Jamaica: Taxes on goods and services (% of revenue)

Key figures

What the numbers say

In 2020, Jamaica's taxes on goods and services (% of revenue) fell 2.43 percentage points on 2019 (from 48.24% to 45.81%).

Across the 30 yearly changes before that (1990 to 2019), the average change was +0.78 percentage points and a typical year strayed about 1.83 percentage points from that (the standard deviation). This year's change was 1.7 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

On record, the biggest yearly rise was 5.37 percentage points in 2010 and the biggest yearly fall was 3.35 percentage points in 1989. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2011 to 2020 the straight-line trend is upward, about 0.47 percentage points a year. A straight line explains 46% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2020, Jamaica had the 2nd highest value of the 10 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Jamaica in the 2020 ranking

• Honduras — 2nd of 10: 43.38%
• Mali — 3rd of 10: 39.27%
• Cabo Verde — 4th of 10: 36.17%

What this measures

General taxes on goods and services are taxes levied on the production, leasing, delivery, sale, purchase or other change of ownership of a wide range of goods and the provision of a wide range of services. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a median.

All 33 values

Taxes on goods and services (% of revenue) in nearby economies

• Argentina — 31.77% (2024)
• Bahamas, The — 58.67% (2024)
• Barbados — 45.88% (2016)
• Belize — 48.07% (2017)
• Brazil — 20.34% (2024)
• Chile — 47.01% (2024)
• Colombia — 24.34% (2024)
• Costa Rica — 25.63% (2024)
• Dominican Republic — 47.92% (2024)
• Ecuador — 21.07% (2022)

More public sector data for Jamaica

• Military expenditure (current USD) — 286.65 million (2025)
• Military expenditure (current LCU) — 45.62 billion (2025)
• Military expenditure (% of GDP) — 1.37% (2025)
• Military expenditure (% of general government expenditure) — 4.1% (2025)
• Intentional homicides (per 100,000 people) — 49.44 (2023)
• Net investment in nonfinancial assets (current LCU) — 49.18 billion (2020)
• Net investment in nonfinancial assets (% of GDP) — 2.3% (2020)
• Net lending (+) / net borrowing (-) (current LCU) — -60.51 billion (2020)
• Net lending (+) / net borrowing (-) (% of GDP) — -2.83% (2020)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Jamaica's taxes on goods and services (% of revenue)?

45.81% in 2020, according to the World Bank (World Development Indicators).

How has it changed since 1988?

It is up 17.49 percentage points from 28.32% in 1988. The highest value was 49.29% in 2017 and the lowest 24.87% in 1990.

How does Jamaica rank?

2nd highest of 10 economies with data for 2020.

Is the latest change in taxes on goods and services (% of revenue) unusual for Jamaica?

In 2020, Jamaica's taxes on goods and services (% of revenue) fell 2.43 percentage points on 2019 (from 48.24% to 45.81%). Across the 30 yearly changes before that (1990 to 2019), the average change was +0.78 percentage points and a typical year strayed about 1.83 percentage points from that (the standard deviation). This year's change was 1.7 standard deviations below that average, so it was larger than a typical year, though not out of the range seen before.

Source

World Bank, World Development Indicators, indicator GC.TAX.GSRV.RV.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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