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Economy of Jamaica vs Nepal compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $42.9B for Nepal, ranking 124/197 and 101/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $20.7B (48.3% of GDP) in Nepal.

Jamaica vs Nepal GDP by year

Jamaica
Nepal
1x
Year GDP, current $
Jamaica Nepal
2024 $22,014,397,090 $42,914,268,287
2023 $21,418,804,320 $41,047,772,331
2022 $18,813,516,805 $41,182,939,601
2021 $15,963,885,376 $36,924,841,394
2020 $15,000,214,216 $33,433,659,301
2019 $17,026,269,263 $34,186,180,699
2018 $16,855,447,986 $33,111,525,237
2017 $15,783,583,237 $28,971,588,940
2016 $14,898,999,754 $24,524,109,484
2015 $14,963,589,916 $24,360,801,287
2014 $13,899,217,680 $22,731,612,922
2013 $14,264,205,153 $22,162,204,925
2012 $14,807,086,556 $21,703,100,877
2011 $14,444,661,522 $21,573,872,421
2010 $13,220,549,908 $16,002,656,434
2009 $12,120,458,115 $12,854,985,464
2008 $13,709,401,520 $12,545,438,605
2007 $12,799,600,047 $10,325,618,017
2006 $11,930,179,090 $9,043,715,356
2005 $11,243,865,778 $8,130,258,378
2004 $10,174,664,854 $7,273,938,315
2003 $9,430,234,811 $6,330,473,097
2002 $9,719,009,495 $6,050,875,807
2001 $9,194,727,831 $6,007,055,042
2000 $9,005,064,475 $5,494,252,208
1999 $8,887,057,997 $5,033,642,384
1998 $8,787,195,622 $4,856,255,044
1997 $8,400,041,724 $4,918,691,917
1996 $7,393,891,921 $4,521,580,381
1995 $6,577,520,643 $4,401,104,418
1994 $5,452,558,947 $4,066,775,510
1993 $5,440,075,676 $3,660,041,667
1992 $3,535,460,090 $3,401,211,581
1991 $4,106,207,649 $3,921,476,085
1990 $4,592,208,087 $3,627,560,239
1989 $4,404,937,853 $3,525,225,787
1988 $3,828,342,820 $3,487,009,748
1987 $3,287,007,322 $2,957,255,380
1986 $2,754,549,582 $2,850,782,044
1985 $2,100,239,019 $2,619,913,956
1984 $2,373,564,549 $2,581,207,388
1983 $3,619,262,277 $2,447,174,803
1982 $3,293,496,312 $2,395,423,742
1981 $2,979,027,966 $2,275,583,317
1980 $2,679,379,372 $1,945,916,583
1979 $2,425,064,229 $1,851,250,008
1978 $2,644,527,822 $1,604,162,497
1977 $3,249,733,140 $1,382,400,000
1976 $2,966,042,856 $1,452,788,985
1975 $2,860,442,750 $1,575,789,254
1974 $2,375,122,375 $1,217,953,547
1973 $1,905,917,553 $972,101,725
1972 $1,875,146,587 $1,024,098,400
1971 $1,539,861,816 $882,765,472
1970 $1,404,720,442 $865,975,309
1969 $1,191,239,047 $788,641,965
1968 $1,083,839,133 $772,231,387
1967 $1,148,014,311 $841,974,025
1966 $1,096,759,561 $906,811,944
1965 $972,159,611 $735,267,082
1964 $897,949,001 $496,098,775
1963 $826,706,669 $496,947,904
1962 $777,727,689 $574,091,101
1961 $748,043,501 $531,959,562
1960 $699,064,380 $508,334,414

