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Following World War I and the dissolution of the Ottoman Empire, the UK received a mandate to govern much of the Middle East. Britain separated out a semi-autonomous region of Transjordan from Palestine in the early 1920s, and the area gained its independence in 1946; it adopted the name of Jordan in 1950. The country's long-time ruler was King HUSSEIN (1953-99). A pragmatic leader, he successfully navigated competing pressures from the major powers (US, USSR, and UK), various Arab states, Israel, and a large internal Palestinian population. Jordan lost the West Bank to Israel in the 1967 war and defeated Palestinian rebels who attempted to overthrow the monarchy in 1970. King HUSSEIN in 1988 permanently relinquished Jordanian claims to the West Bank. In 1989, he reinstituted parliamentary elections and initiated a gradual political liberalization; political parties were legalized in 1992. In 1994, he signed a peace treaty with Israel. King ABDALLAH II, King HUSSEIN's eldest son, assumed the throne following his father's death in February 1999. Since then, he has consolidated his power and implemented some economic and political reforms. Jordan acceded to the World Trade Organization in 2000, and began to participate in the European Free Trade Association in 2001. In 2003, Jordan staunchly supported the Coalition ouster of SADDAM in Iraq and, following the outbreak of insurgent violence in Iraq, absorbed thousands of displaced Iraqis. Municipal elections were held in July 2007 under a system in which 20% of seats in all municipal councils were reserved by quota for women. Parliamentary elections were last held in November 2010 and saw independent pro-government candidates win the vast majority of seats.


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Economy

Economy - overview
Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government''s heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 the government approved two economic relief packages and a budgetary supplement, largely to improve the living conditions for the middle and poor classes. Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at nearly 10% of GDP excluding grants. Amman likely will continue to depend heavily on foreign assistance to finance the deficit in 2012. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation to forestall energy shortfalls.

Gdp (purchasing power parity) World Ranking: 102
$37.37 billion (2011 est.)
$36.47 billion (2010 est.)
$35.64 billion (2009 est.)
Note Data are in 2011 US dollars

Gdp (official exchange rate)
$29.23 billion (2011 est.)

Gdp - real growth rate World Ranking: 136
2.5% (2011 est.)
2.3% (2010 est.)
5.5% (2009 est.)

Gdp - per capita (ppp) World Ranking: 140
$6,000 (2011 est.)
$6,000 (2010 est.)
$6,000 (2009 est.)
Note Data are in 2011 US dollars

Gdp - composition by sector
Agriculture 4.5%
Industry 30.8%
Services 64.7% (2011 est.)

Labor force World Ranking: 124
1.771 million (2011 est.)

Labor force - by occupation
Agriculture 2.7%
Industry 20%
Services 77.4% (2007 est.)

Unemployment rate World Ranking: 129
12.3% (2011 est.)
12.5% (2010 est.)
Note
Official rate; unofficial rate is approximately 30%

Population below poverty line
14.2% (2002)

Household income or consumption by percentage share
Lowest 10% 3.4%
Highest 10% 28.7% (2010 est.)

Distribution of family income - gini index World Ranking: 62
39.7 (2007)
36.4 (1997)

Investment (gross fixed) World Ranking: 74
21.3% of GDP (2011 est.)

Budget
Revenues $5.922 billion
Expenditures $9.593 billion (2011 est.)

Taxes and other revenues World Ranking: 162
20.3% of GDP (2011 est.)

Budget surplus (+) or deficit (-) World Ranking: 207
-12.6% of GDP (2011 est.)

Public debt World Ranking: 45
57.5% of GDP (2011 est.)
57.3% of GDP (2010 est.)
Note
Data cover central government debt, and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions

Inflation rate (consumer prices) World Ranking: 110
4.4% (2011 est.)
5% (2010 est.)

Central bank discount rate World Ranking: 77
0.3% (31 December 2010 est.)
4.75% (31 December 2009 est.)

