Current account balance in Jamaica
Jamaica: Current account balance was 3.1% in 2024. ◆ Volatile
Current account balance in Jamaica, 1976–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
Jamaica recorded 3.1% for current account balance in 2024. That is the highest value across all 49 years on record.
That represents a change of up 16.1% on the previous year and up 138.5% over ten years.
Over the whole period, current account balance in Jamaica peaked at 3.1% in 2024 and was at its lowest, -20.4%, in 2008.
Jamaica ranks 53rd of 200 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Current account balance in Jamaica, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1976 | -8.9% | — |
| 1977 | -0.4% | -95.6% |
| 1978 | -0.8% | +110.0% |
| 1979 | -4.4% | +435.2% |
| 1980 | -5.1% | +15.7% |
| 1981 | -10.3% | +102.7% |
| 1982 | -11.5% | +11.5% |
| 1983 | -9.3% | -19.4% |
| 1984 | -13.1% | +42.0% |
| 1985 | -12.9% | -2.0% |
| 1986 | -0.6% | -95.5% |
| 1987 | -3.8% | +551.4% |
| 1988 | 1.2% | -132.7% |
| 1989 | -6.4% | -616.8% |
| 1990 | -6.8% | +6.0% |
| 1991 | -5.8% | -14.0% |
| 1992 | 0.8% | -113.8% |
| 1993 | -3.4% | -519.6% |
| 1994 | 1.5% | -144.2% |
| 1995 | -1.5% | -200.5% |
| 1996 | -1.9% | +28.3% |
| 1997 | -4.0% | +105.1% |
| 1998 | -3.8% | -3.9% |
| 1999 | -2.4% | -35.9% |
| 2000 | -4.1% | +67.6% |
| 2001 | -8.3% | +102.3% |
| 2002 | -11.1% | +33.9% |
| 2003 | -8.2% | -25.8% |
| 2004 | -4.9% | -39.9% |
| 2005 | -9.5% | +93.3% |
| 2006 | -9.9% | +4.1% |
| 2007 | -15.9% | +60.6% |
| 2008 | -20.4% | +28.0% |
| 2009 | -9.3% | -54.3% |
| 2010 | -7.1% | -24.1% |
| 2011 | -14.3% | +102.2% |
| 2012 | -9.7% | -31.9% |
| 2013 | -9.5% | -2.2% |
| 2014 | -8.0% | -15.7% |
| 2015 | -2.9% | -64.1% |
| 2016 | -0.3% | -89.9% |
| 2017 | -2.5% | +763.3% |
| 2018 | -1.4% | -44.7% |
| 2019 | -1.8% | +27.6% |
| 2020 | -1.0% | -41.1% |
| 2021 | 0.9% | -189.4% |
| 2022 | -0.7% | -177.5% |
| 2023 | 2.7% | -466.4% |
| 2024 | 3.1% | +16.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | -3.6% | -8.9% | -0.4% | 4 |
| 1980s | -7.2% | -13.1% | 1.2% | 10 |
| 1990s | -2.7% | -6.8% | 1.5% | 10 |
| 2000s | -10.2% | -20.4% | -4.1% | 10 |
| 2010s | -5.7% | -14.3% | -0.3% | 10 |
| 2020s | 1.0% | -1.0% | 3.1% | 5 |
Countries ranked near Jamaica
More economy & growth data for Jamaica
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.76 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.6 Percent per annum (2029)
- Agriculture, forestry, and fishing, value added (current LCU), annual 15.08 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 13.91 current LCU per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (current LCU), per 111,319 current LCU per person (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 2.93 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 0.0497 constant 2015 US$ per US$ of GDP (2025)
- Agriculture, forestry, and fishing, value added (constant 2015 US$) 397.73 constant 2015 US$ per person (2025)
- Agriculture, forestry, and fishing, value added (constant LCU) 2.93 % change on previous year (2025)
- Agriculture, forestry, and fishing, value added (constant LCU), per 5.81 constant LCU per US$ of GDP (2025)
Frequently asked questions
- What is current account balance in Jamaica?
- Current account balance in Jamaica was 3.1% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest current account balance recorded in Jamaica?
- The highest recorded value was 3.1% in 2024.
- What is the lowest current account balance recorded in Jamaica?
- The lowest recorded value was -20.4% in 2008.
- How does Jamaica rank for current account balance?
- Jamaica ranks 53rd out of 200 countries with data for 2024.
- Is current account balance rising or falling in Jamaica?
- Over the last ten years it is up 138.5%. The long-run trend across the full record is volatile.
- Where does this Jamaica data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Current account balance (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Balance of current transactions (transactions in goods and services, earned income and transfer income) between residents and non-residents. The term current account balance is used in the external accounts and is expressed from the perspective of resident units. The term current external balance is used in the national accounts and is expressed from the perspective of the non-resident units, and therefore with the opposite sign. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.