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Economy of Ethiopia vs Jamaica compared: GDP & Debt

Updated on by Georank team

Ethiopia has a GDP of $150B compared to $22B for Jamaica, ranking 60/197 and 124/197 by economy size, respectively.

Ethiopia has $48.9B in government debt (32.7% of GDP), compared to $14B (63.4% of GDP) in Jamaica.

Ethiopia vs Jamaica GDP by year

Ethiopia
Jamaica
1x
Year GDP, current $
Ethiopia Jamaica
2024 $149,740,297,953 $22,014,397,090
2023 $135,874,093,202 $21,418,804,320
2022 $123,140,304,666 $18,813,516,805
2021 $109,070,960,372 $15,963,885,376
2020 $98,676,811,061 $15,000,214,216
2019 $91,834,517,113 $17,026,269,263
2018 $83,337,901,072 $16,855,447,986
2017 $76,366,081,767 $15,783,583,237
2016 $68,475,871,210 $14,898,999,754
2015 $62,103,418,182 $14,963,589,916
2014 $55,612,228,234 $13,899,217,680
2013 $47,648,276,605 $14,264,205,153
2012 $43,310,721,414 $14,807,086,556
2011 $31,952,763,089 $14,444,661,522
2010 $29,933,790,334 $13,220,549,908
2009 $32,437,389,116 $12,120,458,115
2008 $27,066,912,635 $13,709,401,520
2007 $19,707,616,773 $12,799,600,047
2006 $15,280,861,835 $11,930,179,090
2005 $12,401,139,454 $11,243,865,778
2004 $10,131,187,261 $10,174,664,854
2003 $8,623,691,300 $9,430,234,811
2002 $7,850,809,498 $9,719,009,495
2001 $8,231,326,016 $9,194,727,831
2000 $8,242,349,618 $9,005,064,475
1999 $7,892,973,532 $8,887,057,997
1998 $8,013,274,132 $8,787,195,622
1997 $8,803,539,988 $8,400,041,724
1996 $8,761,215,548 $7,393,891,921
1995 $7,855,205,207 $6,577,520,643
1994 $7,100,806,754 $5,452,558,947
1993 $9,051,043,870 $5,440,075,676
1992 $10,754,799,037 $3,535,460,090
1991 $13,799,799,324 $4,106,207,649
1990 $12,478,943,895 $4,592,208,087
1989 $11,762,932,007 $4,404,937,853
1988 $11,181,119,718 $3,828,342,820
1987 $10,790,001,558 $3,287,007,322
1986 $10,094,328,898 $2,754,549,582
1985 $9,717,392,687 $2,100,239,019
1984 $8,298,309,581 $2,373,564,549
1983 $8,781,664,427 $3,619,262,277
1982 $7,899,988,841 $3,293,496,312
1981 $7,507,663,567 $2,979,027,966
1980 $7,012,585,454 $2,679,379,372
1979 $6,586,048,398 $2,425,064,229
1978 $6,014,961,435 $2,644,527,822
1977 $5,651,840,585 $3,249,733,140
1976 $4,943,806,093 $2,966,042,856
1975 $4,577,047,854 $2,860,442,750
1974 $4,577,209,966 $2,375,122,375
1973 $4,070,570,550 $1,905,917,553
1972 $3,520,252,938 $1,875,146,587
1971 $3,224,280,835 $1,539,861,816
1970 $3,045,354,455 $1,404,720,442
1969 $2,768,987,372 $1,191,239,047
1968 $2,619,948,865 $1,083,839,133
1967 $2,461,762,003 $1,148,014,311
1966 $2,324,466,416 $1,096,759,561
1965 $2,159,998,591 $972,159,611
1964 $1,984,129,186 $897,949,001
1963 $1,825,058,828 $826,706,669
1962 $1,747,566,307 $777,727,689
1961 $1,680,859,514 $748,043,501
1960 $1,610,511,694 $699,064,380

