Jordan is a small, lower-middle-income country with a diverse economy that faces challenges such as water scarcity and geopolitical instability in the region. According to Smber, the country’s economic sectors contribute to its GDP, employment, and overall development. Here’s an overview of the statistics for each major economic sector in Jordan:
- Services Sector: The services sector is a significant contributor to Jordan’s GDP and employment. It encompasses a wide range of activities, including tourism, finance, transportation, and education. The sector benefits from Jordan’s strategic location as a crossroads in the Middle East.
- Tourism and Hospitality: Tourism is a vital sector for Jordan’s economy, attracting visitors to its historical sites such as Petra and the Dead Sea. The country’s rich cultural heritage and natural beauty contribute to tourism revenue and employment opportunities.
- Trade and Commerce: Jordan’s trade and commerce activities include both domestic trade and international trade through its ports and land borders. Trade is facilitated by Jordan’s location at the crossroads of several countries in the region.
- Financial Services: Jordan’s financial services sector includes banking, insurance, and capital markets. The Amman Stock Exchange is a significant financial market in the region.
- Telecommunications and IT: Jordan has a growing telecommunications and IT sector, with a focus on mobile and internet services. The sector contributes to connectivity and digital innovation.
- Transportation and Logistics: The transportation sector is important for Jordan’s economy due to its role in facilitating trade and connectivity with neighboring countries. Jordan has road networks, land borders, and seaports.
- Education and Research: Education is a priority sector for Jordan, contributing to human capital development and knowledge-based activities. The country has universities and research institutions that support research and innovation.
- Healthcare and Pharmaceuticals: The healthcare sector provides medical services and pharmaceuticals. The country’s healthcare system contributes to public health and well-being.
- Construction and Real Estate: The construction sector has experienced growth due to urbanization and infrastructure development. Real estate activities include residential and commercial projects.
- Manufacturing and Industry: Jordan’s manufacturing sector includes textiles, chemicals, and pharmaceuticals. The country has export-oriented industries that benefit from trade agreements.
- Agriculture: Despite challenges such as water scarcity, Jordan’s agriculture sector contributes to domestic food production. The country produces crops like olives, fruits, and vegetables.
- Energy and Utilities: Jordan has limited natural resources, including energy sources. The country imports a significant portion of its energy needs and has been exploring renewable energy projects.
- Mining and Extractive Industries: Jordan has resources such as phosphate and potash. The extractive industries contribute to export earnings and revenue.
- Water and Water-Related Industries: Water scarcity is a significant challenge for Jordan. The country invests in water-related industries, technologies, and conservation efforts.
- Creative Industries: Jordan’s creative industries include arts, crafts, and cultural exports. The sector contributes to cultural expression and tourism.
- Textiles and Garments: The textiles and garments sector is an important source of employment and export revenue. Jordan benefits from trade agreements that support its textile exports.
It’s important to note that while these sectors contribute to Jordan’s economy, the specific contribution of each sector to GDP, employment, and other economic indicators can vary over time due to factors such as global economic trends, geopolitical dynamics, and policy changes.
Additionally, economic data and situations can change rapidly, and there may have been developments in Jordan’s economy. For the most current and accurate information, it’s recommended to consult recent reports from government agencies, international organizations, and reputable financial institutions.
Major Trade Partners of Jordan
Jordan’s trade relationships are shaped by its geographic location, economic diversification efforts, and trade agreements. The country’s trade partners play a crucial role in its economic growth, foreign exchange earnings, and development strategies. Here’s an overview of Jordan’s major trade partners up to that point:
- Saudi Arabia: According to COUNTRYAAH.COM, Saudi Arabia is one of Jordan’s closest trade partners and a significant source of economic support. The two countries share historical, cultural, and economic ties. Saudi Arabia provides aid to Jordan and facilitates trade through joint projects, including the development of the Jordan-Saudi border area. Additionally, Saudi Arabia is a destination for Jordanian labor migration.
- United States: The United States is a major trade partner for Jordan. The two countries have a trade relationship supported by the U.S.-Jordan Free Trade Agreement (FTA), which has contributed to increased exports of goods and services. The U.S. is an important market for Jordanian exports such as textiles, garments, and pharmaceuticals.
- Iraq: Jordan has established trade relationships with Iraq, facilitated by the shared border and historical connections. The two countries engage in cross-border trade, including the exchange of goods and services. Iraq is a market for Jordanian products like food and consumer goods.
- United Arab Emirates (UAE): The UAE is an important trade partner for Jordan, particularly in terms of investments and economic cooperation. The UAE has provided financial support to Jordan and invested in various sectors. The two countries collaborate on projects related to infrastructure and development.
- China: China’s growing global influence has led to increased trade ties with Jordan. The two countries engage in trade across sectors like textiles, electronics, and machinery. Jordan benefits from Chinese investment in infrastructure projects.
- European Union (EU): The European Union is a significant trade partner for Jordan, facilitated by the EU-Jordan Association Agreement. The agreement supports trade and economic cooperation. The EU is an important destination for Jordanian exports, including garments, textiles, and agricultural products.
- Turkey: Turkey and Jordan have explored trade opportunities and economic cooperation. The two countries engage in bilateral trade, with sectors such as textiles and manufacturing being prominent.
- India: Jordan’s trade relationship with India includes sectors like pharmaceuticals, textiles, and machinery. The two countries have explored opportunities for economic cooperation and trade agreements.
- Egypt: Jordan shares a border with Egypt, and the two countries have cross-border trade activities. Jordan exports goods like vegetables, fruits, and textiles to Egypt.
- Syria: Despite challenges posed by regional conflicts, Jordan has historical trade ties with Syria. Cross-border trade occurs despite disruptions, benefiting both economies.
- Kuwait: Kuwait is another Gulf Cooperation Council (GCC) country that has trade relations with Jordan. The two countries engage in economic cooperation and trade partnerships.
- Lebanon: Jordan has established trade relationships with Lebanon, with sectors like food products and textiles being involved in cross-border trade.
- Qatar: Qatar is part of Jordan’s trade network, with sectors like food and consumer goods engaging in trade activities.
- Canada: Jordan’s trade with Canada spans various sectors, including textiles, garments, and technology. The two countries have explored opportunities for economic cooperation.
- Pakistan: Jordan and Pakistan have explored trade opportunities across sectors like textiles, pharmaceuticals, and technology. The two countries have engaged in discussions related to economic cooperation.
- Brazil: While not a major trade partner, Jordan has explored trade opportunities with Brazil, particularly in sectors like agriculture and technology.
Jordan’s trade partnerships are influenced by factors such as global economic trends, geopolitical dynamics, and regional stability. Additionally, economic data and situations can change rapidly, and there may have been developments in Jordan’s trade relationships. For the most current and accurate information about Jordan’s trade partners, it’s recommended to refer to recent reports from government agencies, international organizations, and reputable financial institutions.