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Economy of Jamaica vs Slovakia compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $155B for Slovakia, ranking 125/197 and 60/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $95.3B (61.6% of GDP) in Slovakia.

Jamaica vs Slovakia GDP by year

Jamaica
Slovakia
1x
Year GDP, current $
Jamaica Slovakia
2025 $22,704,903,218 $154,530,066,507
2024 $22,014,429,051 $140,934,076,532
2023 $21,418,797,833 $133,578,518,424
2022 $18,813,516,805 $115,792,972,358
2021 $15,963,885,376 $120,511,265,913
2020 $15,000,214,216 $107,732,602,896
2019 $17,026,269,263 $105,843,498,304
2018 $16,855,447,986 $106,611,673,365
2017 $15,783,583,237 $95,978,130,735
2016 $14,898,999,754 $90,347,173,229
2015 $14,963,589,916 $89,178,548,717
2014 $13,899,217,680 $101,713,075,599
2013 $14,264,205,153 $99,134,277,850
2012 $14,807,086,556 $94,724,394,278
2011 $14,444,661,522 $99,705,104,723
2010 $13,220,549,908 $91,112,160,801
2009 $12,120,458,115 $89,342,984,698
2008 $13,709,401,520 $96,685,492,864
2007 $12,799,600,047 $77,019,443,089
2006 $11,930,179,090 $57,111,148,619
2005 $11,243,865,778 $48,823,790,951
2004 $10,174,664,854 $42,960,730,480
2003 $9,430,234,811 $33,761,723,946
2002 $9,719,009,495 $24,768,142,566
2001 $9,194,727,831 $21,377,597,035
2000 $9,005,064,475 $20,626,538,612
1999 $8,887,057,997 $20,813,421,086
1998 $8,787,195,622 $22,911,708,405
1997 $8,400,041,724 $22,026,728,498
1996 $7,393,891,921 $21,864,845,214
1995 $6,577,520,643 $20,306,095,054
1994 $5,452,558,947 $16,187,735,322
1993 $5,440,075,676 $13,991,963,247
1992 $3,535,460,090 $12,932,972,789
1991 $4,106,207,649 $11,952,983,608
1990 $4,592,208,087 $17,068,924,602
1989 $4,404,937,853 -
1988 $3,828,342,820 -
1987 $3,287,007,322 -
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Jamaica vs Slovakia by year

Jamaica
GDP per capita

GDP per capita, PPP
Slovakia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Slovakia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $28,544 -
2024 $7,754 $12,890 $25,993 $48,132
2023 $7,542 $12,651 $24,615 $45,974
2022 $6,626 $11,888 $21,318 $41,562
2021 $5,626 $10,431 $22,123 $38,346
2020 $5,299 $9,764 $19,735 $35,328
2019 $6,031 $10,845 $19,406 $33,986
2018 $5,977 $10,753 $19,573 $31,510
2017 $5,605 $10,466 $17,646 $30,246
2016 $5,302 $9,948 $16,636 $29,868
2015 $5,339 $9,476 $16,442 $30,148
2014 $4,975 $9,210 $18,771 $29,108
2013 $5,124 $9,101 $18,313 $28,075
2012 $5,341 $8,831 $17,517 $27,023
2011 $5,233 $8,809 $18,469 $26,202
2010 $4,810 $8,521 $16,899 $25,382
2009 $4,428 $8,580 $16,587 $23,077
2008 $5,030 $8,952 $17,974 $23,714
2007 $4,716 $8,893 $14,330 $21,232
2006 $4,417 $8,577 $10,629 $18,906
2005 $4,184 $8,127 $9,087 $16,570
2004 $3,808 $7,854 $7,997 $15,166
2003 $3,550 $7,593 $6,283 $14,088
2002 $3,681 $7,226 $4,606 $13,292
2001 $3,504 $7,019 $3,974 $12,367
2000 $3,453 $6,816 $3,828 $11,370
1999 $3,432 $6,653 $3,857 $10,726
1998 $3,419 $6,543 $4,250 $10,666
1997 $3,297 $6,682 $4,092 $10,137
1996 $2,929 $6,706 $4,069 $9,500
1995 $2,631 $6,657 $3,787 $8,812
1994 $2,203 $6,435 $3,028 $8,178
1993 $2,221 $6,279 $2,627 $7,569
1992 $1,458 $5,664 $2,438 $7,270
1991 $1,710 $5,485 $2,254 $7,623
1990 $1,930 $5,106 $3,221 $8,638
1989 $1,865 - - -
1988 $1,632 - - -
1987 $1,411 - - -
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 (1960–2025, retrieved 2026-07-08).

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

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $28,544 in Slovakia, ranking 46/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Slovakia ranks 49th at $48,132.

