Ruins in Jordan

Jordan Economy

Jordan's economy in numbers:

Nominal GDP of USD 48.7 billion in 2022.

GDP per capita of USD 4,728 compared to the global average of USD 10,589.

Average real GDP growth of 2.2% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2021, services accounted for 71% of overall GDP, manufacturing 17%, other industrial activity 7%, and agriculture 5%. Looking at GDP by expenditure, private consumption accounted for 84% of GDP in 2021, government consumption 19%, fixed investment 18%, and net exports -21%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2020, manufactured products made up 72% of total merchandise exports, mineral fuels 1%, food 15%, ores and metals 7% and agricultural raw materials 0%, with other categories accounting for 5% of the total. In the same period, manufactured products made up 57% of total merchandise imports, mineral fuels 10%, food 24%, ores and metals 2% and agricultural raw materials 1%, with other goods accounting for 6% of the total. Total exports were worth USD 13 billion in 2022, while total imports were USD 24 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 2.2% in the decade to 2022. To read more about GDP growth in Jordan, go to our dedicated page.

Fiscal policy:

Jordan's fiscal deficit averaged 4.4% of GDP in the decade to 2022. Find out more on our dedicated page.

Unemployment:

The unemployment rate averaged 17.3% in the decade to 2022. For more information on Jordan's unemployment click here.

Inflation:

Inflation averaged 2.3% in the decade to 2022. Go to our Jordan inflation page for extra insight.

Monetary Policy:

Jordan's monetary policy rate ended 2022 at 7.50%, up from 5.00% a decade earlier. See our Jordan monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the dinar stayed on the same level vs the U.S. dollar. For more info on the dinar, click here.
The economy grew 2.3% year on year in Q4, slowing from Q3’s 2.7%: Softer expansions in the hospitality, manufacturing, retail and transport sectors outweighed rebounding mining and construction activity. Our panelists expect GDP growth to have slowed in Q1, and available data for the quarter is fairly downbeat. In January, industrial production declined at the fastest pace in 10 months, while construction permits fell around 9% year on year. In addition, merchandise exports tumbled in February, and tourist numbers were down in annual terms in January–February. That said, financial support from multilateral lenders will have supported and continue to support activity; in April, the government reached a five-year partnership deal with the World Bank, which includes USD 576 million in funding.
Projections out to 2033.

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 2033 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 .

Jordan Economic Data

2018 2019 2020 2021 2022
Population (million) 10.5 10.7 10.9 11.1 11.3
GDP (USD bn) 43.4 44.6 43.8 46.4 48.7
GDP per capita (USD) 4,149 4,165 4,004 4,159 4,315
GDP (JOD bn) 30.8 31.6 31.0 32.9 34.5
Economic Growth (Nominal GDP, ann. var. %) 4.2 2.6 -1.8 5.9 5.1
Economic Growth (GDP, ann. var. %) 1.9 1.8 -1.1 3.7 2.4
Industrial Production (ann. var. %) -6.1 -0.6 -12.4 13.0 2.7
Unemployment (% of active population, aop) 18.6 19.1 22.7 24.1 22.9
Fiscal Balance (% of GDP) -2.4 -3.3 -7.0 -6.1 -4.5
Public Debt (% of GDP) 74.3 77.2 87.0 90.9 89.4
Money (ann. var. of M2 %) 1.2 4.8 5.8 6.7 5.5
Inflation (CPI, ann. var. %, aop) 4.5 0.8 0.3 1.3 4.2
Rediscount Rate (%, eop) 5.75 5.00 3.50 3.50 7.50
Exchange Rate (JOD per USD, eop) 0.71 0.71 0.71 0.71 0.71
Current Account Balance (USD bn) -3.0 -0.8 -2.5 -3.7 -3.8
Current Account Balance (% of GDP) -6.8 -1.7 -5.7 -8.0 -7.7
Merchandise Trade Balance (USD bn) -10.3 -8.7 -7.4 -9.8 -11.5
Merchandise Exports (USD bn) 7.8 8.3 8.0 9.4 12.8
Merchandise Imports (USD bn) 18.1 17.1 15.4 19.2 24.3
Merchandise Exports (ann. var. %) 3.1 7.4 -4.5 17.8 36.5
Merchandise Imports (ann. var. %) -0.9 -5.5 -10.1 25.0 26.7
Foreign Direct Investment (USD bn) 1.0 0.7 0.8 0.6 1.1
International Reserves (USD bn) 14.6 15.4 17.0 19.0 18.2
International Reserves (months of imports) 9.7 10.8 13.3 11.9 9.0
External Debt (USD bn) 31.9 33.5 38.0 41.7 41.2
External Debt (% of GDP) 73.6 75.2 86.9 90.0 84.6

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