6.7% GDP growth rate in the second quarter of 2008 as compared with the second quarter of 2007at fixed prices

   The quarterly estimates results of the gross domestic product indicate that the rate of growth in the Jordanian economy for the second quarter of 2008 compared with the same quarter of 2007 has reached 6.7 % at constant prices. This was a result of the accrued growth in the production sectors at 5.3% during the second quarter of 2008 as compared with the same quarter of 2007. Among the production sectors, the Water and Electricity Sector has achieved a growth of 11.1%, followed by the Social and Personal Services Sector by 10.4%, the Finance, Insurance, Business Owners and Real Estate by 8.5 %, the Transport, Storage and Communications Sector by 7.3% (as shown in the attached table No.1). It is worthy to mention that the “Net Taxes on Products “Sector has registered a growth of 14.7 % during the second quarter 2008 compared with the same period 2007. This increase was a result of the increase in the sales tax on imports, commodities, domestic services and the trade sector by 27 %. 

      As for the contributions of various sectors in the accrued growth rate during the second quarter 2008 (6.7%)at constant prices, the “Net Taxes on Products “Sector has contributed by 2.1 percentage points to the total growth, followed by the Finance, Insurance, Business Owners and Real Estate which contributed by 1.5 percentage points, the Transport, Storage and Communications Sector by 1.0 percentage points, the Manufacturing Sector by 0.6 percentage points and the rest of the economic sectors have contributed by the balance (1.5) percentage points (as shown in the attached table No.2).

 Table (1): The economic sectors contribution to the GDP during the second   quarter of 2008

 Table (2): The economic sectors contribution to the accrued growth (%) during the second   quarter of 2008