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Economy of Jamaica vs Vietnam compared: GDP & Debt

Updated on by Georank team

Jamaica has a GDP of $22B compared to $476B for Vietnam, ranking 124/197 and 33/197 by economy size, respectively.

Jamaica has $14B in government debt (63.4% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Jamaica vs Vietnam GDP by year

Jamaica
Vietnam
1x
Year GDP, current $
Jamaica Vietnam
2024 $22,014,397,090 $476,388,230,307
2023 $21,418,804,320 $433,857,681,378
2022 $18,813,516,805 $413,445,230,669
2021 $15,963,885,376 $366,474,752,771
2020 $15,000,214,216 $346,615,738,538
2019 $17,026,269,263 $334,365,270,497
2018 $16,855,447,986 $310,106,478,395
2017 $15,783,583,237 $281,353,605,987
2016 $14,898,999,754 $257,096,001,178
2015 $14,963,589,916 $239,258,328,382
2014 $13,899,217,680 $233,451,469,643
2013 $14,264,205,153 $213,708,811,665
2012 $14,807,086,556 $195,590,661,129
2011 $14,444,661,522 $172,595,049,184
2010 $13,220,549,908 $147,201,173,197
2009 $12,120,458,115 $106,014,659,565
2008 $13,709,401,520 $99,130,304,099
2007 $12,799,600,047 $77,414,425,532
2006 $11,930,179,090 $66,371,664,817
2005 $11,243,865,778 $57,633,255,738
2004 $10,174,664,854 $45,427,854,693
2003 $9,430,234,811 $39,552,513,232
2002 $9,719,009,495 $35,064,105,501
2001 $9,194,727,831 $32,685,198,809
2000 $9,005,064,475 $31,172,518,403
1999 $8,887,057,997 $28,683,659,007
1998 $8,787,195,622 $27,209,602,050
1997 $8,400,041,724 $26,843,700,442
1996 $7,393,891,921 $24,657,470,575
1995 $6,577,520,643 $20,736,164,459
1994 $5,452,558,947 $16,286,433,533
1993 $5,440,075,676 $13,180,953,598
1992 $3,535,460,090 $9,866,990,236
1991 $4,106,207,649 $9,613,369,520
1990 $4,592,208,087 $6,471,740,806
1989 $4,404,937,853 $6,293,304,975
1988 $3,828,342,820 $25,423,812,649
1987 $3,287,007,322 $36,658,108,850
1986 $2,754,549,582 $26,336,616,250
1985 $2,100,239,019 $14,094,687,821
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/vietnam | CC BY

GDP per capita in Jamaica vs Vietnam by year

Jamaica
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,754 $12,890 $4,717 $16,386
2023 $7,542 $12,651 $4,323 $15,034
2022 $6,626 $11,888 $4,148 $13,905
2021 $5,626 $10,431 $3,704 $12,049
2020 $5,299 $9,764 $3,534 $11,609
2019 $6,031 $10,845 $3,441 $11,029
2018 $5,977 $10,753 $3,222 $10,010
2017 $5,605 $10,466 $2,956 $9,170
2016 $5,302 $9,948 $2,735 $8,375
2015 $5,339 $9,476 $2,578 $7,672
2014 $4,975 $9,210 $2,546 $7,297
2013 $5,124 $9,101 $2,360 $6,758
2012 $5,341 $8,831 $2,185 $6,377
2011 $5,233 $8,809 $1,951 $5,786
2010 $4,810 $8,521 $1,683 $5,389
2009 $4,428 $8,580 $1,226 $5,061
2008 $5,030 $8,952 $1,164 $4,844
2007 $4,716 $8,893 $926 $4,581
2006 $4,417 $8,577 $808 $4,237
2005 $4,184 $8,127 $711 $3,894
2004 $3,808 $7,854 $565 $3,543
2003 $3,550 $7,593 $497 $3,240
2002 $3,681 $7,226 $445 $3,002
2001 $3,504 $7,019 $419 $2,809
2000 $3,453 $6,816 $404 $2,614
1999 $3,432 $6,653 $376 $2,421
1998 $3,419 $6,543 $361 $2,308
1997 $3,297 $6,682 $362 $2,189
1996 $2,929 $6,706 $337 $2,019
1995 $2,631 $6,657 $287.8 $1,841
1994 $2,203 $6,435 $229.9 $1,674
1993 $2,221 $6,279 $189.4 $1,534
1992 $1,458 $5,664 $144.5 $1,413
1991 $1,710 $5,485 $143.7 $1,298
1990 $1,930 $5,106 $98.8 $1,210
1989 $1,865 - $98.1 -
1988 $1,632 - $405 -
1987 $1,411 - $595 -
1986 $1,191 - $436 -
1985 $917 - $238.6 -
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/vietnam | CC BY

Jamaica's GDP per capita is $7,754, ranking 95/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Vietnam ranks 108th at $16,386.