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

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

GDP per capita in Jamaica vs Nepal by year

Jamaica
GDP per capita

GDP per capita, PPP
Nepal
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Nepal
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 $1,447 $5,737
2023 $7,542 $12,651 $1,382 $5,395
2022 $6,626 $11,888 $1,386 $5,103
2021 $5,626 $10,431 $1,253 $4,546
2020 $5,299 $9,764 $1,154 $4,236
2019 $6,031 $10,845 $1,203 $4,261
2018 $5,977 $10,753 $1,179 $3,956
2017 $5,605 $10,466 $1,034 $3,605
2016 $5,302 $9,948 $877 $2,976
2015 $5,339 $9,476 $876 $2,957
2014 $4,975 $9,210 $821 $2,901
2013 $5,124 $9,101 $803 $2,658
2012 $5,341 $8,831 $788 $2,466
2011 $5,233 $8,809 $786 $2,248
2010 $4,810 $8,521 $585 $2,139
2009 $4,428 $8,580 $473 $2,029
2008 $5,030 $8,952 $465 $1,942
2007 $4,716 $8,893 $385 $1,809
2006 $4,417 $8,577 $340 $1,718
2005 $4,184 $8,127 $309 $1,628
2004 $3,808 $7,854 $279.6 $1,542
2003 $3,550 $7,593 $246.4 $1,453
2002 $3,681 $7,226 $238.9 $1,390
2001 $3,504 $7,019 $240.8 $1,388
2000 $3,453 $6,816 $223.8 $1,317
1999 $3,432 $6,653 $208.6 $1,234
1998 $3,419 $6,543 $205.1 $1,187
1997 $3,297 $6,682 $211.8 $1,162
1996 $2,929 $6,706 $198.8 $1,110
1995 $2,631 $6,657 $197.8 $1,058
1994 $2,203 $6,435 $187.3 $1,026
1993 $2,221 $6,279 $172.8 $952
1992 $1,458 $5,664 $165 $920
1991 $1,710 $5,485 $195.7 $889
1990 $1,930 $5,106 $185.8 $830
1989 $1,865 - $185 -
1988 $1,632 - $187.1 -
1987 $1,411 - $162 -
1986 $1,191 - $159.5 -
1985 $917 - $149.9 -
1984 $1,048 - $151.1 -
1983 $1,619 - $146.6 -
1982 $1,494 - $147 -
1981 $1,370 - $142.9 -
1980 $1,249 - $125.1 -
1979 $1,144 - $121.9 -
1978 $1,262 - $108.1 -
1977 $1,569 - $95.3 -
1976 $1,450 - $102.5 -
1975 $1,417 - $113.6 -
1974 $1,193 - $89.8 -
1973 $972 - $73.2 -
1972 $971 - $78.8 -
1971 $809 - $69.5 -
1970 $748 - $69.6 -
1969 $642 - $64.8 -
1968 $591 - $64.9 -
1967 $633 - $72.3 -
1966 $612 - $79.5 -
1965 $549 - $65.8 -
1964 $514 - $45.3 -
1963 $480 - $46.3 -
1962 $458 - $54.6 -
1961 $447 - $51.6 -
1960 $424 - $50.2 -

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

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

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $1,447 in Nepal, ranking 164/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Nepal ranks 155th at $5,737.

Economic indicators

Jamaica Nepal
Gross domestic product
$22B
2024
$42.9B
2024
GDP rank
124/197
2024
101/197
2024
GDP growth
-0.54%
2023-2024
3.67%
2023-2024
GDP per capita
$7,754
2024
$1,447
2024
GDP per capita rank
95/197
2024
164/197
2024
GDP per capita, PPP
$12,890
2024
$5,737
2024
GDP per capita PPP rank
121/197
2024
155/197
2024
Government debt
$14B
2024
$20.7B
2024
Debt-to-GDP ratio
63.4%
2024
48.3%
2024
Government debt per person
$4,917
2024
$700
2024
Government debt per person rank
79/185
2024
154/185
2024
Average annual personal income after taxes
$6,905
2026
$2,170
2026
Market capitalization of domestic companies
$12.4B
2024
n/a
Number of billionaires n/a
2
2025
Income share by richest 10%
29.6%
2021
24.2%
2022
Income share by poorest 10%
2.2%
2021
3.7%
2022
Government expenditure, % of GDP
30.5%
2024
22.1%
2024
Consumer prices inflation
5.41%
2023-2024
4.69%
2023-2024
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
10.7%
2017
Population
2834980
29596762

