Skip to content

Economy of Ecuador vs Jamaica compared: GDP & Debt

Updated on by Georank team

Ecuador has a GDP of $125B compared to $22B for Jamaica, ranking 62/197 and 124/197 by economy size, respectively.

Ecuador has $67B in government debt (53.8% of GDP), compared to $14B (63.4% of GDP) in Jamaica.

Ecuador vs Jamaica GDP by year

Ecuador
Jamaica
1x
Year GDP, current $
Ecuador Jamaica
2024 $124,676,074,700 $22,014,397,090
2023 $121,147,057,000 $21,418,804,320
2022 $116,133,121,000 $18,813,516,805
2021 $107,179,074,000 $15,963,885,376
2020 $95,865,473,000 $15,000,214,216
2019 $107,595,830,000 $17,026,269,263
2018 $107,478,961,000 $16,855,447,986
2017 $104,467,486,000 $15,783,583,237
2016 $97,671,433,000 $14,898,999,754
2015 $97,209,558,000 $14,963,589,916
2014 $102,717,794,000 $13,899,217,680
2013 $96,570,334,000 $14,264,205,153
2012 $87,735,048,000 $14,807,086,556
2011 $78,986,648,000 $14,444,661,522
2010 $68,151,329,000 $13,220,549,908
2009 $60,094,978,000 $12,120,458,115
2008 $61,139,438,000 $13,709,401,520
2007 $49,848,725,000 $12,799,600,047
2006 $45,690,762,000 $11,930,179,090
2005 $40,278,849,000 $11,243,865,778
2004 $35,194,947,000 $10,174,664,854
2003 $30,965,208,000 $9,430,234,811
2002 $27,054,197,000 $9,719,009,495
2001 $23,127,055,000 $9,194,727,831
2000 $17,539,454,727 $9,005,064,475
1999 $19,645,272,636 $8,887,057,997
1998 $27,981,896,948 $8,787,195,622
1997 $28,162,053,027 $8,400,041,724
1996 $25,226,393,197 $7,393,891,921
1995 $24,432,884,442 $6,577,520,643
1994 $22,708,673,337 $5,452,558,947
1993 $18,938,717,359 $5,440,075,676
1992 $18,094,238,119 $3,535,460,090
1991 $16,988,535,268 $4,106,207,649
1990 $15,239,272,612 $4,592,208,087
1989 $13,890,823,705 $4,404,937,853
1988 $13,051,881,851 $3,828,342,820
1987 $13,945,426,859 $3,287,007,322
1986 $15,314,138,472 $2,754,549,582
1985 $17,149,088,413 $2,100,239,019
1984 $16,912,509,092 $2,373,564,549
1983 $17,152,477,037 $3,619,262,277
1982 $19,929,846,396 $3,293,496,312
1981 $21,810,759,354 $2,979,027,966
1980 $17,881,508,242 $2,679,379,372
1979 $14,175,160,902 $2,425,064,229
1978 $11,922,497,876 $2,644,527,822
1977 $11,026,342,618 $3,249,733,140
1976 $9,091,921,030 $2,966,042,856
1975 $7,731,674,472 $2,860,442,750
1974 $6,599,257,044 $2,375,122,375
1973 $3,891,754,150 $1,905,917,553
1972 $3,185,986,087 $1,875,146,587
1971 $2,754,219,271 $1,539,861,816
1970 $2,862,503,139 $1,404,720,442
1969 $3,112,165,727 $1,191,239,047
1968 $2,582,179,864 $1,083,839,133
1967 $2,553,595,172 $1,148,014,311
1966 $2,429,308,639 $1,096,759,561
1965 $2,387,047,396 $972,159,611
1964 $2,244,146,103 $897,949,001
1963 $1,824,343,871 $826,706,669
1962 $1,518,207,703 $777,727,689
1961 $1,753,850,955 $748,043,501
1960 $2,069,464,937 $699,064,380