Economic indicators

Jamaica Vietnam
Gross domestic product
$22B
2024
$476B
2024
GDP rank
124/197
2024
33/197
2024
GDP growth
-0.54%
2023-2024
7.09%
2023-2024
GDP per capita
$7,754
2024
$4,717
2024
GDP per capita rank
95/197
2024
122/197
2024
GDP per capita, PPP
$12,890
2024
$16,386
2024
GDP per capita PPP rank
121/197
2024
108/197
2024
Government debt
$14B
2024
$149B
2024
Debt-to-GDP ratio
63.4%
2024
31.3%
2024
Government debt per person
$4,917
2024
$1,475
2024
Government debt per person rank
79/185
2024
132/185
2024
Average annual personal income after taxes
$6,905
2026
$4,020
2026
Market capitalization of domestic companies
$12.4B
2024
$205B
2024
Number of billionaires n/a
5
2025
Income share by richest 10%
29.6%
2021
28.1%
2022
Income share by poorest 10%
2.2%
2021
2.6%
2022
Government expenditure, % of GDP
30.5%
2024
19.1%
2024
Consumer prices inflation
5.41%
2023-2024
3.6%
2023-2024
Central bank interest rate
5.75%
2025
4.5%
2023
Unemployment rate
3.02%
2023
1.53%
2024
Population
2834980
102365351

Spending and national debt comparison by year

Jamaica
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Jamaica Vietnam
Government spending Government debt Government spending Government debt
2024 30.5% 63.4% 19.1% 31.3%
2023 28% 67.3% 18.8% 34.3%
2022 28.4% 73.5% 18.2% 34.9%
2021 29% 90.9% 20.1% 39.2%
2020 29.8% 100.1% 21.3% 41.3%
2019 27.8% 88.6% 19.8% 41%
2018 27.8% 89.2% 20.5% 43.8%
2017 27.3% 96.7% 21.5% 46.6%
2016 27% 109.1% 22.2% 47.9%
2015 26.3% 117.6% 24.2% 46.1%
2014 26.5% 136.7% 22.8% 43.6%
2013 26.9% 138.1% 24.5% 41.4%
2012 29.6% 143% 23.5% 38.3%
2011 31.7% 138.1% 21.2% 36.2%
2010 32.9% 140.1% 23.7% 37.3%
2009 38.6% 141.5% 25% 36.2%
2008 34.4% 125.6% 21.4% 31%
2007 31.6% 115.3% 22.3% 32.2%
2006 31.2% 118% 20.5% 30.2%
2005 29.3% 124.5% 20.6% 28.7%
2004 31.5% 120.1% 19.4% 29.4%
2003 32.5% 125.5% 22.2% 29.8%
2002 31.1% 119.1% 19.7% 27.7%
2001 28.5% 107.9% 19.2% 25.4%
2000 26.2% 91.3% 17.8% 24.8%
1999 28.9% 83.5% 16.7% -
1998 28.3% 75.6% 16% -
1997 28.3% 74.4% - -
1996 27.7% 70.2% - -
1995 23.1% 85.2% - -
1994 21.5% 90.4% - -
1993 21.5% 106.2% - -
1992 20% 100.4% - -
1991 24.5% 175.1% - -
1990 25.7% 128.8% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20).

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

In 2024, Jamaica's government spending was $6.72B, accounting for 30.5% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 63.4% in Jamaica and 31.3% in Vietnam, ranking 73/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Vietnam
1x
Year Deficit/surplus, % of GDP
Jamaica Vietnam
2024 0.22% -1.54%
2023 0.04% -1.72%
2022 0.27% 0.67%
2021 0.89% -1.43%
2020 -2.83% -2.86%
2019 0.85% -0.4%
2018 1.12% -1.02%
2017 0.43% -1.96%
2016 -0.19% -3.16%
2015 -0.28% -4.98%
2014 -0.49% -5.02%
2013 0.12% -5.96%
2012 -4.05% -5.46%
2011 -6.34% -0.9%
2010 -6.27% -2.25%
2009 -11.1% -4.82%
2008 -7.43% -0.45%
2007 -3.82% -1.74%
2006 -4.9% 0.2%
2005 -3.3% -0.95%
2004 -4.68% -0.15%
2003 -5.67% -2.56%
2002 -6.77% -1.85%
2001 -4.89% -2.19%
2000 -0.8% -1.61%
1999 -3.53% -1.25%
1998 -5.82% -0.1%
1997 -6.54% -
1996 -5.32% -
1995 1.6% -
1994 2.59% -
1993 2.6% -
1992 3.11% -
1991 3.87% -
1990 2.34% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/jamaica/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Jamaica recorded a fiscal deficit in 19 of those years, while Vietnam ran a deficit in 25 years. On average, Jamaica posted an annual deficit equal to 2.93% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Jamaica

