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Economy of Jamaica vs Lebanon compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $20.1B for Lebanon, ranking 124/197 and 128/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $38.7B (163.8% of GDP) in Lebanon.

Jamaica vs Lebanon GDP by year

Jamaica
Lebanon
1x
Year GDP, current $
Jamaica Lebanon
2024 $22,014,397,090 -
2023 $21,418,804,320 $20,078,620,357
2022 $18,813,516,805 $20,992,421,949
2021 $15,963,885,376 $23,131,941,557
2020 $15,000,214,216 $31,712,128,254
2019 $17,026,269,263 $51,605,959,131
2018 $16,855,447,986 $54,901,519,156
2017 $15,783,583,237 $53,027,680,686
2016 $14,898,999,754 $51,147,308,774
2015 $14,963,589,916 $49,929,337,837
2014 $13,899,217,680 $48,095,213,747
2013 $14,264,205,153 $46,880,103,081
2012 $14,807,086,556 $44,016,799,516
2011 $14,444,661,522 $39,927,125,962
2010 $13,220,549,908 $38,443,907,042
2009 $12,120,458,115 $35,399,582,929
2008 $13,709,401,520 $29,118,916,105
2007 $12,799,600,047 $24,827,355,015
2006 $11,930,179,090 $22,022,709,851
2005 $11,243,865,778 $21,497,336,499
2004 $10,174,664,854 $21,159,827,992
2003 $9,430,234,811 $20,082,918,740
2002 $9,719,009,495 $19,152,238,806
2001 $9,194,727,831 $17,649,751,244
2000 $9,005,064,475 $17,260,364,842
1999 $8,887,057,997 $17,391,056,369
1998 $8,787,195,622 $17,247,179,006
1997 $8,400,041,724 $15,751,867,489
1996 $7,393,891,921 $13,690,217,334
1995 $6,577,520,643 $11,718,795,529
1994 $5,452,558,947 $9,599,127,050
1993 $5,440,075,676 $7,941,744,492
1992 $3,535,460,090 $5,843,579,161
1991 $4,106,207,649 $4,690,415,093
1990 $4,592,208,087 $2,838,485,354
1989 $4,404,937,853 $2,717,998,688
1988 $3,828,342,820 $3,313,540,068
1987 $3,287,007,322 -
1986 $2,754,549,582 -
1985 $2,100,239,019 -
1984 $2,373,564,549 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Jamaica vs Lebanon by year

Jamaica
GDP per capita

GDP per capita, PPP
Lebanon
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Lebanon
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 - -
2023 $7,542 $12,651 $3,478 $12,575
2022 $6,626 $11,888 $3,654 $12,293
2021 $5,626 $10,431 $4,045 $11,600
2020 $5,299 $9,764 $5,561 $16,260
2019 $6,031 $10,845 $8,906 $21,710
2018 $5,977 $10,753 $9,175 $21,985
2017 $5,605 $10,466 $8,608 $20,964
2016 $5,302 $9,948 $8,089 $18,941
2015 $5,339 $9,476 $7,714 $17,046
2014 $4,975 $9,210 $7,578 $16,140
2013 $5,124 $9,101 $8,162 $16,316
2012 $5,341 $8,831 $8,407 $16,121
2011 $5,233 $8,809 $7,835 $14,975
2010 $4,810 $8,521 $7,626 $14,704
2009 $4,428 $8,580 $7,091 $13,586
2008 $5,030 $8,952 $5,912 $12,416
2007 $4,716 $8,893 $5,125 $11,356
2006 $4,417 $8,577 $4,635 $10,312
2005 $4,184 $8,127 $4,602 $10,020
2004 $3,808 $7,854 $4,601 $9,609
2003 $3,550 $7,593 $4,438 $8,914
2002 $3,681 $7,226 $4,291 $8,586
2001 $3,504 $7,019 $4,010 $8,289
2000 $3,453 $6,816 $3,987 $7,938
1999 $3,432 $6,653 $4,087 $7,793
1998 $3,419 $6,543 $4,125 $7,861
1997 $3,297 $6,682 $3,834 $7,632
1996 $2,929 $6,706 $3,393 $7,560
1995 $2,631 $6,657 $2,959 $6,796
1994 $2,203 $6,435 $2,468 $6,367
1993 $2,221 $6,279 $2,079 $5,871
1992 $1,458 $5,664 $1,559 $5,279
1991 $1,710 $5,485 $1,278 $4,527
1990 $1,930 $5,106 $790 $2,990
1989 $1,865 - $771 -
1988 $1,632 - $959 -
1987 $1,411 - - -
1986 $1,191 - - -
1985 $917 - - -
1984 $1,048 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $3,478 in Lebanon, ranking 135/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Lebanon ranks 123rd at $12,575.

Economic indicators

Jamaica Lebanon
Gross domestic product
$22B
2024
$20.1B
2023
GDP rank
124/197
2024
128/197
2023
GDP growth
-0.54%
2023-2024
-0.76%
2022-2023
GDP per capita
$7,754
2024
$3,478
2023
GDP per capita rank
95/197
2024
135/197
2023
GDP per capita, PPP
$12,890
2024
$12,575
2023
GDP per capita PPP rank
121/197
2024
123/197
2023
Government debt
$14B
2024
$38.7B
2023
Debt-to-GDP ratio
63.4%
2024
163.8%
2024
Government debt per person
$4,917
2024
$6,704
2023
Government debt per person rank
79/185
2024
70/185
2023
Average annual personal income after taxes
$6,905
2026
$3,560
2026
Market capitalization of domestic companies
$12.4B
2024
$10.6B
2021
Number of billionaires n/a
6
2025
Income share by richest 10%
29.6%
2021
25.1%
2022
Income share by poorest 10%
2.2%
2021
2.8%
2022
Government expenditure, % of GDP
30.5%
2024
16.5%
2024
Consumer prices inflation
5.41%
2023-2024
45.2%
2023-2024
Central bank interest rate
5.75%
2025
20%
2023
Unemployment rate
3.02%
2023
11.3%
2019
Population
2834980
5906622

Spending and national debt comparison by year

Jamaica
Spending

Debt
Lebanon
Spending

Debt
1x
Year % of GDP
Jamaica Lebanon
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 16.5% 163.8%
2023 28% 67.3% 14.9% 192.8%
2022 28.4% 73.5% 13.4% 244.6%
2021 29% 90.9% 10.9% 358%
2020 29.8% 100.1% 23.2% 148.7%
2019 27.8% 88.6% 31.3% 172.1%
2018 27.8% 89.2% 32.3% 155.1%
2017 27.3% 96.7% 30.6% 150%
2016 27% 109.1% 28.3% 146.4%
2015 26.3% 117.6% 26.7% 140.8%
2014 26.5% 136.7% 28.8% 138.4%
2013 26.9% 138.1% 28.9% 135.4%
2012 29.6% 143% 30.2% 131.1%
2011 31.7% 138.1% 28.8% 134.4%
2010 32.9% 140.1% 29.2% 136.8%
2009 38.6% 141.5% 32.1% 144.5%
2008 34.4% 125.6% 34.3% 161.5%
2007 31.6% 115.3% 35.2% 169.3%
2006 31.2% 118% 36.1% 183.3%
2005 29.3% 124.5% 31.4% 178.9%
2004 31.5% 120.1% 33.3% 169.5%
2003 32.5% 125.5% 36.4% 171.3%
2002 31.1% 119.1% 36.8% 163.1%
2001 28.5% 107.9% 38.9% 163.1%
2000 26.2% 91.3% 42.8% 148.1%
1999 28.9% 83.5% 35.6% 130.2%
1998 28.3% 75.6% 34.7% 108.2%
1997 28.3% 74.4% 40.5% 100.2%
1996 27.7% 70.2% 43.6% 101.2%
1995 23.1% 85.2% 31.1% 79.6%
1994 21.5% 90.4% 47.3% 71.5%
1993 21.5% 106.2% 23% 50.5%
1992 20% 100.4% 36.1% 51.7%
1991 24.5% 175.1% 35.6% 67.1%
1990 25.7% 128.8% 40% 99.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1999, retrieved 2026-02-20).

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

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Lebanon spent $2.99B, or 16.5% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 163.8% in Lebanon, ranking 73/185 and 6/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Lebanon
1x
Year Deficit/surplus, % of GDP
Jamaica Lebanon
2024 0.22% -0.19%
2023 0.04% -1.7%
2022 0.27% -7.77%
2021 0.89% -2.67%
2020 -2.83% -7.37%
2019 0.85% -10.5%
2018 1.12% -11.3%
2017 0.43% -8.65%
2016 -0.19% -8.88%
2015 -0.28% -7.48%
2014 -0.49% -6.22%
2013 0.12% -8.82%
2012 -4.05% -8.43%
2011 -6.34% -5.94%
2010 -6.27% -7.47%
2009 -11.1% -8.1%
2008 -7.43% -9.86%
2007 -3.82% -10.9%
2006 -4.9% -10.6%
2005 -3.3% -8.57%
2004 -4.68% -9.83%
2003 -5.67% -14%
2002 -6.77% -16.2%
2001 -4.89% -21%
2000 -0.8% -23.9%
1999 -3.53% -16.7%
1998 -5.82% -17.3%
1997 -6.54% -24.5%
1996 -5.32% -25.7%
1995 1.6% -13.6%
1994 2.59% -29.1%
1993 2.6% -7.19%
1992 3.11% -24%
1991 3.87% -19.5%
1990 2.34% -30.2%

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

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

In 2023, Jamaica's government surplus, the difference between spending and revenue, was $7.6M, equivalent to 0.04% of GDP. This compares to Lebanon's deficit of $342M, or 1.7% of GDP.

