Trade Balance in Jordan
Jordan - Trade BalanceThe economy expanded 2.7% year-on-year in Q3, slowing from Q2’s 3.2% growth. The result was partly due to industrial production softening markedly from the prior quarter’s stellar growth. Meanwhile, the unemployment rate decreased in Q3, likely supporting household consumption. That said, it remained near record highs, which, coupled with intensified price pressures, should have capped the overall improvement. In late November authorities presented a JOD 10.1 billion (around USD 7.2 billion) 2022 draft budget, which sees a drop in debt servicing costs and a 43% increase in capital spending, aimed at spurring growth and improving the country’s infrastructure. The blueprint also sees a pre-foreign aid deficit of 7.7% of GDP. In other news, on 7 December Fitch Ratings affirmed the country’s ‘BB-’ rating and upgraded the outlook to stable, citing Jordan’s progress on the recovery and on fiscal consolidation. Meanwhile, on 20 December the IMF released USD 335 million after completing the third review of the country’s loan program.
Jordan - Trade Balance Data
|Trade Balance (USD billion)||-12.6||-11.8||-13.0||-12.6||-11.0|
5 years of economic forecasts for more than 30 economic indicators.
Jordan Trade Balance Chart
Source: Central Bank of Jordan.
|Exchange Rate||0.71||0.0 %||Nov 30|
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