Vietnam
1x
Year Consumer prices inflation
Jamaica Vietnam
2024 5.41% 3.6%
2023 6.47% 3.3%
2022 10.3% 3.2%
2021 5.86% 1.8%
2020 5.23% 3.2%
2019 3.91% 2.8%
2018 3.74% 3.5%
2017 4.38% 3.5%
2016 2.35% 2.7%
2015 3.69% 0.6%
2014 8.27% 4.1%
2013 9.34% 6.6%
2012 6.87% 9.1%
2011 7.56% 18.7%
2010 12.6% 9.1%
2009 9.59% 6.7%
2008 22% 23.3%
2007 9.24% 8.4%
2006 8.56% 7.7%
2005 15.1% 8.3%
2004 13.6% 7.8%
2003 10.1% 3.1%
2002 7.08% 3.8%
2001 6.8% -0.4%
2000 8.17% -1.8%
1999 5.95% 4.1%
1998 8.63% 8.1%
1997 9.66% 3.1%

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/vietnam | CC BY

Over the past 28 years, Jamaica has recorded an average annual inflation rate of 8.23%, compared with 5.64% in Vietnam. In 2024, inflation was 5.41% in Jamaica and 3.6% in Vietnam.

Top exports between countries

Jamaica
Export category Export value
Textiles & consumer goods $30K
Wood & paper products $30K
Machinery & equipment $8K
Vietnam
Export category Export value

Balance of trade

Jamaica Vietnam
Current account balance
$679M
2024
$28B
2024
Current account balance ranking
56/190
2024
18/190
2024
Current account balance, % of GDP
+3.08%
2024
+5.89%
2024
Goods imports
$6.07B
2024
$362B
2024
Goods exports
$1.87B
2024
$406B
2024
Service imports
$3.46B
2024
$36.2B
2024
Service exports
$5.26B
2024
$23.9B
2024
Imports of goods and services, % of GDP
52.1%
2019
83.7%
2024
Exports of goods and services, % of GDP
38%
2019
90.2%
2024

Economic freedom indices

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

Jamaica Vietnam
Economic freedom 68.2 64.4
Economic freedom ranking 48/197 73/197
Property rights 66.8 47.3
Government integrity 49.4 39.2
Judicial effectiveness 75.6 31.3
Tax burden 76.3 80.9
Government spending 76 89.5
Fiscal health 92.2 96.9
Business freedom 68.5 70
Labor freedom 59.2 54.7
Monetary freedom 74.2 73.2
Trade freedom 70.4 79.8
Investment freedom 60 60
Financial freedom 50 50

Economic freedom comparison by year

Jamaica
Vietnam
1x
Year Economic freedom index
Jamaica Vietnam
2026 68.2 64.4
2025 68.7 65.2
2024 68.1 62.8
2023 68.1 61.8
2022 67.4 60.6
2021 69 61.7
2020 68.5 58.8
2019 68.6 55.3
2018 69.1 53.1
2017 69.5 52.4
2016 67.5 54
2015 67.7 51.7
2014 66.7 50.8
2013 66.8 51
2012 65.1 51.3
2011 65.7 51.6
2010 65.5 49.8
2009 65.2 51
2008 65.7 50.4
2007 65.5 49.8
2006 66.4 50.5
2005 67 48.1
2004 66.7 46.1
2003 67 46.2
2002 61.7 45.6
2001 63.7 44.3
2000 65.5 43.7
1999 64.7 42.7
1998 67.1 40.4
1997 67.7 38.6
1996 66.7 40.2
1995 64.4 41.7

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Vietnam
Services, % of GDP
60%
2024
42.4%
2024
Industry, % of GDP
16.5%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
7.97%
2024
11.9%
2024
GNI, Atlas method
$20.5B
2024
$454B
2024
GNI per capita, PPP
$12,690
2024
$15,850
2024
Total reserves including gold
$5.63B
2024
$83.1B
2024
Total reserves ranking
93/177
2024
30/177
2024
Net foreign direct investment
-$304M
2024
-$19.6B
2024
Net inflows of foreign direct investment
$305M
2024
$20.2B
2024
Net outflows of foreign direct investment
$1.07M
2024
$600M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
7.29%
2024
Poverty at national poverty lines
8.2%
2023
4.2%
2022
Gross capital formation, % of GDP
22.6%
2019
30.6%
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/vietnam | 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. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–1998, retrieved 2026-02-20)
  6. TradeMap (2020–2022, 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.