Jordan Tenders

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Capital Amman
ISO 3166 Code JO
Population 6,677,800
Area, Sq KM 92,300
Currency Jordanian dinar
Official Language Arabic
GDP, Billion USD 33,679
GDP Growth Rate, % 3.0
Inflation, Avg CP, % Chng N/A
Interest Rates, % N/A
Unemployement Rate, % 12.2
Exchange Rate, 1 USD Equals 0.71
International dial code 962
Time Zone GMT+02:00
Internet TLD .jo

Jordan is officially known to be the Hashemite Kingdom of Jordan and is basically an Arab kingdom located on the East Bank of the River Jordan in the Middle East and on the East Bank of the River Jordan. The country is surrounded by Saudi Arabia to its east and south, Syria to its north, Iraq to the north-east and Palestine and Israel on the west. After the First World War, West Asia was divided by France and Britain due to which the Emirate of Transjordan was recognized officially in the year 1922 by the Council of the League of Nations. Jordan acquired its independence in the year 1946 and became a sovereign state known officially as the Hashemite Kingdom of Transjordan. Jordan, during the 1948 Arab-Israeli war, captured capturing after which the name of the nation was changed in the year 1948 itself, to The Hashemite Kingdom of Jordan. Jordan is known to be a constitutional monarchy but even then the king enjoys wide legislative as well as executive powers. This country is also identified as a country of "high human development” as per the 2014 Human Development Report. Jordan’s economy is considered to be an "upper middle income" economy. Along with enjoying an "advanced status" with the European Union, it is also a member of the Euro-Mediterranean free trade area along with being the founding member of the Organization of the Islamic Cooperation also known as the OIC and the Arab League. Since the year 2005, the economy of Jordan has grown at a rate of 4.3% on an average, annually. However, the major challenges that the economy of the country faces includes scarcity of water and lack of availability of natural and oil resources. Some of the other problems are high outstanding public debt, high budget deficit, high levels of unemployment and poverty. As of the year 2012, the unemployment rate was around 13 percent and youth unemployment was reported to be approximately 30 percent. The country also has a small industrial base along with the lack of natural resources and corruption is one of the prominent issues of this country. Remittances from emigrantsof this country are considered to be a major source of the foreign exchange in Jordan. However, due to food subsidies and high energy along with slow domestic growth and a bloated public sector workforce, the country usually runs annual budget deficits which are offset with the international aid to certain extent. The economy of this country is well diversified. Finance and trade solely combines for nearly 1/3rd of GDP.

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