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Economy of Jamaica vs Saudi Arabia compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $1.28T for Saudi Arabia, ranking 125/197 and 19/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $405B (31.7% of GDP) in Saudi Arabia.

Jamaica vs Saudi Arabia GDP by year

Jamaica
Saudi Arabia
1x
Year GDP, current $
Jamaica Saudi Arabia
2025 $22,704,903,218 $1,276,942,933,333
2024 $22,014,429,051 $1,254,140,800,000
2023 $21,418,797,833 $1,218,584,800,000
2022 $18,813,516,805 $1,239,075,200,000
2021 $15,963,885,376 $982,661,066,667
2020 $15,000,214,216 $767,951,200,000
2019 $17,026,269,263 $888,890,133,333
2018 $16,855,447,986 $886,564,800,000
2017 $15,783,583,237 $741,266,133,333
2016 $14,898,999,754 $689,279,466,667
2015 $14,963,589,916 $693,414,400,000
2014 $13,899,217,680 $787,153,066,667
2013 $14,264,205,153 $769,755,733,333
2012 $14,807,086,556 $751,921,333,333
2011 $14,444,661,522 $680,660,800,000
2010 $13,220,549,908 $528,207,466,667
2009 $12,120,458,115 $429,097,866,667
2008 $13,709,401,520 $519,796,800,000
2007 $12,799,600,047 $415,964,509,673
2006 $11,930,179,090 $376,900,133,511
2005 $11,243,865,778 $328,459,608,764
2004 $10,174,664,854 $258,742,133,333
2003 $9,430,234,811 $215,807,733,333
2002 $9,719,009,495 $189,605,866,667
2001 $9,194,727,831 $184,137,600,000
2000 $9,005,064,475 $189,514,933,333
1999 $8,887,057,997 $161,717,066,667
1998 $8,787,195,622 $146,775,466,667
1997 $8,400,041,724 $165,963,684,913
1996 $7,393,891,921 $158,662,483,311
1995 $6,577,520,643 $143,343,124,166
1994 $5,452,558,947 $135,174,899,866
1993 $5,440,075,676 $132,967,957,276
1992 $3,535,460,090 $137,087,850,467
1991 $4,106,207,649 $132,223,230,975
1990 $4,592,208,087 $117,630,173,565
1989 $4,404,937,853 $95,344,459,279
1988 $3,828,342,820 $88,256,074,766
1987 $3,287,007,322 $85,695,861,148
1986 $2,754,549,582 $86,961,922,765
1985 $2,100,239,019 $103,897,846,494
1984 $2,373,564,549 $119,624,858,116
1983 $3,619,262,277 $129,171,635,311
1982 $3,293,496,312 $153,240,313,858
1981 $2,979,027,966 $184,291,360,139
1980 $2,679,379,372 $164,539,660,725
1979 $2,425,064,229 $111,858,444,786
1978 $2,644,527,822 $80,266,516,687
1977 $3,249,733,140 $74,188,986,586
1976 $2,966,042,856 $64,005,665,722
1975 $2,860,442,750 $46,773,208,643
1974 $2,375,122,375 $45,412,957,746
1973 $1,905,917,553 $14,947,435,499
1972 $1,875,146,587 $9,664,267,087
1971 $1,539,861,816 $7,184,806,909
1970 $1,404,720,442 $5,377,333,333
1969 $1,191,239,047 $4,485,777,644
1968 $1,083,839,133 $4,187,777,711
1967 $1,148,014,311 $3,257,022,223
1966 $1,096,759,561 $2,920,555,557
1965 $972,159,611 $2,647,955,558
1964 $897,949,001 $2,371,808,713
1963 $826,706,669 $2,207,393,172
1962 $777,727,689 $2,130,606,532
1961 $748,043,501 $1,920,811,284
1960 $699,064,380 $1,748,124,064

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/jamaica/saudi-arabia | CC BY

