The financial results of companies listed on the Amman Stock Exchange during the first nine months of 2026 carry important economic indicators. They go beyond rising profits to reach the second-highest level for the period on record. They reflect the ability of the Jordanian business sector to handle regional turbulence and to maintain activity and profitability, despite higher energy, shipping and insurance costs and pressure on markets.
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But does this performance represent real growth that supports the view that the economic path is rising? The figures support a positive answer. Net profit attributable to shareholders after tax rose 4.8% to JOD 1.776 billion, compared with JOD 1.695 billion. Pre-tax profits rose 5% to JOD 2.474 billion, compared with JOD 2.356 billion. This reflects an increase in business results.
Among the most notable indicators, service sector profits rose 66% and financial sector profits rose 4.7%, while industrial sector profits fell 9.6%. These figures mean the overall trend is improving, although results vary between sectors. Growth does not require all companies to improve at the same pace, but it does require the base of growth to widen and continue.
Arab Potash's results are evidence of profitability linked to real activity. Its profits rose 34% to JOD 169 million over the same period, alongside a 16% increase in potash sales revenue to JOD 563 million and a 3% rise in sales volumes to 2.25 million tonnes. This shows the expansion of its commercial activity.
Supporting factors include improved macroeconomic indicators. The national economy grew 2.9% in the first half of the year, national exports rose 6% in the first eight months, and workers' remittances rose 14.5% over the same period. In addition, inflation moderated to 2.26% in the first nine months. These indicators reinforce the reading of the results as part of a broader economic improvement.
As for the Amman Stock Exchange, its general index rose 14% since the start of the year to 4,117.3 points. The market capitalization of listed companies rose 9.1% to JOD 28.9 billion, while trading value rose 55.8% compared with the same period last year. The average daily trading volume reached JOD 13.4 million, compared with JOD 8.8 million last year, reflecting improved market liquidity alongside profitability.
Among the exchange's notable strengths are its openness to foreign investment, the development of its legislative and regulatory framework, electronic disclosure, governance, and the speed with which data is made available to investors. 99% of the 154 listed companies disclosed their results within the specified deadline, which supports transparency and allows performance to be assessed on the basis of published results.
At the company level, Arab Bank Group's results confirm the continued strength of the banking sector. Its profits reached $902 million in the first nine months, up 10%, while credit facilities rose 4% to $42.5 billion, reflecting expanded financing activity across the group. Together with the rise in profits, this is further evidence of economic activity behind the results.
However, these results are not free of challenges. The main one is the uneven performance between sectors. The 9.6% decline in industrial profits calls for widening the base of companies able to achieve growth and strengthening the contribution of productive and service sectors to profits, so that the improvement becomes more comprehensive and sustainable.
In conclusion, the figures support the view that the trend is rising. What is needed is to build on it by attracting new companies to list, widening the investor base, increasing liquidity, and strengthening the role of small and medium-sized enterprises, so that the stock market's gains become a broader driver of growth, investment and employment. The sustainability of this trend, however, depends on the continued improvement of business conditions.
