Economy of Jordan

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Governorates · Cities
Transport · The Mediterranean
Dead Sea · Red Sea · Amman

Hashemites · Transjordan · Black September
Sykes-Picot Agreement · Mandate of Palestine · PLO

1948 War · Six-Day War
Peace treaties with: Israel

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Music of Jordan · Sports in Jordan
University of Jordan · Arabic · Famous Jordanians

Islam in Jordan · Christianity in Jordan

Kings · Prime Ministers · Samir Rifai
King Abdullah II

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Portal: Jordan

Jordan is a small country with limited natural resources, but has improved much since its inception as a country. Its current GDP per capita soared by 351% in the Seventies. But this growth proved unsustainable and consequently shrank by 30% in the Eighties. But it rebounded with growth of 36% in the Nineties. Just over 10% of its land is arable, and even that is subject to the vagaries of a limited water supply. Rainfall is low and highly variable, and much of Jordan's available ground water is not renewable. 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. Lacking coal reserves, hydroelectric power, large tracts of forest or commercially viable oil deposits, Jordan relies on natural gas for 10% of its domestic energy needs. Jordan used to depend on Iraq for oil until the Iraq invasion in 2003 by the United States. Jordan is also classified as an emerging market.

Since King Abdullah II's accession to the throne in 1999, liberal economic policies have been introduced which has resulted in a boom lasting for a decade continuing even through 2009. Jordan is now one of the freest and most competitive economies in the Middle East scoring higher than the United Arab Emirates and Lebanon. Jordan's developed and modern banking sector is becoming the investment destination of choice due to its conservative bank policies that helped Jordan escape the worst of the global financial crisis of 2009. With instability across the region in Iraq and Lebanon, Jordan is emerging as the "business capital of the Levant" and "the next Beirut". Jordan's economy has been growing at an annual rate of 7% for a decade.

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