Ammon News - Jordan’s economy expanded by a solid 2.7% in the fourth quarter of 2024 compared to the same period the previous year, according to figures released by the Department of Statistics. This growth exceeded expectations, surpassing the 2.5% forecast.

On a full-year basis, GDP growth reached 2.5%, outpacing the initial projection of 2.3%—a notable achievement given the wider regional instability and economic headwinds affecting much of the Middle East. The data reflects the country’s ability to weather external shocks, largely credited to sound government policies and effective collaboration between public and private sectors, which have turned challenges into opportunities across various industries.

Manufacturing was the standout performer, growing by 9.4% and contributing 0.9 percentage points to overall GDP. Agriculture also showed strong momentum with an 8.4% rise, while extractive industries and utilities grew by 4.5% and 4.2%, respectively—both exceeding expectations.

In the services sector, transport and logistics rose by 3.7%, while retail and hospitality grew by 3.1%, continuing to show steady performance.

Commodity-producing sectors were the main growth drivers, contributing 1.6 percentage points to the total GDP increase—significantly ahead of the 1.1 percentage point contribution from service-related activities.

In terms of economic composition, manufacturing now accounts for 18.7% of Jordan’s GDP, followed by financial services and real estate at 17.2%, and government services at 14.8%.