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Economy of Israel vs Jamaica compared: GDP & Debt

Updated on by Georank

Israel has a GDP of $611B compared to $22.7B for Jamaica, ranking 27/197 and 125/197 by economy size, respectively.

Israel has $418B in government debt (68.5% of GDP), compared to $15.4B (67.7% of GDP) in Jamaica.

Israel vs Jamaica GDP by year

Israel
Jamaica
1x
Year GDP, current $
Israel Jamaica
2025 $610,777,842,874 $22,704,903,218
2024 $542,284,494,491 $22,014,429,051
2023 $513,393,395,492 $21,418,797,833
2022 $525,157,951,213 $18,813,516,805
2021 $489,735,019,666 $15,963,885,376
2020 $410,908,899,711 $15,000,214,216
2019 $399,207,771,082 $17,026,269,263
2018 $375,470,422,244 $16,855,447,986
2017 $357,360,816,857 $15,783,583,237
2016 $321,083,954,798 $14,898,999,754
2015 $302,841,190,258 $14,963,589,916
2014 $314,376,760,832 $13,899,217,680
2013 $298,045,324,736 $14,264,205,153
2012 $263,172,104,091 $14,807,086,556
2011 $267,739,352,609 $14,444,661,522
2010 $239,372,857,534 $13,220,549,908
2009 $213,112,649,594 $12,120,458,115
2008 $220,952,472,408 $13,709,401,520
2007 $184,448,882,452 $12,799,600,047
2006 $158,706,516,002 $11,930,179,090
2005 $147,346,035,831 $11,243,865,778
2004 $139,925,423,025 $10,174,664,854
2003 $131,278,887,815 $9,430,234,811
2002 $125,215,963,105 $9,719,009,495
2001 $134,889,159,474 $9,194,727,831
2000 $136,409,902,632 $9,005,064,475
1999 $121,329,240,042 $8,887,057,997
1998 $120,468,659,246 $8,787,195,622
1997 $119,389,303,067 $8,400,041,724
1996 $115,051,957,577 $7,393,891,921
1995 $105,432,315,611 $6,577,520,643
1994 $90,684,108,118 $5,452,558,947
1993 $79,806,598,120 $5,440,075,676
1992 $79,408,652,426 $3,535,460,090
1991 $70,954,941,681 $4,106,207,649
1990 $61,978,459,022 $4,592,208,087
1989 $52,411,116,588 $4,404,937,853
1988 $52,618,458,014 $3,828,342,820
1987 $43,022,977,765 $3,287,007,322
1986 $35,812,041,620 $2,754,549,582
1985 $28,887,898,639 $2,100,239,019
1984 $30,626,695,891 $2,373,564,549
1983 $32,655,591,256 $3,619,262,277
1982 $29,237,231,967 $3,293,496,312
1981 $26,865,420,933 $2,979,027,966
1980 $25,379,585,067 $2,679,379,372
1979 $22,595,788,591 $2,425,064,229
1978 $17,690,363,444 $2,644,527,822
1977 $18,245,847,441 $3,249,733,140
1976 $15,946,502,888 $2,966,042,856
1975 $16,131,806,290 $2,860,442,750
1974 $17,162,009,924 $2,375,122,375
1973 $11,895,229,181 $1,905,917,553
1972 $9,216,866,299 $1,875,146,587
1971 $7,048,191,876 $1,539,861,816
1970 $7,402,142,195 $1,404,720,442
1969 $6,293,966,357 $1,191,239,047
1968 $5,455,059,532 $1,083,839,133
1967 $4,759,447,914 $1,148,014,311
1966 $4,700,397,692 $1,096,759,561
1965 $4,326,412,951 $972,159,611
1964 $4,021,861,430 $897,949,001
1963 $3,533,767,055 $826,706,669
1962 $2,964,323,618 $777,727,689
1961 $3,706,297,903 $748,043,501
1960 $3,068,690,949 $699,064,380