GDP per capita in Jamaica vs Saudi Arabia by year

Jamaica
GDP per capita

GDP per capita, PPP
Saudi Arabia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Saudi Arabia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $34,537 -
2024 $7,754 $12,890 $35,528 $71,375
2023 $7,542 $12,651 $36,157 $71,565
2022 $6,626 $11,888 $38,510 $71,968
2021 $5,626 $10,431 $31,921 $62,690
2020 $5,299 $9,764 $24,339 $47,518
2019 $6,031 $10,845 $29,567 $59,560
2018 $5,977 $10,753 $29,360 $59,378
2017 $5,605 $10,466 $23,929 $53,120
2016 $5,302 $9,948 $22,268 $49,937
2015 $5,339 $9,476 $23,256 $53,931
2014 $4,975 $9,210 $27,805 $62,578
2013 $5,124 $9,101 $27,865 $62,203
2012 $5,341 $8,831 $28,733 $65,034
2011 $5,233 $8,809 $27,127 $64,125
2010 $4,810 $8,521 $22,028 $58,829
2009 $4,428 $8,580 $17,718 $54,787
2008 $5,030 $8,952 $22,320 $57,236
2007 $4,716 $8,893 $18,596 $55,030
2006 $4,417 $8,577 $17,564 $54,639
2005 $4,184 $8,127 $15,976 $53,548
2004 $3,808 $7,854 $13,154 $51,225
2003 $3,550 $7,593 $11,487 $48,078
2002 $3,681 $7,226 $10,586 $45,466
2001 $3,504 $7,019 $10,805 $47,381
2000 $3,453 $6,816 $11,715 $48,644
1999 $3,432 $6,653 $10,452 $47,495
1998 $3,419 $6,543 $9,836 $48,867
1997 $3,297 $6,682 $11,545 $48,796
1996 $2,929 $6,706 $11,472 $48,569
1995 $2,631 $6,657 $10,786 $48,052
1994 $2,203 $6,435 $10,602 $48,904
1993 $2,221 $6,279 $10,885 $49,503
1992 $1,458 $5,664 $11,730 $50,355
1991 $1,710 $5,485 $11,847 $49,295
1990 $1,930 $5,106 $11,055 $46,214
1989 $1,865 - $9,414 -
1988 $1,632 - $9,165 -
1987 $1,411 - $9,386 -
1986 $1,191 - $10,078 -
1985 $917 - $12,745 -
1984 $1,048 - $15,541 -
1983 $1,619 - $17,810 -
1982 $1,494 - $22,454 -
1981 $1,370 - $28,703 -
1980 $1,249 - $27,206 -
1979 $1,144 - $19,612 -
1978 $1,262 - $14,914 -
1977 $1,569 - $14,595 -
1976 $1,450 - $13,313 -
1975 $1,417 - $10,266 -
1974 $1,193 - $10,503 -
1973 $972 - $3,640 -
1972 $971 - $2,474 -
1971 $809 - $1,929 -
1970 $748 - $1,509 -
1969 $642 - $1,313 -
1968 $591 - $1,276 -
1967 $633 - $1,032 -
1966 $612 - $961 -
1965 $549 - $904 -
1964 $514 - $840 -
1963 $480 - $812 -
1962 $458 - $813 -
1961 $447 - $760 -
1960 $424 - $718 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/jamaica/saudi-arabia | CC BY

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $34,537 in Saudi Arabia, ranking 36/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Saudi Arabia ranks 24th at $71,375.

Economic indicators

Jamaica Saudi Arabia
Gross domestic product
$22.7B
2025
$1.28T
2025
GDP rank
125/197
2025
19/197
2025
GDP growth
0.08%
2024-2025
4.5%
2024-2025
GDP per capita
$8,003
2025
$34,537
2025
GDP per capita rank
98/197
2025
36/197
2025
GDP per capita, PPP
$12,890
2024
$71,375
2024
GDP per capita PPP rank
121/197
2024
24/197
2024
Government debt
$15.4B
2025
$405B
2025
Debt-to-GDP ratio
67.7%
2025
31.7%
2025
Government debt per person
$5,419
2025
$10,956
2025
Government debt per person rank
80/185
2025
57/185
2025
Average annual personal income after taxes
$8,390
2026
$22,010
2026
Market capitalization of domestic companies
$11.6B
2025
$2.36T
2025
Number of millionaires n/a
348,000
2026
Number of billionaires n/a
15
2026
Income share by richest 10%
29.6%
2021
n/a
Income share by poorest 10%
2.2%
2021
n/a
Government expenditure, % of GDP
33.8%
2025
29%
2025
Consumer prices inflation
4%
2024-2025
2.08%
2024-2025
Central bank interest rate
5.75%
2025
4.25%
2025
Unemployment rate
3.02%
2023
3.24%
2025
Population
2834177
37955120