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

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

GDP per capita in Ethiopia vs Jamaica by year

Ethiopia
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Ethiopia Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $1,134 $3,288 $7,754 $12,890
2023 $1,056 $3,061 $7,542 $12,651
2022 $982 $2,845 $6,626 $11,888
2021 $893 $2,588 $5,626 $10,431
2020 $830 $2,407 $5,299 $9,764
2019 $793 $2,242 $6,031 $10,845
2018 $740 $2,095 $5,977 $10,753
2017 $696 $2,005 $5,605 $10,466
2016 $642 $1,858 $5,302 $9,948
2015 $598 $1,633 $5,339 $9,476
2014 $550 $1,485 $4,975 $9,210
2013 $484 $1,253 $5,124 $9,101
2012 $452 $1,179 $5,341 $8,831
2011 $343 $1,098 $5,233 $8,809
2010 $331 $996 $4,810 $8,521
2009 $369 $899 $4,428 $8,580
2008 $316 $845 $5,030 $8,952
2007 $237.1 $770 $4,716 $8,893
2006 $189.3 $693 $4,417 $8,577
2005 $158.2 $625 $4,184 $8,127
2004 $133.2 $558 $3,808 $7,854
2003 $116.8 $493 $3,550 $7,593
2002 $109.6 $509 $3,681 $7,226
2001 $118.5 $509 $3,504 $7,019
2000 $122.3 $474 $3,453 $6,816
1999 $120.7 $450 $3,432 $6,653
1998 $126.5 $436 $3,419 $6,543
1997 $143.4 $461 $3,297 $6,682
1996 $147.3 $453 $2,929 $6,706
1995 $136.5 $409 $2,631 $6,657
1994 $127.7 $391 $2,203 $6,435
1993 $168.5 $384 $2,221 $6,279
1992 $207.4 $343 $1,458 $5,664
1991 $277.6 $383 $1,710 $5,485
1990 $262.1 $417 $1,930 $5,106
1989 $256.4 - $1,865 -
1988 $253.2 - $1,632 -
1987 $254.1 - $1,411 -
1986 $246 - $1,191 -
1985 $243.9 - $917 -
1984 $214.2 - $1,048 -
1983 $232.7 - $1,619 -
1982 $215.3 - $1,494 -
1981 $212.7 - $1,370 -
1980 $203.7 - $1,249 -
1979 $192.4 - $1,144 -
1978 $178.3 - $1,262 -
1977 $170.4 - $1,569 -
1976 $152 - $1,450 -
1975 $144.3 - $1,417 -
1974 $147.9 - $1,193 -
1973 $134.9 - $972 -
1972 $119.8 - $971 -
1971 $112.7 - $809 -
1970 $109.4 - $748 -
1969 $102.3 - $642 -
1968 $99.5 - $591 -
1967 $96.1 - $633 -
1966 $93.2 - $612 -
1965 $88.9 - $549 -
1964 $83.8 - $514 -
1963 $79.2 - $480 -
1962 $77.8 - $458 -
1961 $76.7 - $447 -
1960 $75.3 - $424 -

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

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

Ethiopia's GDP per capita is $1,134, ranking 171/197, compared to $7,754 in Jamaica, ranking 95/197. Adjusted for purchasing power (GDP per capita PPP), Ethiopia ranks 175th at $3,288, while Jamaica ranks 121st at $12,890.

Economic indicators

Ethiopia Jamaica
Gross domestic product
$150B
2024
$22B
2024
GDP rank
60/197
2024
124/197
2024
GDP growth
7.61%
2023-2024
-0.54%
2023-2024
GDP per capita
$1,134
2024
$7,754
2024
GDP per capita rank
171/197
2024
95/197
2024
GDP per capita, PPP
$3,288
2024
$12,890
2024
GDP per capita PPP rank
175/197
2024
121/197
2024
Government debt
$48.9B
2024
$14B
2024
Debt-to-GDP ratio
32.7%
2024
63.4%
2024
Government debt per person
$370
2024
$4,917
2024
Government debt per person rank
172/185
2024
79/185
2024
Average annual personal income after taxes
$1,946
2026
$6,905
2026
Market capitalization of domestic companies n/a
$12.4B
2024
Income share by richest 10%
24.8%
2021
29.6%
2021
Income share by poorest 10%
3.5%
2021
2.2%
2021
Government expenditure, % of GDP
9.54%
2024
30.5%
2024
Consumer prices inflation
21%
2023-2024
5.41%
2023-2024
Central bank interest rate n/a
5.75%
2025
Unemployment rate
3.94%
2021
3.02%
2023
Population
139917664
2834980

