About Jordon and Key Financial Statistics









About Jordon and Key Financial Statistics



Overview of Economy:

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 poverty, unemployment, inflation, and a large budget deficit and resulting government debt. King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as opening up 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 since, however, reduced the average annual growth rate to 2.6% for the 2010-2013 period and hurt export-oriented sectors, construction, and tourism. Jordan's finances have been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. To diversify its energy mix, Jordan is currently exploring nuclear power generation, exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. In August 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, three year International Monetary Fund Stand-By Arrangement. In 2014, fiscal reform measures enacted in the previous few years continued to boost government revenues and reduced the budget deficit even as an influx of over 620,000 Syrian refugees since 2011 put additional pressure on expenditures.



Gross Domestic Product (In USD):

$79.91 billion (2014 est.)
$77.51 billion (2013 est.)
$75.38 billion (2012 est.)



Composition of Gross Domestic Product:


% Agricuture: 3.8

% Industry: 29.8

% Services: 66.4


Composition of Labor Force by Occupation:

% Agriculture: 2

% Industry: 20

% Services: 78


Per Capita Income:

$12,000 (2014 est.)
$11,600 (2013 est.)
$11,300 (2012 est.)



Exports:

$8.385 billion (2014 est.)
$7.913 billion (2013 est.)



Key Export Commodities:

clothing, fertilizers, potash, phosphates, vegetables, pharmaceuticals



Export Partners:

US 15.8%, Iraq 15.3%, Saudi Arabia 12.4%, India 7.8% (2014)



Imports:

$20.18 billion (2014 est.)
$19.56 billion (2013 est.)



Key Import Commodities:

crude oil, refined petroleum products, machinery, transport equipment, iron, cereals



Import Partners:

Saudi Arabia 19.6%, China 10.5%, US 5.8%, India 5.5%, UAE 4.8% (2014)



Inflation Rate (Consumer Price Index):

2.9% (2014 est.)
4.8% (2013 est.)




Exchange Rate to USD:

Jordanian dinars (JOD) per US dollar -
0.71 (2014 est.)
0.71 (2013 est.)
0.709 (2012 est.)
0.709 (2011 est.)
0.71 (2010 est.)




Unemployment Rate:

11.9% (2014 est.)
12.6% (2013 est.)


S&P Rating:



Standard & Poor's Ratings:

  • AAA: The best quality borrowers, reliable and stable
  • AA: Quality borrowers, a bit higher risk than AAA
  • A: Economic situation can affect finance
  • BBB: Medium class borrowers, which are satisfactory at the moment
  • BB: More prone to changes in the economy
  • B: Financial situation varies noticeably
  • CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.






Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings