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Jordan Economy: from the All Country Info reference guide to country facts

Jordan Economy

Jordan Economy: A summary of information about Jordan Economy, from government research data as well as independent research and other sources.

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Jordan: Economy

Economy - overview
Jordan is a small Arab country with inadequate
supplies of water and other natural resources such as oil. The Persian
Gulf crisis, which began in August 1990, aggravated Jordan's already
serious economic problems, forcing the government to shelve the IMF
program, stop most debt payments, and suspend rescheduling
negotiations. Aid from Gulf Arab states, worker remittances, and trade
contracted; and refugees flooded the country, producing serious
balance-of-payments problems, stunting GDP growth, and straining
government resources. The economy rebounded in 1992, largely due to
the influx of capital repatriated by workers returning from the Gulf.
After averaging 9% in 1992-95, GDP growth averaged only 2% during
1996-99. In an attempt to spur growth, King ABDALLAH has undertaken
limited economic reform, including partial privatization of some state
owned enterprises and Jordan's entry in January 2000 into the World
Trade Organization (WTrO). Debt, poverty, and unemployment are
fundamental ongoing economic problems.
GDP
purchasing power parity - $16 billion (1999 est.)
GDP - real growth rate
2% (1999 est.)
GDP - per capita
purchasing power parity - $3,500 (1999 est.)
GDP - composition by sector
agriculture: 3%
industry: 25%
services: 72% (1998 est.)
Population below poverty line
30% (1998 est.)
Household income or consumption by percentage share
lowest 10%: 2.4%
highest 10%: 34.7% (1991)
Inflation rate (consumer prices)
3% (1999 est.)
Labor force
1.15 million
note: in addition, at least 300,000 workers are employed abroad (1997
est.)
Labor force - by occupation
industry 11.4%, commerce, restaurants,
and hotels 10.5%, construction 10%, transport and communications 8.7%,
agriculture 7.4%, other services 52% (1992)
Unemployment rate
15% official rate; actual rate is 25%-30% (1999
est.)
Budget
revenues: $2.8 billion
expenditures: $3.1 billion, including capital expenditures of $NA
(2000 est.)
Industries
phosphate mining, petroleum refining, cement, potash,
light manufacturing, tourism
Industrial production growth rate
-3.4% (1996)
Electricity - production
6.08 billion kWh (1998)
Electricity - production by source
fossil fuel: 99.51%
hydro: 0.49%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
6.102 billion kWh (1998)
Electricity - exports
2 million kWh (1998)
Electricity - imports
450 million kWh (1998)
Agriculture - products
wheat, barley, citrus, tomatoes, melons,
olives; sheep, goats, poultry
Exports
$1.8 billion (f.o.b., 1999 est.)
Exports - commodities
phosphates, fertilizers, potash, agricultural
products, manufactures
Exports - partners
Iraq, India, Saudi Arabia, EU, Indonesia, UAE,
Lebanon, Kuwait, Syria, Ethiopia
Imports
$3.3 billion (c.i.f., 1999 est.)
Imports - commodities
crude oil, machinery, transport equipment,
food, live animals, manufactured goods
Imports - partners
Germany, Iraq, US, Japan, UK, Italy, Turkey,
Malaysia, Syria, China
Debt - external
$8.4 billion (1998 est.)
Economic aid - recipient
ODA, $850 million (1996 est.)
Currency
1 Jordanian dinar (JD) = 1,000 fils
Exchange rates
Jordanian dinars (JD) per US$1 - 0.7090 (January
2000-1996), 0.7005 (1995)
note: since May 1989, the dinar has been pegged to a group of
currencies
Fiscal year
calendar year
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