Spending and national debt comparison by year

Jamaica
Spending

Debt
Nepal
Spending

Debt
1x
Year % of GDP
Jamaica Nepal
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 22.1% 48.3%
2023 28% 67.3% 25.1% 47%
2022 28.4% 73.5% 26.1% 42.7%
2021 29% 90.9% 27.2% 43.3%
2020 29.8% 100.1% 28.5% 43.3%
2019 27.8% 88.6% 27.1% 34%
2018 27.8% 89.2% 28% 31.1%
2017 27.3% 96.7% 23.6% 25%
2016 27% 109.1% 19% 25%
2015 26.3% 117.6% 17.7% 25.7%
2014 26.5% 136.7% 16.6% 27.6%
2013 26.9% 138.1% 15.5% 31.9%
2012 29.6% 143% 16.8% 34.5%
2011 31.7% 138.1% 16.3% 32.4%
2010 32.9% 140.1% 16.5% 35.4%
2009 38.6% 141.5% 17% 39.5%
2008 34.4% 125.6% 13.4% 36.8%
2007 31.6% 115.3% 13.1% 37.9%
2006 31.2% 118% 11.2% 42.9%
2005 29.3% 124.5% 12% 45.1%
2004 31.5% 120.1% 11.8% 51.3%
2003 32.5% 125.5% 12% 53%
2002 31.1% 119.1% 13% 51.8%
2001 28.5% 107.9% 12.9% 50.8%
2000 26.2% 91.3% 11.4% 50.8%
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/nepal | CC BY

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Nepal spent $9.5B, or 22.1% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 48.3% in Nepal, ranking 73/185 and 112/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Nepal
1x
Year Deficit/surplus, % of GDP
Jamaica Nepal
2024 0.22% -2.76%
2023 0.04% -5.81%
2022 0.27% -3.12%
2021 0.89% -3.98%
2020 -2.83% -7.47%
2019 0.85% -4.27%
2018 1.12% -5.83%
2017 0.43% -2.69%
2016 -0.19% 1.2%
2015 -0.28% 0.46%
2014 -0.49% 1.36%
2013 0.12% 1.57%
2012 -4.05% -1.18%
2011 -6.34% -0.72%
2010 -6.27% -0.67%
2009 -11.1% -2.24%
2008 -7.43% -0.29%
2007 -3.82% -0.67%
2006 -4.9% 0.24%
2005 -3.3% 0.24%
2004 -4.68% -0.14%
2003 -5.67% -0.34%
2002 -6.77% -2.46%
2001 -4.89% -2.35%
2000 -0.8% -1.48%
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/nepal | 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 Nepal's deficit of $1.19B, or 2.76% of GDP.

Over the past 25 years, Jamaica recorded a fiscal deficit in 17 of those years, while Nepal ran a deficit in 19 years. On average, Jamaica posted an annual deficit equal to 2.8% of GDP, compared to deficit of 1.74% of GDP for Nepal.

