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Economy of Jamaica vs Zambia compared: GDP & Debt

Updated on by Georank

Jamaica has a GDP of $22.7B compared to $28.9B for Zambia, ranking 125/197 and 116/197 by economy size, respectively.

Jamaica has $15.4B in government debt (67.7% of GDP), compared to $24.8B (86% of GDP) in Zambia.

Jamaica vs Zambia GDP by year

Jamaica
Zambia
1x
Year GDP, current $
Jamaica Zambia
2025 $22,704,903,218 $28,879,806,220
2024 $22,014,429,051 $25,303,185,342
2023 $21,418,797,833 $27,577,956,471
2022 $18,813,516,805 $29,163,782,140
2021 $15,963,885,376 $22,096,416,932
2020 $15,000,214,216 $18,137,764,931
2019 $17,026,269,263 $23,308,667,781
2018 $16,855,447,986 $26,311,507,274
2017 $15,783,583,237 $25,873,601,261
2016 $14,898,999,754 $20,958,412,538
2015 $14,963,589,916 $21,251,216,799
2014 $13,899,217,680 $27,141,023,558
2013 $14,264,205,153 $28,037,239,463
2012 $14,807,086,556 $25,503,060,420
2011 $14,444,661,522 $23,459,515,276
2010 $13,220,549,908 $20,265,559,484
2009 $12,120,458,115 $15,328,342,304
2008 $13,709,401,520 $17,910,858,638
2007 $12,799,600,047 $14,056,957,976
2006 $11,930,179,090 $12,756,858,899
2005 $11,243,865,778 $8,331,870,169
2004 $10,174,664,854 $6,221,110,219
2003 $9,430,234,811 $4,901,869,764
2002 $9,719,009,495 $4,193,850,445
2001 $9,194,727,831 $4,094,441,301
2000 $9,005,064,475 $3,600,632,111
1999 $8,887,057,997 $3,404,284,891
1998 $8,787,195,622 $3,537,741,942
1997 $8,400,041,724 $4,303,288,480
1996 $7,393,891,921 $3,597,220,962
1995 $6,577,520,643 $3,806,983,413
1994 $5,452,558,947 $3,656,806,166
1993 $5,440,075,676 $3,273,505,344
1992 $3,535,460,090 $3,182,810,841
1991 $4,106,207,649 $3,376,806,697
1990 $4,592,208,087 $3,288,381,797
1989 $4,404,937,853 $3,994,673,161
1988 $3,828,342,820 $3,728,878,149
1987 $3,287,007,322 $2,265,250,972
1986 $2,754,549,582 $1,664,413,508
1985 $2,100,239,019 $2,252,454,500
1984 $2,373,564,549 $2,719,518,933
1983 $3,619,262,277 $3,321,048,451
1982 $3,293,496,312 $3,871,117,093
1981 $2,979,027,966 $4,008,126,497
1980 $2,679,379,372 $3,884,530,854
1979 $2,425,064,229 $3,353,445,378
1978 $2,644,527,822 $2,811,032,473
1977 $3,249,733,140 $2,515,296,940
1976 $2,966,042,856 $2,742,859,263
1975 $2,860,442,750 $2,442,672,141
1974 $2,375,122,375 $2,910,981,262
1973 $1,905,917,553 $2,434,255,237
1972 $1,875,146,587 $1,872,416,680
1971 $1,539,861,816 $1,653,259,341
1970 $1,404,720,442 $1,788,779,285
1969 $1,191,239,047 $1,926,399,230
1968 $1,083,839,133 $1,573,739,371
1967 $1,148,014,311 $1,340,639,464
1966 $1,096,759,561 $1,238,999,505
1965 $972,159,611 $1,061,199,576
1964 $897,949,001 $822,639,671
1963 $826,706,669 $704,339,719
1962 $777,727,689 $679,279,729
1961 $748,043,501 $682,359,727
1960 $699,064,380 $698,739,721