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Israel vs Jamaica by year

Israel
GDP per capita

GDP per capita, PPP
Jamaica
GDP per capita

GDP per capita, PPP
1x
Year Current $
Israel Jamaica
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $60,337 - $8,003 -
2024 $54,217 $57,236 $7,754 $12,890
2023 $52,126 $55,171 $7,542 $12,651
2022 $54,947 $53,619 $6,626 $11,888
2021 $52,258 $46,162 $5,626 $10,431
2020 $44,591 $40,955 $5,299 $9,764
2019 $44,092 $41,325 $6,031 $10,845
2018 $42,269 $40,190 $5,977 $10,753
2017 $41,013 $39,471 $5,605 $10,466
2016 $37,571 $38,189 $5,302 $9,948
2015 $36,138 $35,871 $5,339 $9,476
2014 $38,265 $34,816 $4,975 $9,210
2013 $36,981 $34,827 $5,124 $9,101
2012 $33,269 $32,484 $5,341 $8,831
2011 $34,477 $31,314 $5,233 $8,809
2010 $31,399 $29,456 $4,810 $8,521
2009 $28,470 $28,087 $4,428 $8,580
2008 $30,231 $28,084 $5,030 $8,952
2007 $25,689 $28,307 $4,716 $8,893
2006 $22,500 $26,385 $4,417 $8,577
2005 $21,262 $25,701 $4,184 $8,127
2004 $20,550 $26,078 $3,808 $7,854
2003 $19,624 $24,702 $3,550 $7,593
2002 $19,059 $26,101 $3,681 $7,226
2001 $20,949 $25,806 $3,504 $7,019
2000 $21,690 $25,766 $3,453 $6,816
1999 $19,809 $23,415 $3,432 $6,653
1998 $20,176 $22,927 $3,419 $6,543
1997 $20,457 $22,279 $3,297 $6,682
1996 $20,213 $21,672 $2,929 $6,706
1995 $19,014 $20,642 $2,631 $6,657
1994 $16,796 $19,478 $2,203 $6,435
1993 $15,169 $18,218 $2,221 $6,279
1992 $15,500 $17,553 $1,458 $5,664
1991 $14,337 $16,486 $1,710 $5,485
1990 $13,300 $15,721 $1,930 $5,106
1989 $11,601 - $1,865 -
1988 $11,846 - $1,632 -
1987 $9,847 - $1,411 -
1986 $8,330 - $1,191 -
1985 $6,824 - $917 -
1984 $7,364 - $1,048 -
1983 $7,955 - $1,619 -
1982 $7,253 - $1,494 -
1981 $6,791 - $1,370 -
1980 $6,545 - $1,249 -
1979 $5,968 - $1,144 -
1978 $4,794 - $1,262 -
1977 $5,050 - $1,569 -
1976 $4,514 - $1,450 -
1975 $4,669 - $1,417 -
1974 $5,082 - $1,193 -
1973 $3,629 - $972 -
1972 $2,928 - $971 -
1971 $2,297 - $809 -
1970 $2,489 - $748 -
1969 $2,188 - $642 -
1968 $1,946 - $591 -
1967 $1,734 - $633 -
1966 $1,788 - $612 -
1965 $1,688 - $549 -
1964 $1,625 - $514 -
1963 $1,485 - $480 -
1962 $1,293 - $458 -
1961 $1,696 - $447 -
1960 $1,452 - $424 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Israel's GDP per capita is $60,337, ranking 19/197, compared to $8,003 in Jamaica, ranking 98/197. Adjusted for purchasing power (GDP per capita PPP), Israel ranks 36th at $57,236, while Jamaica ranks 121st at $12,890.

