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Economy of Bhutan vs Jamaica compared: GDP & Debt

Updated on by Georank team

Bhutan has a GDP of $3.01B compared to $22B for Jamaica, ranking 170/197 and 124/197 by economy size, respectively.

Bhutan has $3.53B in government debt (110.4% of GDP), compared to $14B (63.4% of GDP) in Jamaica.

Bhutan vs Jamaica GDP by year

Bhutan
Jamaica
1x
Year GDP, current $
Bhutan Jamaica
2024 - $22,014,397,090
2023 $3,012,896,789 $21,418,804,320
2022 $2,898,227,744 $18,813,516,805
2021 $2,768,802,960 $15,963,885,376
2020 $2,457,604,334 $15,000,214,216
2019 $2,735,683,570 $17,026,269,263
2018 $2,583,335,722 $16,855,447,986
2017 $2,591,358,009 $15,783,583,237
2016 $2,357,504,761 $14,898,999,754
2015 $2,187,815,803 $14,963,589,916
2014 $2,089,079,571 $13,899,217,680
2013 $1,943,696,952 $14,264,205,153
2012 $1,973,387,228 $14,807,086,556
2011 $1,977,728,659 $14,444,661,522
2010 $1,708,880,730 $13,220,549,908
2009 $1,331,343,798 $12,120,458,115
2008 $1,317,517,835 $13,709,401,520
2007 $1,255,767,964 $12,799,600,047
2006 $942,879,879 $11,930,179,090
2005 $860,391,000 $11,243,865,778
2004 $735,348,490 $10,174,664,854
2003 $651,935,430 $9,430,234,811
2002 $559,345,264 $9,719,009,495
2001 $496,110,226 $9,194,727,831
2000 $460,733,418 $9,005,064,475
1999 $399,311,200 $8,887,057,997
1998 $363,458,381 $8,787,195,622
1997 $352,229,077 $8,400,041,724
1996 $303,408,346 $7,393,891,921
1995 $290,490,984 $6,577,520,643
1994 $258,954,708 $5,452,558,947
1993 $225,973,693 $5,440,075,676
1992 $240,233,531 $3,535,460,090
1991 $240,294,286 $4,106,207,649
1990 $287,765,007 $4,592,208,087
1989 $264,798,626 $4,404,937,853
1988 $272,298,067 $3,828,342,820
1987 $242,742,766 $3,287,007,322
1986 $191,218,115 $2,754,549,582
1985 $163,288,815 $2,100,239,019
1984 $160,423,494 $2,373,564,549
1983 $156,704,290 $3,619,262,277
1982 $141,439,317 $3,293,496,312
1981 $139,174,178 $2,979,027,966
1980 $128,669,201 $2,679,379,372
1979 $105,377,995 $2,425,064,229
1978 $94,086,228 $2,644,527,822
1977 $97,884,434 $3,249,733,140
1976 $88,461,263 $2,966,042,856
1975 $86,820,762 $2,860,442,750
1974 $92,901,784 $2,375,122,375
1973 $78,900,289 $1,905,917,553
1972 $70,139,867 $1,875,146,587
1971 $66,289,450 $1,539,861,816
1970 $61,812,113 $1,404,720,442
1969 - $1,191,239,047
1968 - $1,083,839,133
1967 - $1,148,014,311
1966 - $1,096,759,561
1965 - $972,159,611
1964 - $897,949,001
1963 - $826,706,669
1962 - $777,727,689
1961 - $748,043,501
1960 - $699,064,380