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

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

GDP per capita in Ecuador vs Jamaica by year

Ecuador
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ecuador Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,875 $15,840 $7,754 $12,890
2023 $6,738 $15,919 $7,542 $12,651
2022 $6,516 $15,198 $6,626 $11,888
2021 $6,061 $13,507 $5,626 $10,431
2020 $5,464 $11,527 $5,299 $9,764
2019 $6,205 $12,543 $6,031 $10,845
2018 $6,304 $12,187 $5,977 $10,753
2017 $6,233 $11,793 $5,605 $10,466
2016 $5,918 $10,881 $5,302 $9,948
2015 $5,976 $10,878 $5,339 $9,476
2014 $6,406 $11,836 $4,975 $9,210
2013 $6,109 $11,296 $5,124 $9,101
2012 $5,634 $10,245 $5,341 $8,831
2011 $5,154 $9,769 $5,233 $8,809
2010 $4,520 $8,969 $4,810 $8,521
2009 $4,053 $8,662 $4,428 $8,580
2008 $4,195 $8,663 $5,030 $8,952
2007 $3,479 $8,112 $4,716 $8,893
2006 $3,244 $7,885 $4,417 $8,577
2005 $2,909 $7,457 $4,184 $8,127
2004 $2,586 $6,980 $3,808 $7,854
2003 $2,316 $6,475 $3,550 $7,593
2002 $2,059 $6,282 $3,681 $7,226
2001 $1,791 $5,999 $3,504 $7,019
2000 $1,382 $5,728 $3,453 $6,816
1999 $1,575 $5,638 $3,432 $6,653
1998 $2,284 $5,940 $3,419 $6,543
1997 $2,341 $5,793 $3,297 $6,682
1996 $2,136 $5,560 $2,929 $6,706
1995 $2,108 $5,469 $2,631 $6,657
1994 $1,997 $5,339 $2,203 $6,435
1993 $1,698 $5,112 $2,221 $6,279
1992 $1,655 $4,998 $1,458 $5,664
1991 $1,587 $4,887 $1,710 $5,485
1990 $1,455 $4,632 $1,930 $5,106
1989 $1,356 - $1,865 -
1988 $1,304 - $1,632 -
1987 $1,426 - $1,411 -
1986 $1,604 - $1,191 -
1985 $1,842 - $917 -
1984 $1,864 - $1,048 -
1983 $1,940 - $1,619 -
1982 $2,314 - $1,494 -
1981 $2,601 - $1,370 -
1980 $2,190 - $1,249 -
1979 $1,783 - $1,144 -
1978 $1,541 - $1,262 -
1977 $1,465 - $1,569 -
1976 $1,242 - $1,450 -
1975 $1,086 - $1,417 -
1974 $954 - $1,193 -
1973 $579 - $972 -
1972 $488 - $971 -
1971 $434 - $809 -
1970 $465 - $748 -
1969 $521 - $642 -
1968 $445 - $591 -
1967 $454 - $633 -
1966 $445 - $612 -
1965 $450 - $549 -
1964 $436 - $514 -
1963 $365 - $480 -
1962 $312 - $458 -
1961 $371 - $447 -
1960 $451 - $424 -

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

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

Ecuador's GDP per capita is $6,875, ranking 103/197, compared to $7,754 in Jamaica, ranking 95/197. Adjusted for purchasing power (GDP per capita PPP), Ecuador ranks 110th at $15,840, while Jamaica ranks 121st at $12,890.

Economic indicators

Ecuador Jamaica
Gross domestic product
$125B
2024
$22B
2024
GDP rank
62/197
2024
124/197
2024
GDP growth
-2%
2023-2024
-0.54%
2023-2024
GDP per capita
$6,875
2024
$7,754
2024
GDP per capita rank
103/197
2024
95/197
2024
GDP per capita, PPP
$15,840
2024
$12,890
2024
GDP per capita PPP rank
110/197
2024
121/197
2024
Government debt
$67B
2024
$14B
2024
Debt-to-GDP ratio
53.8%
2024
63.4%
2024
Government debt per person
$3,695
2024
$4,917
2024
Government debt per person rank
93/185
2024
79/185
2024
Average annual personal income after taxes
$5,894
2026
$6,905
2026
Market capitalization of domestic companies
$747M
2000
$12.4B
2024
Income share by richest 10%
33.4%
2024
29.6%
2021
Income share by poorest 10%
1.5%
2024
2.2%
2021
Government expenditure, % of GDP
38.1%
2024
30.5%
2024
Consumer prices inflation
1.55%
2023-2024
5.41%
2023-2024
Central bank interest rate n/a
5.75%
2025
Unemployment rate
3.39%
2024
3.02%
2023
Population
18487749
2834980

