Jordan, with a population of 11,285,869, is ranked 80th in the world, just behind Haiti. Located in the Middle East, it covers a total area of 89,318 square kilometers, ranking 107th globally, just below Portugal.
Jordan’s economic position in 2022 shows a GDP of $48,653,381,780.64, ranking 89th globally, trailing behind Sudan with a GDP of $51,662,241,775.06. The GDP per capita for Jordan in 2022 is $4,311.00, placing it at the 118th position, behind Algeria with a GDP per capita of $4,342.64.
Despite facing challenges, Jordan continues to strive for economic growth and stability, focusing on sectors like tourism, agriculture, and technology to drive its economy forward.
What are the economic activities of Jordan?
- Primary activities: 4.5% of GDP.
- Secondary activities: 28.8% of GDP.
- Tertiary activities: 66.6% of GDP.
Primary Sector of Jordan
Jordan’s primary sector, dominated by agriculture, thrives due to its diverse climate and natural resources. With 11.52% of the land dedicated to agriculture, the country produces a variety of crops and animal products. Top products include tomatoes, milk, chicken, potatoes, and olives.
Despite contributing 4.5% to the GDP, agriculture plays a crucial role in Jordan’s economy. The sector’s significance lies in the variety of crops and animal products it produces, sustaining the country’s agricultural sector and ensuring food security.
Jordan’s diverse geology contributes to abundant natural resources such as phosphates, potash, and shale oil. These resources drive the economy through mining and export industries, supporting economic growth and development.
Jordan’s gas production of 151 million m³ in 2020, ranking 80th globally, plays a crucial role in the country’s economic activity.
Secondary Sector of Jordan
What is the secondary sector or what are secondary activities?
The secondary sector involves industries that transform raw materials from primary activities into finished products for consumption. In Jordan, main industrial products include information technology, clothing, fertilizer, potash, phosphate, pharmaceuticals, petroleum refining, cement, inorganic chemicals, and light manufacturing.
Manufactures play a crucial role in Jordan’s total exports, accounting for 75.67% in 2023. This highlights the significant contribution of the manufacturing sector to the country’s economy.
Tertiary sector of Jordan
What is the tertiary sector or what are tertiary activities?
The tertiary sector in Jordan encompasses a wide range of services that focus on knowledge and expertise to enhance productivity and meet various needs. Key activities include healthcare, education, banking, communication, tourism, transportation, and security services. These sectors play a crucial role in contributing to the country’s economic growth and development by providing essential services to both consumers and businesses.
Specifically, Jordan’s tourism sector plays a pivotal role in its economy, contributing significantly to GDP and employment. With an impressive 5,361,000 annual arrivals (0.475 tourists per capita), popular destinations like the ancient city of Petra and the Dead Sea attract visitors worldwide, boosting foreign exchange earnings and economic growth.
Another example of tertiary economic activity is the mobile cellular sector, with approximately 7.6 million subscriptions, supporting technological growth. This connectivity fosters innovation, enhances communication, and drives digital services.
Military Activities and Economic Sectors of Jordan
The military is a strong example of many economic activities. In the primary sector, resources are extracted for military use, like metals for weapons. The secondary sector includes the manufacturing of military equipment, such as vehicles and weapons. The military also provides services in the tertiary sector, like training and logistics. Research and development in the quaternary sector help improve technology, while high-level decisions in the quinary sector shape military strategy.
In Jordan, the military expenditure for 2023 is $2,450.2 million, which is 4.84% of the country’s GDP. The active military force consists of 100,500 personnel. This means there are about 17.3 active military members for every 1,000 people in the country.
Biggest company in Jordan
Which is the biggest company in Jordan? The largest is Arab Bank Group, with a market value of $4.29 billion. It operates in the banking industry, which is part of the tertiary economic sector. Arab Bank was founded in 1930, making it a long-established institution in the region.
International Trade of Jordan
Import Activities of Jordan
Jordan’s import activities are of high importance, with total imports in 2023 reaching $25.7 billion, equivalent to 52.84% of its GDP.
Jordan’s import activities are diverse, with key partners such as China, UAE, Saudi Arabia, India, and the US. The country mainly imports refined petroleum, cars, gold, crude petroleum, and jewelry, reflecting its reliance on energy resources and luxury goods.
Exports Activities of Jordan
Jordan’s export activities in 2023 totaled $12.59 billion, representing 25.88% of its GDP. This medium-high importance signifies a significant contribution to the country’s economic growth and stability.
Jordan’s export activities are diverse, with key partners including the US, India, Saudi Arabia, China, and Iraq. Major export commodities include fertilizers, garments, phosphates, jewelry, and phosphoric acid.
Jordan economy challenges in 2024
Jordan, with a population of 11,285,869, is ranked 80th in the world, just behind Haiti. Located in the Middle East, it covers a total area of 89,318 square kilometers, ranking 107th globally, just below Portugal. In 2024, Jordan faces challenges of low growth, high debt, and unemployment, especially among youth and women. As a key US foreign assistance recipient, it struggles with being natural resource-poor and import-reliant.
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