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Economy of Jamaica vs Qatar compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $216B for Qatar, ranking 125/197 and 56/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $89.2B (41.4% of GDP) in Qatar.

Jamaica vs Qatar GDP by year

Jamaica
Qatar
1x
Year GDP, current $
Jamaica Qatar
2025 $22,704,903,218 $215,559,615,385
2024 $22,014,429,051 $216,294,505,495
2023 $21,418,797,833 $213,002,809,341
2022 $18,813,516,805 $235,709,325,714
2021 $15,963,885,376 $179,732,009,560
2020 $15,000,214,216 $144,411,363,352
2019 $17,026,269,263 $176,371,267,692
2018 $16,855,447,986 $183,334,953,819
2017 $15,783,583,237 $161,099,122,225
2016 $14,898,999,754 $151,732,181,868
2015 $14,963,589,916 $161,739,955,577
2014 $13,899,217,680 $206,224,598,571
2013 $14,264,205,153 $198,727,642,967
2012 $14,807,086,556 $186,833,502,363
2011 $14,444,661,522 $167,775,274,725
2010 $13,220,549,908 $125,122,252,747
2009 $12,120,458,115 $97,798,351,648
2008 $13,709,401,520 $115,269,780,220
2007 $12,799,600,047 $79,711,813,187
2006 $11,930,179,090 $60,882,142,857
2005 $11,243,865,778 $44,530,494,505
2004 $10,174,664,854 $31,734,065,934
2003 $9,430,234,811 $23,533,791,209
2002 $9,719,009,495 $19,363,736,264
2001 $9,194,727,831 $17,538,461,538
2000 $9,005,064,475 $17,759,890,110
1999 $8,887,057,997 $12,393,131,868
1998 $8,787,195,622 $10,255,494,505
1997 $8,400,041,724 $11,297,802,198
1996 $7,393,891,921 $9,059,340,659
1995 $6,577,520,643 $8,137,912,088
1994 $5,452,558,947 $7,374,450,549
1993 $5,440,075,676 $7,156,593,407
1992 $3,535,460,090 $7,646,153,846
1991 $4,106,207,649 $6,883,516,484
1990 $4,592,208,087 $7,360,439,560
1989 $4,404,937,853 $6,487,912,088
1988 $3,828,342,820 $6,038,186,813
1987 $3,287,007,322 $5,446,428,571
1986 $2,754,549,582 $5,053,021,978
1985 $2,100,239,019 $6,153,296,703
1984 $2,373,564,549 $6,870,329,670
1983 $3,619,262,277 $6,484,890,110
1982 $3,293,496,312 $7,611,263,736
1981 $2,979,027,966 $8,672,527,473
1980 $2,679,379,372 $7,837,915,956
1979 $2,425,064,229 $5,632,962,997
1978 $2,644,527,822 $4,052,000,413
1977 $3,249,733,140 $3,617,564,638
1976 $2,966,042,856 $3,284,273,987
1975 $2,860,442,750 $2,512,773,166
1974 $2,375,122,375 $2,401,403,227
1973 $1,905,917,553 $793,885,560
1972 $1,875,146,587 $510,262,500
1971 $1,539,861,816 $387,703,106
1970 $1,404,720,442 $301,791,302
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/qatar | CC BY