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bhutan/jamaica | CC BY

GDP per capita in Bhutan vs Jamaica by year

Bhutan
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Bhutan Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $7,754 $12,890
2023 $3,831 $16,215 $7,542 $12,651
2022 $3,711 $15,064 $6,626 $11,888
2021 $3,571 $13,459 $5,626 $10,431
2020 $3,192 $12,475 $5,299 $9,764
2019 $3,577 $12,909 $6,031 $10,845
2018 $3,400 $11,970 $5,977 $10,753
2017 $3,435 $11,677 $5,605 $10,466
2016 $3,152 $11,273 $5,302 $9,948
2015 $2,954 $10,214 $5,339 $9,476
2014 $2,849 $9,323 $4,975 $9,210
2013 $2,680 $8,667 $5,124 $9,101
2012 $2,751 $8,577 $5,341 $8,831
2011 $2,788 $7,935 $5,233 $8,809
2010 $2,436 $7,246 $4,810 $8,521
2009 $1,918 $6,466 $4,428 $8,580
2008 $1,920 $6,035 $5,030 $8,952
2007 $1,850 $5,729 $4,716 $8,893
2006 $1,406 $4,860 $4,417 $8,577
2005 $1,300 $4,523 $4,184 $8,127
2004 $1,130 $4,173 $3,808 $7,854
2003 $1,022 $3,942 $3,550 $7,593
2002 $896 $3,663 $3,681 $7,226
2001 $812 $3,338 $3,504 $7,019
2000 $772 $3,113 $3,453 $6,816
1999 $685 $3,017 $3,432 $6,653
1998 $638 $2,819 $3,419 $6,543
1997 $630 $2,683 $3,297 $6,682
1996 $553 $2,548 $2,929 $6,706
1995 $530 $2,374 $2,631 $6,657
1994 $467 $2,146 $2,203 $6,435
1993 $407 $2,001 $2,221 $6,279
1992 $416 $1,840 $1,458 $5,664
1991 $401 $1,657 $1,710 $5,485
1990 $488 $1,638 $1,930 $5,106
1989 $462 - $1,865 -
1988 $489 - $1,632 -
1987 $449 - $1,411 -
1986 $365 - $1,191 -
1985 $321 - $917 -
1984 $326 - $1,048 -
1983 $328 - $1,619 -
1982 $306 - $1,494 -
1981 $311 - $1,370 -
1980 $296.9 - $1,249 -
1979 $251.4 - $1,144 -
1978 $232.2 - $1,262 -
1977 $249.9 - $1,569 -
1976 $233.7 - $1,450 -
1975 $237.4 - $1,417 -
1974 $262.8 - $1,193 -
1973 $230.9 - $972 -
1972 $212.4 - $971 -
1971 $207.7 - $809 -
1970 $200.3 - $748 -
1969 - - $642 -
1968 - - $591 -
1967 - - $633 -
1966 - - $612 -
1965 - - $549 -
1964 - - $514 -
1963 - - $480 -
1962 - - $458 -
1961 - - $447 -
1960 - - $424 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/bhutan/jamaica | CC BY

Bhutan's GDP per capita is $3,831, ranking 132/197, compared to $7,754 in Jamaica, ranking 95/197. Adjusted for purchasing power (GDP per capita PPP), Bhutan ranks 109th at $16,215, while Jamaica ranks 121st at $12,890.

Economic indicators

Bhutan Jamaica
Gross domestic product
$3.01B
2023
$22B
2024
GDP rank
170/197
2023
124/197
2024
GDP growth
4.63%
2022-2023
-0.54%
2023-2024
GDP per capita
$3,831
2023
$7,754
2024
GDP per capita rank
132/197
2023
95/197
2024
GDP per capita, PPP
$16,215
2023
$12,890
2024
GDP per capita PPP rank
109/197
2023
121/197
2024
Government debt
$3.53B
2023
$14B
2024
Debt-to-GDP ratio
110.4%
2024
63.4%
2024
Government debt per person
$4,485
2023
$4,917
2024
Government debt per person rank
87/185
2023
79/185
2024
Average annual personal income after taxes
$5,506
2026
$6,905
2026
Market capitalization of domestic companies n/a
$12.4B
2024
Income share by richest 10%
22.7%
2022
29.6%
2021
Income share by poorest 10%
3.6%
2022
2.2%
2021
Government expenditure, % of GDP
27.1%
2024
30.5%
2024
Consumer prices inflation
4.3%
2023-2024
5.41%
2023-2024
Central bank interest rate n/a
5.75%
2025
Unemployment rate
3.28%
2024
3.02%
2023
Population
803385
2834980

