Taxes on goods and services in Jamaica
Jamaica: Taxes on goods and services was 45.8% in 2020. ▲ Rising
Taxes on goods and services in Jamaica, 1988–2020
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2020, taxes on goods and services in Jamaica stood at 45.8%.
Compared with earlier readings it is down 5.0% on the previous year and up 8.2% over ten years.
Over the whole period, taxes on goods and services in Jamaica peaked at 49.3% in 2017 and was at its lowest, 24.9%, in 1990.
Jamaica ranks 18th of 156 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 33 years of available data.
Taxes on goods and services in Jamaica, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1988 | 28.3% | — |
| 1989 | 25.0% | -11.8% |
| 1990 | 24.9% | -0.4% |
| 1991 | 27.1% | +8.8% |
| 1992 | 30.8% | +14.0% |
| 1993 | 36.0% | +16.7% |
| 1994 | 35.2% | -2.2% |
| 1995 | 37.2% | +5.8% |
| 1996 | 36.5% | -1.9% |
| 1997 | 36.8% | +0.8% |
| 1998 | 38.4% | +4.2% |
| 1999 | 36.4% | -5.0% |
| 2000 | 36.2% | -0.7% |
| 2001 | 38.1% | +5.3% |
| 2002 | 38.3% | +0.4% |
| 2003 | 38.0% | -0.6% |
| 2004 | 37.9% | -0.3% |
| 2005 | 37.6% | -0.8% |
| 2006 | 39.2% | +4.1% |
| 2007 | 36.6% | -6.5% |
| 2008 | 36.6% | -0.0% |
| 2009 | 37.0% | +1.0% |
| 2010 | 42.3% | +14.5% |
| 2011 | 43.1% | +1.8% |
| 2012 | 45.0% | +4.5% |
| 2013 | 43.9% | -2.5% |
| 2014 | 46.1% | +5.0% |
| 2015 | 47.3% | +2.5% |
| 2016 | 48.7% | +3.0% |
| 2017 | 49.3% | +1.2% |
| 2018 | 47.8% | -3.0% |
| 2019 | 48.2% | +0.9% |
| 2020 | 45.8% | -5.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 26.6% | 25.0% | 28.3% | 2 |
| 1990s | 33.9% | 24.9% | 38.4% | 10 |
| 2000s | 37.5% | 36.2% | 39.2% | 10 |
| 2010s | 46.2% | 42.3% | 49.3% | 10 |
| 2020s | 45.8% | 45.8% | 45.8% | 1 |
Countries ranked near Jamaica
More public sector data for Jamaica
- Arms imports 10.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 3.52 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0005 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 0 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 10.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 92.46 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0119 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 13.96 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 262.51 million current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 923.36 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on goods and services in Jamaica?
- Taxes on goods and services in Jamaica was 45.8% in 2020, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on goods and services recorded in Jamaica?
- The highest recorded value was 49.3% in 2017.
- What is the lowest taxes on goods and services recorded in Jamaica?
- The lowest recorded value was 24.9% in 1990.
- How does Jamaica rank for taxes on goods and services?
- Jamaica ranks 18th out of 156 countries with data for 2020.
- Is taxes on goods and services rising or falling in Jamaica?
- Over the last ten years it is up 8.2%. The long-run trend across the full record is rising.
- Where does this Jamaica data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on goods and services (% of revenue). Statizoid updates them automatically from the source API.
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About this data
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.