Amman – The Department of Statistics announced yesterday the completion of a comprehensive revision of the statistical framework for national accounts and the Gross Domestic Product (GDP).
اضافة اعلان
The review spanned four years and was carried out with technical support from the United Nations Economic and Social Commission for Western Asia (ESCWA) and the International Monetary Fund, with the aim of enhancing the accuracy and reliability of economic data in line with the best international methodologies and practices.
According to the Department, the revision updated Jordan’s GDP for 2023 to 39.8 billion dinars, an increase of about 3.6 billion dinars compared to previous estimates—equivalent to 10% of the total GDP.
The Department attributed this rise to improved statistical coverage and data quality, as well as the inclusion of economic activities not previously accounted for, particularly in the informal sector, in addition to updating surveys and adopting new data sources.
The review included updating the base year for national accounts from 2016 to 2023, in line with international standards recommending periodic updates to more accurately reflect economic realities and structural changes. It also incorporated the latest practices for measuring previously unaccounted economic activities.
The Department emphasized that revising the statistical framework is a common international practice; several countries have conducted similar updates in recent years, including Saudi Arabia and Pakistan, as well as revisions implemented in Egypt, Morocco, and India to enhance the reliability of their economic data.
The review also re-estimated several key sectors, improving the representation of their actual contribution to the national economy. These sectors included energy, agriculture, manufacturing and extractive industries, trade, transport and storage, real estate, and construction—achieved through expanded coverage and more comprehensive and consistent methodologies.
The Department added that this review represents a significant milestone in developing the national statistical system. It strengthens the regional and international comparability of GDP data and boosts investor and international financial institutions’ confidence in national statistics, supporting evidence-based policymaking.
Looking ahead, the Department is working on preparing supply and use tables for 2023, re-estimating the accounts series for the period 2008–2023, expanding administrative data integration with relevant institutions, and completing producer price and industrial production indices (base year 2023). It also aims to monitor new activities such as e-commerce and provide short-term indicators that allow decision-makers to track economic developments regularly.
The Department emphasized that updating methodologies and improving statistical data quality form a core pillar in supporting Jordan’s economic modernization vision and sustainable development. (Petra)
