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Economy of Jordan vs Oman compared: GDP & Debt

Updated on by Georank team

Jordan has a GDP of $53.4B compared to $107B for Oman, ranking 91/197 and 70/197 by economy size, respectively.

Jordan has $51.2B in government debt (92.6% of GDP), compared to $38B (35.4% of GDP) in Oman.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Jordan
GDP, current $

GDP, constant 2015 $
Oman
GDP, current $

GDP, constant 2015 $
Year GDP
Jordan Oman
Current $ Constant $ Current $ Constant $
1960 - - $44,234,656 $1,249,211,742
1961 - - $45,634,487 $1,263,447,839
1962 - - $56,273,202 $1,518,510,059
1963 - - $59,912,763 $1,587,317,448
1964 - - $61,872,526 $1,588,503,801
1965 $599,759,760 - $63,279,975 $1,595,621,861
1966 $657,999,737 - $67,759,973 $1,678,665,421
1967 $631,679,747 - $107,151,832 $2,790,262,281
1968 $561,119,776 - $188,879,849 $5,075,146,585
1969 $698,879,720 - $239,999,808 $6,377,742,275
1970 $639,519,744 - $256,319,795 $7,263,935,714
1971 $678,159,729 - $301,010,587 $7,329,182,208
1972 $788,479,685 - $366,883,548 $8,049,290,789
1973 $943,783,840 - $483,066,991 $6,902,101,210
1974 $1,197,483,949 - $1,645,917,776 $7,695,760,470
1975 $1,363,073,498 - $2,096,699,189 $9,576,104,314
1976 $1,708,521,219 $5,730,509,541 $2,560,220,035 $11,543,047,911
1977 $2,096,778,602 $6,206,050,653 $2,741,169,948 $11,659,311,607
1978 $2,602,208,589 $7,117,071,955 $2,740,301,390 $11,228,671,308
1979 $3,271,368,781 $8,597,629,976 $3,733,352,635 $11,715,068,326
1980 $3,910,044,474 $9,559,261,689 $5,981,760,278 $12,422,124,728
1981 $4,383,944,703 $11,201,420,243 $7,259,120,151 $14,539,734,068
1982 $4,681,240,993 $11,988,425,688 $7,554,719,456 $16,221,957,658
1983 $4,920,692,191 $11,722,313,981 $7,932,541,691 $18,925,617,928
1984 $4,967,162,160 $12,225,399,096 $8,821,443,151 $22,088,390,354
1985 $4,993,601,520 $11,894,464,002 $10,005,645,420 $25,182,354,730
1986 $6,402,050,485 $12,549,210,740 $7,324,167,369 $25,686,545,709
1987 $6,756,209,762 $12,840,763,338 $7,811,183,095 $24,802,727,111
1988 $6,277,451,829 $13,028,517,104 $8,386,215,865 $26,281,968,614
1989 $4,221,373,674 $11,630,658,935 $9,372,171,651 $29,371,903,351
1990 $4,160,087,508 $11,598,569,492 $13,310,273,082 $29,333,594,830
1991 $4,344,467,193 $11,785,136,086 $12,918,335,501 $31,115,340,233
1992 $5,310,833,194 $13,476,276,723 $14,183,615,085 $33,733,348,947
1993 $5,606,400,222 $14,080,955,882 $14,230,429,129 $35,771,841,958
1994 $6,236,295,978 $14,780,987,323 $14,715,214,564 $37,158,277,767
1995 $6,727,597,032 $15,697,537,789 $15,722,236,671 $39,015,009,844
1996 $6,927,503,526 $16,025,148,664 $17,402,080,624 $40,203,383,600
1997 $7,245,839,210 $16,555,336,763 $18,039,791,938 $42,629,059,778
1998 $7,912,270,804 $17,054,012,096 $16,044,213,264 $42,600,125,690
1999 $8,149,929,478 $17,632,063,087 $17,832,769,831 $42,726,901,831
2000 $8,460,789,845 $18,380,669,692 $22,259,557,867 $45,372,727,045
2001 $8,975,814,653 $19,349,323,187 $22,205,721,717 $47,465,846,486
2002 $9,582,510,578 $20,468,450,875 $23,065,539,662 $47,093,635,558
2003 $10,195,627,645 $21,320,279,754 $24,733,680,104 $46,060,087,701
2004 $11,411,706,629 $23,146,833,798 $28,378,933,680 $46,977,841,908
2005 $12,588,998,590 $25,032,512,559 $35,506,892,068 $48,283,564,529
2006 $15,056,981,664 $27,058,387,611 $42,577,633,290 $50,538,317,581
2007 $17,110,437,236 $29,270,727,369 $48,300,390,117 $53,055,456,656
2008 $22,658,715,989 $31,384,186,979 $69,804,681,404 $57,803,951,303
2009 $24,537,876,056 $32,960,837,542 $55,454,096,229 $61,261,764,565
2010 $27,133,804,225 $33,723,826,288 $64,993,498,049 $62,776,154,507
2011 $29,524,149,155 $34,646,908,078 $77,497,529,259 $64,593,279,187
2012 $31,634,561,690 $35,488,605,512 $87,408,842,653 $70,318,260,490
2013 $34,454,440,141 $36,414,839,440 $89,936,020,806 $73,994,291,063
2014 $36,847,643,521 $37,647,146,046 $92,699,089,727 $74,950,483,987
2015 $38,587,017,887 $38,587,017,887 $78,710,793,238 $78,710,793,238
2016 $39,892,551,127 $39,356,512,808 $75,128,738,622 $82,682,873,556
2017 $41,608,435,915 $40,330,034,783 $80,856,697,009 $82,934,277,089
2018 $43,370,860,704 $41,103,996,750 $91,505,851,756 $84,001,727,416
2019 $44,503,006,338 $41,823,826,702 $88,060,858,257 $83,053,651,985
2020 $43,700,383,099 $41,362,613,666 $75,909,492,848 $80,246,670,661
2021 $46,296,100,141 $42,874,683,401 $87,323,797,139 $82,318,780,120
2022 $48,764,963,380 $44,009,762,840 $109,852,795,839 $88,892,516,940
2023 $51,088,476,338 $45,279,041,101 $105,895,708,713 $89,947,791,028
2024 $53,352,289,577 $46,405,988,481 $106,942,782,835 $91,453,585,977

