ECONOMY

Jordan is a small country with insufficient supplies of water, oil, and other natural resources. The country depends on external sources for the majority of its energy requirements.

Since 2000, exports of light manufactured products, principally textiles and garments manufactured in the Qualifying Industrial Zones (QIZ) that enter the United States tariff and quota free, have been driving economic growth. Similar growth in exports to the United States under the bilateral US-Jordan Free Trade Agreement that went into effect in December 2001, to the European Union under the bilateral Association Agreement, and to countries in the region, holds considerable promise for diversifying Jordan's economy away from its traditional reliance on exports of phosphates and potash, overseas remittances, and foreign aid.

The government has emphasized the information technology (IT) and tourism sectors as other promising growth sectors.

According to the 2009 Index of Economic Freedom, Jordan has one of the freest economies in the region. This has spurred unprecedented growth in the economy.

The proportion of skilled workers in Jordan is among the highest in the region. The services sector dominates the Jordanian economy. Tourism is a rapidly growing industry in Jordan. Industries such as pharmaceuticals are emerging as very profitable products in Jordan.

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