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 67,376

millions

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%
   

Disclaimer

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

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