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%.

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.


Jamaica GDP from 1980 to 2024

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

Change Chart

    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