GDP per capita in Jamaica vs Qatar by year

Jamaica
GDP per capita

GDP per capita, PPP
Qatar
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Qatar
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $72,525 -
2024 $7,754 $12,890 $75,685 $126,046
2023 $7,542 $12,651 $80,196 $129,368
2022 $6,626 $11,888 $88,701 $122,921
2021 $5,626 $10,431 $71,752 $116,833
2020 $5,299 $9,764 $51,684 $82,149
2019 $6,031 $10,845 $66,841 $107,503
2018 $5,977 $10,753 $71,040 $110,033
2017 $5,605 $10,466 $63,280 $99,358
2016 $5,302 $9,948 $61,254 $89,935
2015 $5,339 $9,476 $68,985 $102,546
2014 $4,975 $9,210 $95,841 $148,389
2013 $5,124 $9,101 $103,697 $169,203
2012 $5,341 $8,831 $108,470 $180,939
2011 $5,233 $8,809 $103,262 $174,620
2010 $4,810 $8,521 $77,387 $151,646
2009 $4,428 $8,580 $60,786 $125,898
2008 $5,030 $8,952 $80,781 $126,015
2007 $4,716 $8,893 $65,954 $124,056
2006 $4,417 $8,577 $62,582 $127,181
2005 $4,184 $8,127 $53,950 $115,250
2004 $3,808 $7,854 $41,036 $110,958
2003 $3,550 $7,593 $31,602 $94,120
2002 $3,681 $7,226 $27,227 $93,177
2001 $3,504 $7,019 $25,871 $89,805
2000 $3,453 $6,816 $27,535 $88,849
1999 $3,432 $6,653 $20,234 $84,690
1998 $3,419 $6,543 $17,665 $84,486
1997 $3,297 $6,682 $20,523 $79,219
1996 $2,929 $6,706 $17,125 $62,331
1995 $2,631 $6,657 $15,823 $60,321
1994 $2,203 $6,435 $14,765 $59,415
1993 $2,221 $6,279 $14,770 $59,125
1992 $1,458 $5,664 $16,280 $60,387
1991 $1,710 $5,485 $15,133 $54,759
1990 $1,930 $5,106 $16,722 $55,659
1989 $1,865 - $15,243 -
1988 $1,632 - $14,682 -
1987 $1,411 - $13,719 -
1986 $1,191 - $13,213 -
1985 $917 - $16,815 -
1984 $1,048 - $19,749 -
1983 $1,619 - $19,669 -
1982 $1,494 - $24,431 -
1981 $1,370 - $29,543 -
1980 $1,249 - $28,407 -
1979 $1,144 - $21,777 -
1978 $1,262 - $16,757 -
1977 $1,569 - $16,058 -
1976 $1,450 - $15,710 -
1975 $1,417 - $13,014 -
1974 $1,193 - $13,540 -
1973 $972 - $4,905 -
1972 $971 - $3,483 -
1971 $809 - $2,952 -
1970 $748 - $2,594 -
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/qatar | CC BY

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $72,525 in Qatar, ranking 13/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Qatar ranks 5th at $126,046.

Economic indicators

Jamaica Qatar
Gross domestic product
$22.7B
2025
$216B
2025
GDP rank
125/197
2025
56/197
2025
GDP growth
0.08%
2024-2025
2.9%
2024-2025
GDP per capita
$8,003
2025
$72,525
2025
GDP per capita rank
98/197
2025
13/197
2025
GDP per capita, PPP
$12,890
2024
$126,046
2024
GDP per capita PPP rank
121/197
2024
5/197
2024
Government debt
$15.4B
2025
$89.2B
2025
Debt-to-GDP ratio
67.7%
2025
41.4%
2025
Government debt per person
$5,419
2025
$30,009
2025
Government debt per person rank
80/185
2025
24/185
2025
Average annual personal income after taxes
$8,390
2026
$37,042
2026
Market capitalization of domestic companies
$11.6B
2025
$177B
2025
Number of millionaires n/a
30,000
2026
Number of billionaires n/a
2
2026
Income share by richest 10%
29.6%
2021
25.8%
2017
Income share by poorest 10%
2.2%
2021
2.6%
2017
Government expenditure, % of GDP
33.8%
2025
27.1%
2025
Consumer prices inflation
4%
2024-2025
0.6%
2024-2025
Central bank interest rate
5.75%
2025
4.1%
2025
Unemployment rate
3.02%
2023
0.1%
2024
Population
2834177
3058826

