AMMAN— The Department of Statistics (DoS) announced Sunday that Jordan’s Gross Domestic Product (GDP) for 2023 has been revised upward to JD39.8 billion, following the completion of a four-year comprehensive overhaul of the national accounts framework.

 

According to the Department, the new figure represents an increase of about JD3.6 billion, roughly 10 per cent, compared with previous estimates.

 

The revision was carried out with technical support from the UN Economic and Social Commission for Western Asia (ESCWA) and the International Monetary Fund (IMF), DoS said.

 

The department attributed the rise to expanded statistical coverage, improved data quality, and the inclusion of economic activities that had not been previously counted, particularly within the informal sector.

 

The process also incorporated updated surveys and new data sources, it said.

 

As part of the review, DoS said that the base year for national accounts was updated from 2016 to 2023, in line with international recommendations to periodically refresh base years to better reflect structural changes in the economy.

 

The department noted that similar updates have been conducted recently in countries such as Saudi Arabia, Pakistan, Egypt, Morocco, and India, adding that such revisions are a common global practice aimed at improving the reliability of economic indicators.

 

The overhaul also led to new estimates for several key sectors, including energy, agriculture, manufacturing, mining, trade, transport and storage, real estate, and construction, enhancing the accuracy of their measured contribution to the national economy.

 

The department said that the revision marks a “major step in strengthening Jordan’s statistical system and improving the comparability of GDP figures at the regional and international levels.’

 

It added that the updated framework is expected to boost investor and global financial institution confidence in Jordan’s economic data.

 

The department said that it plans to prepare supply-and-use tables for 2023, revise the accounts series for 2008–2023, expand data linkages with administrative agencies, and complete new producer price and industrial production indices with 2023 as the base year.

 

Economist Yousef Suboh said the updated numbers reveal “a broader and more dynamic economy”, noting that they could support investor sentiment at the end of the year.

 

He also stressed that the revision helps clarify which sectors are driving growth and which need further support.

 

Economist Mohammad Khatib said the inclusion of previously unrecorded activity gives Jordan “a cleaner and more realistic baseline” for economic planning. He noted that entering December with stronger data helps the government build a more reliable state budget.

 

Economic analysts said the larger GDP total points to greater economic resilience than assumed which could influence expectations for stable growth in 2025.