Real Estate Trading in Jordan Rises by 4% in the First Third of the Year - Jordan News
The estimated value of sales to non-Jordanians rose by 9% in the first third of 2025 compared to the same period in 2024, totaling 65 million dinars. In April alone, the estimated value surged by 56% compared to April 2024 and by 22% compared to March, reaching 16 million dinars.
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Jordan News
4 days ago
- Jordan News
Jordan's Central Bank Governor Projects Over 4% Medium-Term Economic Growth - Jordan News
Governor of the Central Bank of Jordan, Dr. Adel Al-Sharkas, affirmed that the national economy continues to grow steadily despite regional geopolitical challenges, thanks to a comprehensive economic modernization vision that redefined Jordan's approach to reform. اضافة اعلان Speaking during a policy dialogue organized by the Jordan Strategy Forum titled "Reform, Stability, Resilience: The Economic Trinity in a Changing World", Al-Sharkas emphasized the transition from reactive, short-term policy approaches to a proactive and integrated strategy aimed at enhancing economic resilience and sustainability. Key Highlights: Growth Outlook: The Central Bank estimates real GDP growth at 2.7% for 2025, with projections exceeding 4% by 2028, driven by large-scale infrastructure projects tied to the Economic Modernization Vision. Macroeconomic Resilience: Jordan's economy is backed by a robust monetary and fiscal framework, institutional strength, and a sound banking sector. These fundamentals have garnered growing international investor confidence, reflected in the declining yields of Jordan's Eurobonds in secondary markets. Growth Performance (2021–2024): The average growth rate stood at 2.9%, the highest since 2010, attributed to improvements in productivity, technological adoption, and human capital development. Investment contributed 40% to this growth, while the external sector accounted for 38%. Export & Energy Performance: National exports reached new markets, with non-traditional exports contributing 20.9% of GDP in 2024, up from 16.2% in 2016. Meanwhile, energy import costs dropped to 7% of GDP, down from a third in 2012, due to diversified energy sources and long-term gas agreements. Tourism and FDI: Despite a slight dip in June due to regional tensions, tourism revenues rose 11.9% in H1 2025, reaching $3.7 billion, with expectations to hit $7.7 billion by year's end. FDI inflows amounted to $1.6 billion (3.1% of GDP) in 2024, and remittances from Jordanians abroad rose to $3.6 billion, projected to reach $3.7 billion in 2025. Monetary Stability: Inflation was kept around 2% in H1 2025. The Jordanian dinar remains strong, supported by $22 billion in foreign reserves, covering 8.4 months of imports. The banking sector continues to expand credit facilities, with loans rising to JOD 35.3 billion in May 2025 and total deposits hitting JOD 47.7 billion. Financial Inclusion & Digital Payments: The Central Bank increased financial inclusion to 43.1% by 2022 and aims for 65% by 2028, while closing the gender gap from 53% to 22%. Digital transactions grew significantly, with over 537 million transactions totaling JOD 55.3 billion in 2024—equivalent to 146% of GDP. Fiscal Outlook: The government aims to reduce the primary deficit to 2% of GDP by 2025, targeting a primary surplus by 2027. The public debt-to-GDP ratio is expected to fall below 80% by 2028. Forward-Looking Plans: Preparations are underway for the 2026–2029 Executive Program of the Economic Modernization Vision, with new initiatives focusing on digitization, fintech, innovation, and expanded financial inclusion. Sectoral Collaboration & Private Dialogue Jordan Strategy Forum Chair Sharif Fares Sharaf emphasized the need for resilient policies amid global instability, while Executive Director Nisreen Barakat reaffirmed the Forum's role in facilitating evidence-based policy discussions. The session also featured input from Nadia Al-Saeed, who stressed the importance of regulatory clarity and effective banking oversight. Topics discussed included virtual asset legislation, SME support, and public-private partnerships in navigating economic uncertainties. Governor Al-Sharkas concluded with a direct Q&A session, addressing key economic concerns raised by forum participants and reaffirming the Central Bank's commitment to sustainable and inclusive growth.
