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Jordan Economy 2010
http://www.workmall.com/wfb2010/jordan/jordan_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Page last updated on January 26, 2010

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 Abdullah has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating most fuel subsidies, which in the past few years have spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown, however, has depressed Jordan's GDP growth and foreign assistance to the government in 2009 plummeted, hampering the government's efforts to reign in the large budget deficit. Export-oriented sectors such as manufacturing, mining, and the transport of re-exports have been hit the hardest. Amman is considering sweeping tax cuts to attract foreign investment and stimulate domestic growth, and the government has guaranteed bank deposits through 2010. 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):
$33.06 billion (2009 est.)

$32.06 billion (2008 est.)
$30.36 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$22.56 billion (2009 est.)

GDP - real growth rate:
3.1% (2009 est.)

5.6% (2008 est.)
6.6% (2007 est.)

GDP - per capita (PPP):
$5,300 (2009 est.)

$5,200 (2008 est.)
$5,100 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 3.7%
industry: 29.9%
services: 66.5% (2009 est.)

Labor force:
1.667 million (2009 est.)

Labor force - by occupation:
agriculture: 2.7%
industry: 20%
services: 77.4% (2001 est.)

Unemployment rate:
13.5% (2009 est.)

12.6% (2008 est.)
note: official rate; unofficial rate is approximately 30%

Population below poverty line:
14.2% (2002)

Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%: 30.7% (2006)

Distribution of family income - Gini index:
39.7 (2007)

36.4 (1997)

Investment (gross fixed):
31.2% of GDP (2009 est.)

Budget:
revenues: $5.545 billion
expenditures: $8.223 billion (2009 est.)

Public debt:
69.9% of GDP (2009 est.)

62.2% of GDP (2008 est.)

Inflation rate (consumer prices):
1.7% (2009 est.)

14.9% (2008 est.)

Central bank discount rate:
6.25% (31 December 2008)

7% (31 December 2007)

Commercial bank prime lending rate:
9.03% (31 December 2008)

Stock of money:
$NA (31 December 2008)

$6.765 billion (31 December 2007)

Stock of quasi money:
$17.98 billion (31 December 2008)

$15.38 billion (31 December 2007)

Stock of domestic credit:
$25.05 billion (31 December 2008)

$19.53 billion (31 December 2007)

Market value of publicly traded shares:
$35.85 billion (31 December 2008)

$41.22 billion (31 December 2007)
$29.73 billion (31 December 2006)

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

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

Industrial production growth rate:
2.6% (2009 est.)

Electricity - production:
12.21 billion kWh (2007 est.)

Electricity - consumption:
10.4 billion kWh (2007 est.)

Electricity - exports:
176 million kWh (2007 est.)

Electricity - imports:
200 million kWh (2007 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
108,000 bbl/day (2008 est.)

Oil - exports:
0 bbl/day (2007 est.)

Oil - imports:
108,200 bbl/day (2007 est.)

Oil - proved reserves:
1 million bbl (1 January 2009 est.)

Natural gas - production:
250 million cu m (2008 est.)

Natural gas - consumption:
2.97 billion cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
2.72 billion cu m (2008 est.)

Natural gas - proved reserves:
6.031 billion cu m (1 January 2009 est.)

Current account balance:
$-1.401 billion (2009 est.)

$-2.39 billion (2008 est.)

Exports:
$6.989 billion (2009 est.)

$7.782 billion (2008 est.)

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

Exports - partners:
India 16.2%, Iraq 16.1%, US 13.2%, Saudi Arabia 6.9%, UAE 4.6% (2008)

Imports:
$12.31 billion (2009 est.)

$14.99 billion (2008 est.)

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

Imports - partners:
Saudi Arabia 21.2%, China 10.4%, Germany 6%, US 4.6%, Egypt 4.5%, Ukraine 4.3% (2008)

Reserves of foreign exchange and gold:
$10.29 billion (31 December 2009 est.)

$8.918 billion (31 December 2008 est.)

Debt - external:
$6.715 billion (31 December 2009 est.)

$6.794 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$17.81 billion (31 December 2009 est.)

$16.5 billion (31 December 2008 est.)

Stock of direct foreign investment - abroad:
$NA (31 December 2009 est.); $NA (31 December 2008)

Exchange rates:
Jordanian dinars (JOD) per US dollar - 0.709 (2009), 0.709 (2008), 0.709 (2007), 0.709 (2006), 0.709 (2005)


NOTE: The information regarding Jordan on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Jordan Economy 2010 information contained here. All suggestions for corrections of any errors about Jordan Economy 2010 should be addressed to the CIA.



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