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 61,799millions |
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% |
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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% |
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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% |
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