Economic indicators

Jordan Oman
Gross domestic product
$53.4B
2024
$107B
2024
GDP rank
91/197
2024
70/197
2024
GDP growth
4.43%
2023-2024
0.99%
2023-2024
GDP per capita
$4,618
2024
$20,248
2024
GDP per capita rank
124/197
2024
57/197
2024
GDP per capita, PPP
$10,821
2024
$41,664
2024
Government debt
$51.2B
2024
$38B
2024
Debt-to-GDP ratio
92.6%
2025
35.4%
2025
Government debt per person
$4,429
2024
$7,191
2024
Government debt per person rank
88/185
2024
68/185
2024
Average annual personal income after taxes
$5,420
2025
$20,368
2025
Market capitalization of domestic companies
$24.9B
2024
$22.3B
2022
Number of billionaires n/a
2
2025
Income share by richest 10%
27.4%
2010
n/a
Income share by poorest 10%
3.5%
2010
n/a
Government expenditure, % of GDP
31.3%
2025
28.2%
2025
Consumer prices inflation
1.56%
2023-2024
0.9%
2024-2025
Central bank interest rate
6.25%
2025
4.75%
2025
Unemployment rate
16.6%
2023
3.3%
2022
Population
11575983
5636678

GDP per capita in Jordan vs Oman

Jordan's GDP per capita is $4,618, ranking 124/197, compared to $20,248 in Oman, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Jordan ranks 131st at $10,821, while Oman ranks 54th at $41,664.