Economic indicators

Jamaica Slovakia
Gross domestic product
$22.7B
2025
$155B
2025
GDP rank
125/197
2025
60/197
2025
GDP growth
0.08%
2024-2025
0.81%
2024-2025
GDP per capita
$8,003
2025
$28,544
2025
GDP per capita rank
98/197
2025
46/197
2025
GDP per capita, PPP
$12,890
2024
$48,132
2024
GDP per capita PPP rank
121/197
2024
49/197
2024
Government debt
$15.4B
2025
$95.3B
2025
Debt-to-GDP ratio
67.7%
2025
61.6%
2025
Government debt per person
$5,419
2025
$17,597
2025
Government debt per person rank
80/185
2025
36/185
2025
Average annual personal income after taxes
$8,390
2026
$17,518
2026
Market capitalization of domestic companies
$11.6B
2025
$5.38B
2014
Number of billionaires n/a
2
2026
Income share by richest 10%
29.6%
2021
18.8%
2023
Income share by poorest 10%
2.2%
2021
3.3%
2023
Government expenditure, % of GDP
33.8%
2025
48.7%
2025
Consumer prices inflation
4%
2024-2025
4%
2024-2025
Central bank interest rate
5.75%
2025
n/a
Unemployment rate
3.02%
2023
5.4%
2025
Population
2834177
5376239

Spending and national debt comparison by year

Jamaica
Spending

Debt
Slovakia
Spending

Debt
1x
Year % of GDP
Jamaica Slovakia
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 48.7% 61.6%
2024 30.1% 62.5% 47.5% 59.7%
2023 27.7% 66.5% 48.2% 55.8%
2022 27.1% 70.2% 43.1% 57.8%
2021 27.6% 86.3% 44.8% 60.2%
2020 30.1% 101.3% 44.5% 58.4%
2019 27.5% 87.7% 40.6% 48%
2018 27.5% 88.3% 39.7% 49.3%
2017 26.9% 95.1% 39.8% 51.4%
2016 26.5% 106.9% 40.9% 52.1%
2015 25.9% 115.9% 44.1% 51.6%
2014 26.1% 134.4% 42% 53.4%
2013 26.3% 135.2% 41.1% 54.6%
2012 29.1% 140.3% 40% 51.7%
2011 31.2% 135.9% 40.8% 43.3%
2010 32.3% 137.8% 41% 40.7%
2009 37.7% 138.3% 43.2% 36.4%
2008 33.9% 123.8% 36.5% 28.6%
2007 30.6% 111.6% 35.9% 30.4%
2006 30.1% 114.2% 38.2% 31.5%
2005 28.6% 121.5% 39.1% 35%
2004 30.7% 116.9% 38.4% 42%
2003 31.1% 120.1% 40% 43.6%
2002 30.1% 115.4% 46% 45.6%
2001 27.8% 105.3% 46.2% 51.4%
2000 25.7% 89.5% 53.2% 50.6%
1999 27.9% 80.7% 48.4% 47.1%
1998 27.9% 75.6% 46.2% 33.9%
1997 27.6% 74.4% 48.6% 32.8%
1996 27.4% 70.2% 52.8% 30.3%
1995 22.1% 85.2% 47.8% 21.3%
1994 19.9% 90.4% - -
1993 19.6% 106.2% - -
1992 18.2% 100.4% - -
1991 19.9% 175.1% - -
1990 22.6% 128.8% - -

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/slovakia | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Slovakia spent $75.3B, or 48.7% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 61.6% in Slovakia, ranking 62/185 and 74/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Slovakia
1x
Year Deficit/surplus, % of GDP
Jamaica Slovakia
2025 -3.77% -5.02%
2024 0.22% -5.5%
2023 0.04% -5.3%
2022 0.26% -1.56%
2021 0.84% -5.09%
2020 -2.87% -5.3%
2019 0.85% -1.21%
2018 1.1% -1.01%
2017 0.42% -0.98%
2016 -0.18% -2.59%
2015 -0.28% -2.78%
2014 -0.48% -3.25%
2013 0.12% -2.86%
2012 -3.97% -4.37%
2011 -6.24% -4.36%
2010 -6.17% -7.44%
2009 -10.8% -8.18%
2008 -7.32% -2.54%
2007 -3.7% -2.26%
2006 -4.74% -3.57%
2005 -3.22% -2.86%
2004 -4.56% -2.36%
2003 -5.42% -2.28%
2002 -6.55% -8.35%
2001 -4.77% -7.74%
2000 -0.78% -12.7%
1999 -3.41% -7.25%
1998 -5.73% -5.37%
1997 -6.39% -6.24%
1996 -5.25% -9.72%
1995 1.53% -3.43%
1994 2.4% -
1993 2.37% -
1992 2.83% -
1991 3.14% -
1990 2.06% -

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

GeoRank.org/economy/jamaica/slovakia | 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 Slovakia's deficit of $7.75B, or 5.02% of GDP.

