The economic situation in Jordan 2022

Report on the economic situation in Jordan 2022

Economic growth in Jordan expanded in 2021, and this came as a result of the significant expansion in the services and industrial sectors, along with a strong recovery in the tourism sector and many other sub-sectors. Supportive government measures have contributed to strengthening the country's economy. Although the economic recovery did not lead to the creation of significant job opportunities, the total unemployment rate in Jordan reached about 23% at the end of 2021, compared to the pre-pandemic level, which was 19% at the end of 2019.

The GDP growth rate in October 2022 was 2.9%, which is considered strong growth influenced by the supportive monetary and fiscal policies adopted by the government. However, rising commodity prices, supply chain bottlenecks and the impact of a war in Ukraine pose significant downside risks to the economic outlook.

The inflation rate in November 2022 recorded 5.2%, and the inflation rate in Jordan is considered relatively high, as the Consumer Price Index in October 2022 recorded (108.30) points. As for food inflation, it reached 3.05%. Jordan is one of the countries with relatively high rates of food inflation, and recorded a monthly inflation rate of (-10.%) in the same period.

Regarding unemployment rates, it recorded a rate of 22.6% in September 2022. The following table shows the most important economic indicators for the State of Jordan in 2022:

the average Indicator
2.9% GDP growth rate
Million dinars.1324 GDP from manufacturing
Million dinars.219 GDP from construction
Million dinars.283 GDP from agriculture
5.3% Inflation rate
points.108.30 Consumer price index
%3.05 Food inflation
22.6% Unemployment rate

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