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Economy of Jamaica vs Kenya compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $120B for Kenya, ranking 124/197 and 64/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Jamaica vs Kenya GDP by year

Jamaica
Kenya
1x
Year GDP, current $
Jamaica Kenya
2024 $22,014,397,090 $120,339,557,906
2023 $21,418,804,320 $107,500,884,685
2022 $18,813,516,805 $114,448,978,153
2021 $15,963,885,376 $109,703,658,905
2020 $15,000,214,216 $100,657,505,751
2019 $17,026,269,263 $100,378,436,207
2018 $16,855,447,986 $92,202,979,985
2017 $15,783,583,237 $82,036,510,877
2016 $14,898,999,754 $74,815,144,164
2015 $14,963,589,916 $70,120,446,897
2014 $13,899,217,680 $68,285,796,514
2013 $14,264,205,153 $61,671,440,408
2012 $14,807,086,556 $56,396,704,672
2011 $14,444,661,522 $46,869,473,151
2010 $13,220,549,908 $45,405,615,064
2009 $12,120,458,115 $42,347,217,913
2008 $13,709,401,520 $35,895,153,328
2007 $12,799,600,047 $31,958,195,182
2006 $11,930,179,090 $25,825,512,284
2005 $11,243,865,778 $18,737,895,513
2004 $10,174,664,854 $16,095,337,094
2003 $9,430,234,811 $14,904,517,650
2002 $9,719,009,495 $13,147,736,899
2001 $9,194,727,831 $12,986,007,426
2000 $9,005,064,475 $12,705,350,098
1999 $8,887,057,997 $12,896,010,459
1998 $8,787,195,622 $14,093,998,844
1997 $8,400,041,724 $13,115,764,358
1996 $7,393,891,921 $12,045,865,396
1995 $6,577,520,643 $9,046,320,255
1994 $5,452,558,947 $7,148,148,564
1993 $5,440,075,676 $5,751,786,643
1992 $3,535,460,090 $8,209,120,763
1991 $4,106,207,649 $8,151,488,783
1990 $4,592,208,087 $8,572,359,038
1989 $4,404,937,853 $8,283,114,514
1988 $3,828,342,820 $8,355,380,879
1987 $3,287,007,322 $7,970,820,369
1986 $2,754,549,582 $7,239,126,568
1985 $2,100,239,019 $6,135,034,214
1984 $2,373,564,549 $6,191,437,070
1983 $3,619,262,277 $5,979,198,314
1982 $3,293,496,312 $6,431,579,357
1981 $2,979,027,966 $6,854,491,706
1980 $2,679,379,372 $7,265,315,820
1979 $2,425,064,229 $6,234,391,113
1978 $2,644,527,822 $5,303,735,111
1977 $3,249,733,140 $4,494,378,764
1976 $2,966,042,856 $3,474,542,392
1975 $2,860,442,750 $3,259,345,083
1974 $2,375,122,375 $2,969,958,812
1973 $1,905,917,553 $2,509,001,324
1972 $1,875,146,587 $2,107,279,157
1971 $1,539,861,816 $1,778,391,289
1970 $1,404,720,442 $1,603,447,359
1969 $1,191,239,047 $1,458,379,417
1968 $1,083,839,133 $1,353,295,459
1967 $1,148,014,311 $1,232,559,507
1966 $1,096,759,561 $1,164,519,674
1965 $972,159,611 $997,919,321
1964 $897,949,001 $998,759,334
1963 $826,706,669 $926,589,349
1962 $777,727,689 $868,111,401
1961 $748,043,501 $792,959,473
1960 $699,064,380 $791,265,459

