Jordanian economy is experiencing a very high growth rates;
Jordan is the second Arab economy that has grown over the past fifty years;
Jordanian GDP growth: 3%
Services sector: 68% of the total GDP;
Manufacturing: 25% of the Jordanian GDP;
Tourism sector: 14% of the GDP.
Inflation rate: 5.6%;
Free Market-Oriented Economy;
Deep privatization of the largest state-owned enterprises;
The largest Jordanian port is the Port of Aqaba;
The Hashemite Kingdom of Jordan has significant natural resources, but its business sector is not well established, their economy is very open;
According to the Heritage Foundation, the Index of Economic Freedom of Jordan was 52;
There are substantial trade and investment opportunities in construction, public sector, and commercial sector;
According to the Central Bank of Jordan the services sector, including construction, accounts for 71.9% of the GDP;
Jordanian tourism has become increasingly important in the recent years (between 8 and 10% of the Jordanian gross domestic product);
In the recent years the most dynamic sector of the Jordanian economy has been the construction sector;
Jordanian industry comprises a broad range of products: meat products, fruits, vegetables, dairy, animal food, confectionery, soft drinks, snuff, olive oil, alcohol, and others;
Jordan exports only 15% of his production;
Currency: Jordanian dinar (JOD);
Deregulated telecommunication Market.
Jordanian Foreign Trade.
The main suppliers of the Hashemite Kingdom of Jordan were Saudi Arabia (21%), China (10%),
Germany (6%), the U.S. (4%), Egypt (4%), South Korea (3%) Italy (3%), India (3%), Japan (2.9%), and Turkey (2%);
The European Union accounts for 24% of the Jordanian imports;
The largest export markets
of the Hashemite Kingdom of Jordan were India (20%), the U.S. (16%),
Iraq (13%), Saudi Arabia (7%), the United Arab Emirates (3%), and Syria (3%);
Jordanian main exports are apparel and clothing, fertilizers, vegetables, and pharmaceutical products;
Jordanian main imports are Mineral fuels, nuclear reactors, electrical machinery, and vehicles;
Qualifying Industrial Zones: free access to the U.S. market;
Free Zones (Aqaba and Zarqa).
Jordan has more Free Trade Agreements than any other Arab country: United States, Canada, Singapore, Malaysia, Egypt, the European Free Trade Association (EFTA), Tunisia, Algeria, Libya, Lebanon, Turkey, and Syria.
More Trade Agreements are provided with Iraq, Palestine, the Gulf Cooperation Council (GCC) countries, Lebanon, and Pakistan.
(c) EENI Global Business School (1995-2023)
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