What is Jordan economy based on?

Jordan’s economic resource base centers on phosphates, potash, and their fertilizer derivatives; tourism; overseas remittances; and foreign aid. These are its principal sources of hard currency earnings.

What is the most economic sector in Jordan?

The industrial sector is a high contributor to Jordan’s GDP as it contributed approximately with 24\% in 2017, employing more than 240,000 people, most of them Jordanians, in some 18,000 industrial facilities across the Kingdom. The importance of Jordan’s industrial sector is considerable.

Is economy in Jordan good?

Jordan’s economic freedom score is 64.6, making its economy the 69th freest in the 2021 Index. Jordan is ranked 6th among 14 countries in the Middle East and North Africa region, and its overall score is above the regional and world averages.

Is Jordan a market economy?

Jordan has a free market-driven economy, with outward-oriented economic policies and an approach led by the private sector. It is a service-oriented economy, where the services sector constitutes 67.6\% of the total GDP.

What is Jordan known for producing?

Jordan’s primary exports are clothing, chemicals and chemical products, and potash and phosphates; the main imports are machinery and apparatus, crude petroleum, and food products.

What is the unemployment in Jordan?

Currently, the overall unemployment rate among Jordanians is 25\%. Unemployment among those aged 20-24 and 25-29 is even higher, reaching 61.5\% and 36.5\% respectively.

What kind of nation is Jordan?

The sovereign state is a constitutional monarchy, but the king holds wide executive and legislative powers. Jordan is a semi-arid country, covering an area of 89,342 km2 (34,495 sq mi), with a population of 10 million, making it the eleventh-most populous Arab country.

Is Jordan a developed nation?

Jordan is a developing country with a relatively small economy and of a low per capita income and high unemployment rate. Jordan is an open economy; Agriculture in Jordan is natural disaster prone, mainly due to cyclic droughts and unpredictable frosts.

How much is Jordan in debt?

In 2019, the national debt of Jordan amounted to around 34.77 billion U.S. dollars.

What is the main economic activity for Jordan?

Jordan’s economic resource base centers on phosphates, potash, and their fertilizer derivatives; tourism; overseas remittances; and foreign aid . These are its principal sources of hard currency earnings.

What is the growth rate of Jordan?

Jordan Population Growth. Jordan is currently experiencing rapid growth with an annual growth rate of 2.2\%. It’s estimated that Jordan’s population will continue its growth until it reaches 9.9 million in 2050.

Is Jordan a poor country?

No, not all Jordanians are poor. The average life is good given that some areas are still cheap (specially housing). In general, economical situation in Jordan is a little bit tough but you can’t consider Jordan a poor country.

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