Jordan suffers chronic deficits in the balance of payments and as a result has been dependent on inflows of funds from abroad. These largely consist of remittances from Jordanian workers in the Gulf and grants and investments from Arab states in the Gulf and other countries, most notably the United States. Foreign aid is included in net development assistance in Table 1.
In recent years, the current account of the balance of payments has deteriorated massively. In the period 2001 to 2005, there was a surplus, averaging $127 million per year. From 2006 to 2010, the surplus became a deficit averaging almost $2 billion annually, while from 2011 to 2015 it reached just over $3.4 billion each year. This has occurred despite the fall in the cost of imported oil since 2014. In 2014 the cost of oil imports peaked at $5.5 billion (15.3 percent of GDP), and in 2015 it fell to an estimated $3.6 billion (9.4 percent).
Table 1: The Balance of Payments, 2008-2015 ($ billions)