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 61,799 

millions

1.2%

 

USD 12,360

 

 Economic Statistics (years 2016 - forecast 2021)

National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) 4.2% 3.9% 2.7% 2.1% -3.8% 3.3%
Nominal GDP (USD millions) 57,188 58,519 60,587 61,799 62,833 63,314
GDP per Head (USD) 11,671 11,943 12,117 12,360 12,320 12,415
Inflation (%) 0.8% 2.6% 2.0% 1.5% -2.5% 2.3%
Fiscal Balance (% GDP) -5.2% -6.1% -5.8% -6.9% -9.5% -7.3%
General Govt. gross debt (% GDP) 62.9% 64.1% 70.0% 73.8% 84.4% 90.4%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 41.7%   US   39.9%
Belgium 6.1%   China   13.7%
Netherlands 6.0%   Mexico   7.0%
Panama 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) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 10,100 10,808 11,474 11,623 10,854 11,594
Exports growth (%) 6.9% 7.0% 6.2% 1.3% -6.6% 6.8%
Imports of Goods 14,526 15,178 15,863 15,427 13,236 15,443
Imports growth (%) 3.3% 4.5% 4.5% -2.7% -14.2% 16.7%
Foreign Trade (% GDP) 43% 44% 45% 44% 38% 43%
             
Current Account Balance -1,257 -1,961 -1,999 -1,545 -3,063 -1,319
% GDP -2.2% -3.4% -3.3% -2.5% -4.9% -2.1%
Foreign Direct Investment 2,620 2,856 2,764 2,507 1,885 2,469
% GDP 4.6% 4.9% 4.6% 4.1% 3.0% 3.9%
   

 

Disclaimer

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