Jordan News
5 days ago
- Jordan News
National Exports Grow by 9.2% in First Five Months of 2025 - Jordan News
National Exports Grow by 9.2% in First Five Months of 2025 Jordan's national exports rose by 9.2% during the first five months of 2025, while re-exports increased by 2.3%, compared to the same period in 2024, according to the monthly foreign trade report released by the Department of Statistics. اضافة اعلان The report indicated that total exports rose by 8.5% during the same period. This growth occurred alongside an 8.6% increase in imports, resulting in an 8.6% rise in the trade deficit during the first five months of 2025 compared to the same period in 2024. The total export value during this period reached 3.938 billion Jordanian dinars, with 3.578 billion dinars from national exports and 360 million dinars from re-exports. Meanwhile, imports totaled 8.135 billion dinars. As a result, the trade deficit (the difference between total exports and imports) reached 4.197 billion dinars in the first five months of 2025, up from 3.865 billion dinars during the same period in 2024. In May 2025 alone, total exports amounted to 901 million dinars, including 826 million dinars in national exports and 75 million dinars in re-exports. Imports for the same month stood at 1.581 billion dinars, resulting in a trade deficit of 680 million dinars for May. Compared to May 2024, total exports increased by 2.4%, with national exports rising 4.8%. However, re-exports fell by 18.5%, and imports decreased by 5.6%, leading to a 14.5% reduction in the trade deficit for the month. Export Coverage Ratio The export-to-import coverage ratio stood at 48% for the first five months of 2025—the same as in the same period in 2024. For May alone, the coverage ratio rose to 57%, up from 53% in May 2024—an improvement of 4 percentage points. Sectors Driving Export Growth The increase in national exports was primarily driven by sectors such as: Apparel and related accessories Nitrogen or chemical fertilizers Pharmaceutical preparations Raw potash These gains helped offset declines in: Precious jewelry Raw phosphate On the imports side, increases were recorded in: Precious jewelry Machinery and mechanical tools Electrical equipment Grains However, decreases in crude oil and derivatives and vehicles and motorcycles helped curb the overall rise in imports. Key Trade Partners Jordan's national exports rose to several key regions and countries, including: Greater Arab Free Trade Area countries (notably Saudi Arabia) North American Free Trade Agreement (NAFTA) countries, including the United States Non-Arab Asian countries, such as India European Union countries, including Italy Imports also increased from the same regions and partners, particularly: Saudi Arabia The United States China Italy This data reflects broader trends in Jordan's trade landscape and underscores the country's growing engagement with key global and regional markets.
Jordan News
6 days ago
- Jordan News
185,000 Jordanians Entered the Labor Market, 89,500 Exited in 2024 — Jordan Economic Forum - Jordan News
The Jordan Economic Forum released a fact sheet on Saturday titled 'New Jobs in Jordan in 2024: Where Are They Concentrated and Who Are They Created For?', analyzing net job creation as a key metric of the economy's ability to absorb new labor market entrants and reduce unemployment. اضافة اعلان According to the fact sheet, 184,926 individuals aged 15 and above joined the labor market in 2024, while approximately 89,584 exited, resulting in a net job creation of 96,421. This figure represents 96.4% of the annual target set under the Economic Modernization Vision, reflecting tangible efforts to foster sustainable employment and improve living standards. Gender & Sector Distribution Males accounted for 69.3% of the new jobs (66,804 jobs), while females made up 30.7% (29,617 jobs). 75.7% of jobs were created in the private sector, underscoring the impact of economic reforms. Public sector jobs made up 23.6% of the total. Jobs by Nationality The majority of the new jobs — 90% — went to Jordanian nationals, with 6.2% going to non-Jordanian Arabs and 3.7% to non-Arab foreigners, indicating a focus on employing the domestic workforce. Sectoral Breakdown The largest shares of new jobs were concentrated in: Manufacturing and wholesale/retail trade (each 15.4%) Public administration and defense (14.6%) Education (11.5%) Health (10.2%) This reflects a balanced contribution from both productive and service sectors, especially those with direct social impact. Geographic Distribution Amman led with 56.6% of net job creation. Zarqa followed with 11.6%, then Irbid with 9.5%. Ajloun had the lowest share at 0.4%. Unemployment Trends Despite progress, unemployment only dropped slightly from 22% in 2023 to 21.4% in 2024, suggesting that job creation — although near target — had a limited immediate impact on unemployment due to rising numbers of job seekers and graduates. Forum President's Remarks Forum Chairman Mazen Al-Hamoud stressed the need to: Continue supporting high-potential job-generating sectors. Invest in underdeveloped governorates. Focus on job quality and sustainability. He highlighted that the data indicates the Jordanian economy is becoming more dynamic in job creation, reflecting the positive outcomes of national policy and stimulus programs. However, continued effort is crucial to meet the broader goals of the Economic Modernization Vision, especially in integrating youth and new labor market entrants.
