Jordan

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Jordan - In Short.

Overview of Jordan

Following World War I and the dissolution of the Ottoman Empire, the League of Nations awarded Britain the mandate to govern much of the Middle East. Britain demarcated a semi-autonomous region of Transjordan from Palestine in the early 1920s. The area gained its independence in 1946 and thereafter became The Hashemite Kingdom of Jordan. The country’s long-time ruler, King HUSSEIN (1953-99), successfully navigated competing pressures from the major powers (US, USSR, and UK), various Arab states, Israel, and a large internal Palestinian population. Jordan lost the West Bank to Israel in the 1967 Six-Day War. King HUSSEIN in 1988 permanently relinquished Jordanian claims to the West Bank; in 1994 he signed a peace treaty with Israel. King ABDALLAH II, King HUSSEIN’s eldest son, assumed the throne following his father’s death in 1999. He has implemented modest political reforms, including the passage of a new electoral law in early 2016 and an effort to devolve some authority to governorate- and municipal-level councils following subnational elections in 2017. In 2016, the Islamic Action Front, which is the political arm of the Jordanian Muslim Brotherhood, returned to the National Assembly with 15 seats after boycotting the previous two elections in 2010 and 2013.
Value
Country Full Name
Jordan
Country Code
JOR
Region
Middle East & North Africa
Income Group
Upper middle income
Currency Unit
GDP
43697659296
Population
10203140
Land Area
88780
Net National Income Per Capita
4063.743736
GDP per Capita (PPP)
10355.00857

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Jordan - Economic

Economy of Jordan

Jordan’s economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government’s heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of unemployment and underemployment, budget and current account deficits, and government debt.King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as expanding foreign trade and privatizing state-owned companies that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil contributed to slower growth from 2010 to 2017 – with growth averaging about 2.5% per year – and hurt export-oriented sectors, construction/real estate, and tourism. Since the onset of the civil war in Syria and resulting refugee crisis, one of Jordan’s most pressing socioeconomic challenges has been managing the influx of approximately 660,000 UN-registered refugees, more than 80% of whom live in Jordan’s urban areas. Jordan’s own official census estimated the refugee number at 1.3 million Syrians as of early 2016.Jordan is nearly completely dependent on imported energy—mostly natural gas—and energy consistently makes up 25-30% of Jordan’s imports. To diversify its energy mix, Jordan has secured several contracts for liquefied and pipeline natural gas, developed several major renewables projects, and is currently exploring nuclear power generation and exploitation of abundant oil shale reserves. In August 2016, Jordan and the IMF agreed to a $723 million Extended Fund Facility that aims to build on the three-year, $2.1 billion IMF program that ended in August 2015 with the goal of helping Jordan correct budgetary and balance of payments imbalances.

Unemployment Rate

Inflation Rate

Jordan - GDP Composition

GDP Composiiton & Value Added of Jordan

Last Updated: Jan, 2021, Updated For 2020.

Jordan - GDP, Value Added

Demographics of Jordan

population heavily concentrated in the west, and particularly the northwest, in and around the capital of Amman; a sizeable, but smaller population is located in the southwest along the shore of the Gulf of Aqaba
Geographic Location

Middle East, northwest of Saudi Arabia, between Israel (to the west) and Iraq

Races

Jordanian 69.3%, Syrian 13.3%, Palestinian 6.7%, Egyptian 6.7%, Iraqi 1.4%, other 2.6% (includes Armenian, Circassian) (2015 est.)note: data represent population by self-identified nationality

Languages

Arabic (official), English (widely understood among upper and middle classes)major-language

Religion

Muslim 97.1% (official; predominantly Sunni), Christian 2.1% (majority Greek Orthodox, but some Greek and Roman Catholics, Syrian Orthodox, Coptic Orthodox, Armenian Orthodox, and Protestant denominations), Buddhist 0.4%, Hindu 0.1%, Jewish <0.1%, folk <0.1%, other <0.1%, unaffiliated <0.1% (2020 est.)

Dependency & Expectancy of Jordan

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Jordan - Social Media & Social Commerce

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Politics & Policies of Jordan

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ABEDA, AFESD, AMF, CAEU, CD, CICA, EBRD, FAO, G-11, G-77, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), LAS, MIGA, MINUSTAH, MINUSMA, MONUSCO, NAM, OIC, OPCW, OSCE (partner), PCA, UN, UNAMID, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIL, UNMISS, UNOCI, UNRWA, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

Import of Jordan

Export of Jordan

Import Destination

Export Destination