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Economy of Jamaica vs Malta compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $27.8B for Malta, ranking 125/197 and 118/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $13B (46.8% of GDP) in Malta.

Jamaica vs Malta GDP by year

Jamaica
Malta
1x
Year GDP, current $
Jamaica Malta
2025 $22,704,903,218 $27,771,821,561
2024 $22,014,429,051 $25,042,712,191
2023 $21,418,797,833 $22,625,329,776
2022 $18,813,516,805 $18,938,869,147
2021 $15,963,885,376 $19,730,119,031
2020 $15,000,214,216 $16,404,655,808
2019 $17,026,269,263 $16,337,788,881
2018 $16,855,447,986 $16,153,785,817
2017 $15,783,583,237 $14,161,374,599
2016 $14,898,999,754 $12,025,777,078
2015 $14,963,589,916 $11,340,789,706
2014 $13,899,217,680 $11,888,029,752
2013 $14,264,205,153 $10,796,780,874
2012 $14,807,086,556 $9,609,530,619
2011 $14,444,661,522 $9,789,363,086
2010 $13,220,549,908 $9,097,044,301
2009 $12,120,458,115 $8,769,897,418
2008 $13,709,401,520 $9,172,399,573
2007 $12,799,600,047 $7,908,412,374
2006 $11,930,179,090 $6,749,838,862
2005 $11,243,865,778 $6,393,234,965
2004 $10,174,664,854 $6,104,141,501
2003 $9,430,234,811 $5,418,315,225
2002 $9,719,009,495 $4,455,127,398
2001 $9,194,727,831 $4,070,867,153
2000 $9,005,064,475 $4,036,809,767
1999 $8,887,057,997 $4,111,857,836
1998 $8,787,195,622 $4,010,111,652
1997 $8,400,041,724 $3,787,023,655
1996 $7,393,891,921 $3,822,547,151
1995 $6,577,520,643 $3,709,396,089
1994 $5,452,558,947 $2,998,505,428
1993 $5,440,075,676 $2,709,193,538
1992 $3,535,460,090 $3,021,942,759
1991 $4,106,207,649 $2,750,216,747
1990 $4,592,208,087 $2,547,328,748
1989 $4,404,937,853 $2,118,655,677
1988 $3,828,342,820 $2,019,503,068
1987 $3,287,007,322 $1,751,293,461
1986 $2,754,549,582 $1,435,038,441
1985 $2,100,239,019 $1,117,797,439
1984 $2,373,564,549 $1,101,807,023
1983 $3,619,262,277 $1,165,729,707
1982 $3,293,496,312 $1,234,474,404
1981 $2,979,027,966 $1,243,509,394
1980 $2,679,379,372 $1,250,198,601
1979 $2,425,064,229 $1,001,288,847
1978 $2,644,527,822 $793,673,402
1977 $3,249,733,140 $625,563,171
1976 $2,966,042,856 $527,936,989
1975 $2,860,442,750 $474,618,321
1974 $2,375,122,375 $376,081,124
1973 $1,905,917,553 $345,616,106
1972 $1,875,146,587 $295,106,628
1971 $1,539,861,816 $264,578,485
1970 $1,404,720,442 $250,728,796
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/malta | CC BY

GDP per capita in Jamaica vs Malta by year

Jamaica
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $47,907 -
2024 $7,754 $12,890 $44,024 $69,864
2023 $7,542 $12,651 $40,933 $67,057
2022 $6,626 $11,888 $35,659 $60,589
2021 $5,626 $10,431 $38,078 $56,852
2020 $5,299 $9,764 $31,823 $49,972
2019 $6,031 $10,845 $32,422 $51,393
2018 $5,977 $10,753 $33,382 $48,178
2017 $5,605 $10,466 $30,317 $45,764
2016 $5,302 $9,948 $26,459 $41,000
2015 $5,339 $9,476 $25,530 $38,369
2014 $4,975 $9,210 $27,425 $35,206
2013 $5,124 $9,101 $25,416 $33,138
2012 $5,341 $8,831 $22,878 $30,716
2011 $5,233 $8,809 $23,517 $29,426
2010 $4,810 $8,521 $21,947 $28,909
2009 $4,428 $8,580 $21,262 $26,782
2008 $5,030 $8,952 $22,406 $26,654
2007 $4,716 $8,893 $19,444 $25,012
2006 $4,417 $8,577 $16,654 $23,219
2005 $4,184 $8,127 $15,831 $22,227
2004 $3,808 $7,854 $15,212 $21,566
2003 $3,550 $7,593 $13,594 $20,813
2002 $3,681 $7,226 $11,251 $19,532
2001 $3,504 $7,019 $10,358 $18,435
2000 $3,453 $6,816 $10,348 $18,214
1999 $3,432 $6,653 $10,609 $16,898
1998 $3,419 $6,543 $10,408 $16,219
1997 $3,297 $6,682 $9,893 $15,465
1996 $2,929 $6,706 $10,062 $14,661
1995 $2,631 $6,657 $9,828 $13,950
1994 $2,203 $6,435 $8,000 $12,938
1993 $2,221 $6,279 $7,296 $12,103
1992 $1,458 $5,664 $8,220 $11,429
1991 $1,710 $5,485 $7,559 $10,784
1990 $1,930 $5,106 $7,192 $10,086
1989 $1,865 - $6,041 -
1988 $1,632 - $5,814 -
1987 $1,411 - $5,084 -
1986 $1,191 - $4,195 -
1985 $917 - $3,322 -
1984 $1,048 - $3,333 -
1983 $1,619 - $3,527 -
1982 $1,494 - $3,788 -
1981 $1,370 - $3,898 -
1980 $1,249 - $3,948 -
1979 $1,144 - $3,196 -
1978 $1,262 - $2,559 -
1977 $1,569 - $2,038 -
1976 $1,450 - $1,727 -
1975 $1,417 - $1,560 -
1974 $1,193 - $1,245 -
1973 $972 - $1,144 -
1972 $971 - $976 -
1971 $809 - $874 -
1970 $748 - $828 -
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/malta | CC BY

