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Jordan Economic Profile

Jordan is a lower-middle-income country located in the Middle East with a population of approximately 10 million and a small-scale economy. The GDP scale is approximately $40 billion, maintaining a medium-sized economic scale in the Arabic-speaking world.

The economic structure is dominated by the service sector, which accounts for approximately 60% of the overall economy. In particular, tourism, financial services, and telecommunications are important sources of foreign currency. As a tourist destination with UNESCO World Heritage sites such as Petra and Nabataean monuments, the country receives many international tourists annually. In manufacturing, food processing, pharmaceuticals, and chemicals have developed, serving as export bases for the Middle East region. Agriculture is limited, contributing approximately 3% to domestic GDP.

Regarding recent economic trends, amid the influx of Syrian and Palestinian refugees straining social infrastructure, the government is focusing on economic reform and job creation. Since 2023, austerity policies aimed at easing inflationary pressures and reducing fiscal deficits have been implemented. Additionally, investment in renewable energy, particularly solar power, is increasing, targeting improved energy self-sufficiency.

There are multiple key points to note. First is the refugee issue. The acceptance of a large number of refugees, including approximately 750,000 Syrian refugees, has brought fiscal strain and unemployment problems. Second is the serious shortage of water resources. As one of the countries with the least water in the Middle East, it is a constraining factor on agricultural and industrial development. Third is geopolitical risk. The country is susceptible to the impact of conflicts in surrounding regions, which could lead to decreased tourism and reduced investment.

While Jordan faces structural challenges, it possesses strengths including strategic geographic location, relative political stability, and capable workforce, maintaining its position as an important economic partner in the Middle East.