Jordanian economy expands 2.9% in Q4

30 Mar 2010

(MENAFN) Reuters reported that Jordan’s economic growth has accelerated in the fourth quarter of 2009, growing 2.9 percent from a year earlier and beating a 2.1 percent rise in third-quarter gross domestic product (GDP).

The economy expanded 2.8 percent in 2009 as a whole, the statistics department said, slowing from 7.8 percent growth in 2008 and its worst performance since an economic crisis in 1989 when the country was forced to seek help from the International Monetary Fund. The government had originally forecast growth of 3.8 percent last year.

The construction sector rebounded in the fourth quarter of last year, growing 12.8 percent from a year earlier while the transport, storage and communications sector rose 11 percent.

Manufacturing grew just 1.8 percent and the retail and wholesale sectors grew a modest 2.7 percent in fourth quarter but government services expanded by 6.8 percent, while the finance, insurance and real estate sectors rose by 5.3 percent.

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