Spending and national debt comparison by year

Jamaica
Spending

Debt
Qatar
Spending

Debt
1x
Year % of GDP
Jamaica Qatar
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 27.1% 41.4%
2024 30.1% 62.5% 26% 41.3%
2023 27.7% 66.5% 26.7% 42.8%
2022 27.1% 70.2% 24.3% 42.6%
2021 27.6% 86.3% 29.4% 58.4%
2020 30.1% 101.3% 34.7% 72.6%
2019 27.5% 87.7% 32.5% 62.1%
2018 27.5% 88.3% 28.9% 52.2%
2017 26.9% 95.1% 34.7% 51.6%
2016 26.5% 106.9% 40.1% 46.7%
2015 25.9% 115.9% 38.6% 35.5%
2014 26.1% 134.4% 32.3% 24.9%
2013 26.3% 135.2% 28.3% 30.9%
2012 29.1% 140.3% 31% 32.1%
2011 31.2% 135.9% 28.5% 33.5%
2010 32.3% 137.8% 32% 30.4%
2009 37.7% 138.3% 36.4% 36%
2008 33.9% 123.8% 23.5% 11.4%
2007 30.6% 111.6% 29.5% 9.37%
2006 30.1% 114.2% 29.5% 13.9%
2005 28.6% 121.5% 29% 19.1%
2004 30.7% 116.9% 29.9% 30.1%
2003 31.1% 120.1% 28.5% 38.8%
2002 30.1% 115.4% 31.6% 47.7%
2001 27.8% 105.3% 32.1% 59.2%
2000 25.7% 89.5% 29.8% 51.6%
1999 27.9% 80.7% 42.4% 81.8%
1998 27.9% 75.6% 55.1% 76.6%
1997 27.6% 74.4% 47.6% 54.4%
1996 27.4% 70.2% 55.2% 57.8%
1995 22.1% 85.2% 52.2% 50.2%
1994 19.9% 90.4% 59.8% 54.8%
1993 19.6% 106.2% 62.8% 46.3%
1992 18.2% 100.4% 54.2% 19.9%
1991 19.9% 175.1% 57.5% 21.8%
1990 22.6% 128.8% 50% 12.6%

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/qatar | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Qatar spent $58.4B, or 27.1% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 41.4% in Qatar, ranking 62/185 and 127/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Qatar
1x
Year Deficit/surplus, % of GDP
Jamaica Qatar
2025 -3.77% -1%
2024 0.22% 0.71%
2023 0.04% 5.51%
2022 0.26% 10.4%
2021 0.84% 0.24%
2020 -2.87% -2.13%
2019 0.85% 1%
2018 1.1% 2.26%
2017 0.42% -6.82%
2016 -0.18% -9.2%
2015 -0.28% 18.4%
2014 -0.48% 13.4%
2013 0.12% 19.3%
2012 -3.97% 8.55%
2011 -6.24% 5.24%
2010 -6.17% 4.6%
2009 -10.8% 14.1%
2008 -7.32% 9.49%
2007 -3.7% 10.3%
2006 -4.74% 8.39%
2005 -3.22% 9.8%
2004 -4.56% 17.7%
2003 -5.42% 6.71%
2002 -6.55% 7.89%
2001 -4.77% 4.48%
2000 -0.78% 4.62%
1999 -3.41% -4.35%
1998 -5.73% -7%
1997 -6.39% -9.4%
1996 -5.25% -8.73%
1995 1.53% -5.78%
1994 2.4% -11.8%
1993 2.37% -9.53%
1992 2.83% -2.74%
1991 3.14% -2.57%
1990 2.06% 3.23%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08).

GeoRank.org/economy/jamaica/qatar | 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 Qatar's deficit of $2.16B, or 1% of GDP.

Over the past 36 years, Jamaica recorded a fiscal deficit in 22 of those years, while Qatar ran a deficit in 13 years. On average, Jamaica posted an annual deficit equal to 2.18% of GDP, compared to surplus of 2.92% of GDP for Qatar.