Jordan
GDP per capita

GDP per capita, PPP
Oman
GDP per capita

GDP per capita, PPP
Year Current $
Jordan Oman
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 - - $83.4 -
1961 - - $84.5 -
1962 - - $102.3 -
1963 - - $106.8 -
1964 - - $108.1 -
1965 $546 - $108.1 -
1966 $558 - $113.2 -
1967 $497 - $174.7 -
1968 $409 - $300 -
1969 $474 - $372 -
1970 $409 - $387 -
1971 $412 - $442 -
1972 $460 - $524 -
1973 $531 - $670 -
1974 $651 - $2,203 -
1975 $718 - $2,692 -
1976 $873 - $3,143 -
1977 $1,039 - $3,205 -
1978 $1,249 - $3,044 -
1979 $1,519 - $3,934 -
1980 $1,750 - $5,974 -
1981 $1,885 - $6,866 -
1982 $1,929 - $6,759 -
1983 $1,939 - $6,714 -
1984 $1,871 - $7,070 -
1985 $1,797 - $7,549 -
1986 $2,200 - $5,182 -
1987 $2,217 - $5,204 -
1988 $1,966 - $5,279 -
1989 $1,260 - $5,591 -
1990 $1,149 $4,317 $7,546 $26,904
1991 $1,110 $4,195 $6,977 $28,109
1992 $1,287 $4,654 $7,318 $29,773
1993 $1,289 $4,726 $7,039 $30,987
1994 $1,367 $4,830 $7,068 $31,925
1995 $1,416 $5,027 $7,414 $33,598
1996 $1,410 $5,055 $8,068 $34,661
1997 $1,436 $5,171 $8,235 $36,809
1998 $1,532 $5,264 $7,219 $36,666
1999 $1,545 $5,402 $7,915 $36,792
2000 $1,571 $5,641 $9,754 $39,443
2001 $1,632 $5,948 $9,612 $41,679
2002 $1,706 $6,256 $9,869 $41,511
2003 $1,776 $6,500 $10,464 $40,935
2004 $1,940 $7,074 $11,801 $42,142
2005 $2,088 $7,697 $14,435 $43,673
2006 $2,343 $8,046 $16,931 $46,091
2007 $2,506 $8,416 $18,793 $48,627
2008 $3,242 $8,983 $26,577 $52,841
2009 $3,436 $9,291 $20,656 $55,127
2010 $3,718 $9,417 $23,570 $55,667
2011 $3,947 $9,632 $25,188 $52,393
2012 $4,170 $9,739 $24,642 $49,989
2013 $4,311 $9,817 $23,458 $47,013
2014 $4,191 $9,145 $23,161 $44,236
2015 $4,043 $8,967 $18,808 $36,058
2016 $3,987 $8,748 $17,110 $33,334
2017 $4,066 $9,266 $17,820 $33,619
2018 $4,145 $9,042 $19,902 $37,780
2019 $4,170 $9,429 $19,180 $37,251
2020 $4,022 $9,579 $16,785 $35,163
2021 $4,183 $9,182 $19,403 $38,719
2022 $4,332 $9,927 $23,224 $42,616
2023 $4,466 $10,412 $20,972 $41,851
2024 $4,618 $10,821 $20,248 $41,664

Spending and national debt comparison

In 2024, Jordan's government spending was $17.8B, accounting for 31.3% of its GDP, while Oman's spent $29.9B, or 28.2% of GDP.

Debt-to-GDP ratio is 92.6% in Jordan and 35.4% in Oman, ranking 29/185 and 146/185, respectively.

