Barbados vs Jamaica: Economic Indicators Comparison

Jamaica with a GDP of $15.7B ranked the 122nd largest economy in the world, while Barbados ranked 157th with $5.1B. By GDP 5-years average growth and GDP per capita, Jamaica and Barbados ranked 153rd vs 159th and 106th vs 50th, respectively.

Gross Domestic Product & Income

StatBarbadosJamaica
GDP$5.1B$15.7B
GDP growth, 1 year-0.5%1.4%
GDP growth, 5-years average0.7%1%
Population286k2.9M
GDP per capita$18k$5.4k
GDP per capita growth-0.64%1.45%
Purchasing Power Parity conversion factor1.9373.98
Price level ratio of PPP conversion factor GDP to market exchange rate0.970.57
GDP per capita, PPP adjusted$19k$9.4k
GNI, Atlas method$4.4B$14.6B
GNI per capita$15k$5k
GNI, PPP adjusted$4.7B$26.1B
GNI per capita, PPP adjusted$16k$8.9k

Financial system and Human development

StatBarbadosJamaica
Income Tax Rate40%25%
Corporate Tax Rate5.5%25%
Inflation, consumer prices3.6%3.7%
Inflation, GDP deflator3.6%4.8%
Unemployment9.6%9.5%
Economic Freedom Index61.468.5
Personal Freedom Index8.227.29
Human Freedom Index7.217.16
Property Rights Index56.662.1
Judical Effectiveness Index36.150.5
Business Freedom Index69.477.7
Fiscal Health Index63.180.2
Labor Freedom Index6074
Investment Freedom Index7080
Financial Freedom Index6050
Trade Freedom Index56.668.4
Monetary Freedom Index77.977.7
Government Spending Index69.274.8
Tax Burden Index73.680
Government Integrity Index4446.8
Corruption Perceptions Index6844
Life expectancy at birth, years7974.3
Suicide mortality rate, per 100,000 people0.82.2
Mortality caused by road traffic injury, per 100,000 people5.613.6
Intentional homicides, per 100,000 people10.557
International tourism, number of arrivals680k2.5M

Government debt & reserves

StatBarbadosJamaica
Central government debt, % of GDP124.5%99.4%
External debt stocks, % of GNIN/A108%
External debt stocksN/A$16.3B
Short-term debt, % of total reservesN/A56.4%
Total debt service, % of exports and primary incomeN/A20.4%
Adjusted net savings including particulate emission damage, % of GNI-6.8%15.9%
Gross savings, % of GDP-0.5%21.3%
Gross capital formation, % of GDP11.3%23.3%
Total reserves including gold$431.8M$3.5B
Foreign direct investment net inflows$195.1M$774.6M

Exports, imports and economic structure

StatBarbadosJamaica
Exports of goods and services, % of GDP42%38%
Imports of goods and services, % of GDP40.9%51.1%
Current account balance (balance of payments)-$248.2M-$287.6M
Revenue excluding grants, % of GDP26.7%29.3%
Grants excluding technical cooperation, BoP$13.8M$96.8M
Personal remittances received$108.3M$2.5B
Industry including construction value added, % of GDP14%20.3%
Agriculture, forestry and fishing value added, % of GDP1.3%6.6%
Charges for the use of intellectual property, payments BoP$12.1M$50.8M
Charges for the use of intellectual property, receipts BoP$33.4M$5.3M
Expense, % of GDP35.2%26.7%
Government Expenditure, % of GDP32%29%

Compare with countries close by GDP per capita

Barbados vs

CountryGDP
per capita
Population
Malta
$30k
465k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.49M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Panama
$16k
4.1M
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M

Jamaica vs

CountryGDP
per capita
Population
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M