Jordan Economic Forecast

Jordan Economic Outlook

March 5, 2019

The economy likely grew at a broadly steady pace in 2018, underpinned by the re-opening of the border with Iraq and the launch of new low-cost European airline routes to Jordan, supporting tourism. However, external financing conditions were poor last year. Turning to 2019, the signing of a trade agreement with Iraq in February—which will see oil deliveries resume from Iraq and lower tariffs on Jordanian exports—should further support the external sector. Meanwhile, the IMF and Jordan agreed to keep the fiscal deficit on a downward path on 7 February and, following a major international donor conference in London on 28 February, Jordan received over USD 2 billion in financial assistance pledges.

Jordan Economic Growth

Increased tourism activity, improved trading routes with Iraq and Syria, and greater gas supplies from abroad, particularly Egypt and Iraq, should underpin economic growth in 2019. However, fiscal consolidation and possible tighter monetary policy represent downside risks to growth. Our panelists expect GDP growth of 2.4% in 2019, which is unchanged from last month’s forecast, and 2.6% in 2020.

Jordan Economy Data

20132014201520162017
Population (million)6.56.76.87.07.1
GDP per capita (USD)5,1455,3675,4985,5415,619
GDP (USD bn)33.635.837.538.740.1
Economic Growth (GDP, annual variation in %)2.83.12.42.02.0
Industrial Production (annual variation in %)1.61.70.9-2.1-0.7
Unemployment Rate12.611.913.115.318.3
Fiscal Balance (% of GDP)-5.5-2.3-3.5-3.2-2.6
Public Debt (% of GDP)86.789.093.495.195.3
Money (annual variation in %)9.76.98.14.00.3
Inflation Rate (CPI, annual variation in %)4.82.9-0.9-0.83.3
Policy Interest Rate (%)4.504.253.753.755.00
Exchange Rate (vs USD)0.710.710.710.710.71
Current Account (% of GDP)-10.4-7.3-9.1-9.6-10.6
Current Account Balance (USD bn)-3.5-2.6-3.4-3.7-4.3
Trade Balance (USD billion)-11.7-12.0-10.3-9.6-10.7
Exports (USD billion)7.98.47.87.67.5
Imports (USD billion)19.620.418.217.218.1
Exports (annual variation in %)0.26.0-6.6-3.7-1.1
Imports (annual variation in %)6.04.0-10.7-5.75.7
International Reserves (USD)12.014.114.212.912.3
External Debt (% of GDP)69.067.868.670.2-  

Sample Report

5 years of Jordan economic forecasts for more than 30 economic indicators.

Download

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.

Download

Jordan Facts

ValueChangeDate
Exchange Rate0.710.0 %Jan 31
Stock Market3,9280.08 %Mar 08

Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Search form