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Economy of Jamaica vs Liberia compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $5.25B for Liberia, ranking 125/197 and 162/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $2.88B (54.9% of GDP) in Liberia.

Jamaica vs Liberia GDP by year

Jamaica
Liberia
1x
Year GDP, current $
Jamaica Liberia
2025 $22,704,903,218 $5,245,938,900
2024 $22,014,429,051 $4,779,300,900
2023 $21,418,797,833 $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 (1960–2025, retrieved 2026-07-08).

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
2025 $8,003 - $915 -
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 (1960–2025, retrieved 2026-07-08).

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

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $915 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
$22.7B
2025
$5.25B
2025
GDP rank
125/197
2025
162/197
2025
GDP growth
0.08%
2024-2025
5.02%
2024-2025
GDP per capita
$8,003
2025
$915
2025
GDP per capita rank
98/197
2025
184/197
2025
GDP per capita, PPP
$12,890
2024
$1,871
2024
GDP per capita PPP rank
121/197
2024
188/197
2024
Government debt
$15.4B
2025
$2.88B
2025
Debt-to-GDP ratio
67.7%
2025
54.9%
2025
Government debt per person
$5,419
2025
$502
2025
Government debt per person rank
80/185
2025
167/185
2025
Average annual personal income after taxes
$8,390
2026
$1,467
2026
Market capitalization of domestic companies
$11.6B
2025
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
33.8%
2025
22.4%
2025
Consumer prices inflation
4%
2024-2025
8.3%
2024-2025
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
5.93%
2017
Population
2834177
5916561

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
2025 33.8% 67.7% 22.4% 54.9%
2024 30.1% 62.5% 24.1% 56.4%
2023 27.7% 66.5% 28.6% 57.2%
2022 27.1% 70.2% 27.4% 54.4%
2021 27.6% 86.3% 29.8% 53.5%
2020 30.1% 101.3% 35.3% 58.5%
2019 27.5% 87.7% 32.3% 48.1%
2018 27.5% 88.3% 32.7% 36.2%
2017 26.9% 95.1% 35.1% 31.8%
2016 26.5% 106.9% 35.8% 28%
2015 25.9% 115.9% 37.1% 24.4%
2014 26.1% 134.4% 33.4% 24.3%
2013 26.3% 135.2% 27.4% 20.6%
2012 29.1% 140.3% 30.8% 20.5%
2011 31.2% 135.9% 29.8% 22.5%
2010 32.3% 137.8% 25.1% 25.4%
2009 37.7% 138.3% 24% 132.2%
2008 33.9% 123.8% 21.8% 235.3%
2007 30.6% 111.6% 16.1% 367%
2006 30.1% 114.2% 10.6% 451%
2005 28.6% 121.5% 11.7% 488%
2004 30.7% 116.9% 12.1% 543%
2003 31.1% 120.1% 8.98% 600%
2002 30.1% 115.4% 12.7% 464%
2001 27.8% 105.3% 12.1% 465%
2000 25.7% 89.5% 14.5% 468%
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/liberia | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Liberia spent $1.18B, or 22.4% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 54.9% in Liberia, ranking 62/185 and 90/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Liberia
1x
Year Deficit/surplus, % of GDP
Jamaica Liberia
2025 -3.77% -1.41%
2024 0.22% -1.8%
2023 0.04% -8.55%
2022 0.26% -5.82%
2021 0.84% -2.5%
2020 -2.87% -4.02%
2019 0.85% -4.92%
2018 1.1% -4.7%
2017 0.42% -7.14%
2016 -0.18% -3.83%
2015 -0.28% -3.74%
2014 -0.48% -4.92%
2013 0.12% 1.29%
2012 -3.97% -2.86%
2011 -6.24% -4.39%
2010 -6.17% 1.16%
2009 -10.8% -1.4%
2008 -7.32% -2.7%
2007 -3.7% 2.28%
2006 -4.74% 4.23%
2005 -3.22% -0.51%
2004 -4.56% -0.56%
2003 -5.42% 0.36%
2002 -6.55% -1.57%
2001 -4.77% -0.94%
2000 -0.78% -0.08%
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/liberia | 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 Liberia's deficit of $74.2M, or 1.41% of GDP.

Over the past 26 years, Jamaica recorded a fiscal deficit in 18 of those years, while Liberia ran a deficit in 21 years. On average, Jamaica posted an annual deficit equal to 2.77% of GDP, compared to deficit of 2.27% of GDP for Liberia.

Inflation comparison by year

Inflation
Jamaica

Liberia
1x
Year Consumer prices inflation
Jamaica Liberia
2025 4% 8.3%
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 (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (1999–2025, retrieved 2026-07-08).

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

Over the past 27 years, Jamaica has recorded an average annual inflation rate of 8.01%, compared with 10.3% in Liberia. In 2025, inflation was 4% in Jamaica and 8.3% 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
$120M
2024
Current account balance ranking
53/190
2024
62/190
2024
Current account balance, % of GDP
+3.08%
2024
+2.51%
2024
Goods imports
$6.07B
2024
$1.51B
2024
Goods exports
$1.87B
2024
$1.31B
2024
Service imports
$3.46B
2024
$253M
2024
Service exports
$5.26B
2024
$42.6M
2024
Imports of goods and services, % of GDP
52.1%
2019
n/a
Exports of goods and services, % of GDP
38%
2019
28.5%
2026

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 2026-07-08).

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
59.8%
2025
40%
2025
Industry, % of GDP
16.3%
2025
24.5%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
32.7%
2025
GNI, Atlas method
$22.1B
2025
$4.76B
2025
GNI per capita, PPP
$13,090
2025
$1,840
2025
Total reserves including gold
$6.3B
2025
$339M
2025
Total reserves ranking
92/177
2025
166/177
2025
Net foreign direct investment
-$304M
2024
-$397M
2024
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
3.12%
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 (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/jamaica/liberia | 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)
  8. TradeMap (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.