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Government Finance of Jamaica

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Overview Economy Population Trade Government Finance Society Environment

Tax Revenue Composition

16.0% 10.5% 54.4%
  • Personal income taxes: 16.0%
  • Corporate income taxes: 10.5%
  • Social security contributions: 6.6%
  • Payroll taxes: 5.5%
  • Property taxes: 2.3%
  • Goods and services taxes: 54.4%
  • Other taxes: 0.3%
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Personal income taxes
16.0%
Corporate income taxes
10.5%
Social security contributions
6.6%
Payroll taxes
5.5%
Property taxes
2.3%
Goods and services taxes
54.4%
Other taxes
0.3%

Source: OECD Global Revenue Statistics Database, 2024.

Government Debt

Government Gross Debt (% of GDP) 65.8% #59 / 184 2026
Government Gross Debt (Local currency - JMD) 2.53T - 2026
Government Net Debt (% of GDP) No data - -
Government Net Debt (Local currency - JMD) No data - -

Fiscal Balance

Fiscal Balance (% of GDP) -4.9% #143 / 189 2026
Fiscal Balance (Local currency - JMD) -188B - 2026
Primary Fiscal Balance (% of GDP) 0.6% #44 / 182 2026
Primary Fiscal Balance (Local currency - JMD) 23.2B - 2026

Revenue and Spending

Government Revenue (% of GDP) 28.3% #84 / 189 2026
Government Revenue (Local currency - JMD) 1.09T - 2026
Government Spending (% of GDP) 33.1% #79 / 189 2026
Government Spending (Local currency - JMD) 1.27T - 2026

International Reserves

Total Reserves (USD) 5.63B #89 / 163 2024

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