In Jordan, significant economic reforms implemented by King Abdallah have contributed to a moderate yet stable economic growth of around 3% per year and a GDP of approximately 34 billion USD.
Trade figures with the Netherlands, however, are relatively modest: 267 million EUR worth of exports (mostly machineries and chemical products) and 23 million EUR worth of imports (mainly raw materials) from Jordan. Nevertheless, the relations between Jordan and other MENA countries are excellent on various fronts, such as between the trade communities. In 2013, Jordan was the 46th country to adhere to the OECD Declaration on International Investment and Multinational Enterprises, which aims to promote mutual investment between Jordan and other adhering countries.
Around 14% of Jordan’s GDP is derived from Telecommunications, with fixed-line, mobile and data service generating jobs to around 16,000 people in over 400 companies and key representatives. Due to the telecom liberalization in 2001, Jordan’s IT sector is the most developed and competitive in the region.
The Transport sector also flourishes, contributing to 10% of the country’s GDP. The government invests much in improving, modernizing and privatizing the sector. The Banking sector is regionally and internationally widely regarded as advanced. In total, more than 70% of the GDP is accounted for by Services. Energy, however, continues to be a challenging sector for Jordan’s economy, since the country lacks domestic resources and relies heavily on imports. Water is also scarce in most parts of the country. MENA countries knowledge of water management has much to contribute to Jordan in this perspective.