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Economy of Jamaica vs Laos compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $18.3B for Laos, ranking 125/197 and 138/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $14.8B (80.6% of GDP) in Laos.

Jamaica vs Laos GDP by year

Jamaica
Laos
1x
Year GDP, current $
Jamaica Laos
2025 $22,704,903,218 $18,302,970,219
2024 $22,014,429,051 $16,502,933,121
2023 $21,418,797,833 $15,843,155,731
2022 $18,813,516,805 $15,468,785,204
2021 $15,963,885,376 $18,827,148,531
2020 $15,000,214,216 $18,981,805,250
2019 $17,026,269,263 $18,740,561,513
2018 $16,855,447,986 $18,141,641,090
2017 $15,783,583,237 $17,071,155,481
2016 $14,898,999,754 $15,912,501,723
2015 $14,963,589,916 $14,426,380,126
2014 $13,899,217,680 $13,279,245,886
2013 $14,264,205,153 $11,983,252,627
2012 $14,807,086,556 $10,192,846,339
2011 $14,444,661,522 $8,750,104,617
2010 $13,220,549,908 $7,131,771,015
2009 $12,120,458,115 $5,836,137,330
2008 $13,709,401,520 $5,446,433,157
2007 $12,799,600,047 $4,223,152,739
2006 $11,930,179,090 $3,455,030,061
2005 $11,243,865,778 $2,735,558,735
2004 $10,174,664,854 $2,366,398,120
2003 $9,430,234,811 $2,023,324,407
2002 $9,719,009,495 $1,758,176,653
2001 $9,194,727,831 $1,768,619,058
2000 $9,005,064,475 $1,731,198,022
1999 $8,887,057,997 $1,454,430,642
1998 $8,787,195,622 $1,280,177,839
1997 $8,400,041,724 $1,747,011,857
1996 $7,393,891,921 $1,873,671,550
1995 $6,577,520,643 $1,763,536,305
1994 $5,452,558,947 $1,543,606,345
1993 $5,440,075,676 $1,327,748,690
1992 $3,535,460,090 $1,127,806,945
1991 $4,106,207,649 $1,028,087,972
1990 $4,592,208,087 $865,559,879
1989 $4,404,937,853 $714,046,821
1988 $3,828,342,820 $598,961,269
1987 $3,287,007,322 $1,087,273,104
1986 $2,754,549,582 $1,776,842,097
1985 $2,100,239,019 $2,366,666,616
1984 $2,373,564,549 $1,757,142,856
1983 $3,619,262,277 -
1982 $3,293,496,312 -
1981 $2,979,027,966 -
1980 $2,679,379,372 -
1979 $2,425,064,229 -
1978 $2,644,527,822 -
1977 $3,249,733,140 -
1976 $2,966,042,856 -
1975 $2,860,442,750 -
1974 $2,375,122,375 -
1973 $1,905,917,553 -
1972 $1,875,146,587 -
1971 $1,539,861,816 -
1970 $1,404,720,442 -
1969 $1,191,239,047 -
1968 $1,083,839,133 -
1967 $1,148,014,311 -
1966 $1,096,759,561 -
1965 $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Jamaica vs Laos by year

Jamaica
GDP per capita

GDP per capita, PPP
Laos
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Laos
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $2,325 -
2024 $7,754 $12,890 $2,124 $9,776
2023 $7,542 $12,651 $2,067 $9,292
2022 $6,626 $11,888 $2,046 $8,766
2021 $5,626 $10,431 $2,526 $8,080
2020 $5,299 $9,764 $2,584 $7,913
2019 $6,031 $10,845 $2,589 $7,743
2018 $5,977 $10,753 $2,545 $7,487
2017 $5,605 $10,466 $2,432 $7,142
2016 $5,302 $9,948 $2,303 $6,743
2015 $5,339 $9,476 $2,121 $6,086
2014 $4,975 $9,210 $1,981 $5,799
2013 $5,124 $9,101 $1,813 $5,222
2012 $5,341 $8,831 $1,564 $4,781
2011 $5,233 $8,809 $1,362 $4,100
2010 $4,810 $8,521 $1,126 $3,772
2009 $4,428 $8,580 $935 $3,485
2008 $5,030 $8,952 $886 $3,271
2007 $4,716 $8,893 $697 $3,021
2006 $4,417 $8,577 $579 $2,777
2005 $4,184 $8,127 $466 $2,519
2004 $3,808 $7,854 $409 $2,315
2003 $3,550 $7,593 $355 $2,151
2002 $3,681 $7,226 $313 $2,020
2001 $3,504 $7,019 $320 $1,908
2000 $3,453 $6,816 $319 $1,794
1999 $3,432 $6,653 $272.3 $1,686
1998 $3,419 $6,543 $243.9 $1,577
1997 $3,297 $6,682 $339 $1,528
1996 $2,929 $6,706 $371 $1,435
1995 $2,631 $6,657 $358 $1,349
1994 $2,203 $6,435 $321 $1,265
1993 $2,221 $6,279 $283.4 $1,176
1992 $1,458 $5,664 $247.3 $1,114
1991 $1,710 $5,485 $231.8 $1,061
1990 $1,930 $5,106 $200.7 $1,012
1989 $1,865 - $170.4 -
1988 $1,632 - $147.1 -
1987 $1,411 - $274.7 -
1986 $1,191 - $462 -
1985 $917 - $633 -
1984 $1,048 - $483 -
1983 $1,619 - - -
1982 $1,494 - - -
1981 $1,370 - - -
1980 $1,249 - - -
1979 $1,144 - - -
1978 $1,262 - - -
1977 $1,569 - - -
1976 $1,450 - - -
1975 $1,417 - - -
1974 $1,193 - - -
1973 $972 - - -
1972 $971 - - -
1971 $809 - - -
1970 $748 - - -
1969 $642 - - -
1968 $591 - - -
1967 $633 - - -
1966 $612 - - -
1965 $549 - - -
1964 $514 - - -
1963 $480 - - -
1962 $458 - - -
1961 $447 - - -
1960 $424 - - -