Spending and national debt comparison by year

Ethiopia
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
Ethiopia Jamaica
Government spending Government debt Government spending Government debt
2024 9.54% 32.7% 30.5% 63.4%
2023 10.8% 38.7% 28% 67.3%
2022 12.7% 46.9% 28.4% 73.5%
2021 13.8% 53.8% 29% 90.9%
2020 14.5% 53.7% 29.8% 100.1%
2019 15.4% 54.7% 27.8% 88.6%
2018 16.1% 58.4% 27.8% 89.2%
2017 18% 55.3% 27.3% 96.7%
2016 17.9% 51.8% 27% 109.1%
2015 17.3% 50.7% 26.3% 117.6%
2014 17.5% 44.2% 26.5% 136.7%
2013 17.8% 44.1% 26.9% 138.1%
2012 16.6% 39.4% 29.6% 143%
2011 18.2% 44.6% 31.7% 138.1%
2010 18.5% 39.4% 32.9% 140.1%
2009 17.1% 30% 38.6% 141.5%
2008 18.8% 56.1% 34.4% 125.6%
2007 20.5% 55.7% 31.6% 115.3%
2006 22.1% 79.6% 31.2% 118%
2005 22.9% 78.2% 29.3% 124.5%
2004 23.1% 103.1% 31.5% 120.1%
2003 27% 103.7% 32.5% 125.5%
2002 24.9% 107.4% 31.1% 119.1%
2001 22.4% 97.3% 28.5% 107.9%
2000 25.6% 93.6% 26.2% 91.3%
1999 25.8% 94.3% 28.9% 83.5%
1998 20.4% 86% 28.3% 75.6%
1997 17.3% 77.4% 28.3% 74.4%
1996 18.2% 129% 27.7% 70.2%
1995 16.9% 142.3% 23.1% 85.2%
1994 17.1% 150.7% 21.5% 90.4%
1993 13.4% 136.9% 21.5% 106.2%
1992 13.8% 85.4% 20% 100.4%
1991 16.8% 89.3% 24.5% 175.1%
1990 20.3% 91.6% 25.7% 128.8%
1989 24% 84.7% - -
1988 21.6% 84.3% - -
1987 18.4% 82.3% - -
1986 19.8% 75.7% - -
1985 19.7% 67.7% - -
1984 18.8% 65.4% - -
1983 21.3% 55.2% - -
1982 16.4% 48.8% - -
1981 14.2% 30.6% - -
1980 13.5% 18.5% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1998, retrieved 2026-02-20).

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

In 2024, Ethiopia's government spending was $14.3B, accounting for 9.54% of its GDP, while Jamaica spent $6.72B, or 30.5% of GDP.

Debt-to-GDP ratio is 32.7% in Ethiopia and 63.4% in Jamaica, ranking 150/185 and 73/185, respectively.

Government deficit by year

Deficit/surplus
Ethiopia

Jamaica
1x
Year Deficit/surplus, % of GDP
Ethiopia Jamaica
2024 -1.99% 0.22%
2023 -2.6% 0.04%
2022 -4.16% 0.27%
2021 -2.77% 0.89%
2020 -2.76% -2.83%
2019 -2.53% 0.85%
2018 -3.03% 1.12%
2017 -3.24% 0.43%
2016 -2.3% -0.19%
2015 -1.95% -0.28%
2014 -2.58% -0.49%
2013 -1.93% 0.12%
2012 -1.17% -4.05%
2011 -1.61% -6.34%
2010 -1.32% -6.27%
2009 -0.93% -11.1%
2008 -2.88% -7.43%
2007 -3.57% -3.82%
2006 -3.79% -4.9%
2005 -4.12% -3.3%
2004 -2.65% -4.68%
2003 -5.59% -5.67%
2002 -5.76% -6.77%
2001 -3.76% -4.89%
2000 -8.88% -0.8%
1999 -8.23% -3.53%
1998 -3.51% -5.82%
1997 -1.7% -6.54%
1996 -3.81% -5.32%
1995 -2.68% 1.6%
1994 -5.23% 2.59%
1993 -4% 2.6%
1992 -4.78% 3.11%
1991 -5.83% 3.87%
1990 -6.66% 2.34%
1989 -4.33% -
1988 -3.48% -
1987 -3.54% -
1986 -3.98% -
1985 -4.71% -
1984 -3.69% -
1983 -7.59% -
1982 -3.6% -
1981 -2.19% -
1980 -2.56% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1980–1989, retrieved 2026-02-20).

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

In 2024, Ethiopia's government deficit, the difference between spending and revenue, was $2.98B, equivalent to 1.99% of GDP. This compares to Jamaica's surplus of $49.1M, or 0.22% of GDP.

Over the past 35 years, Ethiopia recorded a fiscal deficit in 35 of those years, while Jamaica ran a deficit in 21 years. On average, Ethiopia posted an annual deficit equal to 3.55% of GDP, compared to deficit of 2.14% of GDP for Jamaica.

