Jordan Economic Outlook
October 4, 2016Conflicts in Syria and Iraq have weighed significantly on Jordan’s growth in recent years, as the country has had to face both a refugee crisis and thorny security problems. GDP growth slowed from Q4’s 2.6% to 2.3% in Q1, while more recent high-frequency data for the first seven months of the year show that both industrial production and exports declined compared to the same period last year. On a more positive note, on 27 September, the World Bank approved a USD 300 million loan to support Jordan’s efforts to improve the investment climate and to reform the country’s labor market in order to facilitate the inclusion of Syrian workers. In the political arena, parliamentary elections were held on 20 September. Although a majority favorable to the outgoing government was elected, the Islamic Action Front also gained parliamentary representation. On 28 September, King Abdullah II swore in a new government led by Hani Al-Mulki as prime minister for a second term.
Jordan Economy Data
|GDP per capita (USD)||4,615||4,843||5,145||5,367||5,498|
|GDP (USD bn)||28.8||30.9||33.6||35.8||37.5|
|Economic Growth (GDP, annual variation in %)||2.6||2.7||2.8||3.1||2.4|
|Industrial Production (annual variation in %)||-0.3||0.2||1.6||1.7||0.9|
|Fiscal Balance (% of GDP)||-6.8||-8.3||-5.5||-2.3||-3.5|
|Public Debt (% of GDP)||65.5||75.5||80.1||80.8||-|
|Money (annual variation in %)||8.0||-5.1||16.3||9.0||8.6|
|Inflation Rate (CPI, annual variation in %)||4.2||4.5||4.8||2.9||-0.9|
|Policy Interest Rate (%)||4.50||5.00||4.50||4.25||3.75|
|Exchange Rate (vs USD)||0.71||0.71||0.71||0.71||0.71|
|Current Account (% of GDP)||-10.3||-15.3||-10.4||-7.3||-9.0|
|Current Account Balance (USD bn)||-3.0||-4.7||-3.5||-2.6||-3.4|
|Trade Balance (USD billion)||-8.8||-10.6||-11.7||-12.0||-10.2|
|Exports (USD billion)||8.0||7.9||7.9||8.4||7.8|
|Imports (USD billion)||16.9||18.5||19.6||20.4||18.1|
|Exports (annual variation in %)||13.8||-1.4||0.2||6.0||-6.6|
|Imports (annual variation in %)||21.6||9.6||6.0||4.0||-11.3|
|International Reserves (USD)||11.5||8.1||13.2||15.3||14.9|
|External Debt (% of GDP)||61.3||59.7||69.0||67.7||-|
5 years of Jordan economic forecasts for more than 30 economic indicators.
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|Exchange Rate||0.71||0.0 %||Sep 30|
|Stock Market||3,919||-0.29 %||Oct 24|
Jordan Economic Growth
October 4, 2016Regional turmoil and a battered business sentiment will weigh on Jordan’s economic growth this year. FocusEconomics panelists expect GDP growth of 2.4% in 2016 and of 2.9% in 2017.