The economy of Jordan shrank 3.6 percent year-on-year in the second quarter of 2020, following a 1.3 percent growth in the previous period. It was the worst economic contraction since at least 1993, as the global pandemic hit hard major economic activities. The most affected sectors were restaurants & hotels (-13.4 percent); transport & communications (-9.2 percent); social and personal services (-6.4 percent); construction (-6.3 percent) and manufacturing (-5.3 percent). In contrast, growth was recorded in finance, insurance, real estate and business services (1.5 percent); government services (0.8 percent) and agriculture (0.7 percent).
GDP Annual Growth Rate in Jordan averaged 4.20 percent from 1993 until 2020, reaching an all time high of 10.60 percent in the first quarter of 2007 and a record low of -3.60 percent in the second quarter of 2020. This page provides - Jordan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jordan GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2020.
GDP Annual Growth Rate in Jordan is expected to be 2.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Jordan to stand at 3.30 in 12 months time. In the long-term, the Jordan GDP Annual Growth Rate is projected to trend around 3.30 percent in 2021 and 2.80 percent in 2022, according to our econometric models.