Jordan
Government spending

Government debt
Oman
Government spending

Government debt
Year % of GDP
Jordan Oman
Government spending Government debt Government spending Government debt
1985 42.4% 85.2% - -
1986 33.8% 84.3% - -
1987 42.1% 101.9% - -
1988 44.3% 129.3% - -
1989 42.5% 195.4% - -
1990 44% 227.5% 36.5% 17.8%
1991 44.9% 207.7% 37.4% 22.6%
1992 35.5% 155.1% 40.1% 23.1%
1993 36.4% 140.6% 40.1% 22.2%
1994 34.3% 129% 39.7% 23.6%
1995 35.5% 117.8% 38.2% 21.9%
1996 36.2% 116.5% 33.5% 21.2%
1997 33.9% 109% 32.1% 20.8%
1998 34.9% 110.8% 36.1% 30.9%
1999 32.7% 109% 34.2% 28.9%
2000 33.1% 99.3% 31.2% 21.7%
2001 32.1% 94.4% 33.3% 22.5%
2002 32.9% 94.9% 34.1% 15.9%
2003 36% 88.8% 34% 13%
2004 36.6% 81.5% 34.1% 14.5%
2005 37.3% 73% 30.6% 8.39%
2006 34.7% 66.3% 30.1% 7.56%
2007 35.8% 64.3% 30.7% 4.44%
2008 34% 54.2% 25.6% 3.2%
2009 34.5% 58% 33.4% 5.8%
2010 32% 59.4% 30.6% 5.46%
2011 35.6% 62.1% 34.5% 4.44%
2012 36.8% 70.5% 38.6% 4.59%
2013 33.6% 75.6% 39.3% 4.66%
2014 35.6% 75% 41.4% 4.04%
2015 32.7% 78.4% 44.5% 13.9%
2016 28.4% 77.4% 44.6% 29.3%
2017 28.7% 75.7% 39.4% 40.1%
2018 30.1% 74.3% 38.3% 44.7%
2019 30.1% 78% 38.8% 52.5%
2020 31.7% 87.9% 44.5% 67.9%
2021 32.2% 98.2% 36.5% 61.9%
2022 32.6% 97.9% 30.9% 41.7%
2023 32.8% 97% 27.5% 37.5%
2024 33.3% 95.9% 27.9% 35.5%
2025 31.3% 92.6% 28.2% 35.4%

Government deficit by year

In 2024, Jordan's government deficit, the difference between spending and revenue, was -$4.41B, equivalent to -8.26% of GDP. This compares to Oman's surplus of $6.75B, or 6.31% of GDP.

Over the past 35 years, Jordan recorded a fiscal deficit in 34 of those years, while Oman ran a deficit in 14 years. On average, Jordan posted an annual deficit equal to -5.57% of GDP, compared to surplus of +1.08% of GDP for Oman.

Deficit/surplus
Jordan

Oman
Year Deficit/surplus, % of GDP
Jordan Oman
1985 -6.9% -
1986 -2.39% -
1987 -13.4% -
1988 -13% -
1989 -6.89% -
1990 -7.45% 4.78%
1991 -10.2% 0.12%
1992 1.87% -4.85%
1993 -2.14% -6.84%
1994 -2.3% -7.47%
1995 -1.72% -3.9%
1996 -3.25% 2.22%
1997 -2.97% 4.77%
1998 -5.4% -4.37%
1999 -2.69% 0.3%
2000 -3.99% 12.2%
2001 -2.77% 7.55%
2002 -4.44% 5.31%
2003 -2.52% 5.92%
2004 -1.09% 5.43%
2005 -5.36% 11.2%
2006 -3.82% 12.2%
2007 -5.03% 10.5%
2008 -4.8% 14.7%
2009 -8.84% -0.27%
2010 -7.81% 4.95%
2011 -9.82% 8.24%
2012 -14.3% 4.07%
2013 -10.1% 2.78%
2014 -8.48% -1.58%
2015 -8.39% -13.5%
2016 -3.66% -19.6%
2017 -3.57% -10.5%
2018 -4.61% -6.72%
2019 -5.83% -4.83%
2020 -9.07% -15.7%
2021 -7.46% -3.17%
2022 -6.95% 10.5%
2023 -7.64% 6.87%
2024 -8.26% 6.31%
2025 -5.32% 1.24%

Inflation comparison by year

Over the past 29 years, Jordan has recorded an average annual inflation rate of 3.03%, compared with 1.68% in Oman. In 2024, inflation was 1.56% in Jordan and 0.9% in Oman.

Inflation
Jordan

Oman
Year Inflation
Jordan Oman Jordan Oman
1996 6.5% 0.5%
1997 3.04% -0.4%
1998 3.09% 0.4%
1999 0.61% 0.5%
2000 0.67% -1.2%
2001 1.77% -0.8%
2002 1.83% -0.3%
2003 1.63% 0.2%
2004 3.36% 0.8%
2005 3.49% 1.9%
2006 6.25% 3.2%
2007 4.74% 5.9%
2008 14% 12.6%
2009 -0.74% 3.5%
2010 4.85% 3.3%
2011 4.16% 4.1%
2012 4.52% 2.9%
2013 4.82% 1.3%
2014 2.9% 1.2%
2015 -0.88% 0.1%
2016 -0.78% 0.9%
2017 3.32% 1.5%
2018 4.46% 0.7%
2019 0.76% 0.5%
2020 0.33% -0.4%
2021 1.35% 1.7%
2022 4.23% 2.5%
2023 2.08% 1%
2024 1.56% 0.6%
2025 - 0.9%

