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Economy of Jamaica vs Romania compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $383B for Romania, ranking 124/197 and 42/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $220B (57.4% of GDP) in Romania.

Jamaica vs Romania GDP by year

Jamaica
Romania
1x
Year GDP, current $
Jamaica Romania
2024 $22,014,397,090 $382,564,217,989
2023 $21,418,804,320 $347,757,995,759
2022 $18,813,516,805 $295,319,437,557
2021 $15,963,885,376 $285,071,280,114
2020 $15,000,214,216 $250,625,048,304
2019 $17,026,269,263 $250,080,428,512
2018 $16,855,447,986 $241,791,427,224
2017 $15,783,583,237 $210,147,385,855
2016 $14,898,999,754 $185,290,759,249
2015 $14,963,589,916 $177,885,131,240
2014 $13,899,217,680 $199,722,319,676
2013 $14,264,205,153 $189,798,603,751
2012 $14,807,086,556 $179,117,323,107
2011 $14,444,661,522 $192,623,977,894
2010 $13,220,549,908 $170,064,350,672
2009 $12,120,458,115 $174,110,532,659
2008 $13,709,401,520 $214,315,932,061
2007 $12,799,600,047 $174,588,782,939
2006 $11,930,179,090 $122,023,735,993
2005 $11,243,865,778 $98,454,380,120
2004 $10,174,664,854 $74,973,656,852
2003 $9,430,234,811 $57,806,384,143
2002 $9,719,009,495 $46,065,502,703
2001 $9,194,727,831 $40,395,116,581
2000 $9,005,064,475 $37,253,739,511
1999 $8,887,057,997 $35,953,156,754
1998 $8,787,195,622 $41,696,091,974
1997 $8,400,041,724 $35,575,214,078
1996 $7,393,891,921 $36,937,074,278
1995 $6,577,520,643 $37,430,162,103
1994 $5,452,558,947 $30,072,805,104
1993 $5,440,075,676 $26,361,160,450
1992 $3,535,460,090 $25,121,666,667
1991 $4,106,207,649 $28,850,634,900
1990 $4,592,208,087 $38,247,882,300
1989 $4,404,937,853 $41,450,777,202
1988 $3,828,342,820 $40,424,528,302
1987 $3,287,007,322 $38,067,567,568
1986 $2,754,549,582 -
1985 $2,100,239,019 -
1984 $2,373,564,549 -
1983 $3,619,262,277 -
1982 $3,293,496,312 -
1981 $2,979,027,966 -
1980 $2,679,379,372 -
1979 $2,425,064,229 -
1978 $2,644,527,822 -
1977 $3,249,733,140 -
1976 $2,966,042,856 -
1975 $2,860,442,750 -
1974 $2,375,122,375 -
1973 $1,905,917,553 -
1972 $1,875,146,587 -
1971 $1,539,861,816 -
1970 $1,404,720,442 -
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Jamaica vs Romania by year

Jamaica
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 $20,080 $49,077
2023 $7,542 $12,651 $18,244 $45,982
2022 $6,626 $11,888 $15,504 $41,979
2021 $5,626 $10,431 $14,908 $37,534
2020 $5,299 $9,764 $13,009 $34,194
2019 $6,031 $10,845 $12,910 $33,425
2018 $5,977 $10,753 $12,416 $29,383
2017 $5,605 $10,466 $10,728 $26,943
2016 $5,302 $9,948 $9,405 $23,905
2015 $5,339 $9,476 $8,977 $21,625
2014 $4,975 $9,210 $10,032 $20,633
2013 $5,124 $9,101 $9,498 $19,678
2012 $5,341 $8,831 $8,930 $19,808
2011 $5,233 $8,809 $9,561 $18,804
2010 $4,810 $8,521 $8,400 $17,355
2009 $4,428 $8,580 $8,548 $16,641
2008 $5,030 $8,952 $10,435 $16,782
2007 $4,716 $8,893 $8,360 $13,703
2006 $4,417 $8,577 $5,758 $11,554
2005 $4,184 $8,127 $4,618 $9,602
2004 $3,808 $7,854 $3,495 $8,989
2003 $3,550 $7,593 $2,679 $7,559
2002 $3,681 $7,226 $2,120 $7,162
2001 $3,504 $7,019 $1,825 $6,520
2000 $3,453 $6,816 $1,660 $5,850
1999 $3,432 $6,653 $1,600 $5,596
1998 $3,419 $6,543 $1,853 $5,545
1997 $3,297 $6,682 $1,577 $5,564
1996 $2,929 $6,706 $1,633 $5,746
1995 $2,631 $6,657 $1,650 $5,429
1994 $2,203 $6,435 $1,323 $4,995
1993 $2,221 $6,279 $1,158 $4,699
1992 $1,458 $5,664 $1,102 $4,515
1991 $1,710 $5,485 $1,254 $4,795
1990 $1,930 $5,106 $1,648 $5,280
1989 $1,865 - $1,790 -
1988 $1,632 - $1,753 -
1987 $1,411 - $1,659 -
1986 $1,191 - - -
1985 $917 - - -
1984 $1,048 - - -
1983 $1,619 - - -
1982 $1,494 - - -
1981 $1,370 - - -
1980 $1,249 - - -
1979 $1,144 - - -
1978 $1,262 - - -
1977 $1,569 - - -
1976 $1,450 - - -
1975 $1,417 - - -
1974 $1,193 - - -
1973 $972 - - -
1972 $971 - - -
1971 $809 - - -
1970 $748 - - -
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 (1960–2024, retrieved 2026-04-06).

