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Economy of Jamaica vs Mali compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $30.1B for Mali, ranking 125/197 and 114/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $12.6B (41.9% of GDP) in Mali.

Jamaica vs Mali GDP by year

Jamaica
Mali
1x
Year GDP, current $
Jamaica Mali
2025 $22,704,903,218 $30,069,148,581
2024 $22,014,429,051 $26,761,281,077
2023 $21,418,797,833 $24,777,941,861
2022 $18,813,516,805 $22,539,987,719
2021 $15,963,885,376 $22,999,245,263
2020 $15,000,214,216 $20,698,560,939
2019 $17,026,269,263 $20,477,421,885
2018 $16,855,447,986 $20,368,015,381
2017 $15,783,583,237 $18,308,362,040
2016 $14,898,999,754 $16,743,796,800
2015 $14,963,589,916 $15,583,181,170
2014 $13,899,217,680 $17,081,681,993
2013 $14,264,205,153 $15,747,192,681
2012 $14,807,086,556 $14,795,114,603
2011 $14,444,661,522 $15,452,791,789
2010 $13,220,549,908 $12,710,739,160
2009 $12,120,458,115 $12,155,217,833
2008 $13,709,401,520 $11,462,490,840
2007 $12,799,600,047 $9,699,047,443
2006 $11,930,179,090 $8,212,007,554
2005 $11,243,865,778 $7,429,066,952
2004 $10,174,664,854 $6,485,774,930
2003 $9,430,234,811 $5,605,613,011
2002 $9,719,009,495 $4,647,238,257
2001 $9,194,727,831 $4,124,281,594
2000 $9,005,064,475 $3,521,570,876
1999 $8,887,057,997 $4,091,446,054
1998 $8,787,195,622 $3,894,433,432
1997 $8,400,041,724 $3,414,879,486
1996 $7,393,891,921 $3,743,103,420
1995 $6,577,520,643 $3,373,322,735
1994 $5,452,558,947 $2,655,768,636
1993 $5,440,075,676 $3,632,801,877
1992 $3,535,460,090 $3,680,775,037
1991 $4,106,207,649 $3,576,562,682
1990 $4,592,208,087 $3,248,417,791
1989 $4,404,937,853 $2,824,822,489
1988 $3,828,342,820 $2,712,207,901
1987 $3,287,007,322 $2,437,004,680
1986 $2,754,549,582 $2,132,938,007
1985 $2,100,239,019 $1,594,347,021
1984 $2,373,564,549 $1,387,809,615
1983 $3,619,262,277 $1,496,616,127
1982 $3,293,496,312 $1,680,304,773
1981 $2,979,027,966 $2,234,583,940
1980 $2,679,379,372 $2,704,362,789
1979 $2,425,064,229 $1,595,422,956
1978 $2,644,527,822 $1,222,702,573
1977 $3,249,733,140 $1,049,838,548
1976 $2,966,042,856 $939,228,017
1975 $2,860,442,750 $830,710,615
1974 $2,375,122,375 $538,747,340
1973 $1,905,917,553 $563,683,703
1972 $1,875,146,587 $486,617,280
1971 $1,539,861,816 $395,218,629
1970 $1,404,720,442 $359,772,315
1969 $1,191,239,047 $339,913,867
1968 $1,083,839,133 $343,771,973
1967 $1,148,014,311 $275,494,478
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/mali | CC BY

GDP per capita in Jamaica vs Mali by year

Jamaica
GDP per capita

GDP per capita, PPP
Mali
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Mali
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $1,193 -
2024 $7,754 $12,890 $1,093 $3,315
2023 $7,542 $12,651 $1,042 $3,175
2022 $6,626 $11,888 $977 $3,014
2021 $5,626 $10,431 $1,027 $2,796
2020 $5,299 $9,764 $953 $2,724
2019 $6,031 $10,845 $972 $2,820
2018 $5,977 $10,753 $996 $2,684
2017 $5,605 $10,466 $924 $2,607
2016 $5,302 $9,948 $872 $2,532
2015 $5,339 $9,476 $838 $2,330
2014 $4,975 $9,210 $948 $2,185
2013 $5,124 $9,101 $902 $2,059
2012 $5,341 $8,831 $873 $1,990
2011 $5,233 $8,809 $938 $2,046
2010 $4,810 $8,521 $797 $2,012
2009 $4,428 $8,580 $787 $1,945
2008 $5,030 $8,952 $767 $1,893
2007 $4,716 $8,893 $671 $1,852
2006 $4,417 $8,577 $587 $1,832
2005 $4,184 $8,127 $549 $1,771
2004 $3,808 $7,854 $495 $1,730
2003 $3,550 $7,593 $442 $1,715
2002 $3,681 $7,226 $378 $1,581
2001 $3,504 $7,019 $346 $1,559
2000 $3,453 $6,816 $305 $1,357
1999 $3,432 $6,653 $364 $1,376
1998 $3,419 $6,543 $357 $1,332
1997 $3,297 $6,682 $321 $1,267
1996 $2,929 $6,706 $360 $1,224
1995 $2,631 $6,657 $331 $1,154
1994 $2,203 $6,435 $266.5 $1,147
1993 $2,221 $6,279 $372 $1,087
1992 $1,458 $5,664 $385 $1,039
1991 $1,710 $5,485 $382 $1,091
1990 $1,930 $5,106 $354 $956
1989 $1,865 - $314 -
1988 $1,632 - $307 -
1987 $1,411 - $280.7 -
1986 $1,191 - $250 -
1985 $917 - $190.4 -
1984 $1,048 - $169.1 -
1983 $1,619 - $186.3 -
1982 $1,494 - $213.8 -
1981 $1,370 - $290.5 -
1980 $1,249 - $359 -
1979 $1,144 - $216.3 -
1978 $1,262 - $169.1 -
1977 $1,569 - $148.1 -
1976 $1,450 - $134.9 -
1975 $1,417 - $121.5 -
1974 $1,193 - $80.2 -
1973 $972 - $85.4 -
1972 $971 - $75.1 -
1971 $809 - $62 -
1970 $748 - $57.3 -
1969 $642 - $55 -
1968 $591 - $56.5 -
1967 $633 - $46 -
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/mali | CC BY

