General Information

The country is a major exporter of bananas, petroleum and shrimp, which represent 73% of its exports. Other important export items are: seafood, flowers and cocoa, accounting for 13% of export sales.
(Source: Central Bank, Trademap)

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

USD 107,400

millions

2.1%

 

USD 6,208

 

Economic Statistics (years 2016 - forecast 2021)

National Accounts 2016 2017 2018 2019 f.2020 f.2021
             
GDP growth (%) -1.2% 2.4% 1.3% 0.1% -6.5% 3.8%
Nominal GDP (USD millions) 99,900 104,300 107,600 107,400 101,400 100,900
GDP per Head (USD) 6,055 6,208 6,329 6,208 5,761 5,669
Inflation (%) 1.7% 0.4% -0.2% 0.3% -0.3% 0.2%
Fiscal Balance (% GDP) -5.6% -5.9% -3.5% -4.3% -6.1% -5.7%
General Govt. gross debt (% GDP) 35.6% 41.3% 43.0% 45.3% 52.7% 57.1%
   

Trade Statistics

Foreign Trade - Composition        
           
Exports     Imports    
           
By countries     By countries  
US 30.6%   US   23.8%
Peru 7.5%   China   15.5%
China 6.9%   Colombia   8.3%
Chile 6.8%   Panama   7.4%
           
By products     By products  
Fuels and mining prod. 57.4%   Manufactures 66.2%
Agricultural products 34.5%   Fuels and mining prod. 24.4%
Manufactures 6.0%   Agricultural products 8.1%
   
Balance of Payments (USD millions) 2016 2017 2018 2019 f.2020 f.2021
             
Exports of Goods 17,425 19,619 22,123 22,774 14,867 17,389
Exports growth (%) -8.5% 12.6% 12.8% 2.9% -34.7% 17.0%
Imports of Goods 15,858 19,307 22,386 21,749 15,347 16,931
Imports growth (%) -23.4% 21.7% 15.9% -2.8% -29.4% 10.3%
Foreign Trade (% GDP) 33% 37% 41% 41% 30% 34%
             
Current Account Balance 1,321 -492 -1,488 -79 -2,191 -1,074
% GDP 1.3% -0.5% -1.4% -0.1% -2.2% -1.1%
Foreign Direct Investment 755 625 1,456 966 676 773
% GDP 0.8% 0.6% 1.4% 0.9% 0.7% 0.8%
   

 

Disclaimer

This presentation has been prepared by Banco Latinoamericano de Comercio Exterior, S.A. (“BLADEX”) for information purposes only.

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