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

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

GDP per capita in Jamaica vs Kenya by year

Jamaica
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 $2,132 $6,644
2023 $7,542 $12,651 $1,943 $6,317
2022 $6,626 $11,888 $2,110 $5,883
2021 $5,626 $10,431 $2,061 $5,339
2020 $5,299 $9,764 $1,928 $4,793
2019 $6,031 $10,845 $1,960 $4,687
2018 $5,977 $10,753 $1,836 $4,412
2017 $5,605 $10,466 $1,667 $4,177
2016 $5,302 $9,948 $1,554 $3,917
2015 $5,339 $9,476 $1,489 $3,678
2014 $4,975 $9,210 $1,483 $3,359
2013 $5,124 $9,101 $1,371 $3,106
2012 $5,341 $8,831 $1,285 $2,847
2011 $5,233 $8,809 $1,096 $2,750
2010 $4,810 $8,521 $1,092 $2,635
2009 $4,428 $8,580 $1,048 $2,480
2008 $5,030 $8,952 $916 $2,459
2007 $4,716 $8,893 $840 $2,481
2006 $4,417 $8,577 $700 $2,330
2005 $4,184 $8,127 $523 $2,189
2004 $3,808 $7,854 $464 $2,066
2003 $3,550 $7,593 $443 $1,975
2002 $3,681 $7,226 $403 $1,940
2001 $3,504 $7,019 $411 $1,961
2000 $3,453 $6,816 $415 $1,907
1999 $3,432 $6,653 $434 $1,910
1998 $3,419 $6,543 $488 $1,895
1997 $3,297 $6,682 $467 $1,865
1996 $2,929 $6,706 $441 $1,875
1995 $2,631 $6,657 $340 $1,818
1994 $2,203 $6,435 $276.4 $1,754
1993 $2,221 $6,279 $229 $1,723
1992 $1,458 $5,664 $337 $1,728
1991 $1,710 $5,485 $345 $1,756
1990 $1,930 $5,106 $374 $1,729
1989 $1,865 - $374 -
1988 $1,632 - $391 -
1987 $1,411 - $387 -
1986 $1,191 - $364 -
1985 $917 - $320 -
1984 $1,048 - $334 -
1983 $1,619 - $335 -
1982 $1,494 - $374 -
1981 $1,370 - $413 -
1980 $1,249 - $454 -
1979 $1,144 - $403 -
1978 $1,262 - $355 -
1977 $1,569 - $311 -
1976 $1,450 - $248.9 -
1975 $1,417 - $241.2 -
1974 $1,193 - $227.2 -
1973 $972 - $198.6 -
1972 $971 - $172.6 -
1971 $809 - $150.9 -
1970 $748 - $141 -
1969 $642 - $133.3 -
1968 $591 - $128.7 -
1967 $633 - $121.9 -
1966 $612 - $119.8 -
1965 $549 - $106.9 -
1964 $514 - $111.3 -
1963 $480 - $107.4 -
1962 $458 - $104.6 -
1961 $447 - $99.3 -
1960 $424 - $102.8 -

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

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

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Kenya ranks 149th at $6,644.

Economic indicators

Jamaica Kenya
Gross domestic product
$22B
2024
$120B
2024
GDP rank
124/197
2024
64/197
2024
GDP growth
-0.54%
2023-2024
4.72%
2023-2024
GDP per capita
$7,754
2024
$2,132
2024
GDP per capita rank
95/197
2024
154/197
2024
GDP per capita, PPP
$12,890
2024
$6,644
2024
GDP per capita PPP rank
121/197
2024
149/197
2024
Government debt
$14B
2024
$81B
2024
Debt-to-GDP ratio
63.4%
2024
67.3%
2024
Government debt per person
$4,917
2024
$1,436
2024
Government debt per person rank
79/185
2024
133/185
2024
Average annual personal income after taxes
$6,905
2026
$3,229
2026
Market capitalization of domestic companies
$12.4B
2024
$15B
2024
Income share by richest 10%
29.6%
2021
30.1%
2022
Income share by poorest 10%
2.2%
2021
2.9%
2022
Government expenditure, % of GDP
30.5%
2024
23.3%
2024
Consumer prices inflation
5.41%
2023-2024
4.49%
2023-2024
Central bank interest rate
5.75%
2025
9.25%
2025
Unemployment rate
3.02%
2023
5.44%
2022
Population
2834980
58955623

