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Economy of El Salvador vs Jamaica compared: GDP & Debt

Updated on by Georank team

El Salvador has a GDP of $35.4B compared to $22B for Jamaica, ranking 105/197 and 124/197 by economy size, respectively.

El Salvador has $30.9B in government debt (87.5% of GDP), compared to $14B (63.4% of GDP) in Jamaica.

El Salvador vs Jamaica GDP by year

El Salvador
Jamaica
1x
Year GDP, current $
El Salvador Jamaica
2024 $35,364,960,000 $22,014,397,090
2023 $33,853,940,000 $21,418,804,320
2022 $31,870,120,000 $18,813,516,805
2021 $29,043,140,000 $15,963,885,376
2020 $24,921,190,000 $15,000,214,216
2019 $26,881,140,000 $17,026,269,263
2018 $26,020,850,000 $16,855,447,986
2017 $24,979,190,000 $15,783,583,237
2016 $24,191,430,000 $14,898,999,754
2015 $23,438,240,000 $14,963,589,916
2014 $22,593,470,000 $13,899,217,680
2013 $21,990,960,000 $14,264,205,153
2012 $21,386,150,000 $14,807,086,556
2011 $20,283,780,000 $14,444,661,522
2010 $18,447,920,000 $13,220,549,908
2009 $17,601,620,000 $12,120,458,115
2008 $17,986,890,000 $13,709,401,520
2007 $17,011,750,000 $12,799,600,047
2006 $15,999,890,000 $11,930,179,090
2005 $14,698,000,000 $11,243,865,778
2004 $13,724,810,900 $10,174,664,854
2003 $13,243,892,200 $9,430,234,811
2002 $12,664,190,300 $9,719,009,495
2001 $12,282,533,600 $9,194,727,831
2000 $11,784,927,700 $9,005,064,475
1999 $11,284,197,000 $8,887,057,997
1998 $10,936,669,900 $8,787,195,622
1997 $10,221,705,900 $8,400,041,724
1996 $9,586,327,800 $7,393,891,921
1995 $8,921,947,100 $6,577,520,643
1994 $7,679,384,000 $5,452,558,947
1993 $6,680,269,200 $5,440,075,676
1992 $5,813,399,300 $3,535,460,090
1991 $5,252,342,400 $4,106,207,649
1990 $4,817,542,204 $4,592,208,087
1989 $4,372,215,300 $4,404,937,853
1988 $4,189,880,000 $3,828,342,820
1987 $3,958,045,800 $3,287,007,322
1986 $3,771,663,200 $2,754,549,582
1985 $3,800,368,600 $2,100,239,019
1984 $3,661,683,400 $2,373,564,549
1983 $3,506,347,800 $3,619,262,277
1982 $3,399,189,100 $3,293,496,312
1981 $3,437,200,200 $2,979,027,966
1980 $3,573,959,900 $2,679,379,372
1979 $3,463,639,900 $2,425,064,229
1978 $3,127,960,000 $2,644,527,822
1977 $2,941,640,100 $3,249,733,140
1976 $2,328,280,100 $2,966,042,856
1975 $1,884,120,100 $2,860,442,750
1974 $1,665,880,000 $2,375,122,375
1973 $1,442,320,000 $1,905,917,553
1972 $1,263,720,000 $1,875,146,587
1971 $1,186,120,000 $1,539,861,816
1970 $1,132,920,000 $1,404,720,442
1969 $1,049,400,000 $1,191,239,047
1968 $1,009,760,100 $1,083,839,133
1967 $976,200,000 $1,148,014,311
1966 $929,520,000 $1,096,759,561
1965 $877,720,000 $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/el-salvador/jamaica | CC BY