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

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

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $2,325 in Laos, ranking 155/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Laos ranks 134th at $9,776.

Economic indicators

Jamaica Laos
Gross domestic product
$22.7B
2025
$18.3B
2025
GDP rank
125/197
2025
138/197
2025
GDP growth
0.08%
2024-2025
4.54%
2024-2025
GDP per capita
$8,003
2025
$2,325
2025
GDP per capita rank
98/197
2025
155/197
2025
GDP per capita, PPP
$12,890
2024
$9,776
2024
GDP per capita PPP rank
121/197
2024
134/197
2024
Government debt
$15.4B
2025
$14.8B
2025
Debt-to-GDP ratio
67.7%
2025
80.6%
2025
Government debt per person
$5,419
2025
$1,874
2025
Government debt per person rank
80/185
2025
120/185
2025
Average annual personal income after taxes
$8,390
2026
$2,426
2026
Market capitalization of domestic companies
$11.6B
2025
n/a
Income share by richest 10%
29.6%
2021
28.5%
2024
Income share by poorest 10%
2.2%
2021
3.3%
2024
Government expenditure, % of GDP
33.8%
2025
17.9%
2025
Consumer prices inflation
4%
2024-2025
7.7%
2024-2025
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
1.21%
2022
Population
2834177
8027464

Spending and national debt comparison by year

Jamaica
Spending

Debt
Laos
Spending

Debt
1x
Year % of GDP
Jamaica Laos
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 17.9% 80.6%
2024 30.1% 62.5% 15.8% 94.7%
2023 27.7% 66.5% 16.5% 108.9%
2022 27.1% 70.2% 14.7% 115.7%
2021 27.6% 86.3% 15.7% 92.2%
2020 30.1% 101.3% 18.4% 75.4%
2019 27.5% 87.7% 18.6% 69.1%
2018 27.5% 88.3% 20.7% 60.6%
2017 26.9% 95.1% 21.8% 57.2%
2016 26.5% 106.9% 21.1% 54.5%
2015 25.9% 115.9% 25.8% 53.1%
2014 26.1% 134.4% 25% 53.5%
2013 26.3% 135.2% 24.2% 49.5%
2012 29.1% 140.3% 24.7% 46.1%
2011 31.2% 135.9% 20.2% 43%
2010 32.3% 137.8% 22.4% 49.3%
2009 37.7% 138.3% 20.1% 51.8%
2008 33.9% 123.8% 16.1% 51.7%
2007 30.6% 111.6% 15.1% 55.9%
2006 30.1% 114.2% 14.7% 60%
2005 28.6% 121.5% 15.3% 73.2%
2004 30.7% 116.9% 13.6% 80.7%
2003 31.1% 120.1% 16% 90.1%
2002 30.1% 115.4% 16.6% 95.3%
2001 27.8% 105.3% 18.8% 94.7%
2000 25.7% 89.5% 19.9% -
1999 27.9% 80.7% - -
1998 27.9% 75.6% - -
1997 27.6% 74.4% - -
1996 27.4% 70.2% - -
1995 22.1% 85.2% - -
1994 19.9% 90.4% - -
1993 19.6% 106.2% - -
1992 18.2% 100.4% - -
1991 19.9% 175.1% - -
1990 22.6% 128.8% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-07-08).

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

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Laos spent $3.28B, or 17.9% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 80.6% in Laos, ranking 62/185 and 41/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Laos
1x
Year Deficit/surplus, % of GDP
Jamaica Laos
2025 -3.77% 1.64%
2024 0.22% 2.36%
2023 0.04% -0.01%
2022 0.26% 0.06%
2021 0.84% -0.67%
2020 -2.87% -5.37%
2019 0.85% -3.2%
2018 1.1% -4.46%
2017 0.42% -5.51%
2016 -0.18% -5.06%
2015 -0.28% -5.57%
2014 -0.48% -3.13%
2013 0.12% -4.03%
2012 -3.97% -2.34%
2011 -6.24% -1.43%
2010 -6.17% -1.47%
2009 -10.8% -3.1%
2008 -7.32% -1.86%
2007 -3.7% -1.12%
2006 -4.74% -1.48%
2005 -3.22% -2.54%
2004 -4.56% -1.81%
2003 -5.42% -3.89%
2002 -6.55% -2.85%
2001 -4.77% -3.68%
2000 -0.78% -3.58%
1999 -3.41% -
1998 -5.73% -
1997 -6.39% -
1996 -5.25% -
1995 1.53% -
1994 2.4% -
1993 2.37% -
1992 2.83% -
1991 3.14% -
1990 2.06% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

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

In 2025, Jamaica's government deficit, the difference between spending and revenue, was $856M, equivalent to 3.77% of GDP. This compares to Laos' surplus of $300M, or 1.64% of GDP.