Economic indicators

Israel Jamaica
Gross domestic product
$611B
2025
$22.7B
2025
GDP rank
27/197
2025
125/197
2025
GDP growth
2.93%
2024-2025
0.08%
2024-2025
GDP per capita
$60,337
2025
$8,003
2025
GDP per capita rank
19/197
2025
98/197
2025
GDP per capita, PPP
$57,236
2024
$12,890
2024
GDP per capita PPP rank
36/197
2024
121/197
2024
Government debt
$418B
2025
$15.4B
2025
Debt-to-GDP ratio
68.5%
2025
67.7%
2025
Government debt per person
$41,338
2025
$5,419
2025
Government debt per person rank
16/185
2025
80/185
2025
Average annual personal income after taxes
$48,251
2026
$8,390
2026
Market capitalization of domestic companies
$331B
2024
$11.6B
2025
Number of millionaires
195,000
2026
n/a
Number of billionaires
42
2026
n/a
Income share by richest 10%
27%
2022
29.6%
2021
Income share by poorest 10%
1.8%
2022
2.2%
2021
Government expenditure, % of GDP
43.6%
2025
33.8%
2025
Consumer prices inflation
3.04%
2024-2025
4%
2024-2025
Central bank interest rate
3.75%
2026
5.75%
2025
Unemployment rate
3%
2025
3.02%
2023
Population
10334048
2834177

Spending and national debt comparison by year

Israel
Spending

Debt
Jamaica
Spending

Debt
1x
Year % of GDP
Israel Jamaica
Government spending Government debt Government spending Government debt
2025 43.6% 68.5% 33.8% 67.7%
2024 43.7% 67.7% 30.1% 62.5%
2023 39.6% 61.3% 27.7% 66.5%
2022 36.9% 60.3% 27.1% 70.2%
2021 40.1% 67.7% 27.6% 86.3%
2020 44.8% 71.1% 30.1% 101.3%
2019 38.7% 59.3% 27.5% 87.7%
2018 39.2% 60.1% 27.5% 88.3%
2017 38.4% 59.8% 26.9% 95.1%
2016 37.9% 61.7% 26.5% 106.9%
2015 37.6% 62.8% 25.9% 115.9%
2014 38.3% 65.8% 26.1% 134.4%
2013 39.7% 66% 26.3% 135.2%
2012 39.6% 66.9% 29.1% 140.3%
2011 39.3% 67.2% 31.2% 135.9%
2010 39.7% 69% 32.3% 137.8%
2009 41.4% 72.6% 37.7% 138.3%
2008 41.2% 70.2% 33.9% 123.8%
2007 40.2% 70.8% 30.6% 111.6%
2006 41.6% 77.7% 30.1% 114.2%
2005 42.3% 85.2% 28.6% 121.5%
2004 43% 88.3% 30.7% 116.9%
2003 45.4% 89.7% 31.1% 120.1%
2002 50% 87.2% 30.1% 115.4%
2001 46.1% 81.1% 27.8% 105.3%
2000 43.4% 77.2% 25.7% 89.5%
1999 53.6% 94.8% 27.9% 80.7%
1998 55% 101% 27.9% 75.6%
1997 52.6% 99.3% 27.6% 74.4%
1996 53.2% 100.3% 27.4% 70.2%
1995 52.8% 102.3% 22.1% 85.2%
1994 41.7% 110.2% 19.9% 90.4%
1993 42.2% 118.3% 19.6% 106.2%
1992 44.1% 119.6% 18.2% 100.4%
1991 34.4% 123.7% 19.9% 175.1%
1990 46.8% 138.3% 22.6% 128.8%
1989 47.5% 147.4% - -
1988 46.5% 145.4% - -
1987 52.8% 143.2% - -
1986 55.7% 162.5% - -
1985 65.2% 199% - -
1984 - 284% - -
1983 - 260.5% - -
1982 69.7% - - -
1981 71.8% - - -
1980 69.4% 154.3% - -
1979 70.1% 155.5% - -
1978 62.2% 133.6% - -
1977 69.1% 142% - -
1976 66.3% 97.4% - -
1975 62% 85.1% - -
1974 - 79.8% - -
1973 - 62.1% - -
1972 - 63.9% - -
1971 - - - -
1970 41.6% - - -
1969 41.1% - - -
1968 39.4% - - -
1967 33.9% - - -
1966 29.6% - - -
1965 27.8% - - -
1964 28.2% - - -
1963 26.9% - - -
1962 27.7% - - -
1961 30.3% - - -
1960 30.4% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Israel's government spending was $266B, accounting for 43.6% of its GDP, while Jamaica spent $7.68B, or 33.8% of GDP.

