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Jordan

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Last reviewed: 05 October 2009

Country information

Economy

Overview

Jordan is a small country with limited natural resources. For many years it has had to contend with a difficult external economic environment caused by problems in neighbouring countries: its goods have poor access to the West Bank and Israeli markets, while dealings with Iraq, which would normally be its largest export market, have been disrupted first by the effect of sanctions and, since the fall of Saddam Hussein, by lack of security.

Faced with dealing with economic challenges includings poverty and unemployment, King Abdullah gives high priority to economic reform as an essential condition for sustained economic growth to deliver jobs and better living standards for an expanding population. The agenda includes wide-ranging public sector reform, privatisation, and trade liberalisation: on the trade front Jordan is party to the Agadir Agreement between four of the more reformist countries in the Middle East/North Africa. It is an enthusiastic participant in regional reform initiatives.

By regional standards Jordan has made good progress with reform. Economic growth has begun to improve, though sustained progress is needed to alleviate social problems. Regional constraints are beginning to ease. Jordan stands to gain from an improving economic situation in Iraq. It has begun to benefit from economic co-operation with Israel: in the first instance in the specially formed Qualifying Industrial Zones which take advantage of US trade concessions, and which have made possible dramatically increased exports to the US. It hopes to benefit from similar co-operation over exports to the EU.

Basic economic facts

Sources: IMF, EIU

GNP (2008): JD 14,864.6 millon
GNP per head (2008): JD 2972.8
Annual growth (real GDP, 2008): expected 5.6%
Inflation (consumer price index, 2007): 5.7%
Major industries: Industry 11.4%, commerce/hotels/restaurants 10.5%, construction 10%, transport and communications 8.7%, agriculture 7.4%, other services 52%
Top Exports (2001): textiles, potash, pharmaceuticals, machinery, phosphates, vegetables, fruit and nuts.
Major trading partners: Exports – Iraq, India, USA, Saudi Arabia, Israel, Japan, Pakistan, Lebanon. Imports – Iraq, Germany, USA, Italy, France, UK, China, Korea.
Aid & development: The UK is a major contributor to assistance from the EU, UNRWA, World Bank and IMF
Exchange rate: 1 JD = £0.75 (Sept 2006)
The JD is pegged to the US $*
*World Bank WDI database

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Contacts

Jordan

Address:

Embassy of the Hashemite Kingdom of Jordan
6 Upper Phillimore Gardens
London W8 7HA

Defence Attaché's Office:
16 Upper Phillimore Gardens
London W8 7HB

Telephone:

(020) 7937 3685
(020) 7937 9611 Defence Attaché's Office
(020) 7937 9499 Jordan Information Bureau
(090) 6550 8968 Visa Information Service

Fax:

(020) 7937 8795
(020) 7937 7505 Defence Attaché's Office
(020) 7937 6741 Jordan Information Bureau

Email: info@jordanembassyuk.org

Office hours:

Mon–Fri: 0900–1500

Defence Attaché's Office: Mon–Thurs: 0900–1500 / Fri: 0900-1200
Visa Information Service: Mon-Fri: 1000-1300
Jordan Information Bureau: Mon-Thurs: 0900-1500 / Fri: 0900-1300

Website: www.jordanembassyuk.org