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Economy of Jamaica vs Myanmar compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $74.1B for Myanmar, ranking 124/197 and 85/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $44B (59.3% of GDP) in Myanmar.

Jamaica vs Myanmar GDP by year

Jamaica
Myanmar
1x
Year GDP, current $
Jamaica Myanmar
2024 $22,014,397,090 $74,068,349,524
2023 $21,418,804,320 $66,757,619,000
2022 $18,813,516,805 $62,253,049,903
2021 $15,963,885,376 $66,345,291,149
2020 $15,000,214,216 $79,006,113,670
2019 $17,026,269,263 $75,065,106,243
2018 $16,855,447,986 $67,860,515,993
2017 $15,783,583,237 $66,053,040,475
2016 $14,898,999,754 $63,298,361,984
2015 $14,963,589,916 $59,607,290,408
2014 $13,899,217,680 $65,531,374,210
2013 $14,264,205,153 $60,269,732,855
2012 $14,807,086,556 $59,937,796,648
2011 $14,444,661,522 $59,977,326,086
2010 $13,220,549,908 $49,540,813,342
2009 $12,120,458,115 $36,906,181,381
2008 $13,709,401,520 $31,862,554,102
2007 $12,799,600,047 $20,182,477,481
2006 $11,930,179,090 $14,502,553,710
2005 $11,243,865,778 $11,986,972,419
2004 $10,174,664,854 $10,567,354,056
2003 $9,430,234,811 $10,467,109,978
2002 $9,719,009,495 $6,777,632,512
2001 $9,194,727,831 $6,477,790,688
2000 $9,005,064,475 $8,905,066,164
1999 $8,887,057,997 $8,486,832,801
1998 $8,787,195,622 $6,459,461,639
1997 $8,400,041,724 $4,722,288,496
1996 $7,393,891,921 $6,123,556,717
1995 $6,577,520,643 $5,289,174,943
1994 $5,452,558,947 $4,432,257,174
1993 $5,440,075,676 $3,163,020,035
1992 $3,535,460,090 $2,411,552,289
1991 $4,106,207,649 $2,069,832,687
1990 $4,592,208,087 $2,115,193,513
1989 $4,404,937,853 $2,013,448,229
1988 $3,828,342,820 $1,541,088,312
1987 $3,287,007,322 $1,562,448,077
1986 $2,754,549,582 $1,582,873,750
1985 $2,100,239,019 $1,478,908,173
1984 $2,373,564,549 $1,304,063,253
1983 $3,619,262,277 $1,381,573,615
1982 $3,293,496,312 $1,481,165,468
1981 $2,979,027,966 $1,111,000,765
1980 $2,679,379,372 $1,038,225,167
1979 $2,425,064,229 $952,265,043
1978 $2,644,527,822 $935,408,775
1977 $3,249,733,140 $873,579,932
1976 $2,966,042,856 $1,204,699,849
1975 $2,860,442,750 $1,061,107,354
1974 $2,375,122,375 $1,225,589,878
1973 $1,905,917,553 $719,754,655
1972 $1,875,146,587 $662,213,083
1971 $1,539,861,816 $587,448,405
1970 $1,404,720,442 $563,555,631
1969 $1,191,239,047 $571,854,215
1968 $1,083,839,133 $559,956,130
1967 $1,148,014,311 $420,359,036
1966 $1,096,759,561 $293,103,479
1965 $972,159,611 $367,053,117
1964 $897,949,001 $411,419,906
1963 $826,706,669 $598,998,419
1962 $777,727,689 $634,528,872
1961 $748,043,501 $605,581,577
1960 $699,064,380 $545,098,448