Debt-to-GDP ratio is 68.5% in Israel and 67.7% in Jamaica, ranking 60/185 and 62/185, respectively.

Government deficit by year

Deficit/surplus
Israel

Jamaica
1x
Year Deficit/surplus, % of GDP
Israel Jamaica
2025 -5.22% -3.77%
2024 -8.07% 0.22%
2023 -5.38% 0.04%
2022 0.3% 0.26%
2021 -3.37% 0.84%
2020 -10.6% -2.87%
2019 -3.79% 0.85%
2018 -3.58% 1.1%
2017 -1.17% 0.42%
2016 -1.78% -0.18%
2015 -1.2% -0.28%
2014 -2.28% -0.48%
2013 -4.07% 0.12%
2012 -4.46% -3.97%
2011 -3.43% -6.24%
2010 -3.72% -6.17%
2009 -6.53% -10.8%
2008 -3.49% -7.32%
2007 -0.43% -3.7%
2006 -0.94% -4.74%
2005 -2.74% -3.22%
2004 -3.4% -4.56%
2003 -5.03% -5.42%
2002 -8.21% -6.55%
2001 -4.06% -4.77%
2000 -0.8% -0.78%
1999 -6.26% -3.41%
1998 -7.99% -5.73%
1997 -4.84% -6.39%
1996 -5.97% -5.25%
1995 -4.28% 1.53%
1994 -5.62% 2.4%
1993 -5.62% 2.37%
1992 -8% 2.83%
1991 -7.04% 3.14%
1990 -9.67% 2.06%
1989 -9.03% -
1988 -7.57% -
1987 -7.47% -
1986 -7.51% -
1985 -14.2% -
1984 - -
1983 - -
1982 -13.8% -
1981 -23.5% -
1980 -19.6% -
1979 -16.7% -
1978 -14.7% -
1977 -20.3% -
1976 -19.4% -
1975 -19.6% -
1974 - -
1973 - -
1972 - -
1971 - -
1970 -16% -
1969 -15.3% -
1968 -11.7% -
1967 -7.68% -
1966 -4.35% -
1965 -2.72% -
1964 -3.65% -
1963 -4.41% -
1962 -4.09% -
1961 -5.86% -
1960 -6.62% -
1959 -7.23% -
1958 -8.31% -
1957 -7.17% -
1956 -9.3% -
1955 -4.3% -
1954 -7.84% -
1953 -8.32% -
1952 -7.19% -
1951 -8.13% -
1950 -10.7% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08).

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

In 2025, Israel's government deficit, the difference between spending and revenue, was $31.9B, equivalent to 5.22% of GDP. This compares to Jamaica's deficit of $856M, or 3.77% of GDP.

Over the past 36 years, Israel recorded a fiscal deficit in 35 of those years, while Jamaica ran a deficit in 22 years. On average, Israel posted an annual deficit equal to 4.52% of GDP, compared to deficit of 2.18% of GDP for Jamaica.

Inflation comparison by year

Inflation
Israel

Jamaica
1x
Year Consumer prices inflation
Israel Jamaica
2025 3.04% 4%
2024 3.07% 5.41%
2023 4.23% 6.47%
2022 4.41% 10.3%
2021 1.48% 5.86%
2020 -0.58% 5.23%
2019 0.82% 3.91%
2018 0.81% 3.74%
2017 0.25% 4.38%
2016 -0.54% 2.35%
2015 -0.62% 3.69%
2014 0.47% 8.27%
2013 1.59% 9.34%
2012 1.68% 6.87%
2011 3.49% 7.56%
2010 2.7% 12.6%
2009 3.37% 9.59%
2008 4.53% 22%
2007 0.47% 9.24%
2006 2.05% 8.56%
2005 1.34% 15.1%
2004 -0.42% 13.6%
2003 0.71% 10.1%
2002 5.8% 7.08%
2001 1.12% 6.8%
2000 1.03% 8.17%
1999 5.19% 5.95%
1998 5.49% 8.63%
1997 8.95% 9.66%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Israel has recorded an average annual inflation rate of 2.27%, compared with 8.08% in Jamaica. In 2025, inflation was 3.04% in Israel and 4% in Jamaica.