GDP per capita in El Salvador vs Jamaica by year

El Salvador
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
El Salvador Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,580 $13,264 $7,754 $12,890
2023 $5,365 $12,680 $7,542 $12,651
2022 $5,075 $11,876 $6,626 $11,888
2021 $4,643 $10,810 $5,626 $10,431
2020 $3,997 $9,393 $5,299 $9,764
2019 $4,320 $9,757 $6,031 $10,845
2018 $4,184 $9,204 $5,977 $10,753
2017 $4,020 $8,965 $5,605 $10,466
2016 $3,901 $8,456 $5,302 $9,948
2015 $3,790 $7,934 $5,339 $9,476
2014 $3,666 $7,504 $4,975 $9,210
2013 $3,582 $7,093 $5,124 $9,101
2012 $3,498 $6,708 $5,341 $8,831
2011 $3,331 $6,594 $5,233 $8,809
2010 $3,040 $6,248 $4,810 $8,521
2009 $2,910 $6,063 $4,428 $8,580
2008 $2,983 $6,175 $5,030 $8,952
2007 $2,831 $5,949 $4,716 $8,893
2006 $2,666 $5,695 $4,417 $8,577
2005 $2,447 $5,292 $4,184 $8,127
2004 $2,286 $4,998 $3,808 $7,854
2003 $2,208 $4,829 $3,550 $7,593
2002 $2,115 $4,672 $3,681 $7,226
2001 $2,058 $4,543 $3,504 $7,019
2000 $1,983 $4,422 $3,453 $6,816
1999 $1,908 $4,298 $3,432 $6,653
1998 $1,860 $4,171 $3,419 $6,543
1997 $1,749 $4,043 $3,297 $6,682
1996 $1,651 $3,880 $2,929 $6,706
1995 $1,548 $3,808 $2,631 $6,657
1994 $1,344 $3,591 $2,203 $6,435
1993 $1,180 $3,390 $2,221 $6,279
1992 $1,041 $3,171 $1,458 $5,664
1991 $956 $2,945 $1,710 $5,485
1990 $892 $2,856 $1,930 $5,106
1989 $825 - $1,865 -
1988 $806 - $1,632 -
1987 $777 - $1,411 -
1986 $755 - $1,191 -
1985 $776 - $917 -
1984 $763 - $1,048 -
1983 $745 - $1,619 -
1982 $735 - $1,494 -
1981 $752 - $1,370 -
1980 $787 - $1,249 -
1979 $773 - $1,144 -
1978 $712 - $1,262 -
1977 $684 - $1,569 -
1976 $553 - $1,450 -
1975 $457 - $1,417 -
1974 $413 - $1,193 -
1973 $366 - $972 -
1972 $329 - $971 -
1971 $316 - $809 -
1970 $309 - $748 -
1969 $293.4 - $642 -
1968 $290.1 - $591 -
1967 $288.4 - $633 -
1966 $282.4 - $612 -
1965 $274.3 - $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/el-salvador/jamaica | CC BY

El Salvador's GDP per capita is $5,580, ranking 116/197, compared to $7,754 in Jamaica, ranking 95/197. Adjusted for purchasing power (GDP per capita PPP), El Salvador ranks 120th at $13,264, while Jamaica ranks 121st at $12,890.

Economic indicators

El Salvador Jamaica
Gross domestic product
$35.4B
2024
$22B
2024
GDP rank
105/197
2024
124/197
2024
GDP growth
2.6%
2023-2024
-0.54%
2023-2024
GDP per capita
$5,580
2024
$7,754
2024
GDP per capita rank
116/197
2024
95/197
2024
GDP per capita, PPP
$13,264
2024
$12,890
2024
GDP per capita PPP rank
120/197
2024
121/197
2024
Government debt
$30.9B
2024
$14B
2024
Debt-to-GDP ratio
87.5%
2024
63.4%
2024
Government debt per person
$4,883
2024
$4,917
2024
Government debt per person rank
81/185
2024
79/185
2024
Average annual personal income after taxes
$4,768
2026
$6,905
2026
Market capitalization of domestic companies n/a
$12.4B
2024
Income share by richest 10%
29.7%
2023
29.6%
2021
Income share by poorest 10%
1.9%
2023
2.2%
2021
Government expenditure, % of GDP
31.4%
2024
30.5%
2024
Consumer prices inflation
0.85%
2023-2024
5.41%
2023-2024
Central bank interest rate n/a
5.75%
2025
Unemployment rate
2.71%
2024
3.02%
2023
Population
6399793
2834980