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

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

GDP per capita in Jamaica vs Myanmar by year

Jamaica
GDP per capita

GDP per capita, PPP
Myanmar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Myanmar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 $1,359 $5,997
2023 $7,542 $12,651 $1,233 $5,953
2022 $6,626 $11,888 $1,158 $5,732
2021 $5,626 $10,431 $1,243 $5,178
2020 $5,299 $9,764 $1,490 $5,741
2019 $6,031 $10,845 $1,426 $6,101
2018 $5,977 $10,753 $1,298 $5,581
2017 $5,605 $10,466 $1,273 $4,706
2016 $5,302 $9,948 $1,229 $4,460
2015 $5,339 $9,476 $1,167 $4,459
2014 $4,975 $9,210 $1,293 $4,376
2013 $5,124 $9,101 $1,199 $4,144
2012 $5,341 $8,831 $1,203 $3,845
2011 $5,233 $8,809 $1,214 $3,579
2010 $4,810 $8,521 $1,011 $3,348
2009 $4,428 $8,580 $758 $3,040
2008 $5,030 $8,952 $658 $2,748
2007 $4,716 $8,893 $419 $2,459
2006 $4,417 $8,577 $303 $2,153
2005 $4,184 $8,127 $252.7 $1,860
2004 $3,808 $7,854 $224.5 $1,601
2003 $3,550 $7,593 $224.3 $1,385
2002 $3,681 $7,226 $146.6 $1,204
2001 $3,504 $7,019 $141.5 $1,069
2000 $3,453 $6,816 $196.6 $949
1999 $3,432 $6,653 $189.5 $825
1998 $3,419 $6,543 $146 $742
1997 $3,297 $6,682 $108 $702
1996 $2,929 $6,706 $141.9 $661
1995 $2,631 $6,657 $124.1 $618
1994 $2,203 $6,435 $105.4 $573
1993 $2,221 $6,279 $76.2 $529
1992 $1,458 $5,664 $58.9 $494
1991 $1,710 $5,485 $51.2 $447
1990 $1,930 $5,106 $53.1 $441
1989 $1,865 - $51.3 -
1988 $1,632 - $39.9 -
1987 $1,411 - $41.1 -
1986 $1,191 - $42.4 -
1985 $917 - $40.4 -
1984 $1,048 - $36.3 -
1983 $1,619 - $39.3 -
1982 $1,494 - $43 -
1981 $1,370 - $32.8 -
1980 $1,249 - $31.2 -
1979 $1,144 - $29.2 -
1978 $1,262 - $29.3 -
1977 $1,569 - $27.9 -
1976 $1,450 - $39.2 -
1975 $1,417 - $35.2 -
1974 $1,193 - $41.4 -
1973 $972 - $24.8 -
1972 $971 - $23.3 -
1971 $809 - $21.1 -
1970 $748 - $20.7 -
1969 $642 - $21.5 -
1968 $591 - $21.5 -
1967 $633 - $16.5 -
1966 $612 - $11.8 -
1965 $549 - $15.1 -
1964 $514 - $17.3 -
1963 $480 - $25.8 -
1962 $458 - $27.9 -
1961 $447 - $27.3 -
1960 $424 - $25.1 -

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

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

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $1,359 in Myanmar, ranking 165/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Myanmar ranks 153rd at $5,997.

Economic indicators

Jamaica Myanmar
Gross domestic product
$22B
2024
$74.1B
2024
GDP rank
124/197
2024
85/197
2024
GDP growth
-0.54%
2023-2024
-0.97%
2023-2024
GDP per capita
$7,754
2024
$1,359
2024
GDP per capita rank
95/197
2024
165/197
2024
GDP per capita, PPP
$12,890
2024
$5,997
2024
GDP per capita PPP rank
121/197
2024
153/197
2024
Government debt
$14B
2024
$44B
2024
Debt-to-GDP ratio
63.4%
2024
59.3%
2024
Government debt per person
$4,917
2024
$806
2024
Government debt per person rank
79/185
2024
150/185
2024
Average annual personal income after taxes
$6,905
2026
$1,646
2026
Market capitalization of domestic companies
$12.4B
2024
n/a
Income share by richest 10%
29.6%
2021
25.5%
2017
Income share by poorest 10%
2.2%
2021
3.8%
2017
Government expenditure, % of GDP
30.5%
2024
20.7%
2024
Consumer prices inflation
5.41%
2023-2024
8.83%
2018-2019
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
1.48%
2020
Population
2834980
55292116

Spending and national debt comparison by year

Jamaica
Spending

Debt
Myanmar
Spending

Debt
1x
Year % of GDP
Jamaica Myanmar
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 20.7% 59.3%
2023 28% 67.3% 21.4% 59.1%
2022 28.4% 73.5% 21.3% 56.1%
2021 29% 90.9% 20.9% 63.4%
2020 29.8% 100.1% 21.3% 49.1%
2019 27.8% 88.6% 20.5% 37.6%
2018 27.8% 89.2% 18.7% 39.9%
2017 27.3% 96.7% 19.7% 41.9%
2016 27% 109.1% 21.3% 35.7%
2015 26.3% 117.6% 23.7% 36.6%
2014 26.5% 136.7% 24.7% 34.5%
2013 26.9% 138.1% 23.9% 44.8%
2012 29.6% 143% 20% 48%
2011 31.7% 138.1% 15.6% 49.9%
2010 32.9% 140.1% 15.8% 54.4%
2009 38.6% 141.5% 14.4% 56.4%
2008 34.4% 125.6% 14.4% 59.8%
2007 31.6% 115.3% 15.7% 77.4%
2006 31.2% 118% 15.6% 103.1%
2005 29.3% 124.5% 14.6% 119%
2004 31.5% 120.1% 14.6% 126.6%
2003 32.5% 125.5% 14.3% 146%
2002 31.1% 119.1% 15.3% 190.6%
2001 28.5% 107.9% 19.1% 262%
2000 26.2% 91.3% 21.4% 164.5%
1999 28.9% 83.5% 22.8% 150.7%
1998 28.3% 75.6% 25.2% 208.6%
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/myanmar | CC BY

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Myanmar spent $15.3B, or 20.7% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 59.3% in Myanmar, ranking 73/185 and 81/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Myanmar
1x
Year Deficit/surplus, % of GDP
Jamaica Myanmar
2024 0.22% -5.06%
2023 0.04% -5.18%
2022 0.27% -2.82%
2021 0.89% -2.47%
2020 -2.83% -6.5%
2019 0.85% -4.7%
2018 1.12% -2.77%
2017 0.43% -3.42%
2016 -0.19% -2.53%
2015 -0.28% -4.33%
2014 -0.49% -1.06%
2013 0.12% -1.53%
2012 -4.05% -2.7%
2011 -6.34% -4.82%
2010 -6.27% -5.4%
2009 -11.1% -3.55%
2008 -7.43% -2.73%
2007 -3.82% -3.52%
2006 -4.9% -3.42%
2005 -3.3% -3.49%
2004 -4.68% -4.62%
2003 -5.67% -4.24%
2002 -6.77% -4.01%
2001 -4.89% -6.34%
2000 -0.8% -6.03%
1999 -3.53% -4.46%
1998 -5.82% -4.89%
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/myanmar | 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 Myanmar's deficit of $3.75B, or 5.06% of GDP.