Inflation comparison by year

Inflation
Jamaica

Qatar
1x
Year Consumer prices inflation
Jamaica Qatar
2025 4% 0.6%
2024 5.41% 1.2%
2023 6.47% 3.1%
2022 10.3% 5%
2021 5.86% 2.3%
2020 5.23% -2.5%
2019 3.91% -0.9%
2018 3.74% 0.1%
2017 4.38% 0.6%
2016 2.35% 2.7%
2015 3.69% 0.9%
2014 8.27% 4.2%
2013 9.34% 3.1%
2012 6.87% 1.8%
2011 7.56% 2%
2010 12.6% -2.4%
2009 9.59% -4.9%
2008 22% 15.1%
2007 9.24% 13.7%
2006 8.56% 11.7%
2005 15.1% 9%
2004 13.6% 6.8%
2003 10.1% 2.3%
2002 7.08% 0.2%
2001 6.8% 1.7%
2000 8.17% 1.6%
1999 5.95% 2.2%
1998 8.63% 2.9%
1997 9.66% 2.7%

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/qatar | CC BY

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 2.99% in Qatar. In 2025, inflation was 4% in Jamaica and 0.6% in Qatar.

Top exports between countries

Jamaica
Export category Export value
Miscellaneous $3K
Qatar
Export category Export value

Balance of trade

Jamaica Qatar
Current account balance
$679M
2024
$31.9B
2025
Current account balance ranking
53/190
2024
17/190
2025
Current account balance, % of GDP
+3.08%
2024
+14.8%
2025
Goods imports
$6.07B
2024
$34.3B
2025
Goods exports
$1.87B
2024
$90B
2025
Service imports
$3.46B
2024
$31.3B
2025
Service exports
$5.26B
2024
$24.4B
2025
Imports of goods and services, % of GDP
52.1%
2019
31.6%
2022
Exports of goods and services, % of GDP
38%
2019
68.6%
2022

Economic freedom indices

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

Jamaica Qatar
Economic freedom 68.2 70.2
Economic freedom ranking 48/197 37/197
Property rights 66.8 66.2
Government integrity 49.4 53.5
Judicial effectiveness 75.6 41.5
Tax burden 76.3 99.9
Government spending 76 79.9
Fiscal health 92.2 96.6
Business freedom 68.5 68
Labor freedom 59.2 58.5
Monetary freedom 74.2 76
Trade freedom 70.4 81.8
Investment freedom 60 60
Financial freedom 50 60

Economic freedom comparison by year

Jamaica
Qatar
1x
Year Economic freedom index
Jamaica Qatar
2026 68.2 70.2
2025 68.7 70.2
2024 68.1 68.8
2023 68.1 68.6
2022 67.4 67.7
2021 69 72
2020 68.5 72.3
2019 68.6 72.6
2018 69.1 72.6
2017 69.5 73.1
2016 67.5 70.7
2015 67.7 70.8
2014 66.7 71.2
2013 66.8 71.3
2012 65.1 71.3
2011 65.7 70.5
2010 65.5 69
2009 65.2 65.8
2008 65.7 62.2
2007 65.5 62.9
2006 66.4 62.4
2005 67 63.5
2004 66.7 66.5
2003 67 65.9
2002 61.7 61.9
2001 63.7 60
2000 65.5 62
1999 64.7 62
1998 67.1 -
1997 67.7 -
1996 66.7 -
1995 64.4 -

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 70.2 for Qatar, ranking 37/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Qatar
Services, % of GDP
59.8%
2025
47%
2025
Industry, % of GDP
16.3%
2025
57%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
0.31%
2025
GNI, Atlas method
$22.1B
2025
$221B
2025
GNI per capita, PPP
$13,090
2025
$126,290
2025
Total reserves including gold
$6.3B
2025
$55.8B
2025
Total reserves ranking
92/177
2025
45/177
2025
Net foreign direct investment
-$304M
2024
$311M
2025
Net inflows of foreign direct investment
$305M
2024
$460M
2024
Net outflows of foreign direct investment
$1.07M
2024
$1.56B
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
n/a
Poverty at national poverty lines
8.2%
2023
n/a
Gross capital formation, % of GDP
22.6%
2019
30.6%
2022

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/qatar | 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)
  8. TradeMap (2020, 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.