General Information

30% of exports are concentrated in items such as medical instruments and devices. On the other hand, foreign exchange earnings from tourism represent 19% of exports and 6.5% of GDP.
(Sources: Ministerio de Comercio Exterior, ICE)

Gross Domestic Product (GDP) % of regional GDP GDP per head

USD 60,154 

millions

1.1%

 

USD 12,031 

 

 Economic Statistics (years 2015 - forecast 2020)

National Accounts 2015 2016 2017 2018 f.2019 f.2020
             
GDP growth (%) 3.6% 4.2% 3.4% 2.7% 3.0% 2.8%
Nominal GDP (USD millions) 54,795 57,179 58,204 60,154 60,839 64,568
GDP per Head (USD) 11,416 11,669 11,878 12,031 12,168 12,914
Inflation (%) -0.8% 0.8% 2.6% 2.0% 3.8% 2.1%
Fiscal Balance (% GDP) -5.7% -5.2% -6.1% -5.9% -5.7% -6.0%
General Govt. gross debt (% GDP) 57.8% 62.9% 64.4% 70.5% 73.5% 76.1%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 41.7%   US   39.9%
Belgium 6.1%   China   13.7%
Panama 6.0%   Mexico   7.0%
Netherlands 5.2%   Guatemala   2.5%
           
By products     By products  
Manufactures 61.0%   Manufactures 73.8%
Agricultural products 36.1%   Fuels and mining prod. 14.7%
Fuels and mining prod. 1.5%   Agricultural products 11.4%
   
Balance of Payments (USD millions) 2015 2016 2017 2018 f.2019 f.2020
             
Exports of Goods 9,452 10,100 10,808 11,477 12,267 13,001
Exports growth (%) 0.0% 6.9% 7.0% 6.2% 6.9% 6.0%
Imports of Goods 14,060 14,526 15,150 15,871 16,732 17,762
Imports growth (%) -4.9% 3.3% 4.3% 4.8% 5.4% 6.2%
Foreign Trade (% GDP) 43% 43% 45% 45% 48% 48%
             
Current Account Balance -1,921 -1,257 -1,815 -1,878 -2,103 -2,471
% GDP -3.5% -2.2% -3.1% -3.1% -3.5% -3.8%
Foreign Direct Investment 2,956 2,620 2,856 2,735 2,920 2,841
% GDP 5.4% 4.6% 4.9% 4.5% 4.8% 4.4%
   

 

Disclaimer

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