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $1,193 in Mali, ranking 174/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Mali ranks 174th at $3,315.

Economic indicators

Jamaica Mali
Gross domestic product
$22.7B
2025
$30.1B
2025
GDP rank
125/197
2025
114/197
2025
GDP growth
0.08%
2024-2025
5.6%
2024-2025
GDP per capita
$8,003
2025
$1,193
2025
GDP per capita rank
98/197
2025
174/197
2025
GDP per capita, PPP
$12,890
2024
$3,315
2024
GDP per capita PPP rank
121/197
2024
174/197
2024
Government debt
$15.4B
2025
$12.6B
2025
Debt-to-GDP ratio
67.7%
2025
41.9%
2025
Government debt per person
$5,419
2025
$500
2025
Government debt per person rank
80/185
2025
168/185
2025
Average annual personal income after taxes
$8,390
2026
$1,949
2026
Market capitalization of domestic companies
$11.6B
2025
n/a
Income share by richest 10%
29.6%
2021
28.3%
2021
Income share by poorest 10%
2.2%
2021
3.2%
2021
Government expenditure, % of GDP
33.8%
2025
20.9%
2025
Consumer prices inflation
4%
2024-2025
2.3%
2024-2025
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
4.5%
2024
Population
2834177
26322576

Spending and national debt comparison by year

Jamaica
Spending

Debt
Mali
Spending

Debt
1x
Year % of GDP
Jamaica Mali
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 20.9% 41.9%
2024 30.1% 62.5% 21% 44%
2023 27.7% 66.5% 21.2% 44.3%
2022 27.1% 70.2% 20.8% 42.9%
2021 27.6% 86.3% 22.5% 43.2%
2020 30.1% 101.3% 22% 39.8%
2019 27.5% 87.7% 19.5% 34.3%
2018 27.5% 88.3% 17% 31.4%
2017 26.9% 95.1% 19.2% 30.1%
2016 26.5% 106.9% 18.6% 30.1%
2015 25.9% 115.9% 17.6% 25.8%
2014 26.1% 134.4% 16.8% 22.6%
2013 26.3% 135.2% 16.6% 22.2%
2012 29.1% 140.3% 13.1% 21.3%
2011 31.2% 135.9% 17.3% 20.1%
2010 32.3% 137.8% 17.4% 21.8%
2009 37.7% 138.3% 19.6% 18.8%
2008 33.9% 123.8% 16.2% 17.3%
2007 30.6% 111.6% 18.1% 15.6%
2006 30.1% 114.2% 18.9% 15.4%
2005 28.6% 121.5% 18.3% 39.5%
2004 30.7% 116.9% 18.5% 36.1%
2003 31.1% 120.1% 17.8% 37.7%
2002 30.1% 115.4% 16.8% 36%
2001 27.8% 105.3% 15.7% 66.3%
2000 25.7% 89.5% 16.5% 77%
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/mali | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Mali spent $6.29B, or 20.9% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 41.9% in Mali, ranking 62/185 and 125/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Mali
1x
Year Deficit/surplus, % of GDP
Jamaica Mali
2025 -3.77% -1.59%
2024 0.22% -2.16%
2023 0.04% -3.05%
2022 0.26% -4.05%
2021 0.84% -4.12%
2020 -2.87% -4.56%
2019 0.85% -1.42%
2018 1.1% -3.97%
2017 0.42% -2.4%
2016 -0.18% -3.3%
2015 -0.28% -1.53%
2014 -0.48% -2.43%
2013 0.12% -1.99%
2012 -3.97% -0.8%
2011 -6.24% -2.87%
2010 -6.17% -2.21%
2009 -10.8% -3.19%
2008 -7.32% -1.69%
2007 -3.7% -2.35%
2006 -4.74% 23.7%
2005 -3.22% -2.34%
2004 -4.56% -2.01%
2003 -5.42% -1.01%
2002 -6.55% -2.61%
2001 -4.77% -2.39%
2000 -0.78% -2.25%
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/mali | 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 Mali's deficit of $478M, or 1.59% of GDP.