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

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

GDP per capita in Jamaica vs Zambia by year

Jamaica
GDP per capita

GDP per capita, PPP
Zambia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Jamaica Zambia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,003 - $1,318 -
2024 $7,754 $12,890 $1,187 $4,215
2023 $7,542 $12,651 $1,331 $4,077
2022 $6,626 $11,888 $1,447 $3,841
2021 $5,626 $10,431 $1,127 $3,503
2020 $5,299 $9,764 $952 $3,157
2019 $6,031 $10,845 $1,259 $3,361
2018 $5,977 $10,753 $1,464 $3,442
2017 $5,605 $10,466 $1,483 $3,392
2016 $5,302 $9,948 $1,239 $3,313
2015 $5,339 $9,476 $1,296 $3,337
2014 $4,975 $9,210 $1,707 $3,441
2013 $5,124 $9,101 $1,821 $3,477
2012 $5,341 $8,831 $1,710 $3,324
2011 $5,233 $8,809 $1,625 $3,228
2010 $4,810 $8,521 $1,451 $3,098
2009 $4,428 $8,580 $1,136 $2,872
2008 $5,030 $8,952 $1,376 $2,708
2007 $4,716 $8,893 $1,119 $2,555
2006 $4,417 $8,577 $1,052 $2,378
2005 $4,184 $8,127 $711 $2,213
2004 $3,808 $7,854 $549 $2,068
2003 $3,550 $7,593 $446 $1,942
2002 $3,681 $7,226 $394 $1,837
2001 $3,504 $7,019 $397 $1,785
2000 $3,453 $6,816 $359 $1,709
1999 $3,432 $6,653 $350 $1,654
1998 $3,419 $6,543 $373 $1,601
1997 $3,297 $6,682 $466 $1,631
1996 $2,929 $6,706 $400 $1,585
1995 $2,631 $6,657 $433 $1,501
1994 $2,203 $6,435 $426 $1,464
1993 $2,221 $6,279 $391 $1,607
1992 $1,458 $5,664 $389 $1,505
1991 $1,710 $5,485 $423 $1,534
1990 $1,930 $5,106 $422 $1,522
1989 $1,865 - $526 -
1988 $1,632 - $504 -
1987 $1,411 - $315 -
1986 $1,191 - $238.2 -
1985 $917 - $332 -
1984 $1,048 - $413 -
1983 $1,619 - $520 -
1982 $1,494 - $627 -
1981 $1,370 - $670 -
1980 $1,249 - $669 -
1979 $1,144 - $595 -
1978 $1,262 - $514 -
1977 $1,569 - $474 -
1976 $1,450 - $533 -
1975 $1,417 - $490 -
1974 $1,193 - $601 -
1973 $972 - $518 -
1972 $971 - $410 -
1971 $809 - $372 -
1970 $748 - $414 -
1969 $642 - $459 -
1968 $591 - $387 -
1967 $633 - $341 -
1966 $612 - $325 -
1965 $549 - $287.4 -
1964 $514 - $230 -
1963 $480 - $203.2 -
1962 $458 - $202.3 -
1961 $447 - $209.7 -
1960 $424 - $221.6 -

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

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

Jamaica's GDP per capita is $8,003, ranking 98/197, compared to $1,318 in Zambia, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Jamaica ranks 121st at $12,890, while Zambia ranks 166th at $4,215.

Economic indicators

Jamaica Zambia
Gross domestic product
$22.7B
2025
$28.9B
2025
GDP rank
125/197
2025
116/197
2025
GDP growth
0.08%
2024-2025
3.76%
2024-2025
GDP per capita
$8,003
2025
$1,318
2025
GDP per capita rank
98/197
2025
170/197
2025
GDP per capita, PPP
$12,890
2024
$4,215
2024
GDP per capita PPP rank
121/197
2024
166/197
2024
Government debt
$15.4B
2025
$24.8B
2025
Debt-to-GDP ratio
67.7%
2025
86%
2025
Government debt per person
$5,419
2025
$1,133
2025
Government debt per person rank
80/185
2025
140/185
2025
Average annual personal income after taxes
$8,390
2026
$1,538
2026
Market capitalization of domestic companies
$11.6B
2025
$14.9B
2025
Income share by richest 10%
29.6%
2021
39.1%
2022
Income share by poorest 10%
2.2%
2021
1.5%
2022
Government expenditure, % of GDP
33.8%
2025
29.7%
2025
Consumer prices inflation
4%
2024-2025
13.9%
2024-2025
Central bank interest rate
5.75%
2025
13.3%
2026
Unemployment rate
3.02%
2023
5.67%
2024
Population
2834177
22844606