Spending and national debt comparison by year

Ecuador
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
Ecuador Jamaica
Government spending Government debt Government spending Government debt
2024 38.1% 53.8% 30.5% 63.4%
2023 39.5% 54.3% 28% 67.3%
2022 38.9% 57.2% 28.4% 73.5%
2021 37.5% 61.8% 29% 90.9%
2020 40.2% 63.6% 29.8% 100.1%
2019 39.8% 52.1% 27.8% 88.6%
2018 40.9% 49.5% 27.8% 89.2%
2017 40.5% 47.4% 27.3% 96.7%
2016 44.1% 46.1% 27% 109.1%
2015 44.1% 36.4% 26.3% 117.6%
2014 45.9% 28.2% 26.5% 136.7%
2013 46.7% 23.4% 26.9% 138.1%
2012 43.2% 19.3% 29.6% 143%
2011 39.6% 18.6% 31.7% 138.1%
2010 35.4% 18.4% 32.9% 140.1%
2009 34.3% 19.7% 38.6% 141.5%
2008 35.6% 24.9% 34.4% 125.6%
2007 24.7% 29.6% 31.6% 115.3%
2006 21.7% 33.1% 31.2% 118%
2005 22% 35.8% 29.3% 124.5%
2004 21.3% 40.2% 31.5% 120.1%
2003 21.3% 47.2% 32.5% 125.5%
2002 22.8% 55% 31.1% 119.1%
2001 21.4% 63.8% 28.5% 107.9%
2000 24.3% 92.2% 26.2% 91.3%
1999 24.1% 105.2% 28.9% 83.5%
1998 21.5% 70.3% 28.3% 75.6%
1997 22% 61.5% 28.3% 74.4%
1996 22.7% 69.3% 27.7% 70.2%
1995 22% 70.5% 23.1% 85.2%
1994 - - 21.5% 90.4%
1993 - - 21.5% 106.2%
1992 - - 20% 100.4%
1991 - - 24.5% 175.1%
1990 - - 25.7% 128.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–2000, retrieved 2026-02-20).

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

In 2024, Ecuador's government spending was $47.5B, accounting for 38.1% of its GDP, while Jamaica spent $6.72B, or 30.5% of GDP.

Debt-to-GDP ratio is 53.8% in Ecuador and 63.4% in Jamaica, ranking 98/185 and 73/185, respectively.

Government deficit by year

Deficit/surplus
Ecuador

Jamaica
1x
Year Deficit/surplus, % of GDP
Ecuador Jamaica
2024 -1.28% 0.22%
2023 -3.48% 0.04%
2022 0.04% 0.27%
2021 -1.59% 0.89%
2020 -7.38% -2.83%
2019 -3.47% 0.85%
2018 -2.8% 1.12%
2017 -5.77% 0.43%
2016 -10.3% -0.19%
2015 -6.87% -0.28%
2014 -8.11% -0.49%
2013 -8.17% 0.12%
2012 -2.83% -4.05%
2011 -0.13% -6.34%
2010 -1.39% -6.27%
2009 -3.71% -11.1%
2008 0.57% -7.43%
2007 2.66% -3.82%
2006 2.92% -4.9%
2005 0.66% -3.3%
2004 1.94% -4.68%
2003 1.05% -5.67%
2002 0.74% -6.77%
2001 0.03% -4.89%
2000 -0.32% -0.8%
1999 -4.82% -3.53%
1998 -5.1% -5.82%
1997 -2.83% -6.54%
1996 -3.44% -5.32%
1995 -2.02% 1.6%
1994 - 2.59%
1993 - 2.6%
1992 - 3.11%
1991 - 3.87%
1990 - 2.34%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

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

In 2024, Ecuador's government deficit, the difference between spending and revenue, was $1.59B, equivalent to 1.28% of GDP. This compares to Jamaica's surplus of $49.1M, or 0.22% of GDP.

Over the past 30 years, Ecuador recorded a fiscal deficit in 21 of those years, while Jamaica ran a deficit in 21 years. On average, Ecuador posted an annual deficit equal to 2.51% of GDP, compared to deficit of 2.98% of GDP for Jamaica.