Commercial bank prime lending rate World Ranking: 110
8.71% (31 December 2011 est.)
8.9% (31 December 2010 est.)

Stock of narrow money World Ranking: 76
$10.18 billion (31 December 2011 est.)
$9.238 billion (31 December 2010 est.)

Stock of broad money World Ranking: 73
$37.39 billion (31 December 2011 est.)
$35.53 billion (31 December 2010 est.)

Stock of domestic credit World Ranking: 71
$30.8 billion (31 December 2011 est.)
$26.44 billion (31 December 2010 est.)

Market value of publicly traded shares World Ranking: 59
$27.18 billion (31 December 2011)
$30.86 billion (31 December 2010)
$31.86 billion (31 December 2009)

Agriculture - products
Citrus, tomatoes, cucumbers, olives, strawberries, stone fruits; sheep, poultry, dairy

Industries
Clothing, fertilizers, potash, phosphate mining, pharmaceuticals, petroleum refining, cement, inorganic chemicals, light manufacturing, tourism

Industrial production growth rate World Ranking: 136
1% (2011 est.)

Electricity - production World Ranking: 85
13.01 billion kWh (2008 est.)

Electricity - consumption World Ranking: 84
11.3 billion kWh (2008 est.)

Electricity - exports
323 million kWh (2008 est.)

Electricity - imports
224 million kWh (2008 est.)

Oil - production World Ranking: 120
87.77 bbl/day (2010 est.)

Oil - consumption World Ranking: 77
98,000 bbl/day (2010 est.)

Oil - exports World Ranking: 166
0 bbl/day (2009 est.)

Oil - imports World Ranking: 60
111,700 bbl/day (2009 est.)

Oil - proved reserves World Ranking: 97
1 million bbl (1 January 2011 est.)

Natural gas - production World Ranking: 75
250 million cu m (2009 est.)

Natural gas - consumption World Ranking: 73
3.1 billion cu m (2009 est.)

Natural gas - exports World Ranking: 122
0 cu m (2009 est.)

Natural gas - imports World Ranking: 42
2.85 billion cu m (2009 est.)

Natural gas - proved reserves World Ranking: 88
6.031 billion cu m (1 January 2011 est.)

Current account balance World Ranking: 155
-$2.863 billion (2011 est.)
-$1.301 billion (2010 est.)

Exports World Ranking: 103
$7.986 billion (2011 est.)
$7.028 billion (2010 est.)

Exports - commodities
Clothing, fertilizers, potash, phosphates, vegetables, pharmaceuticals

Exports - partners
Iraq 15.3%, US 14.7%, India 12.5%, Saudi Arabia 9.6%, Lebanon 4.4% (2011)

Imports World Ranking: 82
$16.21 billion (2011 est.)
$13.68 billion (2010 est.)

Imports - commodities
Crude oil, machinery, transport equipment, iron, cereals

Imports - partners
Saudi Arabia 22.4%, China 10.6%, US 6.2%, Italy 5.1%, Germany 4.2%, Egypt 4.1% (2011)

Reserves of foreign exchange and gold World Ranking: 70
$12.11 billion (31 December 2011 est.)
$13.65 billion (31 December 2010 est.)

Debt - external World Ranking: 101
$7.644 billion (31 December 2011 est.)
$7.645 billion (31 December 2010 est.)

Stock of direct foreign investment - at home World Ranking: 67
$22.42 billion (31 December 2011 est.)
$20.67 billion (31 December 2010 est.)

Stock of direct foreign investment - abroad
$NA

Exchange rates
Jordanian dinars (JOD) per US dollar -
0.71 (2011 est.)
0.71 (2010 est.)
0.709 (2009)
0.709 (2008)
0.709 (2007)

Fiscal year
Calendar year


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  Jordan (Amman):


  GPS points from Jordan (Amman)

Jebel Et Tai Jordan (general)



Himarah Amman

Kalaat Anaize (jo07)



Wadi Ufeihim Jordan (general)




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