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

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $20,080 in Romania, ranking 58/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Romania ranks 47th at $49,077.

Economic indicators

Jamaica Romania
Gross domestic product
$22B
2024
$383B
2024
GDP rank
124/197
2024
42/197
2024
GDP growth
-0.54%
2023-2024
0.92%
2023-2024
GDP per capita
$7,754
2024
$20,080
2024
GDP per capita rank
95/197
2024
58/197
2024
GDP per capita, PPP
$12,890
2024
$49,077
2024
GDP per capita PPP rank
121/197
2024
47/197
2024
Government debt
$14B
2024
$220B
2024
Debt-to-GDP ratio
63.4%
2024
57.4%
2024
Government debt per person
$4,917
2024
$11,533
2024
Government debt per person rank
79/185
2024
48/185
2024
Average annual personal income after taxes
$6,905
2026
$13,912
2026
Market capitalization of domestic companies
$12.4B
2024
$47.4B
2024
Number of billionaires n/a
6
2025
Income share by richest 10%
29.6%
2021
21.8%
2023
Income share by poorest 10%
2.2%
2021
2.4%
2023
Government expenditure, % of GDP
30.5%
2024
39.9%
2024
Consumer prices inflation
5.41%
2023-2024
5.6%
2023-2024
Central bank interest rate
5.75%
2025
6.5%
2024
Unemployment rate
3.02%
2023
5.43%
2024
Population
2834980
18839108

Spending and national debt comparison by year

Jamaica
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Jamaica Romania
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 39.9% 57.4%
2023 28% 67.3% 36.6% 52.1%
2022 28.4% 73.5% 37.4% 51.7%
2021 29% 90.9% 37% 51.5%
2020 29.8% 100.1% 38.1% 49.3%
2019 27.8% 88.6% 33.2% 36.5%
2018 27.8% 89.2% 31.7% 36.2%
2017 27.3% 96.7% 31% 37.1%
2016 27% 109.1% 31.8% 39.5%
2015 26.3% 117.6% 34.2% 39.4%
2014 26.5% 136.7% 33.8% 40.5%
2013 26.9% 138.1% 34.2% 39.3%
2012 29.6% 143% 33.5% 36.2%
2011 31.7% 138.1% 35% 32.6%
2010 32.9% 140.1% 37.4% 30.2%
2009 38.6% 141.5% 36.3% 22.5%
2008 34.4% 125.6% 35.3% 13%
2007 31.6% 115.3% 34.6% 12.4%
2006 31.2% 118% 33.9% 12.7%
2005 29.3% 124.5% 32.3% 17.8%
2004 31.5% 120.1% 33.7% 21.3%
2003 32.5% 125.5% 31.8% 24.9%
2002 31.1% 119.1% 32.1% 27.4%
2001 28.5% 107.9% 33.2% 27.4%
2000 26.2% 91.3% 35% 29.6%
1999 28.9% 83.5% 35.1% 21.7%
1998 28.3% 75.6% 34.7% 16.5%
1997 28.3% 74.4% 33.5% 15%
1996 27.7% 70.2% 33.5% 11%
1995 23.1% 85.2% 34.4% 6.91%
1994 21.5% 90.4% 33.1% -
1993 21.5% 106.2% 33.5% -
1992 20% 100.4% 41.5% -
1991 24.5% 175.1% 38.3% -
1990 25.7% 128.8% 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20).

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

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Romania spent $153B, or 39.9% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 57.4% in Romania, ranking 73/185 and 87/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Romania
1x
Year Deficit/surplus, % of GDP
Jamaica Romania
2024 0.22% -8.68%
2023 0.04% -5.61%
2022 0.27% -5.83%
2021 0.89% -6.7%
2020 -2.83% -9.54%
2019 0.85% -4.55%
2018 1.12% -2.74%
2017 0.43% -2.86%
2016 -0.19% -2.5%
2015 -0.28% -1.35%
2014 -0.49% -1.76%
2013 0.12% -2.44%
2012 -4.05% -2.39%
2011 -6.34% -4.14%
2010 -6.27% -6.22%
2009 -11.1% -6.86%
2008 -7.43% -4.6%
2007 -3.82% -3.05%
2006 -4.9% -1.36%
2005 -3.3% -0.69%
2004 -4.68% -3.39%
2003 -5.67% -2.29%
2002 -6.77% -2.59%
2001 -4.89% -3.2%
2000 -0.8% -3.99%
1999 -3.53% -3.58%
1998 -5.82% -5.33%
1997 -6.54% -5.19%
1996 -5.32% -4.74%
1995 1.6% -3.32%
1994 2.59% -2.2%
1993 2.6% -0.35%
1992 3.11% -4.55%
1991 3.87% 3.23%
1990 2.34% 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/jamaica/romania | 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 Romania's deficit of $33.2B, or 8.68% of GDP.