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $47,907 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Malta ranks 25th at $69,864.

Economic indicators

Jamaica Malta
Gross domestic product
$22.7B
2025
$27.8B
2025
GDP rank
125/197
2025
118/197
2025
GDP growth
0.08%
2024-2025
3.96%
2024-2025
GDP per capita
$8,003
2025
$47,907
2025
GDP per capita rank
98/197
2025
28/197
2025
GDP per capita, PPP
$12,890
2024
$69,864
2024
GDP per capita PPP rank
121/197
2024
25/197
2024
Government debt
$15.4B
2025
$13B
2025
Debt-to-GDP ratio
67.7%
2025
46.8%
2025
Government debt per person
$5,419
2025
$22,407
2025
Government debt per person rank
80/185
2025
30/185
2025
Average annual personal income after taxes
$8,390
2026
$22,914
2026
Market capitalization of domestic companies
$11.6B
2025
$5.35B
2025
Income share by richest 10%
29.6%
2021
24.7%
2023
Income share by poorest 10%
2.2%
2021
2.8%
2023
Government expenditure, % of GDP
33.8%
2025
37%
2025
Consumer prices inflation
4%
2024-2025
2.36%
2024-2025
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
3.1%
2025
Population
2834177
586345

Spending and national debt comparison by year

Jamaica
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Jamaica Malta
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 37% 46.8%
2024 30.1% 62.5% 37.4% 46%
2023 27.7% 66.5% 35.8% 46.8%
2022 27.1% 70.2% 38.4% 50.1%
2021 27.6% 86.3% 39.5% 49.6%
2020 30.1% 101.3% 42.1% 48.6%
2019 27.5% 87.7% 34.9% 39.2%
2018 27.5% 88.3% 34.5% 41.4%
2017 26.9% 95.1% 32.7% 45.6%
2016 26.5% 106.9% 35.5% 53.1%
2015 25.9% 115.9% 37.8% 55%
2014 26.1% 134.4% 39.6% 60.7%
2013 26.3% 135.2% 40.1% 64.9%
2012 29.1% 140.3% 41.7% 65.6%
2011 31.2% 135.9% 41.5% 68.9%
2010 32.3% 137.8% 40.1% 65%
2009 37.7% 138.3% 41.1% 66%
2008 33.9% 123.8% 42.1% 61.5%
2007 30.6% 111.6% 41.2% 62%
2006 30.1% 114.2% 42.5% 64.5%
2005 28.6% 121.5% 42.5% 70.2%
2004 30.7% 116.9% 42% 70.4%
2003 31.1% 120.1% 45.6% 68.6%
2002 30.1% 115.4% 43.6% 65.1%
2001 27.8% 105.3% 44.4% 70%
2000 25.7% 89.5% 42.9% 64.4%
1999 27.9% 80.7% - 69.8%
1998 27.9% 75.6% - 66.4%
1997 27.6% 74.4% - 60.8%
1996 27.4% 70.2% - 51.5%
1995 22.1% 85.2% - 45.3%
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/malta | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Malta spent $10.3B, or 37% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 46.8% in Malta, ranking 62/185 and 113/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Malta
1x
Year Deficit/surplus, % of GDP
Jamaica Malta
2025 -3.77% -3.1%
2024 0.22% -3.51%
2023 0.04% -4.43%
2022 0.26% -5.33%
2021 0.84% -6.96%
2020 -2.87% -8.71%
2019 0.85% 0.72%
2018 1.1% 1.86%
2017 0.42% 3.4%
2016 -0.18% 1.1%
2015 -0.28% -0.84%
2014 -0.48% -1.49%
2013 0.12% -2.19%
2012 -3.97% -3.31%
2011 -6.24% -2.99%
2010 -6.17% -2.22%
2009 -10.8% -3.11%
2008 -7.32% -4.06%
2007 -3.7% -2.05%
2006 -4.74% -2.46%
2005 -3.22% -2.83%
2004 -4.56% -4.28%
2003 -5.42% -9.04%
2002 -6.55% -5.62%
2001 -4.77% -6.5%
2000 -0.78% -5.83%
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/malta | 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 Malta's deficit of $861M, or 3.1% of GDP.

