GDP grows by 2.4% in Q2 this year

AMMAN – Jordan's gross domestic product (GDP) grew by 2.4 per cent at fixed market prices in the second quarter of this year, compared to the same period of 2014, according to the Department of Statistics (DoS).

The official data released Thursday said that most sectors recorded growth in the April-June period, with the extractive industries sector achieving the highest growth rate of 23 per cent.

The private services sector came second in terms of highest growing sectors as it recorded a 6.3 per cent expansion rate, followed by the water and electricity sector at 4.4 per cent, the financial, insurance, real estate and business services sector (4.2 per cent) and the transport, storage and telecommunications sector, which recorded 3.2 per cent.

The government and the International Monetary Fund expects the Kingdom's economy to grow by 3.5 per cent this year, a figure seen by commentators as "difficult" to achieve in light of slow expansion recorded in the first two quarters of 2015. 

The GDP grew by only 2 per cent in the first three months of this year.