Spending and national debt comparison by year

Jamaica
Spending

Debt
Zambia
Spending

Debt
1x
Year % of GDP
Jamaica Zambia
Government spending Government debt Government spending Government debt
2025 33.8% 67.7% 29.7% 86%
2024 30.1% 62.5% 26.5% 125.2%
2023 27.7% 66.5% 27.4% 129.1%
2022 27.1% 70.2% 28.2% 99.5%
2021 27.6% 86.3% 30.5% 111%
2020 30.1% 101.3% 34% 140%
2019 27.5% 87.7% 29.8% 103.3%
2018 27.5% 88.3% 27.7% 81.2%
2017 26.9% 95.1% 25% 66.6%
2016 26.5% 106.9% 23.9% 61.2%
2015 25.9% 115.9% 27.6% 61.9%
2014 26.1% 134.4% 24.3% 33.9%
2013 26.3% 135.2% 24% 25.9%
2012 29.1% 140.3% 21.9% 24.9%
2011 31.2% 135.9% 19.5% 20.8%
2010 32.3% 137.8% 18.1% 18.9%
2009 37.7% 138.3% 17.8% 20.5%
2008 33.9% 123.8% 19.5% 19.2%
2007 30.6% 111.6% 19.9% 21.9%
2006 30.1% 114.2% 19.7% 25%
2005 28.6% 121.5% 22.5% 75.7%
2004 30.7% 116.9% 23.3% 129.9%
2003 31.1% 120.1% 27.3% 159.5%
2002 30.1% 115.4% 27.6% 180.2%
2001 27.8% 105.3% 28% 210.2%
2000 25.7% 89.5% 21.4% 261%
1999 27.9% 80.7% - -
1998 27.9% 75.6% - -
1997 27.6% 74.4% - -
1996 27.4% 70.2% - -
1995 22.1% 85.2% - -
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/zambia | CC BY

In 2025, Jamaica's government spending was $7.68B, accounting for 33.8% of its GDP, while Zambia spent $8.58B, or 29.7% of GDP.

Debt-to-GDP ratio is 67.7% in Jamaica and 86% in Zambia, ranking 62/185 and 35/185, respectively.

Government deficit by year

Deficit/surplus
Jamaica

Zambia
1x
Year Deficit/surplus, % of GDP
Jamaica Zambia
2025 -3.77% -3.83%
2024 0.22% -3.46%
2023 0.04% -5.48%
2022 0.26% -7.82%
2021 0.84% -8.13%
2020 -2.87% -13.8%
2019 0.85% -9.41%
2018 1.1% -8.31%
2017 0.42% -7.5%
2016 -0.18% -5.69%
2015 -0.28% -8.88%
2014 -0.48% -5.43%
2013 0.12% -6.4%
2012 -3.97% -3.16%
2011 -6.24% -1.78%
2010 -6.17% -2.43%
2009 -10.8% -2.06%
2008 -7.32% -0.67%
2007 -3.7% -1.04%
2006 -4.74% 16.9%
2005 -3.22% -2.37%
2004 -4.56% -2.51%
2003 -5.42% -5.31%
2002 -6.55% -4.5%
2001 -4.77% -5.89%
2000 -0.78% 1.16%
1999 -3.41% -
1998 -5.73% -
1997 -6.39% -
1996 -5.25% -
1995 1.53% -
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/zambia | 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 Zambia's deficit of $1.11B, or 3.83% of GDP.

Over the past 26 years, Jamaica recorded a fiscal deficit in 18 of those years, while Zambia ran a deficit in 24 years. On average, Jamaica posted an annual deficit equal to 2.77% of GDP, compared to deficit of 4.14% of GDP for Zambia.