Inflation comparison by year

Inflation
Ethiopia

Jamaica
1x
Year Consumer prices inflation
Ethiopia Jamaica
2024 21% 5.41%
2023 30.2% 6.47%
2022 33.9% 10.3%
2021 26.8% 5.86%
2020 20.4% 5.23%
2019 15.8% 3.91%
2018 13.8% 3.74%
2017 10.7% 4.38%
2016 6.63% 2.35%
2015 9.57% 3.69%
2014 6.89% 8.27%
2013 7.46% 9.34%
2012 23.6% 6.87%
2011 33.2% 7.56%
2010 8.15% 12.6%
2009 8.48% 9.59%
2008 44.4% 22%
2007 17.2% 9.24%
2006 12.3% 8.56%
2005 9.97% 15.1%
2004 3.33% 13.6%
2003 13.7% 10.1%
2002 0.68% 7.08%
2001 -8.24% 6.8%
2000 0.66% 8.17%
1999 7.94% 5.95%
1998 0.89% 8.63%
1997 2.4% 9.66%

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

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

Over the past 28 years, Ethiopia has recorded an average annual inflation rate of 13.6%, compared with 8.23% in Jamaica. In 2024, inflation was 21% in Ethiopia and 5.41% in Jamaica.

Top exports between countries

Ethiopia
Export category Export value
Raw agricultural goods $43K
Jamaica
Export category Export value

Balance of trade

Ethiopia Jamaica
Current account balance
-$3.79B
2024
$679M
2024
Current account balance ranking
160/190
2024
56/190
2024
Current account balance, % of GDP
-2.53%
2024
+3.08%
2024
Goods imports
$19.6B
2024
$6.07B
2024
Goods exports
$5.58B
2024
$1.87B
2024
Service imports
$5.51B
2024
$3.46B
2024
Service exports
$7.61B
2024
$5.26B
2024
Imports of goods and services, % of GDP
11.9%
2024
52.1%
2019
Exports of goods and services, % of GDP
5.54%
2024
38%
2019

Economic freedom indices

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

Ethiopia Jamaica
Economic freedom 48.1 68.2
Economic freedom ranking 171/197 48/197
Property rights 22.1 66.8
Government integrity 33.2 49.4
Judicial effectiveness 19.1 75.6
Tax burden 78.6 76.3
Government spending 96.4 76
Fiscal health 84.3 92.2
Business freedom 44.5 68.5
Labor freedom 37.8 59.2
Monetary freedom 53.7 74.2
Trade freedom 57.4 70.4
Investment freedom 30 60
Financial freedom 20 50

Economic freedom comparison by year

Ethiopia
Jamaica
1x
Year Economic freedom index
Ethiopia Jamaica
2026 48.1 68.2
2025 48.1 68.7
2024 47.9 68.1
2023 48.3 68.1
2022 49.6 67.4
2021 51.7 69
2020 53.6 68.5
2019 53.6 68.6
2018 52.8 69.1
2017 52.7 69.5
2016 51.5 67.5
2015 51.5 67.7
2014 50 66.7
2013 49.4 66.8
2012 52 65.1
2011 50.5 65.7
2010 51.2 65.5
2009 53 65.2
2008 52.5 65.7
2007 53.6 65.5
2006 50.9 66.4
2005 51.1 67
2004 54.5 66.7
2003 48.8 67
2002 49.8 61.7
2001 48.9 63.7
2000 50.2 65.5
1999 46.7 64.7
1998 49.2 67.1
1997 48.1 67.7
1996 45.9 66.7
1995 42.6 64.4

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

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

The Economic Freedom Index for Ethiopia is 48.1, ranking 171/197, 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

Ethiopia Jamaica
Services, % of GDP
37.5%
2024
60%
2024
Industry, % of GDP
25.4%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
34.8%
2024
7.97%
2024
GNI, Atlas method
$146B
2024
$20.5B
2024
GNI per capita, PPP
$3,280
2024
$12,690
2024
Total reserves including gold
$3.78B
2024
$5.63B
2024
Total reserves ranking
109/177
2024
93/177
2024
Net foreign direct investment
-$4.02B
2024
-$304M
2024
Net inflows of foreign direct investment
$4.02B
2024
$305M
2024
Net outflows of foreign direct investment
$0
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI
0.91%
2024
11.3%
2024
Poverty at national poverty lines
33.1%
2021
8.2%
2023
Gross capital formation, % of GDP
20.6%
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/ethiopia/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. International Monetary Fund (IMF) | Public Finances in Modern History (1980–1998, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2023, retrieved 2026-02-08)

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.