Inflation comparison by year

Inflation
Jamaica

Nepal
1x
Year Consumer prices inflation
Jamaica Nepal
2024 5.41% 4.69%
2023 6.47% 7.12%
2022 10.3% 7.67%
2021 5.86% 4.13%
2020 5.23% 5.06%
2019 3.91% 5.57%
2018 3.74% 4.41%
2017 4.38% 2.78%
2016 2.35% 8.79%
2015 3.69% 7.87%
2014 8.27% 8.36%
2013 9.34% 9.04%
2012 6.87% 9.46%
2011 7.56% 9.23%
2010 12.6% 9.33%
2009 9.59% 11.1%
2008 22% 9.91%
2007 9.24% 2.27%
2006 8.56% 6.92%
2005 15.1% 6.84%
2004 13.6% 2.84%
2003 10.1% 5.71%
2002 7.08% 3.03%
2001 6.8% 2.69%
2000 8.17% 2.48%
1999 5.95% 7.45%
1998 8.63% 11.2%
1997 9.66% 4.01%

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

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

Over the past 28 years, Jamaica has recorded an average annual inflation rate of 8.23%, compared with 6.43% in Nepal. In 2024, inflation was 5.41% in Jamaica and 4.69% in Nepal.

Top exports between countries

Jamaica
Export category Export value
Nepal
Export category Export value
Textiles & consumer goods $8K

Balance of trade

Jamaica Nepal
Current account balance
$679M
2024
$1.68B
2024
Current account balance ranking
56/190
2024
50/190
2024
Current account balance, % of GDP
+3.08%
2024
+3.91%
2024
Goods imports
$6.07B
2024
$12.1B
2024
Goods exports
$1.87B
2024
$1.54B
2024
Service imports
$3.46B
2024
$2.27B
2024
Service exports
$5.26B
2024
$1.9B
2024
Imports of goods and services, % of GDP
52.1%
2019
32.9%
2024
Exports of goods and services, % of GDP
38%
2019
7.62%
2024

Economic freedom indices

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

Jamaica Nepal
Economic freedom 68.2 52.9
Economic freedom ranking 48/197 144/197
Property rights 66.8 38.8
Government integrity 49.4 38.9
Judicial effectiveness 75.6 42.9
Tax burden 76.3 84.3
Government spending 76 82.1
Fiscal health 92.2 71
Business freedom 68.5 60.8
Labor freedom 59.2 48.2
Monetary freedom 74.2 69.4
Trade freedom 70.4 58.6
Investment freedom 60 10
Financial freedom 50 30

Economic freedom comparison by year

Jamaica
Nepal
1x
Year Economic freedom index
Jamaica Nepal
2026 68.2 52.9
2025 68.7 52.5
2024 68.1 52.1
2023 68.1 51.4
2022 67.4 49.7
2021 69 50.7
2020 68.5 54.2
2019 68.6 53.8
2018 69.1 54.1
2017 69.5 55.1
2016 67.5 50.9
2015 67.7 51.3
2014 66.7 50.1
2013 66.8 50.4
2012 65.1 50.2
2011 65.7 50.1
2010 65.5 52.7
2009 65.2 53.2
2008 65.7 54.1
2007 65.5 54.4
2006 66.4 53.7
2005 67 51.4
2004 66.7 51.2
2003 67 51.5
2002 61.7 52.3
2001 63.7 51.6
2000 65.5 51.3
1999 64.7 53.1
1998 67.1 53.5
1997 67.7 53.6
1996 66.7 50.3
1995 64.4 -

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 52.9 for Nepal, ranking 144/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Nepal
Services, % of GDP
60%
2024
55.2%
2024
Industry, % of GDP
16.5%
2024
11.4%
2024
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
21.9%
2024
GNI, Atlas method
$20.5B
2024
$43.7B
2024
GNI per capita, PPP
$12,690
2024
$5,830
2024
Total reserves including gold
$5.63B
2024
$12.5B
2023
Total reserves ranking
93/177
2024
74/177
2023
Net foreign direct investment
-$304M
2024
-$56.9M
2024
Net inflows of foreign direct investment
$305M
2024
$56.9M
2024
Net outflows of foreign direct investment
$1.07M
2024
$0
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
1.23%
2024
Poverty at national poverty lines
8.2%
2023
20.3%
2022
Gross capital formation, % of GDP
22.6%
2019
30.4%
2024

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/nepal | 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)
  8. TradeMap (2022, 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.