Spending and national debt comparison by year

Bhutan
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
Bhutan Jamaica
Government spending Government debt Government spending Government debt
2024 27.1% 110.4% 30.5% 63.4%
2023 28.8% 117.1% 28% 67.3%
2022 32.1% 119.9% 28.4% 73.5%
2021 36.6% 124.5% 29% 90.9%
2020 30.9% 116% 29.8% 100.1%
2019 24.2% 100.8% 27.8% 88.6%
2018 31.7% 103.4% 27.8% 89.2%
2017 30.6% 104.1% 27.3% 96.7%
2016 30.5% 103% 27% 109.1%
2015 27.5% 90.2% 26.3% 117.6%
2014 28.9% 89.8% 26.5% 136.7%
2013 32.5% 87.4% 26.9% 138.1%
2012 35.1% 71.5% 29.6% 143%
2011 36.1% 62.3% 31.7% 138.1%
2010 41.5% 55.8% 32.9% 140.1%
2009 39.3% 61% 38.6% 141.5%
2008 36.1% 60.6% 34.4% 125.6%
2007 33.2% 67.3% 31.6% 115.3%
2006 33.4% 80.1% 31.2% 118%
2005 36.4% 80.8% 29.3% 124.5%
2004 31% 76% 31.5% 120.1%
2003 34.7% 68.5% 32.5% 125.5%
2002 39.3% 57.7% 31.1% 119.1%
2001 50.3% 52.4% 28.5% 107.9%
2000 43% 44% 26.2% 91.3%
1999 40.2% 39.2% 28.9% 83.5%
1998 31.1% 36.4% 28.3% 75.6%
1997 37.8% 33% 28.3% 74.4%
1996 37.9% 36.8% 27.7% 70.2%
1995 38.6% 38.7% 23.1% 85.2%
1994 37.9% 53.2% 21.5% 90.4%
1993 35.2% 60.2% 21.5% 106.2%
1992 34.5% 35.6% 20% 100.4%
1991 30.8% 33.5% 24.5% 175.1%
1990 35.8% 27.4% 25.7% 128.8%
1989 46.8% 26.4% - -
1988 45.3% 24.7% - -
1987 47.5% 17.3% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1998, retrieved 2026-02-20).

GeoRank.org/economy/bhutan/jamaica | CC BY

In 2024, Bhutan's government spending was $869M, accounting for 27.1% of its GDP, while Jamaica spent $6.72B, or 30.5% of GDP.

Debt-to-GDP ratio is 110.4% in Bhutan and 63.4% in Jamaica, ranking 17/185 and 73/185, respectively.

Government deficit by year

Deficit/surplus
Bhutan

Jamaica
1x
Year Deficit/surplus, % of GDP
Bhutan Jamaica
2024 -0.17% 0.22%
2023 -4.73% 0.04%
2022 -6.95% 0.27%
2021 -5.76% 0.89%
2020 -1.81% -2.83%
2019 -1.49% 0.85%
2018 -1.52% 1.12%
2017 -4.49% 0.43%
2016 -2.31% -0.19%
2015 -0.49% -0.28%
2014 2.46% -0.49%
2013 -4.55% 0.12%
2012 -2.1% -4.05%
2011 -3.02% -6.34%
2010 1.92% -6.27%
2009 -0.8% -11.1%
2008 -2.57% -7.43%
2007 0.79% -3.82%
2006 -0.07% -4.9%
2005 -6.96% -3.3%
2004 1.8% -4.68%
2003 -10.2% -5.67%
2002 -4.33% -6.77%
2001 -12.2% -4.89%
2000 -3.39% -0.8%
1999 -1.28% -3.53%
1998 1.28% -5.82%
1997 -1.92% -6.54%
1996 2.55% -5.32%
1995 -0.88% 1.6%
1994 -0.13% 2.59%
1993 4.71% 2.6%
1992 -3.47% 3.11%
1991 -0.48% 3.87%
1990 -7.21% 2.34%
1989 -10.1% -
1988 1.33% -
1987 -0.56% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1987–1989, retrieved 2026-02-20).

GeoRank.org/economy/bhutan/jamaica | CC BY

In 2023, Bhutan's government deficit, the difference between spending and revenue, was $142M, equivalent to 4.73% of GDP. This compares to Jamaica's surplus of $7.6M, or 0.04% of GDP.

Over the past 34 years, Bhutan recorded a fiscal deficit in 27 of those years, while Jamaica ran a deficit in 21 years. On average, Bhutan posted an annual deficit equal to 2.34% of GDP, compared to deficit of 2.21% of GDP for Jamaica.

