Jamaica: Government debt

* indicates monthly or quarterly data series

Government debt as percent of GDP

 Latest value 71.75
 Year 2023
 Measure percent
 Data availability 1999 - 2023
 Average 113.95
 Min - Max 71.75 - 143.90
 Source International Monetary Fund (IMF)
For that indicator, we provide data for Jamaica from 1999 to 2023. The average value for Jamaica during that period was 113.95 percent with a minimum of 71.75 percent in 2023 and a maximum of 143.9 percent in 2012. The latest value from 2023 is 71.75 percent. For comparison, the world average in 2023 based on 76 countries is 67.70 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series

Recent values chart
Jamaica - Government debt - Recent values chart

Historical chart
Jamaica - Government debt - historical chart - 1999-2023

The government debt in Jamaica and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 13.58 2019 percent
 Government spending, in dollars 2.15 2019 billion U.S. dollars
 Fiscal balance, percent of GDP 0.28 2023 percent
 Government debt 71.75 2023 percent
 Tax revenue 25.71 2020 percent
 Commercial tax rate 35.10 2019 percent
 Tax preparation time 268 2019 hours
 Number of taxes 11 2019 taxes
 Taxes on goods and services 45.81 2020 percent
 Taxes on international trade 8.83 2020 percent
 Income and profits taxes 33.24 2020 percent
 Foreign aid 58.45 2021 million U.S. dollars
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