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World Factbook

Jamaica

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$4.041 billion (2020 est.)

expenditures

$4.466 billion (2020 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$6.424 billion (2022 est.)

Exports 2023

$7.275 billion (2023 est.)

Exports 2024

$7.124 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$9.726 billion (2022 est.)

Imports 2023

$9.866 billion (2023 est.)

Imports 2024

$9.524 billion (2024 est.)

Industries

agriculture, mining, manufacture, construction, financial and insurance services, tourism, telecommunications

Labor force

1.57 million (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: central government debt as a % of GDP

Public debt 2020

106.3% of GDP (2020 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

21.6% of GDP (2022 est.)

Remittances 2023

18.5% of GDP (2023 est.)

Remittances 2024

17.9% of GDP (2024 est.)

Exchange rates

Currency

Jamaican dollars (JMD) per US dollar -

Exchange rates 2020

142.403 (2020 est.)

Exchange rates 2021

150.79 (2021 est.)

Exchange rates 2022

153.427 (2022 est.)

Exchange rates 2023

154.159 (2023 est.)

Exchange rates 2024

156.44 (2024 est.)

Debt - external

note

note: present value of external debt in current US dollars

Debt - external 2023

$9.636 billion (2023 est.)

Economic overview

upper-middle-income Caribbean island economy; key agriculture and tourism sectors; high crime, youth unemployment, and poverty; susceptible to natural disasters and global commodity price shocks; progress in reducing public debt and moderating inflation within target range

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

4.1% (2022 est.)

Unemployment rate 2023

4.4% (2023 est.)

Unemployment rate 2024

4.9% (2024 est.)

Exports - partners

USA 37%, Russia 7%, Latvia 7%, Iceland 7%, UK 5% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

USA 39%, China 11%, Brazil 4%, Colombia 4%, Japan 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$10,100 (2022 est.)

Real GDP per capita 2023

$10,300 (2023 est.)

Real GDP per capita 2024

$10,300 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

5.2% (2022 est.)

Real GDP growth rate 2023

2.6% (2023 est.)

Real GDP growth rate 2024

-0.7% (2024 est.)

Agricultural products

sugarcane, goat milk, yams, chicken, oranges, coconuts, bananas, plantains, pumpkins/squash, pineapples (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

aluminum oxide, refined petroleum, natural gas, liquor, processed fruits and nuts (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, natural gas, cars, crude petroleum, plastic products (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$136.401 million (2022 est.)

Current account balance 2023

$568.932 million (2023 est.)

Current account balance 2024

$678.808 million (2024 est.)

Taxes and other revenues

25.7% (of GDP) (2020 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$19.93 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

76.2% (2019 est.)

government consumption

13.6% (2019 est.)

investment in inventories

0.2% (2019 est.)

investment in fixed capital

24.1% (2019 est.)

exports of goods and services

38% (2019 est.)

imports of goods and services

-52.1% (2019 est.)

Population below poverty line

16.7% (2021 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

10.3% (2022 est.)

Inflation rate (consumer prices) 2023

6.5% (2023 est.)

Inflation rate (consumer prices) 2024

5.4% (2024 est.)

Industrial production growth rate

-1.5% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$28.596 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$29.341 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$29.13 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

12.9% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

14.5% (2024 est.)

female

16.4% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2021

$4.838 billion (2021 est.)

Reserves of foreign exchange and gold 2022

$4.52 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$4.869 billion (2023 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

18.3% (2024 est.)

services

60.3% (2024 est.)

agriculture

9.8% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.2% (2021 est.)

highest 10%

29.6% (2021 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2021

39.9 (2021 est.)