Jamaica - Total debt service (% of exports of goods, services and primary income)

Total debt service (% of exports of goods, services and primary income) in Jamaica was 51.22 as of 2020. Its highest value over the past 44 years was 88.05 in 2015, while its lowest value was 13.91 in 1998.

Definition: Total debt service to exports of goods, services and primary income. Total debt service is the sum of principal repayments and interest actually paid in currency, goods, or services on long-term debt, interest paid on short-term debt, and repayments (repurchases and charges) to the IMF.

Source: World Bank, International Debt Statistics.

See also:

Year Value
1976 70.34
1977 28.41
1978 59.26
1979 24.86
1980 19.82
1981 25.60
1982 26.49
1983 29.95
1984 33.21
1985 40.54
1986 47.99
1987 46.02
1988 41.65
1989 32.12
1990 28.57
1991 30.90
1992 29.84
1993 21.73
1994 18.72
1995 18.92
1996 19.03
1997 17.79
1998 13.91
1999 16.65
2000 18.77
2001 20.91
2002 24.81
2003 22.51
2004 20.61
2005 22.53
2006 16.18
2007 23.57
2008 19.54
2009 34.95
2010 28.05
2011 36.67
2012 37.40
2013 26.42
2014 33.36
2015 88.05
2016 40.52
2017 27.27
2018 20.22
2019 36.44
2020 51.22

Development Relevance: External debt is that part of the total debt in a country that is owed to creditors outside the country. The debtors can be the government, corporations or private households. The debt includes money owed to private commercial banks, other governments, or international financial institutions. External indebtedness affects a country's creditworthiness and investor perceptions. Nonreporting countries might have outstanding debt with the World Bank, other international financial institutions, or private creditors. Total debt service is contrasted with countries' ability to obtain foreign exchange through exports of goods, services, primary income, and workers' remittances. Debt ratios are used to assess the sustainability of a country's debt service obligations, but no absolute rules determine what values are too high. Empirical analysis of developing countries' experience and debt service performance shows that debt service difficulties become increasingly likely when the present value of debt reaches 200 percent of exports. Still, what constitutes a sustainable debt burden varies by country. Countries with fast-growing economies and exports are likely to be able to sustain higher debt levels. Various indicators determine a sustainable level of external debt, including: a) debt to GDP ratio b) foreign debt to exports ratio c) government debt to current fiscal revenue ratio d) share of foreign debt e) short-term debt f) concessional debt in the total debt stock

Statistical Concept and Methodology: Data on external debt are gathered through the World Bank's Debtor Reporting System (DRS). Long term debt data are compiled using the countries report on public and publicly guaranteed borrowing on a loan-by-loan basis and private non guaranteed borrowing on an aggregate basis. These data are supplemented by information from major multilateral banks and official lending agencies in major creditor countries. Short-term debt data are gathered from the Quarterly External Debt Statistics (QEDS) database, jointly developed by the World Bank and the IMF and from creditors through the reporting systems of the Bank for International Settlements. Debt data are reported in the currency of repayment and compiled and published in U.S. dollars. End-of-period exchange rates are used for the compilation of stock figures (amount of debt outstanding), and projected debt service and annual average exchange rates are used for the flows. Exchange rates are taken from the IMF's International Financial Statistics. Debt repayable in multiple currencies, goods, or services and debt with a provision for maintenance of the value of the currency of repayment are shown at book value.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: The denominator for this indicator in previous versions of Global Development Finance included workers' remittances. Workers' remittances are no longer included.

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: External debt