Panama: Ready To Recover
Panama is looking to resume healthy growth post-Covid.
Panama GDP and Economic Data
Includes Panama real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Panama economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Panama best banks and safest banks are also available.
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Central bank
National Bank of Panama (Banco Nacional de Panamá)
International Reserves
USD 2.1 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
GDP (Purchasing Power Parity)
Intl$ 106.8 billion (2018, estimate)
Source
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 12.1% | 9.9% | 1.2% | 5.8% | 11.3% | 9.8% | 6.9% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 5.1% | 5.7% | 5% | 5.3% | 3.9% |
*Estimate
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GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2018* |
| 0.05% | 0.04% | 0.05% | 0.06% | 0.08% |
*Estimate
Source
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GDP - composition by sector
- agriculture: 2.2%
- industry: 29.2%
- services: 65.1%
(2016 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
|
0.1% |
0.7% | 0.9% | 0.8% | 0% |
*Estimate
Source
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 5.1% | 5.5% | 6.1% | 6% | 6.1% |
*Estimate
Source
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 37.4% | 37.3% | 37.5% | 39.5% | 41.3% |
*Estimate
Source
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| -2.3% | -1.8% | -1.9% | -2% | -3.1% |
*Estimate
Source
Government bond ratings
Standard & Poor's: BBB+
Moody's: Baa1
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| USD 13.6 billion | USD 15.0 billion | USD 15.6 billion |
Source
Current account balance by percentage of GDP
-7.8 % (2018 estimate)
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Exports as percent of GDP (Exports of goods and services)
42.3% (2017)
Shares in world total merchandising export
0.06% (2018)
Shares in world total commercial services export
0.24% (2018)
Export commodities
Fruit and nuts, fish, iron and steel waste, wood
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Import commodities
Fuels, machinery, vehicles, iron and steel rods, pharmaceuticals
Exports - major partners
US 18.9%, Netherlands 16.6%, China 6.5%, Costa Rica 5.4%, India 5.1%, Vietnam 5% (2017)
Imports - major partners
US 24.4%, China 9.8%, Mexico 4.9% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 4,866 million | USD 4,569 million | USD 5,549 million |
FDI outflows
| 2016 | 2017 | 2018 |
| USD 214 million | USD -62 million | USD 158 million |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 33.5 million | USD 4.9 million | USD -5.2 million | USD -3.2 million |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
86 out of 190 countries
Subcategories:
Starting a Business: 51 out of 190 countries
Dealing with Construction Permits: 100 out of 190 countries
Getting Electricity: 51 out of 190 countries
Registering Property: 87 out of 190 countries
Getting Credit: 25 out of 190 countries
Protecting Minority Investors: 88 out of 190 countries
Paying Taxes: 176 out of 190 countries
Trading across Borders: 59 out of 190 countries
Enforcing Contracts: 141 out of 190 countries
Resolving Insolvency: 113 out of 190 countries
Source
Global competitiveness ranking
66 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 50 / Score: 67.2 (Moderately free)
(100=totally free 0=totally repressed)
Source
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Languages
Spanish (official), indigenous languages (including Ngabere (or Guaymi), Buglere, Kuna, Embera, Wounaan, Naso (or Teribe), and Bri Bri), Panamanian English Creole (similar to Jamaican English Creole; a mixture of English and Spanish with elements of Ngabe
Total population
| 1990 | 2000 | 2010 | 2015 | 2020* |
| 2.47 million | 3.04 million | 3.66 million | 3.98 million | 4.28 million |
*Estimate
Source
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2018 |
| 41.2% | 50.4% | 62.2% | 67.7% |
Literacy
Total population: 95%
Male: 95.7%
Female: 94.4%
Definition: age 15 and over can read and write (2015 est.)
% of population living on less than $3.10 a day
6.3% (last available estimate, 2017)
Inequality of wealth distribution (Gini index)
49.9 (last available estimate, 2017)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Free
Political Rights: 1
Civil Liberties: 2 (2019)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed: 16.1% Mobile: 130.1% (2018)
(fixed-telephone subscribers and mobile-cellular subscribers)