Economic Trivia

Panama has prosperous transportation and logistics service sectors that contribute to its economy's high growth.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2016): United States, China, and Singapore
Top 3 Exported Goods (2016): Organic Chemicals, Pharmaceuticals, and Electrical Machinery

Top Industries Source: CIA World Factbook

Construction; Brewing; Cement and Other Construction Materials; Sugar Milling

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $100,500,908,265 (2017)
GDP Growth Rate (annual %) 5.321% (2017)
GDP Per Capita, PPP (current international) $24,521 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 85/195 (2017)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 0.876% (2017)
External debt stocks, total (DOD, current US$) $89,492,146,000 (2016)
Total tax rate (% of commercial profits) 37.2% (2018)
Real Interest Rate (5 year average %) 5.372% (2017)
Manufacturing, value added (% of GDP) 6.019% (2017)
Current Account Balance (BoP, current US$) ($4,940,700,000) (2017)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 2,014,910 (2018)
Employment in Agriculture (% of total employment) 14.344% (2018)
Employment in Industry (% of total employment) 18.58% (2018)
Employment in Services (% of total employment) 67.076% (2018)
Unemployment Rate 3.922% (2018)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $28,219,112,094 (2017)
Exports of goods and services (current US$) $26,320,762,472 (2017)
Total Merchandise Trade (% of GDP) 53.034% (2017)
FDI, net inflows (BoP, current US$) $4,826,400,000 (2017)
Commercial Service Exports (current US$) $13,303,300,000 (2017)
Click on a row to display its 5-year graph on the right.

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.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank