Skip to content

Economy of Jamaica vs Liberia compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $4.78B for Liberia, ranking 124/197 and 163/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $2.73B (57.2% of GDP) in Liberia.

Jamaica vs Liberia GDP by year

Jamaica
Liberia
1x
Year GDP, current $
Jamaica Liberia
2024 $22,014,397,090 $4,779,300,900
2023 $21,418,804,320 $4,390,000,000
2022 $18,813,516,805 $4,001,047,000
2021 $15,963,885,376 $3,513,049,500
2020 $15,000,214,216 $3,176,126,300
2019 $17,026,269,263 $3,319,596,500
2018 $16,855,447,986 $3,422,754,800
2017 $15,783,583,237 $3,390,703,400
2016 $14,898,999,754 $3,398,419,600
2015 $14,963,589,916 $3,227,075,700
2014 $13,899,217,680 $3,225,652,000
2013 $14,264,205,153 $3,177,198,100
2012 $14,807,086,556 $2,791,614,000
2011 $14,444,661,522 $2,398,000,000
2010 $13,220,549,908 $1,998,000,000
2009 $12,120,458,115 $1,768,000,000
2008 $13,709,401,520 $1,726,000,000
2007 $12,799,600,047 $1,373,000,000
2006 $11,930,179,090 $1,119,000,000
2005 $11,243,865,778 $949,000,000
2004 $10,174,664,854 $897,000,000
2003 $9,430,234,811 $748,000,000
2002 $9,719,009,495 $927,000,000
2001 $9,194,727,831 $906,000,000
2000 $9,005,064,475 $874,000,000
1999 $8,887,057,997 $441,800,000
1998 $8,787,195,622 $359,600,000
1997 $8,400,041,724 $295,900,000
1996 $7,393,891,921 $159,400,000
1995 $6,577,520,643 $134,800,000
1994 $5,452,558,947 $132,200,000
1993 $5,440,075,676 $160,400,000
1992 $3,535,460,090 $223,500,000
1991 $4,106,207,649 $348,000,000
1990 $4,592,208,087 $384,400,000
1989 $4,404,937,853 $786,300,000
1988 $3,828,342,820 $1,038,300,000
1987 $3,287,007,322 $972,800,000
1986 $2,754,549,582 $840,964,400
1985 $2,100,239,019 $851,296,100
1984 $2,373,564,549 $848,478,300
1983 $3,619,262,277 $823,374,900
1982 $3,293,496,312 $863,933,200
1981 $2,979,027,966 $846,514,500
1980 $2,679,379,372 $854,711,500
1979 $2,425,064,229 $814,067,900
1978 $2,644,527,822 $717,240,400
1977 $3,249,733,140 $673,010,600
1976 $2,966,042,856 $596,675,700
1975 $2,860,442,750 $577,549,300
1974 $2,375,122,375 $486,955,000
1973 $1,905,917,553 $386,968,300
1972 $1,875,146,587 $368,098,000
1971 $1,539,861,816 $341,543,100
1970 $1,404,720,442 $323,099,700
1969 $1,191,239,047 $306,961,800
1968 $1,083,839,133 $276,820,700
1967 $1,148,014,311 $261,024,300
1966 $1,096,759,561 $244,459,500
1965 $972,159,611 $229,260,800
1964 $897,949,001 $218,929,100
1963 $826,706,669 $200,229,600
1962 $777,727,689 $191,861,800
1961 $748,043,501 $183,920,900
1960 $699,064,380 $190,495,600

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

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

GDP per capita in Jamaica vs Liberia by year

Jamaica
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 $851 $1,871
2023 $7,542 $12,651 $799 $1,795
2022 $6,626 $11,888 $745 $1,692
2021 $5,626 $10,431 $668 $1,539
2020 $5,299 $9,764 $617 $1,660
2019 $6,031 $10,845 $658 $1,900
2018 $5,977 $10,753 $692 $1,800
2017 $5,605 $10,466 $699 $1,665
2016 $5,302 $9,948 $715 $1,490
2015 $5,339 $9,476 $693 $1,340
2014 $4,975 $9,210 $707 $1,419
2013 $5,124 $9,101 $711 $1,360
2012 $5,341 $8,831 $638 $1,157
2011 $5,233 $8,809 $568 $1,041
2010 $4,810 $8,521 $492 $980
2009 $4,428 $8,580 $448 $939
2008 $5,030 $8,952 $452 $915
2007 $4,716 $8,893 $374 $873
2006 $4,417 $8,577 $321 $815
2005 $4,184 $8,127 $287.5 $774
2004 $3,808 $7,854 $284.1 $745
2003 $3,550 $7,593 $239.8 $716
2002 $3,681 $7,226 $299.5 $1,013
2001 $3,504 $7,019 $300 $987
2000 $3,453 $6,816 $298.5 $965
1999 $3,432 $6,653 $156.6 $762
1998 $3,419 $6,543 $134.7 $652
1997 $3,297 $6,682 $122.6 $548
1996 $2,929 $6,706 $71.4 $282.2
1995 $2,631 $6,657 $62.1 $254.4
1994 $2,203 $6,435 $61.5 $262.6
1993 $2,221 $6,279 $74.4 $328
1992 $1,458 $5,664 $107.8 $497
1991 $1,710 $5,485 $177.9 $793
1990 $1,930 $5,106 $172.9 $787
1989 $1,865 - $312 -
1988 $1,632 - $424 -
1987 $1,411 - $409 -
1986 $1,191 - $364 -
1985 $917 - $380 -
1984 $1,048 - $390 -
1983 $1,619 - $391 -
1982 $1,494 - $422 -
1981 $1,370 - $426 -
1980 $1,249 - $443 -
1979 $1,144 - $435 -
1978 $1,262 - $394 -
1977 $1,569 - $381 -
1976 $1,450 - $347 -
1975 $1,417 - $346 -
1974 $1,193 - $299.4 -
1973 $972 - $244.4 -
1972 $971 - $238.6 -
1971 $809 - $227.1 -
1970 $748 - $220.3 -
1969 $642 - $214.7 -
1968 $591 - $198.6 -
1967 $633 - $192.2 -
1966 $612 - $184.6 -
1965 $549 - $177.6 -
1964 $514 - $173.9 -
1963 $480 - $163.1 -
1962 $458 - $160.3 -
1961 $447 - $157.5 -
1960 $424 - $167.2 -

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

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

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $851 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Liberia ranks 188th at $1,871.

Economic indicators

Jamaica Liberia
Gross domestic product
$22B
2024
$4.78B
2024
GDP rank
124/197
2024
163/197
2024
GDP growth
-0.54%
2023-2024
4.02%
2023-2024
GDP per capita
$7,754
2024
$851
2024
GDP per capita rank
95/197
2024
184/197
2024
GDP per capita, PPP
$12,890
2024
$1,871
2024
GDP per capita PPP rank
121/197
2024
188/197
2024
Government debt
$14B
2024
$2.73B
2024
Debt-to-GDP ratio
63.4%
2024
57.2%
2024
Government debt per person
$4,917
2024
$487
2024
Government debt per person rank
79/185
2024
167/185
2024
Average annual personal income after taxes
$6,905
2026
$1,191
2026
Market capitalization of domestic companies
$12.4B
2024
n/a
Income share by richest 10%
29.6%
2021
27.1%
2016
Income share by poorest 10%
2.2%
2021
2.9%
2016
Government expenditure, % of GDP
30.5%
2024
24.3%
2024
Consumer prices inflation
5.41%
2023-2024
8.2%
2023-2024
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
5.93%
2017
Population
2834980
5887000

Spending and national debt comparison by year

Jamaica
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Jamaica Liberia
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 24.3% 57.2%
2023 28% 67.3% 27.1% 57.8%
2022 28.4% 73.5% 26.9% 54.3%
2021 29% 90.9% 29.8% 53.3%
2020 29.8% 100.1% 35.3% 58.7%
2019 27.8% 88.6% 32.3% 48.6%
2018 27.8% 89.2% 32.7% 37.1%
2017 27.3% 96.7% 35.1% 31.8%
2016 27% 109.1% 35.8% 28.6%
2015 26.3% 117.6% 37.1% 24.8%
2014 26.5% 136.7% 33.4% 24.3%
2013 26.9% 138.1% 27.4% 20.6%
2012 29.6% 143% 30.8% 20.5%
2011 31.7% 138.1% 30.1% 22.7%
2010 32.9% 140.1% 25.2% 25.6%
2009 38.6% 141.5% 23.7% 130.9%
2008 34.4% 125.6% 21.6% 233.1%
2007 31.6% 115.3% 17.2% 394%
2006 31.2% 118% 11.1% 472%
2005 29.3% 124.5% 12.8% 535%
2004 31.5% 120.1% 12.1% 543%
2003 32.5% 125.5% 9.85% 658%
2002 31.1% 119.1% 13.2% 481%
2001 28.5% 107.9% 12.6% 484%
2000 26.2% 91.3% 15.2% 489%
1999 28.9% 83.5% - -
1998 28.3% 75.6% - -
1997 28.3% 74.4% - -
1996 27.7% 70.2% - -
1995 23.1% 85.2% - -
1994 21.5% 90.4% - -
1993 21.5% 106.2% - -
1992 20% 100.4% - -
1991 24.5% 175.1% - -
1990 25.7% 128.8% - -

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

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

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Liberia spent $1.16B, or 24.3% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 57.2% in Liberia, ranking 73/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Liberia
1x
Year Deficit/surplus, % of GDP
Jamaica Liberia
2024 0.22% -1.98%
2023 0.04% -7.03%
2022 0.27% -5.33%
2021 0.89% -2.5%
2020 -2.83% -4.02%
2019 0.85% -4.92%
2018 1.12% -4.7%
2017 0.43% -7.14%
2016 -0.19% -3.83%
2015 -0.28% -3.74%
2014 -0.49% -4.92%
2013 0.12% 1.29%
2012 -4.05% -2.86%
2011 -6.34% -4.43%
2010 -6.27% 1.17%
2009 -11.1% -1.39%
2008 -7.43% -2.68%
2007 -3.82% 2.44%
2006 -4.9% 4.42%
2005 -3.3% -0.55%
2004 -4.68% -0.56%
2003 -5.67% 0.39%
2002 -6.77% -1.63%
2001 -4.89% -0.98%
2000 -0.8% -0.08%
1999 -3.53% -
1998 -5.82% -
1997 -6.54% -
1996 -5.32% -
1995 1.6% -
1994 2.59% -
1993 2.6% -
1992 3.11% -
1991 3.87% -
1990 2.34% -

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

GeoRank.org/economy/jamaica/liberia | 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 Liberia's deficit of $94.6M, or 1.98% of GDP.

Over the past 25 years, Jamaica recorded a fiscal deficit in 17 of those years, while Liberia ran a deficit in 20 years. On average, Jamaica posted an annual deficit equal to 2.8% of GDP, compared to deficit of 2.22% of GDP for Liberia.

Inflation comparison by year

Inflation
Jamaica

Liberia
1x
Year Consumer prices inflation
Jamaica Liberia
2024 5.41% 8.2%
2023 6.47% 10.1%
2022 10.3% 7.6%
2021 5.86% 7.8%
2020 5.23% 17%
2019 3.91% 27%
2018 3.74% 23.5%
2017 4.38% 12.4%
2016 2.35% 8.8%
2015 3.69% 7.7%
2014 8.27% 9.9%
2013 9.34% 7.6%
2012 6.87% 6.8%
2011 7.56% 8.5%
2010 12.6% 7.3%
2009 9.59% 7.4%
2008 22% 17.5%
2007 9.24% 11.4%
2006 8.56% 9.5%
2005 15.1% 6.9%
2004 13.6% 3.6%
2003 10.1% 10.3%
2002 7.08% 14.2%
2001 6.8% 12.1%
2000 8.17% 5.3%
1999 5.95% 2%
1998 8.63% -
1997 9.66% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1999–2024, retrieved 2026-02-20).

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

Over the past 26 years, Jamaica has recorded an average annual inflation rate of 8.16%, compared with 10.4% in Liberia. In 2024, inflation was 5.41% in Jamaica and 8.2% in Liberia.

Top exports between countries

Jamaica
Export category Export value
Miscellaneous $2K
Liberia
Export category Export value

Balance of trade

Jamaica Liberia
Current account balance
$679M
2024
$64.8M
2022
Current account balance ranking
56/190
2024
73/190
2022
Current account balance, % of GDP
+3.08%
2024
+1.62%
2022
Goods imports
$6.07B
2024
$1.53B
2022
Goods exports
$1.87B
2024
$1.03B
2022
Service imports
$3.46B
2024
$434M
2022
Service exports
$5.26B
2024
$192M
2022
Imports of goods and services, % of GDP
52.1%
2019
n/a
Exports of goods and services, % of GDP
38%
2019
28.5%
2025

Economic freedom indices

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

Jamaica Liberia
Economic freedom 68.2 49.8
Economic freedom ranking 48/197 163/197
Property rights 66.8 40.4
Government integrity 49.4 25.8
Judicial effectiveness 75.6 23.4
Tax burden 76.3 86.1
Government spending 76 79.5
Fiscal health 92.2 56.9
Business freedom 68.5 38
Labor freedom 59.2 43.4
Monetary freedom 74.2 71.4
Trade freedom 70.4 57.4
Investment freedom 60 55
Financial freedom 50 20

Economic freedom comparison by year

Jamaica
Liberia
1x
Year Economic freedom index
Jamaica Liberia
2026 68.2 49.8
2025 68.7 48.5
2024 68.1 49.9
2023 68.1 49.6
2022 67.4 47.9
2021 69 49.2
2020 68.5 49
2019 68.6 49.7
2018 69.1 50.9
2017 69.5 49.1
2016 67.5 52.2
2015 67.7 52.7
2014 66.7 52.4
2013 66.8 49.3
2012 65.1 48.6
2011 65.7 46.5
2010 65.5 46.2
2009 65.2 48.1
2008 65.7 -
2007 65.5 -
2006 66.4 -
2005 67 -
2004 66.7 -
2003 67 -
2002 61.7 -
2001 63.7 -
2000 65.5 -
1999 64.7 -
1998 67.1 -
1997 67.7 -
1996 66.7 -
1995 64.4 -

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Liberia
Services, % of GDP
60%
2024
41.9%
2024
Industry, % of GDP
16.5%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
33.8%
2024
GNI, Atlas method
$20.5B
2024
$4.28B
2024
GNI per capita, PPP
$12,690
2024
$1,750
2024
Total reserves including gold
$5.63B
2024
$600M
2022
Total reserves ranking
93/177
2024
153/177
2022
Net foreign direct investment
-$304M
2024
-$960M
2022
Net inflows of foreign direct investment
$305M
2024
$472M
2024
Net outflows of foreign direct investment
$1.07M
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
3.09%
2024
Poverty at national poverty lines
8.2%
2023
50.9%
2016
Gross capital formation, % of GDP
22.6%
2019
n/a

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/liberia | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

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 (1990–1998, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2020, 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.