Economy Of Jordan - Jordan Information

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Economy Of Jordan
Jordan Information - Country Guides

Economy overview	Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. Debt, poverty, and unemployment are fundamental problems, but King ABDALLAH, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. 'Amman in the past three years has worked closely with the IMF, practiced careful monetary policy, and made substantial headway with privatization. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTrO (2000), a free trade accord with the US (2000), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. The US-led war in Iraq in 2003 dealt an economic blow to Jordan, which was dependent on Iraq for discounted oil (worth $300-$600 million a year). Several Gulf nations have provided temporary aid to compensate for the loss of this oil; when this foreign aid expires, the Jordanian government has pledged to raise retail petroleum product prices and the sales tax base. Other ongoing challenges include fiscal adjustment to reduce the budget deficit, broader investment incentives to promote job-creating ventures, and the encouragement of tourism.
GDP	purchasing power parity - $23.64 billion (2004 est.)
GDP - real growth rate	3.1% (2004 est.)
GDP - per capita	purchasing power parity - $4,300 (2004 est.)
GDP - composition by sector	agriculture: 3.6% industry: 29% services: 67.4% (2004 est.)
Investment gross fixed	18.8% of GDP (2004 est.)
Population below poverty line	30% (2001 est.)
Household income or consumption by percentage share	lowest 10%: 3.3% highest 10%: 29.8% (1997)
Distribution of family income - Gini index	36.4 (1997)
Inflation rate consumer prices	2.4% (2004 est.)
Labor force	1.36 million (2004 est.)
Labor force by occupation	agriculture 5%, industry 12.5%, services 82.5% (2001 est.)
Unemployment rate	16% official rate; actual rate is 25%-30% (2001 est.)
Budget	revenues: $2.397 billion expenditures: $3.587 billion, including capital expenditures of $582 million (2004 est.)
Public debt	92.7% of GDP (2004 est.)
Agriculture products	wheat, barley, citrus, tomatoes, melons, olives; sheep, goats, poultry
Industries	phosphate mining, pharmaceuticals, petroleum refining, cement, potash, light manufacturing, tourism
Industrial production growth rate	3.5% (2004 est.)
Electricity production	7.091 billion kWh (2001)
Electricity production by source	fossil fuel: 99.4% hydro: 0.6% other: 0% (2001) nuclear: 0%
Electricity consumption	6.86 billion kWh (2001)
Electricity exports	2 million kWh (2001)
Electricity imports	267 million kWh (2001)
Oil production	40 bbl/day (2001 est.)
Oil consumption	103,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves	445,000 bbl (1 January 2002)
Natural gas production	290 million cu m (2001 est.)
Natural gas consumption	290 million cu m (2001 est.)
Natural gas exports	0 cu m (2001 est.)
Natural gas imports	0 cu m (2001 est.)
Natural gas proved reserves	3.256 billion cu m (1 January 2002)
Current account balance	$903 million (2004 est.)
Exports	$2.908 billion f.o.b. (2004 est.)
Exports commodities	clothing, phosphates, fertilizers, potash, vegetables, manufactures, pharmaceuticals
Exports partners	US 21.5%, Iraq 17.6%, Switzerland 6.5%, India 6.5%, Saudi Arabia 5.3% (2003)
Imports	$4.946 billion f.o.b. (2003 est.)
Imports commodities	crude oil, textile fabrics, machinery, transport equipment, manufactured goods
Imports partners	Saudi Arabia 11.3%, China 7.9%, Germany 7.9%, US 6.8%, Iraq 6.5% (2003)
Reserves of foreign exchange gold	$5.364 billion (2004 est.)
Debt external	$7.683 billion (2004 est.)
Economic aid recipient	ODA, $553 million (2000 est.)
Currency	Jordanian dinar (JOD)
Currency code	JOD
Exchange rates	Jordanian dinars per US dollar - 0.709 (2003), 0.709 (2002), 0.709 (2001), 0.709 (2000), 0.709 (1999)
Fiscal year	calendar year

Jordanian Flag Map Of Jordan

Economy Of JordanJordan Information - Country Guides

Economy Of Jordan
Jordan Information - Country Guides