Over the past 26 years, Jamaica recorded a fiscal deficit in 18 of those years, while Mali ran a deficit in 25 years. On average, Jamaica posted an annual deficit equal to 2.77% of GDP, compared to deficit of 1.48% of GDP for Mali.

Inflation comparison by year

Inflation
Jamaica

Mali
1x
Year Consumer prices inflation
Jamaica Mali
2025 4% 2.3%
2024 5.41% 3.2%
2023 6.47% 2.1%
2022 10.3% 9.7%
2021 5.86% 3.8%
2020 5.23% 0.5%
2019 3.91% -3%
2018 3.74% 1.9%
2017 4.38% 2.4%
2016 2.35% -1.8%
2015 3.69% 1.4%
2014 8.27% 0.9%
2013 9.34% -0.6%
2012 6.87% 5.3%
2011 7.56% 3%
2010 12.6% 1.2%
2009 9.59% 2.4%
2008 22% 9.2%
2007 9.24% 1.4%
2006 8.56% 1.6%
2005 15.1% 6.4%
2004 13.6% -3.1%
2003 10.1% -1.3%
2002 7.08% 5%
2001 6.8% 5.2%
2000 8.17% -0.8%
1999 5.95% -1.2%
1998 8.63% 4.1%
1997 9.66% -0.7%

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/mali | CC BY

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 2.09% in Mali. In 2025, inflation was 4% in Jamaica and 2.3% in Mali.

Balance of trade

Jamaica Mali
Current account balance
$679M
2024
-$1.16B
2024
Current account balance ranking
53/190
2024
122/190
2024
Current account balance, % of GDP
+3.08%
2024
-4.33%
2024
Goods imports
$6.07B
2024
$5.49B
2024
Goods exports
$1.87B
2024
$5.48B
2024
Service imports
$3.46B
2024
$1.8B
2024
Service exports
$5.26B
2024
$516M
2024
Imports of goods and services, % of GDP
52.1%
2019
26.7%
2025
Exports of goods and services, % of GDP
38%
2019
22.1%
2025

Economic freedom indices

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

Jamaica Mali
Economic freedom 68.2 52.1
Economic freedom ranking 48/197 150/197
Property rights 66.8 13.8
Government integrity 49.4 23.2
Judicial effectiveness 75.6 23.3
Tax burden 76.3 67.9
Government spending 76 81.8
Fiscal health 92.2 73.6
Business freedom 68.5 40.8
Labor freedom 59.2 54.1
Monetary freedom 74.2 78.2
Trade freedom 70.4 64
Investment freedom 60 65
Financial freedom 50 40

Economic freedom comparison by year

Jamaica
Mali
1x
Year Economic freedom index
Jamaica Mali
2026 68.2 52.1
2025 68.7 52.6
2024 68.1 52.5
2023 68.1 54.5
2022 67.4 55.9
2021 69 55.6
2020 68.5 55.9
2019 68.6 58.1
2018 69.1 57.6
2017 69.5 58.6
2016 67.5 56.5
2015 67.7 56.4
2014 66.7 55.5
2013 66.8 56.4
2012 65.1 55.8
2011 65.7 56.3
2010 65.5 55.6
2009 65.2 55.6
2008 65.7 55.6
2007 65.5 54.7
2006 66.4 54.1
2005 67 57.3
2004 66.7 56.6
2003 67 58.6
2002 61.7 61.1
2001 63.7 60.1
2000 65.5 60.3
1999 64.7 58.4
1998 67.1 57.3
1997 67.7 56.4
1996 66.7 57
1995 64.4 52.4

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 52.1 for Mali, ranking 150/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Mali
Services, % of GDP
59.8%
2025
36.6%
2025
Industry, % of GDP
16.3%
2025
23.4%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
33%
2025
GNI, Atlas method
$22.1B
2025
$28.3B
2025
GNI per capita, PPP
$13,090
2025
$3,400
2025
Total reserves including gold
$6.3B
2025
n/a
Total reserves ranking
92/177
2025
n/a
Net foreign direct investment
-$304M
2024
-$843M
2024
Net inflows of foreign direct investment
$305M
2024
$921M
2024
Net outflows of foreign direct investment
$1.07M
2024
$78.1M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
1.42%
2024
Poverty at national poverty lines
8.2%
2023
43.3%
2024
Gross capital formation, % of GDP
22.6%
2019
20%
2025

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/mali | 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.