Spending and national debt comparison by year

Jamaica
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Jamaica Kenya
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 23.3% 67.3%
2023 28% 67.3% 22.7% 73.4%
2022 28.4% 73.5% 23.2% 67.8%
2021 29% 90.9% 24% 68.2%
2020 29.8% 100.1% 24.8% 68%
2019 27.8% 88.6% 24.4% 59.1%
2018 27.8% 89.2% 24.5% 56.4%
2017 27.3% 96.7% 25.2% 53.9%
2016 27% 109.1% 25.4% 50.4%
2015 26.3% 117.6% 23.8% 45.8%
2014 26.5% 136.7% 23.4% 41.3%
2013 26.9% 138.1% 23.2% 39.8%
2012 29.6% 143% 22.1% 37.6%
2011 31.7% 138.1% 20.1% 35.7%
2010 32.9% 140.1% 21.5% 36.7%
2009 38.6% 141.5% 20.3% 36%
2008 34.4% 125.6% 18.9% 34.3%
2007 31.6% 115.3% 18.1% 34.2%
2006 31.2% 118% 17.3% 37.1%
2005 29.3% 124.5% 16.2% 37.4%
2004 31.5% 120.1% 15.4% 40.8%
2003 32.5% 125.5% 16% 43.8%
2002 31.1% 119.1% 15.7% 42%
2001 28.5% 107.9% 14.9% 41.3%
2000 26.2% 91.3% 14.1% 43.1%
1999 28.9% 83.5% 13.7% 38.4%
1998 28.3% 75.6% 15.3% 38.5%
1997 28.3% 74.4% 15.6% 36%
1996 27.7% 70.2% 15.2% 40.5%
1995 23.1% 85.2% 17.3% 52.1%
1994 21.5% 90.4% 18.8% 57%
1993 21.5% 106.2% 18.9% 61.6%
1992 20% 100.4% 17.6% 41.2%
1991 24.5% 175.1% 16.4% 43%
1990 25.7% 128.8% 17.2% 37.6%
1989 - - 16.3% 33.4%
1988 - - 15.9% 33.9%
1987 - - 15.5% 36.3%
1986 - - 15.3% 31.3%
1985 - - 15.6% 28.8%
1984 - - 14.9% 25.6%
1983 - - 14.6% 26.1%
1982 - - 16.2% 26.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1998, retrieved 2026-02-20).

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

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 67.3% in Kenya, ranking 73/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Kenya
1x
Year Deficit/surplus, % of GDP
Jamaica Kenya
2024 0.22% -5.77%
2023 0.04% -5.71%
2022 0.27% -6.06%
2021 0.89% -7.2%
2020 -2.83% -8.13%
2019 0.85% -7.42%
2018 1.12% -6.94%
2017 0.43% -7.4%
2016 -0.19% -7.47%
2015 -0.28% -6.68%
2014 -0.49% -5.75%
2013 0.12% -5.25%
2012 -4.05% -5.29%
2011 -6.34% -3.64%
2010 -6.27% -3.67%
2009 -11.1% -3.12%
2008 -7.43% -1.95%
2007 -3.82% -0.95%
2006 -4.9% -0.43%
2005 -3.3% -0.19%
2004 -4.68% 0.5%
2003 -5.67% -0.73%
2002 -6.77% -1.29%
2001 -4.89% -0.53%
2000 -0.8% 0.38%
1999 -3.53% 0.84%
1998 -5.82% -0.03%
1997 -6.54% -0.91%
1996 -5.32% -0.49%
1995 1.6% -0.23%
1994 2.59% -4.14%
1993 2.6% -8.57%
1992 3.11% -8.28%
1991 3.87% -6.56%
1990 2.34% -3.28%
1989 - -2.39%
1988 - -1.97%
1987 - -2.27%
1986 - -2.98%
1985 - -3.05%
1984 - -2.55%
1983 - -2.17%
1982 - -3.07%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

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

In 2024, Jamaica's government surplus, the difference between spending and revenue, was $49.1M, equivalent to 0.22% of GDP. This compares to Kenya's deficit of $6.94B, or 5.77% of GDP.

Over the past 35 years, Jamaica recorded a fiscal deficit in 21 of those years, while Kenya ran a deficit in 32 years. On average, Jamaica posted an annual deficit equal to 2.14% of GDP, compared to deficit of 3.78% of GDP for Kenya.