Inflation comparison by year

Inflation
Bhutan

Jamaica
1x
Year Consumer prices inflation
Bhutan Jamaica
2024 4.3% 5.41%
2023 4.5% 6.47%
2022 5.9% 10.3%
2021 8.2% 5.86%
2020 3% 5.23%
2019 2.8% 3.91%
2018 3.6% 3.74%
2017 4.3% 4.38%
2016 3.3% 2.35%
2015 6.7% 3.69%
2014 9.6% 8.27%
2013 8.1% 9.34%
2012 10.1% 6.87%
2011 8.6% 7.56%
2010 4.8% 12.6%
2009 7.1% 9.59%
2008 6.3% 22%
2007 5.2% 9.24%
2006 4.9% 8.56%
2005 4.8% 15.1%
2004 3.3% 13.6%
2003 2.5% 10.1%
2002 2.9% 7.08%
2001 3.7% 6.8%
2000 7.2% 8.17%
1999 9.1% 5.95%
1998 7.6% 8.63%
1997 8.6% 9.66%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/bhutan/jamaica | CC BY

Over the past 28 years, Bhutan has recorded an average annual inflation rate of 5.75%, compared with 8.23% in Jamaica. In 2024, inflation was 4.3% in Bhutan and 5.41% in Jamaica.

Balance of trade

Bhutan Jamaica
Current account balance
-$670M
2024
$679M
2024
Current account balance ranking
114/190
2024
56/190
2024
Current account balance, % of GDP
-32%
2023
+3.08%
2024
Goods imports
$1.29B
2024
$6.07B
2024
Goods exports
$656M
2024
$1.87B
2024
Service imports
$228M
2024
$3.46B
2024
Service exports
$288M
2024
$5.26B
2024
Imports of goods and services, % of GDP
53.3%
2023
52.1%
2019
Exports of goods and services, % of GDP
28.4%
2023
38%
2019

Economic freedom indices

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

Bhutan Jamaica
Economic freedom 57.5 68.2
Economic freedom ranking 115/197 48/197
Property rights 69.2 66.8
Government integrity 72.2 49.4
Judicial effectiveness 61.8 75.6
Tax burden 83.4 76.3
Government spending 74.1 76
Fiscal health 25.8 92.2
Business freedom 67.8 68.5
Labor freedom 60.1 59.2
Monetary freedom 71.6 74.2
Trade freedom 63.4 70.4
Investment freedom 20 60
Financial freedom 20 50

Economic freedom comparison by year

Bhutan
Jamaica
1x
Year Economic freedom index
Bhutan Jamaica
2026 57.5 68.2
2025 57.5 68.7
2024 55.4 68.1
2023 59 68.1
2022 59.3 67.4
2021 58.3 69
2020 62.1 68.5
2019 62.9 68.6
2018 61.8 69.1
2017 58.4 69.5
2016 59.5 67.5
2015 57.4 67.7
2014 56.7 66.7
2013 55 66.8
2012 56.6 65.1
2011 57.6 65.7
2010 57 65.5
2009 57.7 65.2
2008 - 65.7
2007 - 65.5
2006 - 66.4
2005 - 67
2004 - 66.7
2003 - 67
2002 - 61.7
2001 - 63.7
2000 - 65.5
1999 - 64.7
1998 - 67.1
1997 - 67.7
1996 - 66.7
1995 - 64.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/bhutan/jamaica | CC BY

The Economic Freedom Index for Bhutan is 57.5, ranking 115/197, compared to 68.2 for Jamaica, ranking 48/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Bhutan Jamaica
Services, % of GDP
52.8%
2023
60%
2024
Industry, % of GDP
29.4%
2023
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
15%
2023
7.97%
2024
GNI, Atlas method
$2.93B
2023
$20.5B
2024
GNI per capita, PPP
$15,320
2023
$12,690
2024
Total reserves including gold
$941M
2024
$5.63B
2024
Total reserves ranking
143/177
2024
93/177
2024
Net foreign direct investment
-$22.8M
2024
-$304M
2024
Net inflows of foreign direct investment
$2.82M
2024
$305M
2024
Net outflows of foreign direct investment
$0
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI
4.96%
2023
11.3%
2024
Poverty at national poverty lines
12.4%
2022
8.2%
2023
Gross capital formation, % of GDP
45.3%
2023
22.6%
2019

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/bhutan/jamaica | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1987–1998, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

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.