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Indicators of economy in Jamaica

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Jamaica, on the other hand, reached USD 5,184 per capita, or 14.66 billion USD for the whole country. Jamaica is one of the smaller economies and is currently ranked 131. If this is calculated per inhabitant, taking purchasing power parity into account, then Jamaica ranks 116th in the list of the richest countries.

Inflation in Jamaica in 2021 was around 5.86%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 49.2 percent lower.
The index for perceived corruption in the public sector is 44, which is below average by global standards.


Back to overview: Jamaica

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic in 2020 were considerable in Jamaica. Overall, gross domestic product in 2020 fell from 15.83 billion US dollars to 13.81 billion US dollars. With a large drop of 12.75 percent, the economy in Jamaica has struggled significantly more than other countries. The unemployment rate rose from 7.7 to 9.5 percent. The consumer inflation rate has risen from 3.9 percent previously to 5.2 percent now.

Unemployment rates in percentages 1991 - 2021

Economic performance 2021

 Jamaica
Total
Jamaica
per capita
EU
Total
EU
per capita
GDP14.66 bn USD5,183.58 USD17.177 tn USD33,384.92 USD
Gross national product14.68 bn USD5,192.37 USD16.895 tn USD32,835.37 USD


Development of gross domestic product in billions of USD 1960 - 2021



Imports and Exports 2021

 Jamaica
Total
Jamaica
per capita
EU
Total
EU
per capita
Imports5.86 bn USD2,072.65 USD8.916 tn USD17,329.02 USD
Exports3.31 bn USD1,170.94 USD9.554 tn USD18,569.19 USD


Development of imports and exports in millions of USD 1976 - 2021

Exports
Imports



Jamaica: AirportsThe 4 airports in JamaicaThe 4 biggest airports in Jamaica
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.
Germany: household debtsDebts an budget deficits in GermanyBudget surplus and deficits in the last 22 years in Germany incl. a comparison to the European Union