Spending and national debt comparison by year

Jamaica
Spending

Debt
Saudi Arabia
Spending

Debt
1x
Year % of GDP
Jamaica Saudi Arabia
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 29% 31.7%
2024 30.1% 62.5% 29.2% 25.9%
2023 27.7% 66.5% 28.3% 23%
2022 27.1% 70.2% 25.3% 21.3%
2021 27.6% 86.3% 28.2% 25.5%
2020 30.1% 101.3% 37.4% 29.7%
2019 27.5% 87.7% 31.8% 20.3%
2018 27.5% 88.3% 32.4% 16.8%
2017 26.9% 95.1% 30.9% 15.9%
2016 26.5% 106.9% 33.3% 12.2%
2015 25.9% 115.9% 38.5% 5.47%
2014 26.1% 134.4% 38.6% 1.5%
2013 26.3% 135.2% 34.5% 2.08%
2012 29.1% 140.3% 32.5% 2.97%
2011 31.2% 135.9% 32.4% 5.31%
2010 32.3% 137.8% 33% 8.43%
2009 37.7% 138.3% 37.1% 14%
2008 33.9% 123.8% 26.7% 12.1%
2007 30.6% 111.6% 29.5% 17.1%
2006 30.1% 114.2% 27.3% 25.8%
2005 28.6% 121.5% 28.2% 37.3%
2004 30.7% 116.9% 31.1% 62.9%
2003 31.1% 120.1% 33.1% 81.6%
2002 30.1% 115.4% 35.9% 96.4%
2001 27.8% 105.3% 36.9% 93.1%
2000 25.7% 89.5% 33.1% 86.7%
1999 27.9% 80.7% 30.3% 103%
1998 27.9% 75.6% 34.5% 101.5%
1997 27.6% 74.4% 35.6% 76.7%
1996 27.4% 70.2% 33.3% 75.2%
1995 22.1% 85.2% 32.4% 74.2%
1994 19.9% 90.4% 33.8% 67.9%
1993 19.6% 106.2% 37.7% 58.6%
1992 18.2% 100.4% 41.2% 47.8%
1991 19.9% 175.1% 34.9% 39.4%
1990 22.6% 128.8% 39.3% -

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/saudi-arabia | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Saudi Arabia spent $370B, or 29% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 31.7% in Saudi Arabia, ranking 62/185 and 151/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Saudi Arabia
1x
Year Deficit/surplus, % of GDP
Jamaica Saudi Arabia
2025 -3.77% -5.77%
2024 0.22% -2.46%
2023 0.04% -1.77%
2022 0.26% 2.24%
2021 0.84% -1.99%
2020 -2.87% -10.2%
2019 0.85% -3.96%
2018 1.1% -5.21%
2017 0.42% -8.57%
2016 -0.18% -13.2%
2015 -0.28% -14.9%
2014 -0.48% -3.4%
2013 0.12% 5.47%
2012 -3.97% 11.7%
2011 -6.24% 11.4%
2010 -6.17% 4.39%
2009 -10.8% -5.38%
2008 -7.32% 29.8%
2007 -3.7% 11.8%
2006 -4.74% 20.8%
2005 -3.22% 18%
2004 -4.56% 9.72%
2003 -5.42% 1.2%
2002 -6.55% -5.91%
2001 -4.77% -3.91%
2000 -0.78% 3.18%
1999 -3.41% -5.99%
1998 -5.73% -8.88%
1997 -6.39% -2.51%
1996 -5.25% -3.25%
1995 1.53% -5.12%
1994 2.4% -8.31%
1993 2.37% -9.33%
1992 2.83% -8.12%
1991 3.14% -3.28%
1990 2.06% -

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

GeoRank.org/economy/jamaica/saudi-arabia | 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 Saudi Arabia's deficit of $73.7B, or 5.77% of GDP.

Over the past 35 years, Jamaica recorded a fiscal deficit in 22 of those years, while Saudi Arabia ran a deficit in 23 years. On average, Jamaica posted an annual deficit equal to 2.3% of GDP, compared to deficit of 0.34% of GDP for Saudi Arabia.

