Jordan's economy expanded 1.8 percent year-on-year in the fourth quarter of 2018, compared to a 2 percent expansion in the prior period. It was the weakest growth rate since the last quarter of 2017, as output rose less for: manufacturing (1.2 percent from 1.9 percent in Q3); utilities (1.8 percent from 2.4 percent); restaurants & hotels (0.7 percent from 0.9 percent); wholesale and retail trade (1.3 percent from 1.4 percent); and real estate (2.4 percent from 2.5 percent). In addition, mining & quarrying fell 3.1 percent (from 2.1 percent in Q3) and construction activity shrank 0.3 percent (vs -0.4 percent in Q3). In contrast, output increased further for transport, storage & communications (3.6 percent from 2.8 percent); finance & insurance services (3.1 percent from 3.0 percent); and for agriculture, hunting, forestry & fishing (3.1 percent from 2.9 percent). Considering 2018 as a whole, the economy grew 1.9 percent, slower than 2.1 percent in 2017. GDP Annual Growth Rate in Jordan averaged 4.42 percent from 1993 until 2018, reaching an all time high of 10.58 percent in the first quarter of 2007 and a record low of -1.11 percent in the first quarter of 1996.
GDP Annual Growth Rate in Jordan is expected to be 2.10 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 2.30 in 12 months time. In the long-term, the Jordan GDP Annual Growth Rate is projected to trend around 2.60 percent in 2020, according to our econometric models.