Jordan's Macroeconomic Analysis:
Nominal GDP of USD 51.0 billion in 2023.
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.
GDP per capita of USD 4,499 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.
Sector Analysis
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%.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.Main Economic Indicators
Economic growthThe 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.
Economic situation in Jordan
Economic growth accelerated to 2.4% year on year in Q2 from 2.0% in Q1 thanks to stronger transport and hospitality sectors, while manufacturing growth slowed and mining output contracted. Our Consensus is for the economy to have lost steam in Q3, though available data is mixed. On one hand, the transport and hospitality sectors were likely dampened by a stagnation in tourist arrivals, while industrial output saw a slightly steeper double-digit decline in Q3 vs Q2. On the other hand, private-sector credit growth accelerated in Q3 and housing permits recovered in July–August after Q2’s decline. Heading into Q4, tourism appears resilient despite the recent escalation in fighting between Israel and Lebanese paramilitary group Hezbollah; visitor arrivals were up in annual terms in October.Jordan Economic Forecasts
Projections out to 2034.42 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 13 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 13 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.