Over the past 31 years, Jamaica recorded a fiscal deficit in 22 of those years, while Slovakia ran a deficit in 31 years. On average, Jamaica posted an annual deficit equal to 2.94% of GDP, compared to deficit of 4.63% of GDP for Slovakia.

Inflation comparison by year

Inflation
Jamaica

Slovakia
1x
Year Consumer prices inflation
Jamaica Slovakia
2025 4% 4%
2024 5.41% 2.76%
2023 6.47% 10.5%
2022 10.3% 12.8%
2021 5.86% 3.15%
2020 5.23% 1.94%
2019 3.91% 2.66%
2018 3.74% 2.51%
2017 4.38% 1.31%
2016 2.35% -0.52%
2015 3.69% -0.33%
2014 8.27% -0.08%
2013 9.34% 1.4%
2012 6.87% 3.61%
2011 7.56% 3.92%
2010 12.6% 0.96%
2009 9.59% 1.62%
2008 22% 4.6%
2007 9.24% 2.76%
2006 8.56% 4.48%
2005 15.1% 2.71%
2004 13.6% 7.55%
2003 10.1% 8.55%
2002 7.08% 3.13%
2001 6.8% 7.33%
2000 8.17% 12%
1999 5.95% 10.6%
1998 8.63% 6.67%
1997 9.66% 6.14%

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

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

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 4.44% in Slovakia. In 2025, inflation was 4% in Jamaica and 4% in Slovakia.

Top exports between countries

Jamaica
Export category Export value
Slovakia
Export category Export value
Machinery & equipment $1.73M
Raw materials & minerals $177K
Textiles & consumer goods $67K
Weapons & explosives $63K
Chemicals & pharma $56K
Metals $5K
Miscellaneous $1K

Balance of trade

Jamaica Slovakia
Current account balance
$679M
2024
-$5.6B
2025
Current account balance ranking
53/190
2024
165/190
2025
Current account balance, % of GDP
+3.08%
2024
-3.63%
2025
Goods imports
$6.07B
2024
$117B
2025
Goods exports
$1.87B
2024
$117B
2025
Service imports
$3.46B
2024
$14.3B
2025
Service exports
$5.26B
2024
$14.7B
2025
Imports of goods and services, % of GDP
52.1%
2019
85.2%
2025
Exports of goods and services, % of GDP
38%
2019
85.1%
2025

Economic freedom indices

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

Jamaica Slovakia
Economic freedom 68.2 67.7
Economic freedom ranking 48/197 54/197
Property rights 66.8 82.6
Government integrity 49.4 57.2
Judicial effectiveness 75.6 70.5
Tax burden 76.3 75.4
Government spending 76 36.4
Fiscal health 92.2 69.6
Business freedom 68.5 71.1
Labor freedom 59.2 55.1
Monetary freedom 74.2 69.7
Trade freedom 70.4 79.4
Investment freedom 60 75
Financial freedom 50 70

Economic freedom comparison by year

Jamaica
Slovakia
1x
Year Economic freedom index
Jamaica Slovakia
2026 68.2 67.7
2025 68.7 68.4
2024 68.1 68.1
2023 68.1 69
2022 67.4 69.7
2021 69 66.3
2020 68.5 66.8
2019 68.6 65
2018 69.1 65.3
2017 69.5 65.7
2016 67.5 66.6
2015 67.7 67.2
2014 66.7 66.4
2013 66.8 68.7
2012 65.1 67
2011 65.7 69.5
2010 65.5 69.7
2009 65.2 69.4
2008 65.7 70
2007 65.5 69.6
2006 66.4 69.8
2005 67 66.8
2004 66.7 64.6
2003 67 59
2002 61.7 59.8
2001 63.7 58.5
2000 65.5 53.8
1999 64.7 54.2
1998 67.1 57.5
1997 67.7 55.5
1996 66.7 57.6
1995 64.4 60.4

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 67.7 for Slovakia, ranking 54/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Slovakia
Services, % of GDP
59.8%
2025
59.8%
2025
Industry, % of GDP
16.3%
2025
28.1%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
1.59%
2025
GNI, Atlas method
$22.1B
2025
$143B
2025
GNI per capita, PPP
$13,090
2025
$47,920
2025
Total reserves including gold
$6.3B
2025
$18.2B
2025
Total reserves ranking
92/177
2025
69/177
2025
Net foreign direct investment
-$304M
2024
-$198M
2025
Net inflows of foreign direct investment
$305M
2024
$5.01B
2024
Net outflows of foreign direct investment
$1.07M
2024
$2.24B
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
n/a
Poverty at national poverty lines
8.2%
2023
13.7%
2021
Gross capital formation, % of GDP
22.6%
2019
20.1%
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/slovakia | 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 (2024–2025, 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.