (31 December 2011 est.)
$13.65 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
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1,944 USD per capita |
Debt - external:
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$7.296 billion (31 December 2011 est.)
$7.301 billion (31 December 2010 est.) |
Debt - external - per capita:
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1,122 USD per capita |
Stock of direct foreign investment - at home:
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$22.56 billion (31 December 2011 est.)
$20.67 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
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3,467 USD per capita |
Stock of direct foreign investment - abroad:
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$NA |
Stock of direct foreign investment - abroad - per capita:
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void |
Market value of publicly traded shares:
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$30.86 billion (31 December 2010)
$31.86 billion (31 December 2009)
$35.85 billion (31 December 2008) |
Market value of publicly traded shares - per capita:
|
4,742 USD per capita |
Currency (code):
|
Jordanian dinar (JOD) |
Exchange rates:
|
Jordanian dinars (JOD) per US dollar -
0.709 (2011 est.)
0.709 (2010 est.)
0.709 (2009)
0.709 (2008)
0.709 (2007) |
Fiscal year:
|
calendar year |
|
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