Over the past 26 years, Jamaica recorded a fiscal deficit in 18 of those years, while Laos ran a deficit in 23 years. On average, Jamaica posted an annual deficit equal to 2.77% of GDP, compared to deficit of 2.47% of GDP for Laos.

Inflation comparison by year

Inflation
Jamaica

Laos
1x
Year Consumer prices inflation
Jamaica Laos
2025 4% 7.7%
2024 5.41% 23.1%
2023 6.47% 31.2%
2022 10.3% 23%
2021 5.86% 3.8%
2020 5.23% 5.1%
2019 3.91% 3.3%
2018 3.74% 2%
2017 4.38% 0.8%
2016 2.35% 1.6%
2015 3.69% 1.3%
2014 8.27% 4.1%
2013 9.34% 6.4%
2012 6.87% 4.3%
2011 7.56% 7.6%
2010 12.6% 6%
2009 9.59% 0.1%
2008 22% 7.6%
2007 9.24% 4.7%
2006 8.56% 6.5%
2005 15.1% 7.2%
2004 13.6% 10.5%
2003 10.1% 15.5%
2002 7.08% 10.6%
2001 6.8% 7.8%
2000 8.17% 8.4%
1999 5.95% 128.4%
1998 8.63% 90.1%
1997 9.66% 19.5%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 15.5% in Laos. In 2025, inflation was 4% in Jamaica and 7.7% in Laos.

Balance of trade

Jamaica Laos
Current account balance
$679M
2024
$531M
2024
Current account balance ranking
53/190
2024
58/190
2024
Current account balance, % of GDP
+3.08%
2024
+3.22%
2024
Goods imports
$6.07B
2024
$8.66B
2024
Goods exports
$1.87B
2024
$9.39B
2024
Service imports
$3.46B
2024
$1.27B
2024
Service exports
$5.26B
2024
$1.73B
2024
Imports of goods and services, % of GDP
52.1%
2019
41.9%
2016
Exports of goods and services, % of GDP
38%
2019
33.2%
2016

Economic freedom indices

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

Jamaica Laos
Economic freedom 68.2 50.9
Economic freedom ranking 48/197 157/197
Property rights 66.8 41.1
Government integrity 49.4 25.9
Judicial effectiveness 75.6 10.2
Tax burden 76.3 88.5
Government spending 76 92.7
Fiscal health 92.2 80
Business freedom 68.5 54.2
Labor freedom 59.2 40.7
Monetary freedom 74.2 53.3
Trade freedom 70.4 69
Investment freedom 60 35
Financial freedom 50 20

Economic freedom comparison by year

Jamaica
Laos
1x
Year Economic freedom index
Jamaica Laos
2026 68.2 50.9
2025 68.7 51.1
2024 68.1 50.6
2023 68.1 50.3
2022 67.4 49.2
2021 69 53.9
2020 68.5 55.5
2019 68.6 57.4
2018 69.1 53.6
2017 69.5 54
2016 67.5 49.8
2015 67.7 51.4
2014 66.7 51.2
2013 66.8 50.1
2012 65.1 50
2011 65.7 51.3
2010 65.5 51.1
2009 65.2 50.4
2008 65.7 50.3
2007 65.5 50.3
2006 66.4 47.5
2005 67 44.4
2004 66.7 42
2003 67 41
2002 61.7 36.8
2001 63.7 33.5
2000 65.5 36.8
1999 64.7 35.2
1998 67.1 35.2
1997 67.7 35.1
1996 66.7 38.5
1995 64.4 -

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 50.9 for Laos, ranking 157/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Laos
Services, % of GDP
59.8%
2025
43.6%
2025
Industry, % of GDP
16.3%
2025
29.2%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
16.6%
2025
GNI, Atlas method
$22.1B
2025
$16.9B
2025
GNI per capita, PPP
$13,090
2025
$9,800
2025
Total reserves including gold
$6.3B
2025
$2.21B
2024
Total reserves ranking
92/177
2025
125/177
2024
Net foreign direct investment
-$304M
2024
-$988M
2024
Net inflows of foreign direct investment
$305M
2024
$988M
2024
Net outflows of foreign direct investment
$1.07M
2024
$0
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
13.8%
2024
Poverty at national poverty lines
8.2%
2023
15%
2024
Gross capital formation, % of GDP
22.6%
2019
29%
2016

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/jamaica/laos | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, 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.