Jordan’s Economy in International Economic Indicators (2019-2024)
This study is part of the analytical research series issued by Performance Index Center| KAFA’A, aiming to provide a comprehensive assessment of Jordan’s position in key international economic indicators during the period 2019–2024. The study focuses on tracking national performance across major economic domains and linking these trends to recent developments in the Jordanian economy. It relies on official data and reports published by international financial institutions and specialized research centers.
The study seeks to evaluate Jordan’s standing in international indicators related to economic growth, investment, labor market performance, public finance, competitiveness, economic freedom, and human development. This comes within the framework of monitoring progress in implementing the Economic Modernization Vision 2022, which serves as a national roadmap to promote inclusive growth, generate employment opportunities, and improve the investment climate.
The analysis draws on official data from the Central Bank of Jordan and the Department of Statistics, in addition to reports from the World Bank and the International Monetary Fund (IMF), as well as international indices issued by institutions such as the Legatum Institute and the Heritage Foundation. A quantitative analytical approach was adopted to measure changes in key economic indicators and compare Jordan’s performance at regional and global levels, in order to identify strengths and challenges facing the national economy.
Key Findings:
- GDP Growth: Jordan’s Gross Domestic Product increased from JOD 30.1 billion in 2019 to JOD 37 billion in 2024, with an average growth rate of 2.5%, highlighting the need for deeper structural reforms to enhance productivity and investment.
- Unemployment: The unemployment rate remained high at around 21%, despite a slight decline over recent years, reflecting persistent challenges in job creation.
- Foreign Direct Investment (FDI): FDI inflows rose to USD 1.6 billion in 2024, supported by improvements in the investment environment and updated business legislation.
- Public Finance: The fiscal deficit stabilized at 5.6% of GDP, while public debt remained above 90%, signaling the need for more efficient public spending and fiscal reforms.
- Human Development: Jordan’s Human Development Index (HDI) improved to 0.754 in 2023, indicating progress in education, health, and living standards.
- Economic Freedom: The Economic Freedom Index declined to 58 points in 2024, revealing ongoing structural and regulatory barriers affecting market flexibility and trade openness.
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