Spending and national debt comparison by year

El Salvador
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
El Salvador Jamaica
Government spending Government debt Government spending Government debt
2024 31.4% 87.5% 30.5% 63.4%
2023 30.5% 85.1% 28% 67.3%
2022 28.7% 83.7% 28.4% 73.5%
2021 31.1% 88% 29% 90.9%
2020 32.7% 95.4% 29.8% 100.1%
2019 27.8% 77.9% 27.8% 88.6%
2018 27.6% 77% 27.8% 89.2%
2017 28.1% 77.1% 27.3% 96.7%
2016 27.5% 75.2% 27% 109.1%
2015 27.1% 73.5% 26.3% 117.6%
2014 27.6% 71.8% 26.5% 136.7%
2013 28.5% 69.7% 26.9% 138.1%
2012 27.4% 70% 29.6% 143%
2011 25.3% 65.6% 31.7% 138.1%
2010 25.6% 66.8% 32.9% 140.1%
2009 26% 65.8% 38.6% 141.5%
2008 24.5% 54.2% 34.4% 125.6%
2007 22.8% 52.2% 31.6% 115.3%
2006 23.4% 52.6% 31.2% 118%
2005 22.4% 46.3% 29.3% 124.5%
2004 21.5% 46.8% 31.5% 120.1%
2003 22.6% 46% 32.5% 125.5%
2002 22.5% 43.8% 31.1% 119.1%
2001 21.7% 37.8% 28.5% 107.9%
2000 21% 29.6% 26.2% 91.3%
1999 19.7% 28% 28.9% 83.5%
1998 19.3% 25.7% 28.3% 75.6%
1997 18.6% 27.8% 28.3% 74.4%
1996 21% 28.5% 27.7% 70.2%
1995 18.6% 28% 23.1% 85.2%
1994 18.9% 30.5% 21.5% 90.4%
1993 18.5% 31.9% 21.5% 106.2%
1992 20.8% 36.4% 20% 100.4%
1991 18.5% 43.3% 24.5% 175.1%
1990 15.9% - 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 (1990–1998, retrieved 2026-02-20).

GeoRank.org/economy/el-salvador/jamaica | CC BY

In 2024, El Salvador's government spending was $11.1B, accounting for 31.4% of its GDP, while Jamaica spent $6.72B, or 30.5% of GDP.

Debt-to-GDP ratio is 87.5% in El Salvador and 63.4% in Jamaica, ranking 36/185 and 73/185, respectively.

Government deficit by year

Deficit/surplus
El Salvador

Jamaica
1x
Year Deficit/surplus, % of GDP
El Salvador Jamaica
2024 -4.55% 0.22%
2023 -4.69% 0.04%
2022 -2.68% 0.27%
2021 -5.53% 0.89%
2020 -8.18% -2.83%
2019 -3.07% 0.85%
2018 -2.71% 1.12%
2017 -2.53% 0.43%
2016 -3.1% -0.19%
2015 -3.63% -0.28%
2014 -4.02% -0.49%
2013 -4.46% 0.12%
2012 -3.81% -4.05%
2011 -4.47% -6.34%
2010 -4.97% -6.27%
2009 -6.65% -11.1%
2008 -3.8% -7.43%
2007 -2.32% -3.82%
2006 -3.42% -4.9%
2005 -3.47% -3.3%
2004 -2.76% -4.68%
2003 -4.23% -5.67%
2002 -5.5% -6.77%
2001 -4.95% -4.89%
2000 -3.45% -0.8%
1999 -3.08% -3.53%
1998 -2.94% -5.82%
1997 -1.97% -6.54%
1996 -2.7% -5.32%
1995 -0.18% 1.6%
1994 -0.94% 2.59%
1993 -1.42% 2.6%
1992 -4.29% 3.11%
1991 -2.3% 3.87%
1990 -0.61% 2.34%

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

GeoRank.org/economy/el-salvador/jamaica | CC BY

In 2024, El Salvador's government deficit, the difference between spending and revenue, was $1.61B, equivalent to 4.55% of GDP. This compares to Jamaica's surplus of $49.1M, or 0.22% of GDP.

Over the past 35 years, El Salvador recorded a fiscal deficit in 35 of those years, while Jamaica ran a deficit in 21 years. On average, El Salvador posted an annual deficit equal to 3.52% of GDP, compared to deficit of 2.14% of GDP for Jamaica.

