Macroeconomic indicators since the beginning of the year showed improvement, and that the Kingdom is on a path to recovery despite the difficulties still being imposed by the coronavirus pandemic, according to latest data.

The data collected by Petra over different periods of this year, revealed that 'the economy is spinning its wheels and moving in a positive direction, driven by the return of economic sectors to business and the relaxing of pandemic-related measures.'

According to the data, which was based on figures from the Department of Statistics and the Association of Banks in Jordan (ABJ), the profits of shareholding companies listed on the Amman Stock Exchange (ASE) saw significant improvement during the first half of the year, climbing to JD503 million, compared with JD118 million during the same period last year, with a 328 per cent increase.

GDP constant price growth was at 0.3 per cent during the first quarter of this year, compared to the first quarter of 2020, it showed.

The extractive industries sector emerged with the highest growth rate during the first quarter, recording 15.3 per cent, agriculture was at 2.9 per cent, followed by the finance, insurance and business services sector at 2.1 per cent, and the government sector at 0.1 per cent, according to the data.

It also revealed domestic revenues saw remarkable improvement in the past five months of the year, surging about JD849 million, or 38 per cent, compared with the same period last year.

Tax revenues during the past five months of the year rose to about JD541 million dinars, as well as non-tax revenues, which also shot up about JD308 million, compared to the same period last year, according to the data.

It also pointed out that the fiscal deficit in the past five months of the year dropped by about JD462 million, reaching JD636 million, compared to the same period last year.

The real estate trade volume until the end of July of the year was up 6 per cent, rising to JD2.602 billion, compared to the same period in 2019, the data showed.

Central Bank of Jordan (CBJ) foreign currency reserves during the month of June this year stood at $15.529 billion, compared to $15.920 billion at the end of last year, that cover imports for a period of 8.7 months, according to the statistics.

Total bank deposits in the Kingdom by the end of last June were at JD37.699 billion, growing by 2.4 per cent, compared to the end of last year, and total credit facilities by the Kingdom's banks by the end of June was at JD29.757 billion, growing by 3.9 per cent, compared to the end of last year, it showed.

Total bank assets June of this year were at JD58.189 billion, growing by 0.2 per cent, compared to the end of last year, the statistics revealed.

Meanwhile, the Kingdom's total exports during the past five months of the year were about JD2.382 billion, marking a rise of 19.1 per cent, compared to the same period last year, while imports were at about JD5.582 billion, rising 25.3 per cent compared to the same period last year. Remittances of Jordanian expatriates during the past five months of the year were at JD979 million, according to the figures.

The data also pointed out that unemployment in the Kingdom rose in the first quarter by 5.7 per cent to reach 25 per cent, including 24.2 per cent among males and 28.5 per cent among females.

The Kingdom's total public debt by the end of March of this year stood at JD33.987 billion, it showed.

The consumer price index (inflation) in the first half of this year reached 102.00, compared to 101.18 for the same period last year, with a rise of 0.81 per cent.

The Ministry of Planning and International Cooperation said that the value of foreign aid pledged to the Kingdom in the first half of the year was at $301 million.

(Petra)

Macroeconomic indicators since the beginning of the year showed improvement, and that the Kingdom is on a path to recovery despite the difficulties still being imposed by the coronavirus pandemic, according to latest data.

The data collected by Petra over different periods of this year, revealed that 'the economy is spinning its wheels and moving in a positive direction, driven by the return of economic sectors to business and the relaxing of pandemic-related measures.'

According to the data, which was based on figures from the Department of Statistics and the Association of Banks in Jordan (ABJ), the profits of shareholding companies listed on the Amman Stock Exchange (ASE) saw significant improvement during the first half of the year, climbing to JD503 million, compared with JD118 million during the same period last year, with a 328 per cent increase.

GDP constant price growth was at 0.3 per cent during the first quarter of this year, compared to the first quarter of 2020, it showed.

The extractive industries sector emerged with the highest growth rate during the first quarter, recording 15.3 per cent, agriculture was at 2.9 per cent, followed by the finance, insurance and business services sector at 2.1 per cent, and the government sector at 0.1 per cent, according to the data.

It also revealed domestic revenues saw remarkable improvement in the past five months of the year, surging about JD849 million, or 38 per cent, compared with the same period last year.

Tax revenues during the past five months of the year rose to about JD541 million dinars, as well as non-tax revenues, which also shot up about JD308 million, compared to the same period last year, according to the data.

It also pointed out that the fiscal deficit in the past five months of the year dropped by about JD462 million, reaching JD636 million, compared to the same period last year.

The real estate trade volume until the end of July of the year was up 6 per cent, rising to JD2.602 billion, compared to the same period in 2019, the data showed.

Central Bank of Jordan (CBJ) foreign currency reserves during the month of June this year stood at $15.529 billion, compared to $15.920 billion at the end of last year, that cover imports for a period of 8.7 months, according to the statistics.

Total bank deposits in the Kingdom by the end of last June were at JD37.699 billion, growing by 2.4 per cent, compared to the end of last year, and total credit facilities by the Kingdom's banks by the end of June was at JD29.757 billion, growing by 3.9 per cent, compared to the end of last year, it showed.

Total bank assets June of this year were at JD58.189 billion, growing by 0.2 per cent, compared to the end of last year, the statistics revealed.

Meanwhile, the Kingdom's total exports during the past five months of the year were about JD2.382 billion, marking a rise of 19.1 per cent, compared to the same period last year, while imports were at about JD5.582 billion, rising 25.3 per cent compared to the same period last year. Remittances of Jordanian expatriates during the past five months of the year were at JD979 million, according to the figures.

The data also pointed out that unemployment in the Kingdom rose in the first quarter by 5.7 per cent to reach 25 per cent, including 24.2 per cent among males and 28.5 per cent among females.

The Kingdom's total public debt by the end of March of this year stood at JD33.987 billion, it showed.

The consumer price index (inflation) in the first half of this year reached 102.00, compared to 101.18 for the same period last year, with a rise of 0.81 per cent.

The Ministry of Planning and International Cooperation said that the value of foreign aid pledged to the Kingdom in the first half of the year was at $301 million.

(Petra)