Over the past 35 years, Jamaica recorded a fiscal deficit in 21 of those years, while Romania ran a deficit in 33 years. On average, Jamaica posted an annual deficit equal to 2.14% of GDP, compared to deficit of 3.55% of GDP for Romania.

Inflation comparison by year

Inflation
Jamaica

Romania
1x
Year Consumer prices inflation
Jamaica Romania
2024 5.41% 5.6%
2023 6.47% 10.4%
2022 10.3% 13.8%
2021 5.86% 5%
2020 5.23% 2.6%
2019 3.91% 3.8%
2018 3.74% 4.6%
2017 4.38% 1.3%
2016 2.35% -1.6%
2015 3.69% -0.6%
2014 8.27% 1.1%
2013 9.34% 4%
2012 6.87% 3.3%
2011 7.56% 5.8%
2010 12.6% 6.1%
2009 9.59% 5.6%
2008 22% 7.8%
2007 9.24% 4.8%
2006 8.56% 6.6%
2005 15.1% 9%
2004 13.6% 11.9%
2003 10.1% 15.4%
2002 7.08% 22.5%
2001 6.8% 34.5%
2000 8.17% 45.7%
1999 5.95% 45.8%
1998 8.63% 59.1%
1997 9.66% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Jamaica has recorded an average annual inflation rate of 8.23%, compared with 17.5% in Romania. In 2024, inflation was 5.41% in Jamaica and 5.6% in Romania.

Top exports between countries

Jamaica
Export category Export value
Raw agricultural goods $10K
Romania
Export category Export value
Textiles & consumer goods $18K
Machinery & equipment $13K
Miscellaneous $10K
Raw materials & minerals $7K
Chemicals & pharma $4K
Metals $4K
Wood & paper products $1K

Balance of trade

Jamaica Romania
Current account balance
$679M
2024
-$31.2B
2024
Current account balance ranking
56/190
2024
185/190
2024
Current account balance, % of GDP
+3.08%
2024
-8.16%
2024
Goods imports
$6.07B
2024
$129B
2024
Goods exports
$1.87B
2024
$93.3B
2024
Service imports
$3.46B
2024
$30.2B
2024
Service exports
$5.26B
2024
$42.9B
2024
Imports of goods and services, % of GDP
52.1%
2019
41.6%
2024
Exports of goods and services, % of GDP
38%
2019
35.6%
2024

Economic freedom indices

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

Jamaica Romania
Economic freedom 68.2 65.4
Economic freedom ranking 48/197 64/197
Property rights 66.8 81
Government integrity 49.4 50
Judicial effectiveness 75.6 67
Tax burden 76.3 89.1
Government spending 76 56.7
Fiscal health 92.2 21.4
Business freedom 68.5 74.4
Labor freedom 59.2 63.6
Monetary freedom 74.2 72.7
Trade freedom 70.4 79.4
Investment freedom 60 70
Financial freedom 50 60

Economic freedom comparison by year

Jamaica
Romania
1x
Year Economic freedom index
Jamaica Romania
2026 68.2 65.4
2025 68.7 66.5
2024 68.1 64.4
2023 68.1 64.5
2022 67.4 67.1
2021 69 69.5
2020 68.5 69.7
2019 68.6 68.6
2018 69.1 69.4
2017 69.5 69.7
2016 67.5 65.6
2015 67.7 66.6
2014 66.7 65.5
2013 66.8 65.1
2012 65.1 64.4
2011 65.7 64.7
2010 65.5 64.2
2009 65.2 63.2
2008 65.7 61.7
2007 65.5 61.2
2006 66.4 58.2
2005 67 52.1
2004 66.7 50
2003 67 50.6
2002 61.7 48.7
2001 63.7 50
2000 65.5 52.1
1999 64.7 50.1
1998 67.1 54.4
1997 67.7 50.8
1996 66.7 46.2
1995 64.4 42.9

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Romania
Services, % of GDP
60%
2024
62.6%
2024
Industry, % of GDP
16.5%
2024
25.3%
2024
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
2.81%
2024
GNI, Atlas method
$20.5B
2024
$335B
2024
GNI per capita, PPP
$12,690
2024
$47,920
2024
Total reserves including gold
$5.63B
2024
$73.4B
2024
Total reserves ranking
93/177
2024
35/177
2024
Net foreign direct investment
-$304M
2024
-$5.17B
2024
Net inflows of foreign direct investment
$305M
2024
$7.16B
2024
Net outflows of foreign direct investment
$1.07M
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
n/a
Poverty at national poverty lines
8.2%
2023
19%
2023
Gross capital formation, % of GDP
22.6%
2019
25%
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/romania | 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. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. 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.