Inflation comparison by year

Inflation
Ecuador

Jamaica
1x
Year Consumer prices inflation
Ecuador Jamaica
2024 1.55% 5.41%
2023 2.22% 6.47%
2022 3.47% 10.3%
2021 0.13% 5.86%
2020 -0.34% 5.23%
2019 0.27% 3.91%
2018 -0.22% 3.74%
2017 0.42% 4.38%
2016 1.73% 2.35%
2015 3.97% 3.69%
2014 3.59% 8.27%
2013 2.72% 9.34%
2012 5.1% 6.87%
2011 4.47% 7.56%
2010 3.55% 12.6%
2009 5.16% 9.59%
2008 8.4% 22%
2007 2.28% 9.24%
2006 3.3% 8.56%
2005 2.17% 15.1%
2004 2.74% 13.6%
2003 7.93% 10.1%
2002 12.5% 7.08%
2001 37.7% 6.8%
2000 96.1% 8.17%
1999 52.2% 5.95%
1998 36.1% 8.63%
1997 30.7% 9.66%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Ecuador has recorded an average annual inflation rate of 11.8%, compared with 8.23% in Jamaica. In 2024, inflation was 1.55% in Ecuador and 5.41% in Jamaica.

Top exports between countries

Ecuador
Export category Export value
Raw materials & minerals $70.7M
Textiles & consumer goods $2.31M
Processed food, beverages & tobacco $2.23M
Metals $1.8M
Raw agricultural goods $927K
Chemicals & pharma $400K
Machinery & equipment $190K
Miscellaneous $3K
Precious metals & jewellery $2K
Wood & paper products $1K
Jamaica
Export category Export value
Machinery & equipment $1.64M
Processed food, beverages & tobacco $148K
Wood & paper products $17K
Textiles & consumer goods $16K

Balance of trade

Ecuador Jamaica
Current account balance
$7.06B
2024
$679M
2024
Current account balance ranking
27/190
2024
56/190
2024
Current account balance, % of GDP
+5.66%
2024
+3.08%
2024
Goods imports
$27.9B
2024
$6.07B
2024
Goods exports
$34.7B
2024
$1.87B
2024
Service imports
$6.18B
2024
$3.46B
2024
Service exports
$3.86B
2024
$5.26B
2024
Imports of goods and services, % of GDP
26.9%
2024
52.1%
2019
Exports of goods and services, % of GDP
30.3%
2024
38%
2019

Economic freedom indices

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

Ecuador Jamaica
Economic freedom 55.6 68.2
Economic freedom ranking 127/197 48/197
Property rights 33.2 66.8
Government integrity 33 49.4
Judicial effectiveness 48.1 75.6
Tax burden 74.2 76.3
Government spending 54.9 76
Fiscal health 90.3 92.2
Business freedom 64.3 68.5
Labor freedom 56.9 59.2
Monetary freedom 76.3 74.2
Trade freedom 66.4 70.4
Investment freedom 30 60
Financial freedom 40 50

Economic freedom comparison by year

Ecuador
Jamaica
1x
Year Economic freedom index
Ecuador Jamaica
2026 55.6 68.2
2025 55.8 68.7
2024 55 68.1
2023 55 68.1
2022 54.3 67.4
2021 52.4 69
2020 51.3 68.5
2019 46.9 68.6
2018 48.5 69.1
2017 49.3 69.5
2016 48.6 67.5
2015 49.2 67.7
2014 48 66.7
2013 46.9 66.8
2012 48.3 65.1
2011 47.1 65.7
2010 49.3 65.5
2009 52.5 65.2
2008 55.2 65.7
2007 55.3 65.5
2006 54.6 66.4
2005 52.9 67
2004 54.4 66.7
2003 54.1 67
2002 53.1 61.7
2001 55.1 63.7
2000 59.8 65.5
1999 62.9 64.7
1998 62.8 67.1
1997 61 67.7
1996 60.1 66.7
1995 57.7 64.4

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

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

The Economic Freedom Index for Ecuador is 55.6, ranking 127/197, 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

Ecuador Jamaica
Services, % of GDP
57.2%
2024
60%
2024
Industry, % of GDP
26.5%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
9.48%
2024
7.97%
2024
GNI, Atlas method
$117B
2024
$20.5B
2024
GNI per capita, PPP
$15,410
2024
$12,690
2024
Total reserves including gold
$6.91B
2024
$5.63B
2024
Total reserves ranking
87/177
2024
93/177
2024
Net foreign direct investment
-$438M
2024
-$304M
2024
Net inflows of foreign direct investment
$443M
2024
$305M
2024
Net outflows of foreign direct investment
$0
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI
7%
2024
11.3%
2024
Poverty at national poverty lines
28%
2024
8.2%
2023
Gross capital formation, % of GDP
18.5%
2024
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/ecuador/jamaica | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (1990–2000, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.