AMMAN, Oct. 17 (Petra) – Inbound remittances from Jordanian expatriates reached USD 2.97 billion during the first seven months of 2026, marking a 14.1 percent annual surge that underscores the expanding role of worker transfers in stabilizing the Kingdom’s external balance, Central Bank of Jordan (CBJ) Governor Adel Al-Sharkas announced.
The accelerated momentum follows a solid performance in 2025, when total workers' remittances reached USD 4.5 billion–a 4.5 percent expansion over 2024 that accounted for roughly 7.3 percent of Gross Domestic Product (GDP). In July 2026 alone, monthly transfers totaled USD 470.2 million, registering a 13.1 percent year-on-year increase.
Speaking to the Jordan News Agency (Petra), Al-Sharkas confirmed that remittances remain the third-largest foreign currency generator under Jordan's current account, trailing only merchandise exports and tourism receipts. He emphasized that these regular inflows provide a crucial liquidity buffer, supporting household purchasing power while expanding domestic resources available for savings and investment.
Addressing geographical distribution during the January–July 2026 period, Al-Sharkas noted that remittance origin markets remain well-diversified across Gulf and Western labor corridors. The United Arab Emirates led origin markets with a 20.9 percent share, followed by the United States at 19.3 percent, Saudi Arabia at 17.7 percent, Qatar at 10.5 percent, and Kuwait at 5.5 percent, with other international markets accounting for the remaining 26.1 percent.
Double-digit growth was recorded across key corridors, led by Qatar with a 25.8 percent increase, the United States at 13.3 percent, Saudi Arabia at 11.0 percent, and the UAE at 10.7 percent. To sustain these flows amid rapid technological shifts and AI adoption across international service and industrial sectors, Al-Sharkas urged continuous upskilling of Jordanian talent, citing institutional mechanisms like the Qatari-Jordanian employment portal as vital for matching domestic expertise with global market demands.
Evaluating dual-way capital movements, Al-Sharkas noted that outbound remittances sent by non-Jordanian workers residing in the Kingdom rose by 14.4 percent year-on-year through July 2026 to USD 1.14 billion, following a 14.2 percent increase in 2025 to USD 1.8 billion. During the first seven months of 2026, Egypt absorbed 42.1 percent of total outbound transfers, followed by Bangladesh at 11.8 percent, the Philippines at 4.8 percent, and Yemen at 3.9 percent.
Despite these outflows, Jordan maintained a net remittance surplus of USD 1.8 billion through July 2026, building on a net surplus of USD 2.7 billion in 2025. This positive margin directly reinforces net external financial positions and bolsters national foreign exchange liquidity.
Reaffirming the central bank's commitment to monetary stability, Al-Sharkas highlighted that foreign exchange reserves stand at a strong USD 28.38 billion, offering a robust import coverage cushion and safeguarding the national currency.
On the domestic front, the Governor observed that while remittances directly fund household consumption, health, and education, the CBJ and the commercial banking system are focused on incentivizing formal savings and designing specialized financial products to channel a higher proportion of expatriate capital into productive, long-term investments.
He added that upgrading statistical methodologies for balance-of-payments accounting and accelerating digital transformation across financial channels remain top priorities to enhance transaction efficiency, improve geographical tracking, and strengthen regulatory oversight.
//Petra// AA