Over the past 27 years, Jamaica recorded a fiscal deficit in 19 of those years, while Myanmar ran a deficit in 27 years. On average, Jamaica posted an annual deficit equal to 2.93% of GDP, compared to deficit of 3.95% of GDP for Myanmar.

Inflation comparison by year

Inflation
Jamaica

Myanmar
1x
Year Consumer prices inflation
Jamaica Myanmar
2024 5.41% -
2023 6.47% -
2022 10.3% -
2021 5.86% -
2020 5.23% -
2019 3.91% 8.83%
2018 3.74% 6.87%
2017 4.38% 4.57%
2016 2.35% 6.93%
2015 3.69% 9.45%
2014 8.27% 4.95%
2013 9.34% 5.64%
2012 6.87% 1.47%
2011 7.56% 5.02%
2010 12.6% 7.72%
2009 9.59% 1.47%
2008 22% 26.8%
2007 9.24% 35%
2006 8.56% 20%
2005 15.1% 9.37%
2004 13.6% 4.53%
2003 10.1% 36.6%
2002 7.08% 57.1%
2001 6.8% 21.1%
2000 8.17% -0.11%
1999 5.95% 18.4%
1998 8.63% 51.5%
1997 9.66% 29.7%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 23 years, Jamaica has recorded an average annual inflation rate of 8.57%, compared with 16.2% in Myanmar. In 2019, inflation was 5.41% in Jamaica and 8.83% in Myanmar.

Balance of trade

Jamaica Myanmar
Current account balance
$679M
2024
$67.7M
2019
Current account balance ranking
56/190
2024
71/190
2019
Current account balance, % of GDP
+3.08%
2024
+0.09%
2019
Goods imports
$6.07B
2024
$13.7B
2019
Goods exports
$1.87B
2024
$10.8B
2019
Service imports
$3.46B
2024
$3.66B
2019
Service exports
$5.26B
2024
$6.68B
2019
Imports of goods and services, % of GDP
52.1%
2019
n/a
Exports of goods and services, % of GDP
38%
2019
24.3%
2025

Economic freedom indices

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

Jamaica Myanmar
Economic freedom 68.2 44.5
Economic freedom ranking 48/197 180/197
Property rights 66.8 5.7
Government integrity 49.4 18.1
Judicial effectiveness 75.6 3.9
Tax burden 76.3 88.6
Government spending 76 86.6
Fiscal health 92.2 62.7
Business freedom 68.5 37.9
Labor freedom 59.2 53.2
Monetary freedom 74.2 57.5
Trade freedom 70.4 69.4
Investment freedom 60 30
Financial freedom 50 20

Economic freedom comparison by year

Jamaica
Myanmar
1x
Year Economic freedom index
Jamaica Myanmar
2026 68.2 44.5
2025 68.7 43.7
2024 68.1 42.2
2023 68.1 46.5
2022 67.4 49.6
2021 69 55.2
2020 68.5 54
2019 68.6 53.6
2018 69.1 53.9
2017 69.5 52.5
2016 67.5 48.7
2015 67.7 46.9
2014 66.7 46.5
2013 66.8 39.2
2012 65.1 38.7
2011 65.7 37.8
2010 65.5 36.7
2009 65.2 37.7
2008 65.7 39.5
2007 65.5 41
2006 66.4 40
2005 67 40.5
2004 66.7 43.6
2003 67 44.9
2002 61.7 45.5
2001 63.7 46.1
2000 65.5 47.9
1999 64.7 46.4
1998 67.1 45.7
1997 67.7 45.4
1996 66.7 45.1
1995 64.4 -

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 44.5 for Myanmar, ranking 180/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Myanmar
Services, % of GDP
60%
2024
41.4%
2024
Industry, % of GDP
16.5%
2024
37.8%
2024
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
20.8%
2024
GNI, Atlas method
$20.5B
2024
$65.9B
2024
GNI per capita, PPP
$12,690
2024
$5,890
2024
Total reserves including gold
$5.63B
2024
$9.34B
2023
Total reserves ranking
93/177
2024
81/177
2023
Net foreign direct investment
-$304M
2024
-$1.74B
2019
Net inflows of foreign direct investment
$305M
2024
$1.1B
2024
Net outflows of foreign direct investment
$1.07M
2024
$0
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
1.31%
2024
Poverty at national poverty lines
8.2%
2023
24.8%
2017
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/myanmar | 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 (1990–1998, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.