Inflation comparison by year

Inflation
El Salvador

Jamaica
1x
Year Consumer prices inflation
El Salvador Jamaica
2024 0.85% 5.41%
2023 4.05% 6.47%
2022 7.2% 10.3%
2021 3.47% 5.86%
2020 -0.37% 5.23%
2019 0.08% 3.91%
2018 1.09% 3.74%
2017 1.01% 4.38%
2016 0.6% 2.35%
2015 -0.73% 3.69%
2014 1.14% 8.27%
2013 0.76% 9.34%
2012 1.73% 6.87%
2011 5.13% 7.56%
2010 1.18% 12.6%
2009 1.06% 9.59%
2008 6.71% 22%
2007 4.58% 9.24%
2006 4.04% 8.56%
2005 4.69% 15.1%
2004 4.45% 13.6%
2003 2.12% 10.1%
2002 1.87% 7.08%
2001 3.75% 6.8%
2000 2.27% 8.17%
1999 0.51% 5.95%
1998 2.55% 8.63%
1997 4.49% 9.66%

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

GeoRank.org/economy/el-salvador/jamaica | CC BY

Over the past 28 years, El Salvador has recorded an average annual inflation rate of 2.51%, compared with 8.23% in Jamaica. In 2024, inflation was 0.85% in El Salvador and 5.41% in Jamaica.

Top exports between countries

El Salvador
Export category Export value
Chemicals & pharma $13.3M
Raw materials & minerals $3.65M
Processed food, beverages & tobacco $1.13M
Metals $851K
Wood & paper products $809K
Textiles & consumer goods $121K
Miscellaneous $76K
Machinery & equipment $70K
Jamaica
Export category Export value
Chemicals & pharma $58K
Processed food, beverages & tobacco $39K
Miscellaneous $30K
Machinery & equipment $13K
Wood & paper products $5K

Balance of trade

El Salvador Jamaica
Current account balance
-$633M
2024
$679M
2024
Current account balance ranking
110/190
2024
56/190
2024
Current account balance, % of GDP
-1.79%
2024
+3.08%
2024
Goods imports
$15.1B
2024
$6.07B
2024
Goods exports
$5.59B
2024
$1.87B
2024
Service imports
$3.26B
2024
$3.46B
2024
Service exports
$6B
2024
$5.26B
2024
Imports of goods and services, % of GDP
51.9%
2024
52.1%
2019
Exports of goods and services, % of GDP
32.8%
2024
38%
2019

Economic freedom indices

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

El Salvador Jamaica
Economic freedom 57.7 68.2
Economic freedom ranking 114/197 48/197
Property rights 42.7 66.8
Government integrity 31.5 49.4
Judicial effectiveness 15.3 75.6
Tax burden 76.8 76.3
Government spending 72.7 76
Fiscal health 59.4 92.2
Business freedom 65.7 68.5
Labor freedom 51.6 59.2
Monetary freedom 70.6 74.2
Trade freedom 76.4 70.4
Investment freedom 70 60
Financial freedom 60 50

Economic freedom comparison by year

El Salvador
Jamaica
1x
Year Economic freedom index
El Salvador Jamaica
2026 57.7 68.2
2025 56.6 68.7
2024 54.4 68.1
2023 56 68.1
2022 59.6 67.4
2021 61 69
2020 61.6 68.5
2019 61.8 68.6
2018 63.2 69.1
2017 64.1 69.5
2016 65.1 67.5
2015 65.7 67.7
2014 66.2 66.7
2013 66.7 66.8
2012 68.7 65.1
2011 68.8 65.7
2010 69.9 65.5
2009 69.8 65.2
2008 68.5 65.7
2007 68.9 65.5
2006 69.6 66.4
2005 71.5 67
2004 71.2 66.7
2003 71.5 67
2002 73 61.7
2001 73 63.7
2000 76.3 65.5
1999 75.1 64.7
1998 70.2 67.1
1997 70.5 67.7
1996 70.1 66.7
1995 69.1 64.4

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

GeoRank.org/economy/el-salvador/jamaica | CC BY

The Economic Freedom Index for El Salvador is 57.7, ranking 114/197, 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

El Salvador Jamaica
Services, % of GDP
61%
2024
60%
2024
Industry, % of GDP
22.4%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
4.38%
2024
7.97%
2024
GNI, Atlas method
$32.5B
2024
$20.5B
2024
GNI per capita, PPP
$12,420
2024
$12,690
2024
Total reserves including gold
$3.7B
2024
$5.63B
2024
Total reserves ranking
110/177
2024
93/177
2024
Net foreign direct investment
-$636M
2024
-$304M
2024
Net inflows of foreign direct investment
$924M
2024
$305M
2024
Net outflows of foreign direct investment
$288M
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI
35%
2024
11.3%
2024
Poverty at national poverty lines
27.2%
2023
8.2%
2023
Gross capital formation, % of GDP
20.3%
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/el-salvador/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. TradeMap (2021–2024, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20)
  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.