Jamaica vs Nigeria: Economic Indicators Comparison

Nigeria with a GDP of $397.3B ranked the 32nd largest economy in the world, while Jamaica ranked 122nd with $15.7B. By GDP 5-years average growth and GDP per capita, Nigeria and Jamaica ranked 132nd vs 153rd and 149th vs 106th, respectively.

Gross Domestic Product & Income

StatJamaicaNigeria
GDP$15.7B$397.3B
GDP growth, 1 year1.4%1.9%
GDP growth, 5-years average1%2%
Population2.9M190.9M
GDP per capita$5.4k$2k
GDP per capita growth1.45%-0.67%
Purchasing Power Parity conversion factor73.98110.03
Price level ratio of PPP conversion factor GDP to market exchange rate0.570.34
GDP per capita, PPP adjusted$9.4k$6k
GNI, Atlas method$14.6B$384.8B
GNI per capita$5k$2k
GNI, PPP adjusted$26.1B$1.1T
GNI per capita, PPP adjusted$8.9k$5.7k

Financial system and Human development

StatJamaicaNigeria
Income Tax Rate25%24%
Corporate Tax Rate25%30%
Inflation, consumer prices3.7%12.1%
Inflation, GDP deflator4.8%10.2%
Unemployment9.5%6%
Economic Freedom Index68.557.2
Personal Freedom Index7.296.01
Human Freedom Index7.166.1
Property Rights Index62.138.1
Judical Effectiveness Index50.532.2
Business Freedom Index77.754.7
Fiscal Health Index80.264.1
Labor Freedom Index7484
Investment Freedom Index8045
Financial Freedom Index5040
Trade Freedom Index68.462.4
Monetary Freedom Index77.761.7
Government Spending Index74.896.2
Tax Burden Index8085.1
Government Integrity Index46.822.3
Corruption Perceptions Index4427
Life expectancy at birth, years74.354
Suicide mortality rate, per 100,000 people2.29.5
Mortality caused by road traffic injury, per 100,000 people13.621.4
Intentional homicides, per 100,000 people579.9
International tourism, number of arrivals2.5M5.3M

Government debt & reserves

StatJamaicaNigeria
Central government debt, % of GDP99.4%28.4%
External debt stocks, % of GNI108%12.4%
External debt stocks$16.3B$47B
Short-term debt, % of total reserves56.4%0%
Total debt service, % of exports and primary income20.4%8.3%
Adjusted net savings including particulate emission damage, % of GNI15.9%1.4%
Gross savings, % of GDP21.3%19.3%
Gross capital formation, % of GDP23.3%19.8%
Total reserves including gold$3.5B$42.8B
Foreign direct investment net inflows$774.6M$2B

Exports, imports and economic structure

StatJamaicaNigeria
Exports of goods and services, % of GDP38%15.5%
Imports of goods and services, % of GDP51.1%17.5%
Current account balance (balance of payments)-$287.6M$5.3B
Revenue excluding grants, % of GDP29.3%N/A
Grants excluding technical cooperation, BoP$96.8M$2B
Personal remittances received$2.5B$24.3B
Industry including construction value added, % of GDP20.3%25.7%
Agriculture, forestry and fishing value added, % of GDP6.6%21.2%
Charges for the use of intellectual property, payments BoP$50.8M$252.8M
Charges for the use of intellectual property, receipts BoP$5.3M$7.8M
Expense, % of GDP26.7%N/A
Government Expenditure, % of GDP29%11.2%

Compare with countries close by GDP per capita

Jamaica vs

CountryGDP
per capita
Population
Libya
$7.2k
6.68M
Turkmenistan
$7k
5.85M
Peru
$6.9k
29.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M

Nigeria vs

CountryGDP
per capita
Population
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M
Egypt
$2.5k
94.8M
Laos
$2.5k
6.86M
Honduras
$2.5k
9.27M
Ghana
$2.2k
26.9M
Congo
$2.1k
5.26M
Zimbabwe
$2.1k
16.5M
Solomon Islands
$2.1k
611k
East Timor
$2k
1.3M
Syria
$2k
18.3M
Nicaragua
$2k
6.22M
India
$2k
1.33B
Sao Tome and Principe
$2k
204k
Ivory Coast
$1.7k
24.3M
Kenya
$1.7k
48.5M
North Korea
$1.7k
25.5M
Bangladesh
$1.7k
165M
Kiribati
$1.6k
116k
Zambia
$1.5k
17.1M
Cameroon
$1.5k
24.1M
Uzbekistan
$1.5k
32.4M
Senegal
$1.5k
15.9M
Cambodia
$1.5k
16M
Pakistan
$1.5k
197M
Comoros
$1.4k
824k
Myanmar
$1.3k
53.4M