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Jordan Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
10,458,413 (July 2018 est.)GDP (PPP)
$89.0 billion (2017 est.)Among the smallest economies in the Middle East, with insufficient supplies of water, oil, and other natural resources. Tourism is of vital importance to the national economy, and accounts for approximately 10% of the country’s GDP.
GDP growth rate
2.0% (2017 est.)Medium and stable. However, it is a bit low growth rate for a country that has such level of GDP/capita
GDP (PPP) per capita
$9,200 (2017 est.)Very low
Local currency
Jordanian dinar (JOD)Pegged to the USD (1$ = 0.71 JOD)
Financial stability (Public debt)
95.9% (2017 est.)High. However, It has been quite stable in the previous 5 years.
Inflation
3.3% (2017 est.)Medium-high level of inflation, however it is quite unstable
Language
Arabic (official)English is widely spoken by middle and high class
Corruption perception index (Source: Transparency International)
Rank 58/180Medium to high level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
16% general sales tax rate.Various good/services are exempt from sales tax (including bread, water, tea, sugar, gold, money, electricity, education, air transport, public health and more)
Corporate Tax
20% standard rate (35% for banks, 24% for telecommunication, insurance, financial intermediation, electricity, and mining raw activities).National contribution tax: rate from 1% to 7% applied on taxable income of all legal persons)
Duties
Certain goods imported to Jordan are subject to customs duties. Customs duties vary depending on the type and the origin of imported goods, as prescribed by the Customs Tariff.
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