Jordan Economic Monitor, Summer 2024: Strength Amidst Strain: Jordan’s Economic Resilience
Jordan's economy showed continued resilience in 2023 and early 2024, according to a new World Bank report released today. Real GDP edged up to 2.7 percent in 2023. While this is a modest increase from 2022, it was achieved amidst a challenging regional environment and driven by a broad economic base.
Jordan Economic Monitor, Fall 2022: Public Investment: Maximizing the Development Impact
Despite a challenging global environment, Jordan’s growth exceeded expectations during the first half of 2022. Propelled by a strong rebound in international tourism, the full reopening of the economy, and improving exports, real GDP accelerated to 2.7 percent. However, the rebound in economic activity was only modestly reflected on labor market indicators with unemployment rates declining only gradually.
Jordan Economic Monitor, Spring 2022: Global Turbulence Dampens Recovery and Job Creation
Jordan’s economy achieved a relatively strong rebound, registering 2.2 percent growth in 2021. The nascent recovery was led by a broad-based expansion of the services and industrial sectors, while the rebound in the travel and tourism also exceeded expectations. This robust economic recovery was supported by accommodative but prudent monetary and fiscal policy along with a recovery in domestic demand and the gradual reopening of the economy.
Jordan Economic Monitor, Fall 2021: En Route to Recovery
Jordan’s economy is showing a healthy recovery following a moderate contraction of 1.6 percent in 2020. Notwithstanding the restrictive pandemic measures, the economy managed to grow by 1.8 percent in the first half of 2021. Meanwhile, accommodative monetary policy by the Central Bank of Jordan (CBJ) as well as fiscal policy, continued to play an active role in supporting the economy during the pandemic, while inflation has remained low.
Jordan Economic Monitor, Spring 2021: Uncertain and Long Trail Ahead
Despite being a small open economy, the impact of global economic slowdown, trade disruptions, unprecedented decline in international tourism and disruption to domestic economic activity during 2020 led to a modest 1.6 percent contraction in Jordan, much less severe than previously anticipated.
Jordan Economic Monitor, Fall 2020: Navigating through Continued Turbulence
The global economy continues to reel from the COVID-19 shock. The initial economic impact of COVID-19 on global output is projected to be far more devastating than the disruptions observed during the peak downturn of the global financial crisis of 2007–09.
Jordan Economic Monitor, Spring 2020: Weathering the Storm
The recent global developments along with domestic disruptions due to pandemic measures are severely impacting the already struggling Jordanian economy and its prospects. The response to this crisis requires a substantial mobilization of resources, and short-term liquidity.
Jordan Economic Monitor, Fall 2017: Towards Stronger External Trade Performance
With a challenging regional outlook and contractionary fiscal and monetary policies in place, it is difficult to foresee a strong recovery in GDP growth without continuation of structural economic reforms in Jordan.
Jordan Economic Monitor, Spring 2017: The Green Economic Boost
Jordan’s economic growth prospects are expected to remain tepid over the medium-term. Yet, Jordan has an opportunity to vitalize green growth and undertake climate action as part of a sustainable solution to addressing Jordan’s fiscal, economic and climate vulnerabilities.
Jordan Economic Monitor, Fall 2016: reviving a slowing economy
Jordan's economic growth has been subdued in the last year as spillovers from regional instability take a toll. Jordan has been managing spillovers from the Syrian crisis including closure of trade routes with Iraq and Syria and hosting more than 656,000 registered Syrian refugees with UNCHR with an estimated 1.3 million Syrians in Jordan as per the census.
Last Updated: Oct 03, 2024
