Skip to content Skip to Search
Skip navigation

Jordan’s economy grows 2% despite regional challenges

Jordan's extractive industries sector reported the highest growth at 6.3%, contributing 0.18% to GDP Unsplash.com
Jordan's extractive industries sector reported the highest growth at 6.3%, contributing 0.18% to GDP

Jordan’s gross domestic product (GDP) grew 2 percent year on year in the first quarter of 2024 despite regional geopolitical challenges, the state-run Jordan News Agency (Petra) reported.

The extractive industries sector reported the highest growth at 6.3 percent, contributing 0.18 percent to GDP. Following this, the agriculture sector grew by 5.7 percent, the electricity and water sector increased by 4.8 percent and the manufacturing sector expanded by 3.9 percent.

Additionally, domestic revenues reached JD2.04 billion ($2.9 billion), marking an increase of JD45.6 million, which covers current expenditures by 85 percent. Tax revenues increased by JD61.7 million during the period.



The total spending of the central government/budget amounted to JD2.49 billion in the first quarter of 2024, compared to JD2.39 billion a year ago.

The general budget recorded a financial deficit of JD429 million, compared to about JD381 million in the previous year.

In January, the International Monetary Fund (IMF) approved a $1.2 billion, four-year loan programme to support Jordan’s economic and financial reforms.

“Jordan has weathered well a series of shocks over the past few years, maintaining macro-stability and moderate economic growth thanks to adept policy making and sizable international support,” said Kenji Okamura, the IMF’s deputy managing director and acting chair.

Prudent fiscal and monetary policies have reduced deficits, strengthened reserve buffers, preserved financial stability, and maintained market confidence in a challenging global and regional environment, Okamura said.

Latest articles

People, Person, Groupshot APQ CEO Ebubekir Koyuncu (sitting left) and Aramco acting senior vice president of new business development Mohanad M Alamdar at the signing ceremony

Saudi Aramco bolsters blue hydrogen portfolio 

Saudi Aramco has acquired a 50 percent stake in Jubail-based Blue Hydrogen Industrial Gases Company (BHIG), a wholly-owned subsidiary of Air Products Qudra. No financial details were disclosed. The transaction, subject to standard closing conditions, includes options for the oil giant to offtake hydrogen and nitrogen.  The remaining 50 percent will be owned by APQ, […]

Egypt's SCA is seeking revenue of $9 billion from the Suez Canal operation in 2024/2025, 25 percent more than the previous year

Egypt to float Suez Canal subsidiary next year

Egypt’s Suez Canal Authority (SCA) is planning to list Canal Mooring & Lights Company, a specialist in the mooring and unmooring of ships, on the local bourse, a news report said. The proposed listing will take place early next year, Bloomberg Ashraq reported, quoting SCA’s chairman Osama Rabie. In June 2023, the official confirmed the […]

Aircraft, Transportation, Vehicle

Near-space balloon flights to start from Abu Dhabi next year

European space exploration company Eos-X Space will begin operating balloon flights to the edge of space from Abu Dhabi in the third quarter of 2025, as it aims to gain a bigger stake in the $9 billion space tourism industry. The UAE capital will host the launch facility and spaceport, including a hotel complex on […]

A view of Park Hyatt Abu Dhabi hotel and villas. Abu Dhabi National Hotels has invested AED100m in rebranding five hotels in Dubai

Abu Dhabi National Hotels hires banks for catering unit IPO

Abu Dhabi National Hotels, which trades on the Abu Dhabi stock exchange, has appointed banks to work on the initial public offering of its catering business, according to a news report. Citigroup and First Abu Dhabi Bank will oversee on the flotation of ADNH Catering, raising between $300 million and $400 million, Bloomberg reported, citing […]