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Home :: Trade Leads By Country : Jordan



JORDAN

Jordan, Countries by TradeJordan, Countries by Trade

Introduction

The history of this country since independence from British administration in 1946, Jordan was ruled by King HUSSEIN (1953-99). A pragmatic ruler, he successfully navigated competing pressures from the major powers (US, USSR, and UK), various Arab states, Israel, and a large internal Palestinian population, despite several wars and coup attempts. In 1989 he again conducted parliamentary elections and gradual political liberalization; in 1994 he signed a formal peace treaty with Israel. King ABDALLAH II - the eldest son of King HUSSEIN and Princess MUNA - assumed the throne following his father's death in February 1999. Since then, he has consolidated his power and undertaken an aggressive economic reform program. Jordan acceded to the World Trade Organization in 2000, and began to participate in the European Free Trade Association in 2001. After a two-year delay, parliamentary and municipal elections took place in the summer of 2003. The Prime Minister and government appointed in April 2005 declared they would build upon the previous government's achievements to respect political and human rights and improve living standards.


Business and Economy

Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. Debt, poverty, and unemployment are fundamental problems, but King ABDALLAH, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Amman in the past three years has worked closely with the IMF, practiced careful monetary policy, and made substantial headway with privatization. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTO (2000), a free trade accord with the US (2001), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. Jordan imported most of its oil from Iraq, but the US-led war in Iraq in 2003 made Jordan more dependent on oil from other Gulf nations forcing the Jordanian government to raise retail petroleum product prices and the sales tax base. Jordan's export market, which is heavily dependent on exports to Iraq, was also affected by the war but recovered quickly while contributing to the Iraq recovery effort. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the budget deficit, and creating investment incentives to promote job creation. But the economy is growing ao its own strength and the country is progressing steadily.


Major Cities

The major cities of this country are Aaman, Al-zarqa,Irbid,and Ar-ruoyafah.These cities are the major revenue churners for the country. These are the strategic towns that attract maximum business and tourists and generate the maximum revenue.There is a lot of beauty in these places and a tourist will never come back dissatisfied from this country. The investment proposals of this country are also very healthy and the policies of the Government are very promising.All in all, this is a great country to visit both for tourism and for business.


Fact Sheet

Location: Middle East, northwest of Saudi ArabiaMiddle East, northwest of Saudi Arabia.
Geographic coordinates: 31 00 N,3600E
Area : total: 92,300 sq km
land: 91,971 sq km
water: 329 sq km
Climate: mostly arid desert; rainy season in west (November to April)
Natural resources : phosphates, potash, shale oil
Population: 5,759,732 (July 2005 est.)
Population growth rate: 2.56% (2005 est.)
Birth rate: 21.76 births/1,000 population (2005 est.)
Death rate: 2.63 deaths/1,000 population (2005 est.)
GDP - real growth rate: 5.1% (2005 est.)
Labour Force: 1.41 million (2005 est.)
Unemployment rate: 15% official rate; unofficial rate is approximately 30% (2005 est.)
Population below poverty line: 30% (2001 est.)
Exports : $3.2 billion f.o.b. (2005 est.)
Imports: $7.6 billion f.o.b. (2005 est.)




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