GDP down by -1.6% in 2020 — DoS

AMMAN — Jordan's gross domestic product (GDP) dropped by -1.6 per cent at fixed market prices in 2020, compared with 2 per cent in 2019, according to the Department of Statistics (DoS).

In its quarterly report issued Wednesday, the DoS said GDP slumped at fixed market prices in the last quarter of 2020 by -1.6%, compared with the same period in 2019, which amounted to 2.1 per cent, the Jordan News Agency, Petra, reported.

According to the department's data, preliminary estimates showed that most economic sectors fell down during the last quarter of 2020, compared with the same period in 2019.

The DoS figures indicated that the hotel and restaurant sector recorded the highest decline during this period, reaching -8.8 per cent, then the transport, storage and communications sectors, with a drop of -5.7 per cent, followed by the social and personal services sector by -4.1 per cent, and then the construction sector by -3 per cent, as well as the manufacturing sector, by -2.4 per cent.

Regarding sector contributions to the decline rate recorded during the last quarter of 2020, amounting to -1.6 per cent, the transport, storage and communication sector contributed by -0.51 per cent, while the manufacturing sector's share hit -4.44 per cent of the total decrease percentage.

Meanwhile, the social and personal services sector contributed a -0.37 percentage, followed by the wholesale and retail trade, hotels and restaurants sector, whose drop rate reached -0.27 per cent, the Dos data revealed.