Skip to content

Jamaica vs Singapore: Economic Indicators Comparison

Singapore with a GDP of $364.2B ranked the 36th largest economy in the world, while Jamaica ranked 122nd with $15.7B. By GDP 5-years average growth and GDP per capita, Singapore and Jamaica ranked 76th vs 153rd and 10th vs 106th, respectively.

Gross Domestic Product & Income

StatJamaicaSingapore
GDP$15.7B$364.2B
GDP growth, 1 year1.4%3.2%
GDP growth, 5-years average1%3.3%
Population2.9M5.9M
GDP per capita$5.4k$65k
GDP per capita growth1.45%2.66%
Purchasing Power Parity conversion factor73.980.86
Price level ratio of PPP conversion factor GDP to market exchange rate0.570.64
GDP per capita, PPP adjusted$9.4k$100k
GNI, Atlas method$14.6B$331.4B
GNI per capita$5k$59k
GNI, PPP adjusted$26.1B$533.8B
GNI per capita, PPP adjusted$8.9k$95k

Financial system and Human development

StatJamaicaSingapore
Income Tax Rate25%22%
Corporate Tax Rate25%17%
Inflation, consumer prices3.7%0.4%
Inflation, GDP deflator4.8%1.9%
Unemployment9.5%3.8%
Economic Freedom Index68.589.4
Personal Freedom Index7.297.44
Human Freedom Index7.168.1
Property Rights Index62.196.8
Judical Effectiveness Index50.592.9
Business Freedom Index77.792.8
Fiscal Health Index80.280
Labor Freedom Index7490.9
Investment Freedom Index8085
Financial Freedom Index5080
Trade Freedom Index68.494.8
Monetary Freedom Index77.785.6
Government Spending Index74.891.1
Tax Burden Index8090.3
Government Integrity Index46.892.4
Corruption Perceptions Index4485
Life expectancy at birth, years74.382.9
Suicide mortality rate, per 100,000 people2.29.9
Mortality caused by road traffic injury, per 100,000 people13.62.8
Intentional homicides, per 100,000 people570.2
International tourism, number of arrivals2.5M14.7M

Government debt & reserves

StatJamaicaSingapore
Central government debt, % of GDP99.4%108.3%
External debt stocks, % of GNI108%N/A
External debt stocks$16.3BN/A
Short-term debt, % of total reserves56.4%N/A
Total debt service, % of exports and primary income20.4%N/A
Adjusted net savings including particulate emission damage, % of GNI15.9%36.8%
Gross savings, % of GDP21.3%45.8%
Gross capital formation, % of GDP23.3%26.6%
Total reserves including gold$3.5B$292.7B
Foreign direct investment net inflows$774.6M$82B

Exports, imports and economic structure

StatJamaicaSingapore
Exports of goods and services, % of GDP38%176.4%
Imports of goods and services, % of GDP51.1%149.8%
Current account balance (balance of payments)-$287.6M$65.1B
Revenue excluding grants, % of GDP29.3%18.8%
Grants excluding technical cooperation, BoP$96.8M$1.6M
Personal remittances received$2.5BN/A
Industry including construction value added, % of GDP20.3%25.2%
Agriculture, forestry and fishing value added, % of GDP6.6%0%
Charges for the use of intellectual property, payments BoP$50.8M$15.2B
Charges for the use of intellectual property, receipts BoP$5.3M$8.7B
Expense, % of GDP26.7%15.2%
Government Expenditure, % of GDP29%17.2%

Compare with countries close by GDP per capita

Jamaica vs

CountryGDP
per capita
Population
Libya
$7.2k
5.66M
Turkmenistan
$7k
5.13M
Peru
$6.9k
30.4M
Colombia
$6.7k
49.1M
South Africa
$6.4k
57.7M
Ecuador
$6.3k
15.7M
Belarus
$6.3k
9.49M
Fiji
$6.3k
881k
Suriname
$6.2k
539k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.3M
Iraq
$5.8k
33.4M
Paraguay
$5.8k
6.8M
Iran
$5.6k
77.4M
Albania
$5.3k
3.02M
Guyana
$5k
800k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
15.5M
Tonga
$4.4k
105k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
190k
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
6.34M

Singapore vs

CountryGDP
per capita
Population
Monaco
$186k
37.8k
Liechtenstein
$165k
37.9k
Luxembourg
$117k
614k
Switzerland
$83k
8.21M
Norway
$82k
5.33M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.17M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
23.4M
Sweden
$55k
10.3M
Netherlands
$53k
17.2M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k