Over the past 34 years, Jamaica recorded a fiscal deficit in 21 of those years, while Lebanon ran a deficit in 34 years. On average, Jamaica posted an annual deficit equal to 2.21% of GDP, compared to deficit of 13.1% of GDP for Lebanon.

Inflation comparison by year

Inflation
Jamaica

Lebanon
1x
Year Consumer prices inflation
Jamaica Lebanon
2024 5.41% 45.2%
2023 6.47% 221.3%
2022 10.3% 171.2%
2021 5.86% 154.8%
2020 5.23% 84.9%
2019 3.91% 2.9%
2018 3.74% 6.1%
2017 4.38% 4.5%
2016 2.35% -0.8%
2015 3.69% -3.8%
2014 8.27% 1.1%
2013 9.34% 5.6%
2012 6.87% 6.6%
2011 7.56% 5%
2010 12.6% 4%
2009 9.59% 1.2%
2008 22% 10.7%
2007 9.24% 4.1%
2006 8.56% 4.1%
2005 15.1% -1.4%
2004 13.6% 1.7%
2003 10.1% 1.3%
2002 7.08% 1.8%
2001 6.8% -0.4%
2000 8.17% -0.4%
1999 5.95% 0.2%
1998 8.63% 4.5%
1997 9.66% 7.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Jamaica has recorded an average annual inflation rate of 8.23%, compared with 26.6% in Lebanon. In 2024, inflation was 5.41% in Jamaica and 45.2% in Lebanon.

Top exports between countries

Jamaica
Export category Export value
Lebanon
Export category Export value
Machinery & equipment $110K
Metals $46K

Balance of trade

Jamaica Lebanon
Current account balance
$679M
2024
-$5.64B
2023
Current account balance ranking
56/190
2024
168/190
2023
Current account balance, % of GDP
+3.08%
2024
-28.1%
2023
Goods imports
$6.07B
2024
$16.7B
2023
Goods exports
$1.87B
2024
$3.85B
2023
Service imports
$3.46B
2024
$6.63B
2023
Service exports
$5.26B
2024
$7.92B
2023
Imports of goods and services, % of GDP
52.1%
2019
73.7%
2023
Exports of goods and services, % of GDP
38%
2019
30.6%
2023

Economic freedom indices

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

Jamaica Lebanon
Economic freedom 68.2 43.1
Economic freedom ranking 48/197 183/197
Property rights 66.8 21.8
Government integrity 49.4 23.4
Judicial effectiveness 75.6 23.8
Tax burden 76.3 90.3
Government spending 76 93.3
Fiscal health 92.2 63.4
Business freedom 68.5 47.6
Labor freedom 59.2 48.4
Monetary freedom 74.2 0
Trade freedom 70.4 65.6
Investment freedom 60 20
Financial freedom 50 20

Economic freedom comparison by year

Jamaica
Lebanon
1x
Year Economic freedom index
Jamaica Lebanon
2026 68.2 43.1
2025 68.7 44.1
2024 68.1 48.3
2023 68.1 45.6
2022 67.4 47.3
2021 69 51.4
2020 68.5 51.7
2019 68.6 51.1
2018 69.1 53.2
2017 69.5 53.3
2016 67.5 59.5
2015 67.7 59.3
2014 66.7 59.4
2013 66.8 59.5
2012 65.1 60.1
2011 65.7 60.1
2010 65.5 59.5
2009 65.2 58.1
2008 65.7 60
2007 65.5 60.4
2006 66.4 57.5
2005 67 57.2
2004 66.7 56.9
2003 67 56.7
2002 61.7 57.1
2001 63.7 61
2000 65.5 56.1
1999 64.7 59.1
1998 67.1 59
1997 67.7 63.9
1996 66.7 63.2
1995 64.4 -

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 43.1 for Lebanon, ranking 183/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Lebanon
Services, % of GDP
60%
2024
42.4%
2023
Industry, % of GDP
16.5%
2024
2.09%
2023
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
0.97%
2023
GNI, Atlas method
$20.5B
2024
$21.4B
2023
GNI per capita, PPP
$12,690
2024
$12,420
2023
Total reserves including gold
$5.63B
2024
$33.3B
2024
Total reserves ranking
93/177
2024
54/177
2024
Net foreign direct investment
-$304M
2024
-$583M
2023
Net inflows of foreign direct investment
$305M
2024
$1.84B
2024
Net outflows of foreign direct investment
$1.07M
2024
$391M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
22%
2023
Poverty at national poverty lines
8.2%
2023
27.4%
2012
Gross capital formation, % of GDP
22.6%
2019
1.9%
2023

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/lebanon | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1999, retrieved 2026-02-20)
  6. TradeMap (2023, 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.