Over the past 26 years, Jamaica recorded a fiscal deficit in 18 of those years, while Malta ran a deficit in 22 years. On average, Jamaica posted an annual deficit equal to 2.77% of GDP, compared to deficit of 3.22% of GDP for Malta.

Inflation comparison by year

Inflation
Jamaica

Malta
1x
Year Consumer prices inflation
Jamaica Malta
2025 4% 2.36%
2024 5.41% 1.65%
2023 6.47% 5.09%
2022 10.3% 6.15%
2021 5.86% 1.5%
2020 5.23% 0.64%
2019 3.91% 1.64%
2018 3.74% 1.16%
2017 4.38% 1.36%
2016 2.35% 0.64%
2015 3.69% 1.1%
2014 8.27% 0.31%
2013 9.34% 1.18%
2012 6.87% 2.38%
2011 7.56% 2.96%
2010 12.6% 1.52%
2009 9.59% 2.08%
2008 22% 4.26%
2007 9.24% 1.25%
2006 8.56% 2.77%
2005 15.1% 3.01%
2004 13.6% 2.79%
2003 10.1% 1.3%
2002 7.08% 2.19%
2001 6.8% 2.93%
2000 8.17% 2.37%
1999 5.95% 2.13%
1998 8.63% 2.39%
1997 9.66% 3.11%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 2.22% in Malta. In 2025, inflation was 4% in Jamaica and 2.36% in Malta.

Top exports between countries

Jamaica
Export category Export value
Malta
Export category Export value
Wood & paper products $274K
Chemicals & pharma $227K
Textiles & consumer goods $77K
Machinery & equipment $3K
Precious metals & jewellery $3K
Metals $1K

Balance of trade

Jamaica Malta
Current account balance
$679M
2024
$1.78B
2024
Current account balance ranking
53/190
2024
45/190
2024
Current account balance, % of GDP
+3.08%
2024
+7.1%
2024
Goods imports
$6.07B
2024
$7.56B
2024
Goods exports
$1.87B
2024
$4.58B
2024
Service imports
$3.46B
2024
$17.4B
2024
Service exports
$5.26B
2024
$25B
2024
Imports of goods and services, % of GDP
52.1%
2019
99.9%
2025
Exports of goods and services, % of GDP
38%
2019
119.1%
2025

Economic freedom indices

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

Jamaica Malta
Economic freedom 68.2 68.2
Economic freedom ranking 48/197 49/197
Property rights 66.8 85.5
Government integrity 49.4 54.3
Judicial effectiveness 75.6 80.2
Tax burden 76.3 68.5
Government spending 76 58.4
Fiscal health 92.2 63.2
Business freedom 68.5 83.2
Labor freedom 59.2 62.6
Monetary freedom 74.2 73.1
Trade freedom 70.4 79.4
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Jamaica
Malta
1x
Year Economic freedom index
Jamaica Malta
2026 68.2 68.2
2025 68.7 66.8
2024 68.1 64.5
2023 68.1 67.5
2022 67.4 71.5
2021 69 70.2
2020 68.5 69.5
2019 68.6 68.6
2018 69.1 68.5
2017 69.5 67.7
2016 67.5 66.7
2015 67.7 66.5
2014 66.7 66.4
2013 66.8 67.5
2012 65.1 67
2011 65.7 65.7
2010 65.5 67.2
2009 65.2 66.1
2008 65.7 66
2007 65.5 66.1
2006 66.4 67.3
2005 67 68.9
2004 66.7 63.3
2003 67 61.1
2002 61.7 62.2
2001 63.7 62.9
2000 65.5 58.3
1999 64.7 59.3
1998 67.1 61.2
1997 67.7 57.9
1996 66.7 55.8
1995 64.4 56.3

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Malta
Services, % of GDP
59.8%
2025
81.3%
2025
Industry, % of GDP
16.3%
2025
10.1%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
0.47%
2025
GNI, Atlas method
$22.1B
2025
$24B
2025
GNI per capita, PPP
$13,090
2025
$64,900
2025
Total reserves including gold
$6.3B
2025
$1.54B
2025
Total reserves ranking
92/177
2025
134/177
2025
Net foreign direct investment
-$304M
2024
-$6.13B
2024
Net inflows of foreign direct investment
$305M
2024
$42.6B
2024
Net outflows of foreign direct investment
$1.07M
2024
$36.5B
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
n/a
Poverty at national poverty lines
8.2%
2023
16.7%
2021
Gross capital formation, % of GDP
22.6%
2019
18.7%
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/malta | 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. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. 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.