Top exports between countries

Jordan
Export category Export value
Raw agricultural goods $28.3M
Chemicals & pharma $27.2M
Processed food, beverages & tobacco $9.89M
Raw materials & minerals $7.3M
Machinery & equipment $4.22M
Animal & marine products $2.52M
Miscellaneous $2.32M
Metals $2.1M
Textiles & consumer goods $588K
Wood & paper products $541K
Oman
Export category Export value
Raw materials & minerals $32.6M
Chemicals & pharma $27.7M
Animal & marine products $12.4M
Textiles & consumer goods $11.6M
Processed food, beverages & tobacco $7.54M
Machinery & equipment $4.23M
Metals $3.48M
Raw agricultural goods $1.79M
Wood & paper products $293K
Miscellaneous $133K

Balance of trade

Jordan Oman
Current account balance
-$3.13B
2024
$2.64B
2023
Current account balance ranking
156/189
2024
40/189
2023
Current account balance, % of GDP
-5.86%
2024
+2.49%
2023
Goods imports
$23.9B
2024
$35.2B
2023
Goods exports
$13.3B
2024
$59B
2023
Service imports
$6.5B
2024
$12.2B
2023
Service exports
$9.45B
2024
$5.73B
2023
Imports of goods and services, % of GDP
57.1%
2024
44.8%
2023
Exports of goods and services, % of GDP
42.6%
2024
61.1%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Jordan Oman
Economic freedom 59.4 65.4
Economic freedom ranking 101/197 64/197
Property rights 54.4 74.5
Government integrity 48.8 42.3
Judicial effectiveness 43.5 25.5
Tax burden 83.9 97.6
Government spending 68.5 70.8
Fiscal health 2.8 63.2
Business freedom 62.4 68.1
Labor freedom 55.6 52.2
Monetary freedom 79.9 82.5
Trade freedom 82.4 78.2
Investment freedom 70 70
Financial freedom 60 60

Economic freedom by year comparison

The Economic Freedom Index for Jordan is 59.4, ranking 101/197, compared to 65.4 for Oman, ranking 64/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Jordan
Oman
Year Economic freedom index
Jordan Oman
1995 62.7 70.2
1996 60.8 65.4
1997 63.6 64.5
1998 66.8 64.9
1999 67.4 64.9
2000 67.5 64.1
2001 68.3 67.7
2002 66.2 64
2003 65.3 64.6
2004 66.1 66.9
2005 66.7 66.5
2006 63.7 63.7
2007 64.5 65.8
2008 64.1 67.3
2009 65.4 67
2010 66.1 67.7
2011 68.9 69.8
2012 69.9 67.9
2013 70.4 68.1
2014 69.2 67.4
2015 69.3 66.7
2016 68.3 67.1
2017 66.7 62.1
2018 64.9 61
2019 66.5 61
2020 66 63.6
2021 64.6 64.6
2022 60.1 56.6
2023 58.8 58.5
2024 58.3 62.9
2025 59.4 65.4

More economic indicators

Jordan Oman
Services, % of GDP
60.4%
2024
46.5%
2024
Industry, % of GDP
25.1%
2024
54.2%
2024
Agriculture, forestry, and fishing, % of GDP
5.07%
2024
2.6%
2024
GNI, Atlas method
$51.2B
2024
$102B
2024
GNI per capita, PPP
$10,570
2024
$38,840
2024
Total reserves including gold
$21.9B
2024
$18.3B
2024
Total reserves ranking
60/177
2024
64/177
2024
Net foreign direct investment
-$1.58B
2024
-$12.1B
2023
Net inflows of foreign direct investment
$1.63B
2024
$8.69B
2024
Net outflows of foreign direct investment
$54.1M
2024
$1.04B
2024
Servicing debt to the IMF, % of GNI
7.66%
2023
n/a
Poverty at national poverty lines
14.2%
2020
n/a
Gross capital formation, % of GDP
25.2%
2021
26.7%
2023

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.