Jamaica GDP Trends from 1980 to 2024: A overall increase with some decline Flow

Jamaica's GDP changed from approximately $2B 565M in 1980 to $20B 98M in 2024, showing an overall 683.5% sharply increased during the period.
The lowest GDP was recorded in 1985 at $1B 993M, and the highest in 2024 at $20B 98M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 4.8%.
For comparison, the average annual growth rate of Haiti was 5.1%, and that of Trinidad and Tobago was 3.5%.

Jamaica GDP from 1980 to 2024

The total market value of goods and services produced annually in Jamaica.

Change Chart

    Overview of Jamaica's GDP (1980–2024)

    The Gross Domestic Product (GDP) of Jamaica recorded a 683.5% sharply increased from 1980 to 2024.
    The average GDP during this period was $9B 570M, and the median was $9B 430M.
    GDP fluctuated within a range of $18B 105M, with a standard deviation of $5B 193M.
    The average annual change was $387M 375K.


    Highest and Lowest GDP Records

    • Lowest GDP: 1985, $1B 993M
    • Highest GDP: 2024, $20B 98M
    • Most Recent GDP: 2024, $20B 98M

    Notable Annual GDP Changes

    • 2022: Significant increase in GDP
    • 2020: Noticeable drop in GDP

    Overall pattern: overall increase with some decline


    Global Economic Events and Jamaica's GDP

    COVID-19 Pandemic (2020)

    • Period: From 2019 to 2020
    • GDP Change: $15B 808M → $13B 885M
    • Outcome: sharply declined

    2008 Global Financial Crisis

    • Period: From 2007 to 2009
    • GDP Change: $12B 881M → $12B 107M
    • Outcome: declined

    2001 Dot-com Bubble Burst

    • Period: From 2000 to 2001
    • GDP Change: $9B 65M → $9B 195M
    • Outcome: increased

    1998 Asian Financial Crisis

    • Period: From 1997 to 1998
    • GDP Change: $8B 400M → $8B 787M
    • Outcome: increased

    Key Economic Indicators of Jamaica (1980–2024)

    yearNominal GDPGDP per CapitaPPP per CapitaPPP GDPGDP GrowthCurrent AccountSavingsFiscal BalancePopulation
    1980
    $ 2B 565M
    $ 1,214.38
    $ 2,911.41
    $ 6B 149M
    -4.041 %
    -4.579 %
    11.15 %
    0 %
    2M 112K people
    1981
    $ 2B 817M
    $ 1,310.50
    $ 3,269.15
    $ 7B 28M
    4.42 %
    -15.407 %
    8.59 %
    0 %
    2M 150K people
    1982
    $ 3B 235M
    $ 1,479.51
    $ 3,518.22
    $ 7B 692M
    3.08 %
    -16.661 %
    8.34 %
    0 %
    2M 186K people
    1983
    $ 2B 875M
    $ 1,289.23
    $ 3,733.11
    $ 8B 326M
    4.153 %
    -10.405 %
    14.19 %
    0 %
    2M 230K people
    1984
    $ 2B 119M
    $ 948
    $ 3,895.80
    $ 8B 708M
    0.95 %
    -11.564 %
    16.62 %
    0 %
    2M 235K people
    1985
    $ 1B 993M
    $ 878.36
    $ 3,923.32
    $ 8B 902M
    -0.9 %
    -12.738 %
    16.43 %
    0 %
    2M 269K people
    1986
    $ 2B 369M
    $ 1,034.77
    $ 4,244.31
    $ 9B 717M
    7 %
    -3.518 %
    17.87 %
    0 %
    2M 290K people
    1987
    $ 2B 672M
    $ 1,158.60
    $ 4,650.57
    $ 10B 725M
    7.7 %
    -5.263 %
    19.35 %
    0 %
    2M 306K people
    1988
    $ 3B 184M
    $ 1,372.73
    $ 4,595.25
    $ 10B 660M
    -3.993 %
    -1.907 %
    22.88 %
    0 %
    2M 320K people
    1989
    $ 3B 692M
    $ 1,588.56
    $ 4,990.14
    $ 11B 599M
    4.7 %
    -8.764 %
    20.73 %
    0 %
    2M 324K people
    1990
    $ 4B 663M
    $ 1,971.69
    $ 5,335.39
    $ 12B 619M
    4.875 %
    -6.692 %
    25.52 %
    9.787 %
    2M 365K people
    1991
    $ 4B 285M
    $ 1,799.77
    $ 5,525.44
    $ 13B 155M
    0.834 %
    -5.603 %
    28.34 %
    9.718 %
    2M 381K people
    1992
    $ 4B 328M
    $ 1,804.41
    $ 5,765.10
    $ 13B 829M
    2.778 %
    0.658 %
    26.81 %
    9.21 %
    2M 399K people
    1993
    $ 5B 440M
    $ 2,249.32
    $ 5,982.61
    $ 14B 469M
    2.211 %
    -3.382 %
    25.80 %
    9.059 %
    2M 419K people
    1994
    $ 5B 453M
    $ 2,234.80
    $ 6,170.60
    $ 15B 55M
    1.875 %
    1.497 %
    25.91 %
    10.162 %
    2M 440K people
    1995
    $ 6B 549M
    $ 2,660.15
    $ 6,400.53
    $ 15B 758M
    2.521 %
    -1.51 %
    23.62 %
    9.006 %
    2M 462K people
    1996
    $ 7B 394M
    $ 2,975.13
    $ 6,472.15
    $ 16B 85M
    0.236 %
    -1.929 %
    23.75 %
    4.429 %
    2M 485K people
    1997
    $ 8B 400M
    $ 3,347.37
    $ 6,413.24
    $ 16B 94M
    -1.641 %
    -3.955 %
    21.69 %
    1.511 %
    2M 509K people
    1998
    $ 8B 787M
    $ 3,467.54
    $ 6,344.44
    $ 16B 78M
    -1.21 %
    -3.799 %
    18.76 %
    4.729 %
    2M 534K people
    1999
    $ 8B 887M
    $ 3,473.43
    $ 6,435.23
    $ 16B 465M
    0.981 %
    -2.434 %
    18.69 %
    8.135 %
    2M 559K people