Inflation comparison by year

Inflation
Jamaica

Kenya
1x
Year Consumer prices inflation
Jamaica Kenya
2024 5.41% 4.49%
2023 6.47% 7.67%
2022 10.3% 7.66%
2021 5.86% 6.11%
2020 5.23% 5.41%
2019 3.91% 5.24%
2018 3.74% 4.69%
2017 4.38% 8.01%
2016 2.35% 6.3%
2015 3.69% 6.58%
2014 8.27% 6.88%
2013 9.34% 5.72%
2012 6.87% 9.38%
2011 7.56% 14%
2010 12.6% 3.96%
2009 9.59% 9.23%
2008 22% 26.2%
2007 9.24% 9.76%
2006 8.56% 14.5%
2005 15.1% 10.3%
2004 13.6% 11.6%
2003 10.1% 9.82%
2002 7.08% 1.96%
2001 6.8% 5.74%
2000 8.17% 9.98%
1999 5.95% 5.74%
1998 8.63% 6.72%
1997 9.66% 11.4%

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

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

Over the past 28 years, Jamaica has recorded an average annual inflation rate of 8.23%, compared with 8.39% in Kenya. In 2024, inflation was 5.41% in Jamaica and 4.49% in Kenya.

Top exports between countries

Jamaica
Export category Export value
Machinery & equipment $4K
Kenya
Export category Export value
Processed food, beverages & tobacco $8K
Chemicals & pharma $6K
Textiles & consumer goods $4K
Machinery & equipment $3K
Animal & marine products $2K
Precious metals & jewellery $2K

Balance of trade

Jamaica Kenya
Current account balance
$679M
2024
-$1.55B
2024
Current account balance ranking
56/190
2024
134/190
2024
Current account balance, % of GDP
+3.08%
2024
-1.29%
2024
Goods imports
$6.07B
2024
$22.2B
2024
Goods exports
$1.87B
2024
$12.5B
2024
Service imports
$3.46B
2024
$5.64B
2024
Service exports
$5.26B
2024
$8.04B
2024
Imports of goods and services, % of GDP
52.1%
2019
23.1%
2024
Exports of goods and services, % of GDP
38%
2019
17.1%
2024

Economic freedom indices

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

Jamaica Kenya
Economic freedom 68.2 55.5
Economic freedom ranking 48/197 128/197
Property rights 66.8 40.2
Government integrity 49.4 32.7
Judicial effectiveness 75.6 47
Tax burden 76.3 76.3
Government spending 76 84.1
Fiscal health 92.2 36.2
Business freedom 68.5 61.5
Labor freedom 59.2 56.5
Monetary freedom 74.2 75.1
Trade freedom 70.4 52
Investment freedom 60 55
Financial freedom 50 50

Economic freedom comparison by year

Jamaica
Kenya
1x
Year Economic freedom index
Jamaica Kenya
2026 68.2 55.5
2025 68.7 54.8
2024 68.1 53.6
2023 68.1 52.5
2022 67.4 52.6
2021 69 54.9
2020 68.5 55.3
2019 68.6 55.1
2018 69.1 54.7
2017 69.5 53.5
2016 67.5 57.5
2015 67.7 55.6
2014 66.7 57.1
2013 66.8 55.9
2012 65.1 57.5
2011 65.7 57.4
2010 65.5 57.5
2009 65.2 58.7
2008 65.7 59.3
2007 65.5 59.6
2006 66.4 59.7
2005 67 57.9
2004 66.7 57.7
2003 67 58.6
2002 61.7 58.2
2001 63.7 57.6
2000 65.5 59.7
1999 64.7 58.2
1998 67.1 58.4
1997 67.7 60.1
1996 66.7 56.4
1995 64.4 54.5

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Kenya
Services, % of GDP
60%
2024
55.3%
2024
Industry, % of GDP
16.5%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
22.5%
2024
GNI, Atlas method
$20.5B
2024
$118B
2024
GNI per capita, PPP
$12,690
2024
$6,540
2024
Total reserves including gold
$5.63B
2024
$10.1B
2024
Total reserves ranking
93/177
2024
75/177
2024
Net foreign direct investment
-$304M
2024
-$45.8M
2024
Net inflows of foreign direct investment
$305M
2024
$463M
2024
Net outflows of foreign direct investment
$1.07M
2024
$418M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
4.79%
2024
Poverty at national poverty lines
8.2%
2023
39.8%
2022
Gross capital formation, % of GDP
22.6%
2019
16.8%
2024

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/jamaica/kenya | 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 (1982–1998, retrieved 2026-02-20)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2021–2024, 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.