Inflation comparison by year

Inflation
Jamaica

Zambia
1x
Year Consumer prices inflation
Jamaica Zambia
2025 4% 13.9%
2024 5.41% 15%
2023 6.47% 10.9%
2022 10.3% 11%
2021 5.86% 22%
2020 5.23% 15.7%
2019 3.91% 9.2%
2018 3.74% 7.5%
2017 4.38% 6.6%
2016 2.35% 17.9%
2015 3.69% 10.1%
2014 8.27% 7.8%
2013 9.34% 7%
2012 6.87% 6.6%
2011 7.56% 8.7%
2010 12.6% 8.5%
2009 9.59% 13.4%
2008 22% 12.4%
2007 9.24% 10.7%
2006 8.56% 9%
2005 15.1% 18.3%
2004 13.6% 18%
2003 10.1% 21.4%
2002 7.08% 22.2%
2001 6.8% 21.4%
2000 8.17% 24.1%
1999 5.95% 23.9%
1998 8.63% 22.7%
1997 9.66% 21.4%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Jamaica has recorded an average annual inflation rate of 8.08%, compared with 14.4% in Zambia. In 2025, inflation was 4% in Jamaica and 13.9% in Zambia.

Top exports between countries

Jamaica
Export category Export value
Machinery & equipment $10K
Miscellaneous $6K
Zambia
Export category Export value
Machinery & equipment $6K
Miscellaneous $1K

Balance of trade

Jamaica Zambia
Current account balance
$679M
2024
-$1.12B
2024
Current account balance ranking
53/190
2024
121/190
2024
Current account balance, % of GDP
+3.08%
2024
-4.41%
2024
Goods imports
$6.07B
2024
$10.1B
2024
Goods exports
$1.87B
2024
$11.4B
2024
Service imports
$3.46B
2024
$1.99B
2024
Service exports
$5.26B
2024
$1.38B
2024
Imports of goods and services, % of GDP
52.1%
2019
27.6%
2024
Exports of goods and services, % of GDP
38%
2019
35%
2024

Economic freedom indices

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

Jamaica Zambia
Economic freedom 68.2 51.9
Economic freedom ranking 48/197 152/197
Property rights 66.8 43.9
Government integrity 49.4 39.3
Judicial effectiveness 75.6 45
Tax burden 76.3 74.3
Government spending 76 78.1
Fiscal health 92.2 30.9
Business freedom 68.5 53.4
Labor freedom 59.2 48.8
Monetary freedom 74.2 66.6
Trade freedom 70.4 62.8
Investment freedom 60 40
Financial freedom 50 40

Economic freedom comparison by year

Jamaica
Zambia
1x
Year Economic freedom index
Jamaica Zambia
2026 68.2 51.9
2025 68.7 50.9
2024 68.1 48.4
2023 68.1 47.8
2022 67.4 48.7
2021 69 50.4
2020 68.5 53.5
2019 68.6 53.6
2018 69.1 54.3
2017 69.5 55.8
2016 67.5 58.8
2015 67.7 58.7
2014 66.7 60.4
2013 66.8 58.7
2012 65.1 58.3
2011 65.7 59.7
2010 65.5 58
2009 65.2 56.6
2008 65.7 56.2
2007 65.5 56.2
2006 66.4 56.8
2005 67 55
2004 66.7 54.9
2003 67 55.3
2002 61.7 59.6
2001 63.7 59.5
2000 65.5 62.8
1999 64.7 64.2
1998 67.1 62.7
1997 67.7 62.1
1996 66.7 59.6
1995 64.4 55.1

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

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

The Economic Freedom Index for Jamaica is 68.2, ranking 48/197, compared to 51.9 for Zambia, ranking 152/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Jamaica Zambia
Services, % of GDP
59.8%
2025
57%
2025
Industry, % of GDP
16.3%
2025
35.3%
2025
Agriculture, forestry, and fishing, % of GDP
8.74%
2025
4.11%
2025
GNI, Atlas method
$22.1B
2025
$26.2B
2025
GNI per capita, PPP
$13,090
2025
$3,990
2025
Total reserves including gold
$6.3B
2025
$4.09B
2024
Total reserves ranking
92/177
2025
111/177
2024
Net foreign direct investment
-$304M
2024
-$2.05B
2024
Net inflows of foreign direct investment
$305M
2024
$2.36B
2024
Net outflows of foreign direct investment
$1.07M
2024
$311M
2024
Servicing debt to the IMF, % of GNI
11.3%
2024
17.3%
2024
Poverty at national poverty lines
8.2%
2023
60%
2022
Gross capital formation, % of GDP
22.6%
2019
23.8%
2024

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/zambia | 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 (2020–2024, 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.