The growth rate is expected to reach 3.4% in 2010 compared to 2.3% in 2009. This acceleration in the growth rate stems mainly from the domestic credit improvement and the acceleration of trade and investment indicators along with the optimistic regional and international economic outlook. The most recent figures about foreign currency reserves at the CBJ (the end of October 2010) show that these reserves sustained their level at $11.2 billion since 2009. Moreover, the credit facilities granted by the licensed banks resumed their growth and reached 5.2% at the end of the last nine months of 2010 after a substantially low rate because of the repercussions of the crisis. The external sector indicators revealed a positive performance; the tourism income and the remittances grew by 20.1% and 1.5% in the first nine months of 2010, compared to a decline of 0.4% and 6.5% in the first nine months of 2009 respectively. The national exports grew by 16% during the first eight months of 2010 compared to a decline of 19.2% during the same period of the preceding year. Similarly, the budget deficit showed a remarkable improvement during the first eight months and declined by 43.5% compared to a year back.
In addition to the large-scale industries in Jordan which include mining, Cement, fertilizers and refined petroleum. Jordan, today has been focusing on high value added manufacturing industries such as foodstuff, pharmaceuticals, paints, cosmetics (Dead Sea products), chemicals & other consumer products.
Major Jordanian imports are foodstuff, machinery, and transport equipment, manufactured goods, mineral fuels and lubricants. While the main exports are mineral and mineral-related products (potash and phosphate), foodstuff, chemicals (paints, detergents, pharmaceuticals), cosmetics (Dead Sea Products), handcrafts, textiles (carpets, rugs, clothes) & plastic products.
Jordan's main trade partners are European Union countries, United States, Japan, Arab countries, & India.
For further information please contact the Central Bank of Jordan at the following address:
Central Bank of Jordan