even
verses of the opening Sura (Al-Fatiha) of the Holy Koran; the seven
points on the star represent faith in One God, humanity, national
spirit, humility, social justice, virtue, and aspirations; design is
based on the Arab Revolt flag of World War I

Economy Jordan

Economy - overview:
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 WTrO (2000), a
free trade accord with the US (2000), and an association agreement
with the EU (2001). These measures have helped improve productivity
and have put Jordan on the foreign investment map. The US-led war in
Iraq in 2003 dealt an economic blow to Jordan, which was dependent
on Iraq for discounted oil (worth $300-$600 million a year). Several
Gulf nations have provided temporary aid to compensate for the loss
of this oil; when this foreign aid expires, the Jordanian government
has pledged to raise retail petroleum product prices and the sales
tax base. Other ongoing challenges include fiscal adjustment to
reduce the budget deficit, broader investment incentives to promote
job-creating ventures, and the encouragement of tourism.

GDP:
purchasing power parity - $23.64 billion (2003 est.)

GDP - real growth rate:
3.1% (2003 est.)

GDP - per capita:
purchasing power parity - $4,300 (2003 est.)

GDP - composition by sector:
agriculture: 3.6%
industry: 29%
services: 67.4% (2003 est.)

Investment (gross fixed):
18.8% of GDP (2003)

Population below poverty line:
30% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: 3.3%
highest 10%: 29.8% (1997)

Distribution of family income - Gini index:
36.4 (1997)

Inflation rate (consumer prices):
2.4% (2003 est.)

Labor force:
1.36 million (2003)

Labor force - by occupation:
agriculture 5%, industry 12.5%, services 82.5% (2001 est.)

Unemployment rate:
16% official rate; actual rate is 25%-30% (2001 est.)