Panama: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Developing |
| Economic Trivia | Panama has prosperous transportation and logistics service sectors that contribute to its economy's high growth. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): United States, China, and Japan |
| Top Industries Source: CIA World Factbook | Construction; Brewing; Cement and Other Construction Materials; Sugar Milling |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $173,167,630,551 (2022) |
| GDP Growth Rate (annual %) | 10.809% (2022) |
| GDP Per Capita, PPP (current international) | $39,280 (2022) |
GDP Country Rank 80/197 (2022)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 2.857% (2022) |
| External debt stocks, total (DOD, current US$) | $108,866,240,275 (2020) |
| Total tax rate (% of commercial profits) | 37.2% (2019) |
| Real Interest Rate (5 year average %) | 4.352% (2022) |
| Manufacturing, value added (% of GDP) | 4.968% (2022) |
| Current Account Balance (BoP, current US$) | ($2,050,666,473) (2021) |
Labor and Employment [1]
| Labor Force, Total | 2,148,792 (2022) |
| Employment in Agriculture (% of total employment) | 15.665% (2021) |
| Employment in Industry (% of total employment) | 16.822% (2021) |
| Employment in Services (% of total employment) | 67.513% (2021) |
| Unemployment Rate | 8.789% (2022) |
Trade [1]
| Imports of goods and services (current US$) | $26,481,419,000 (2021) |
| Exports of goods and services (current US$) | $32,479,296,000 (2021) |
| Total Merchandise Trade (% of GDP) | 60.154% (2022) |
| FDI, net inflows (BoP, current US$) | $2,640,423,253 (2022) |
| Commercial Service Exports (current US$) | $10,581,615,470 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Panama’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.