General Information
Due to its geographical position, the country holds a leading world ranking in maritime transport, logistics and port services, followed by a robust international financial center with assets of over US$120 billion.
(Sources: IMO, Superintendency of Banks of Panama)
Gross Domestic Product (GDP) | % of regional GDP | GDP per head |
USD 67,376millions |
1.3%
|
USD 16,042
|
Economic Statistics (years 2016 - forecast 2021)
National Accounts | 2016 | 2017 | 2018 | 2019 | f.2020 | f.2021 |
GDP growth (%) | 5.0% | 5.6% | 3.7% | 3.0% | -3.4% | 4.1% |
Nominal GDP (USD millions) | 57,958 | 62,284 | 65,055 | 67,376 | 65,000 | 67,580 |
GDP per Head (USD) | 14,490 | 15,191 | 15,489 | 16,042 | 15,116 | 15,359 |
Inflation (%) | 1.5% | 0.5% | 0.2% | -0.1% | -0.8% | 0.5% |
Fiscal Balance (% GDP) | -1.8% | -1.9% | -2.9% | -3.1% | -7.6% | -4.8% |
General Govt. gross debt (% GDP) | 37.3% | 38.1% | 39.4% | 46.0% | 52.9% | 54.5% |
![]() |
Trade Statistics
Foreign Trade - Composition | |||||
Exports | Imports | ||||
By countries | By countries | ||||
US | 17.9% | US | 24.4% | ||
Netherlands | 17.3% | China | 10.1% | ||
China | 7.5% | Mexico | 4.9% | ||
India | 6.1% | Costa Rica | 3.4% | ||
By products | By products | ||||
Manufactures | 92.5% | Manufactures | 90.6% | ||
Agricultural products | 6.8% | Agricultural products | 7.0% | ||
Fuels and mining prod. | 0.6% | Fuels and mining prod. | 1.5% |
![]() |
Balance of Payments (USD millions) | 2016 | 2017 | 2018 | 2019 | f.2020 | f.2021 |
Exports of Goods | 12,933 | 13,817 | 14,757 | 14,380 | 13,218 | 14,286 |
Exports growth (%) | -9.0% | 6.8% | 6.8% | -2.6% | -8.1% | 8.1% |
Imports of Goods | 20,694 | 22,286 | 23,963 | 22,255 | 19,679 | 20,815 |
Imports growth (%) | -8.2% | 7.7% | 7.5% | -7.1% | -11.6% | 5.8% |
Foreign Trade (% GDP) | 58% | 58% | 60% | 54% | 51% | 52% |
Current Account Balance | -4,505 | -3,692 | -5,355 | -3,500 | -4,605 | -3,335 |
% GDP | -7.8% | -5.9% | -8.2% | -5.2% | -7.1% | -4.9% |
Foreign Direct Investment | 5,248 | 3,977 | 5,945 | 6,068 | 4,551 | 5,461 |
% GDP | 9.1% | 6.4% | 9.1% | 9.0% | 7.0% | 8.1% |
![]() |