Inflation comparison by year

Inflation
Jamaica

Saudi Arabia
1x
Year Consumer prices inflation
Jamaica Saudi Arabia
2025 4% 2.08%
2024 5.41% 1.69%
2023 6.47% 2.33%
2022 10.3% 2.47%
2021 5.86% 3.06%
2020 5.23% 3.37%
2019 3.91% -1.19%
2018 3.74% 2.47%
2017 4.38% -0.83%
2016 2.35% 2.05%
2015 3.69% 1.22%
2014 8.27% 2.24%
2013 9.34% 3.51%
2012 6.87% 2.87%
2011 7.56% 5.83%
2010 12.6% 5.34%
2009 9.59% 5.06%
2008 22% 9.87%
2007 9.24% 4.17%
2006 8.56% 2.21%
2005 15.1% 0.48%
2004 13.6% 0.52%
2003 10.1% 0.61%
2002 7.08% 0.25%
2001 6.8% -1.12%
2000 8.17% -1.12%
1999 5.95% -1.33%
1998 8.63% -0.37%
1997 9.66% 0.06%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/jamaica/saudi-arabia | CC BY

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 1.99% in Saudi Arabia. In 2025, inflation was 4% in Jamaica and 2.08% in Saudi Arabia.

Top exports between countries

Jamaica
Export category Export value
Raw materials & minerals $112K
Raw agricultural goods $57K
Miscellaneous $33K
Saudi Arabia
Export category Export value
Chemicals & pharma $172K
Metals $50K
Textiles & consumer goods $41K
Processed food, beverages & tobacco $14K
Miscellaneous $2K

Balance of trade

Jamaica Saudi Arabia
Current account balance
$679M
2024
-$32.7B
2025
Current account balance ranking
53/190
2024
185/190
2025
Current account balance, % of GDP
+3.08%
2024
-2.56%
2025
Goods imports
$6.07B
2024
$230B
2025
Goods exports
$1.87B
2024
$311B
2025
Service imports
$3.46B
2024
$129B
2025
Service exports
$5.26B
2024
$69.4B
2025
Imports of goods and services, % of GDP
52.1%
2019
28.2%
2025
Exports of goods and services, % of GDP
38%
2019
29.7%
2025

Economic freedom indices

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

Jamaica Saudi Arabia
Economic freedom 68.2 65.4
Economic freedom ranking 48/197 65/197
Property rights 66.8 51.4
Government integrity 49.4 52.7
Judicial effectiveness 75.6 38.2
Tax burden 76.3 99.2
Government spending 76 77
Fiscal health 92.2 97.9
Business freedom 68.5 71.2
Labor freedom 59.2 41.8
Monetary freedom 74.2 81.2
Trade freedom 70.4 73.8
Investment freedom 60 50
Financial freedom 50 50

Economic freedom comparison by year

Jamaica
Saudi Arabia
1x
Year Economic freedom index
Jamaica Saudi Arabia
2026 68.2 65.4
2025 68.7 64.4
2024 68.1 61.9
2023 68.1 58.3
2022 67.4 55.5
2021 69 66
2020 68.5 62.4
2019 68.6 60.7
2018 69.1 59.6
2017 69.5 64.4
2016 67.5 62.1
2015 67.7 62.1
2014 66.7 62.2
2013 66.8 60.6
2012 65.1 62.5
2011 65.7 66.2
2010 65.5 64.1
2009 65.2 64.3
2008 65.7 62.5
2007 65.5 60.9
2006 66.4 63
2005 67 63
2004 66.7 60.4
2003 67 63.2
2002 61.7 65.3
2001 63.7 62.2
2000 65.5 66.5
1999 64.7 65.5
1998 67.1 69.3
1997 67.7 68.7
1996 66.7 68.3
1995 64.4 -

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

GeoRank.org/economy/jamaica/saudi-arabia | CC BY

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 65.4 for Saudi Arabia, ranking 65/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Saudi Arabia
Services, % of GDP
59.8%
2025
48.9%
2025
Industry, % of GDP
16.3%
2025
43%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
2.59%
2025
GNI, Atlas method
$22.1B
2025
$1.33T
2025
GNI per capita, PPP
$13,090
2025
$74,400
2025
Total reserves including gold
$6.3B
2025
$505B
2025
Total reserves ranking
92/177
2025
8/177
2025
Net foreign direct investment
-$304M
2024
-$5.6B
2025
Net inflows of foreign direct investment
$305M
2024
$21.3B
2024
Net outflows of foreign direct investment
$1.07M
2024
$27.6B
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
31.6%
2025

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/saudi-arabia | 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. TradeMap (2020–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, 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.