Jordan Economic Outlook
A service-driven economy with limited natural resources:
Unlike its oil-rich neighbors, Jordan has a resource-scarce economy that heavily depends on services, including tourism, financial services, and remittances from expatriates. The government has made efforts to attract foreign investment and develop industries such as pharmaceuticals and information technology, but economic growth remains constrained by external dependencies.
Tourism and trade as key pillars:Tourism is a major economic driver, with Jordan’s historical and religious sites, including Petra and the Dead Sea, attracting millions of visitors annually. Additionally, the country benefits from trade and logistics due to its strategic location between Iraq, Saudi Arabia, and Israel. However, regional conflicts and political instability have periodically disrupted tourism and trade flows.
Public debt and unemployment concerns:Jordan faces persistent economic challenges, including high public debt—exceeding 90% of GDP—and unemployment, particularly among youth. Government subsidies and public spending have strained fiscal resources, while IMF-backed reforms have been met with public resistance. The government has sought to encourage private sector growth, but bureaucratic hurdles and limited access to credit remain barriers to business expansion.
Jordan’s economic outlook:While Jordan’s economy is expected to grow moderately, long-term success depends on deepening economic reforms, improving fiscal sustainability, and fostering private sector job creation. Investments in renewable energy, digital services, and infrastructure could provide new growth opportunities, but managing public debt and social stability will be key challenges in the years ahead.
Jordan's Macroeconomic Analysis:
Nominal GDP of USD 53.4 billion in 2024.
Nominal GDP of USD 51.0 billion in 2023.
Nominal GDP of USD 53.4 billion in 2024.
GDP per capita of USD 4,693 compared to the global average of USD 10,589.
GDP per capita of USD 4,499 compared to the global average of USD 10,589.
GDP per capita of USD 4,693 compared to the global average of USD 10,589.
Average real GDP growth of 2.2% over the last decade.
Average real GDP growth of 2.2% over the last decade.
Average real GDP growth of 2.2% over the last decade.
Sector Analysis
In 2022, services accounted for 60.6% of overall GDP, manufacturing 17.3%, other industrial activity 17.3%, and agriculture 4.8%. Looking at GDP by expenditure, private consumption accounted for 78.9% of GDP in 2021, government consumption 15.8%, fixed investment 25.2%, and net exports -19.9%.International trade
In 2023, manufactured products made up 73.2% of total merchandise exports, mineral fuels 0.5%, food 13.4%, ores and metals 9.4% and agricultural raw materials 0.3%, with other categories accounting for 3.2% of the total. In the same period, manufactured products made up 52.9% of total merchandise imports, mineral fuels 13.4%, food 20.2%, ores and metals 2.3% and agricultural raw materials 1.1%, with other goods accounting for 10.1% of the total. Total exports were worth USD 12.60 billion in 2023, while total imports were USD 22.90 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 2.2% in the decade to 2023. To read more about GDP growth in Jordan, go to our dedicated page.
Fiscal policy
Jordan's fiscal deficit averaged 4.1% of GDP in the decade to 2023. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 18.2% in the decade to 2023. For more information on Jordan's unemployment click here.
Inflation
Inflation averaged 1.8% in the decade to 2024. Go to our Jordan inflation page for extra insight.
Monetary Policy
Jordan's monetary policy rate ended 2024 at 7.50%, up from 4.25% a decade earlier. See our Jordan monetary policy page for additional details.
Exchange Rate
From end-2014 to end-2024 the dinar stayed on the same level vs the U.S. dollar. For more info on the dinar, click here.
Economic situation in Jordan
GDP rose 2.5% in 2024, slightly higher than the average of the prior decade and the Middle East and North Africa (MENA) region. Our Consensus is for GDP growth to have continued at a similar pace so far this year, and available data is largely positive. Tourist activity rose by double digits in annual terms in Q1, despite elevated geopolitical uncertainty in neighboring countries, while industrial activity was also up in the same period thanks to higher output of chemicals and fertilizers. Less positively, construction activity remained subdued, while phosphate mining shrank. Funding cuts to USAID programs could be acting as a further drag given Jordan was one of world’s largest per-capita recipients of such aid, though the scale of the funding loss is still unclear.Jordan Economic Forecasts
Projections out to 2034.42 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 15 expert analysts.
Want to get insight on the economic outlook for Jordan in the coming years? FocusEconomics collects projections out to 2034 on 42 economic indicators for Jordan from a panel of 15 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Jordan economy. To download a sample report on the Jordan's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.