Top exports between countries

Israel
Export category Export value
Machinery & equipment $1.83M
Chemicals & pharma $1.8M
Metals $318K
Textiles & consumer goods $131K
Raw agricultural goods $53K
Wood & paper products $33K
Raw materials & minerals $11K
Processed food, beverages & tobacco $4K
Miscellaneous $1K
Precious metals & jewellery $1K
Jamaica
Export category Export value
Raw materials & minerals $1.29M
Machinery & equipment $14K
Miscellaneous $1K
Precious metals & jewellery $1K

Balance of trade

Israel Jamaica
Current account balance
$8.53B
2025
$679M
2024
Current account balance ranking
26/190
2025
53/190
2024
Current account balance, % of GDP
+1.4%
2025
+3.08%
2024
Goods imports
$102B
2025
$6.07B
2024
Goods exports
$76.2B
2025
$1.87B
2024
Service imports
$53.2B
2025
$3.46B
2024
Service exports
$92.4B
2025
$5.26B
2024
Imports of goods and services, % of GDP
25.4%
2025
52.1%
2019
Exports of goods and services, % of GDP
27.6%
2025
38%
2019

Economic freedom indices

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

Israel Jamaica
Economic freedom 68.4 68.2
Economic freedom ranking 47/197 48/197
Property rights 73.1 66.8
Government integrity 66.2 49.4
Judicial effectiveness 68.1 75.6
Tax burden 60.2 76.3
Government spending 52 76
Fiscal health 60.8 92.2
Business freedom 72.4 68.5
Labor freedom 56.8 59.2
Monetary freedom 78.2 74.2
Trade freedom 82.8 70.4
Investment freedom 70 60
Financial freedom 80 50

Economic freedom comparison by year

Israel
Jamaica
1x
Year Economic freedom index
Israel Jamaica
2026 68.4 68.2
2025 69.9 68.7
2024 70.1 68.1
2023 68.9 68.1
2022 68 67.4
2021 73.8 69
2020 74 68.5
2019 72.8 68.6
2018 72.2 69.1
2017 69.7 69.5
2016 70.7 67.5
2015 70.5 67.7
2014 68.4 66.7
2013 66.9 66.8
2012 67.8 65.1
2011 68.5 65.7
2010 67.7 65.5
2009 67.6 65.2
2008 66.3 65.7
2007 64.8 65.5
2006 64.4 66.4
2005 62.6 67
2004 61.4 66.7
2003 62.7 67
2002 66.9 61.7
2001 66.1 63.7
2000 65.5 65.5
1999 68.3 64.7
1998 68 67.1
1997 62.7 67.7
1996 62 66.7
1995 61.5 64.4

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Israel is 68.4, ranking 47/197, 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

Israel Jamaica
Services, % of GDP
72.8%
2024
59.8%
2025
Industry, % of GDP
17.2%
2024
16.3%
2025
Agriculture, forestry, and fishing, % of GDP
1.29%
2024
8.74%
2025
GNI, Atlas method
$569B
2025
$22.1B
2025
GNI per capita, PPP
$58,870
2025
$13,090
2025
Total reserves including gold
$229B
2025
$6.3B
2025
Total reserves ranking
18/177
2025
92/177
2025
Net foreign direct investment
-$11.8B
2025
-$304M
2024
Net inflows of foreign direct investment
$14.8B
2024
$305M
2024
Net outflows of foreign direct investment
$9.92B
2024
$1.07M
2024
Servicing debt to the IMF, % of GNI n/a
11.3%
2024
Poverty at national poverty lines
22%
2020
8.2%
2023
Gross capital formation, % of GDP
24.3%
2025
22.6%
2019

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-07-08)

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.