Skip to content

Economy of Afghanistan vs Panama compared: GDP & Debt

Updated on by Georank team

Afghanistan has a GDP of $17.2B compared to $86.5B for Panama, ranking 137/197 and 78/197 by economy size, respectively.

Afghanistan has $1.44B in government debt (8.8% of GDP), compared to $49.6B (57.4% of GDP) in Panama.

Afghanistan vs Panama GDP by year

Afghanistan
Panama
1x
Year GDP, current $
Afghanistan Panama
2024 - $86,523,959,132
2023 $17,152,234,637 $83,812,155,244
2022 $14,497,243,872 $76,479,304,471
2021 $14,259,995,441 $67,396,392,506
2020 $19,955,929,052 $57,059,846,522
2019 $18,799,444,490 $69,778,991,193
2018 $18,053,222,687 $67,316,471,181
2017 $18,753,456,498 $64,327,688,826
2016 $18,116,572,395 $59,760,858,718
2015 $19,134,221,645 $55,767,806,073
2014 $20,497,128,556 $51,427,104,882
2013 $20,146,416,758 $46,949,496,479
2012 $19,907,329,778 $41,595,439,721
2011 $17,805,098,206 $35,687,738,252
2010 $15,856,668,556 $30,231,009,533
2009 $12,416,152,732 $27,791,215,547
2008 $10,109,297,048 $25,721,327,955
2007 $9,747,886,187 $21,717,433,808
2006 $6,971,758,282 $18,659,721,513
2005 $6,203,256,539 $16,623,906,739
2004 $5,224,896,719 $15,100,203,362
2003 $4,520,946,819 $13,603,456,003
2002 $3,825,701,439 $12,800,851,271
2001 $2,813,571,754 $12,252,906,341
2000 $3,521,418,060 $11,966,497,049
1999 - $11,660,704,777
1998 - $11,019,557,689
1997 - $10,058,854,386
1996 - $9,197,503,323
1995 - $9,573,813,700
1994 - $9,365,289,800
1993 - $8,782,585,400
1992 - $8,042,337,700
1991 - $7,074,675,500
1990 - $6,433,967,000
1989 - $5,918,469,800
1988 - $5,902,783,400
1987 - $6,827,665,300
1986 - $6,797,834,200
1985 - $6,541,517,100
1984 - $6,183,387,100
1983 - $5,923,755,900
1982 - $5,769,767,900
1981 - $5,222,421,500
1980 - $4,614,086,400
1979 - $3,704,551,600
1978 - $3,244,558,600
1977 - $2,738,261,900
1976 - $2,588,106,000
1975 - $2,435,304,100
1974 - $2,188,307,600
1973 - $1,913,793,400
1972 - $1,673,411,700
1971 - $1,523,917,200
1970 - $1,351,006,400
1969 - $1,221,305,700
1968 - $1,112,791,100
1967 - $1,034,376,400
1966 - $928,833,000
1965 - $852,485,300
1964 - $776,137,500
1963 - $722,784,500
1962 - $652,120,900
1961 - $599,026,300
1960 - $537,147,100

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/afghanistan/panama | CC BY

GDP per capita in Afghanistan vs Panama by year

Afghanistan
GDP per capita

GDP per capita, PPP
Panama
GDP per capita

GDP per capita, PPP
1x
Year Current $
Afghanistan Panama
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $19,161 $41,369
2023 $414 $2,202 $18,797 $39,813
2022 $357 $2,123 $17,379 $36,333
2021 $356 $2,144 $15,510 $30,933
2020 $511 $2,562 $13,291 $27,017
2019 $497 $2,583 $16,478 $33,240
2018 $491 $2,432 $16,151 $32,464
2017 $525 $2,336 $15,695 $33,533
2016 $522 $2,213 $14,832 $30,277
2015 $566 $2,284 $14,083 $27,245
2014 $625 $2,224 $13,213 $24,376
2013 $637 $2,133 $12,273 $21,924
2012 $651 $1,988 $11,065 $19,473
2011 $607 $1,744 $9,662 $17,474
2010 $561 $1,766 $8,331 $15,573
2009 $452 $1,571 $7,797 $14,766
2008 $382 $1,334 $7,348 $14,705
2007 $376 $1,287 $6,318 $13,333
2006 $274.2 $1,122 $5,529 $11,685
2005 $254.2 $1,076 $5,018 $10,511
2004 $221.8 $972 $4,645 $9,592
2003 $198.9 $967 $4,265 $8,801
2002 $179 $927 $4,091 $8,370
2001 $138.7 $748 $3,992 $8,197
2000 $174.9 $814 $3,975 $8,097
1999 - - $3,950 $7,749
1998 - - $3,808 $7,408
1997 - - $3,546 $6,895
1996 - - $3,308 $6,421
1995 - - $3,514 $6,182
1994 - - $3,508 $6,073
1993 - - $3,358 $5,902
1992 - - $3,140 $5,582
1991 - - $2,821 $5,150
1990 - - $2,620 $4,651
1989 - - $2,462 -
1988 - - $2,509 -
1987 - - $2,966 -
1986 - - $3,019 -
1985 - - $2,972 -
1984 - - $2,875 -
1983 - - $2,819 -
1982 - - $2,811 -
1981 - - $2,605 -
1980 - - $2,357 -
1979 - - $1,938 -
1978 - - $1,738 -
1977 - - $1,503 -
1976 - - $1,457 -
1975 - - $1,406 -
1974 - - $1,296 -
1973 - - $1,164 -
1972 - - $1,046 -
1971 - - $979 -
1970 - - $893 -
1969 - - $830 -
1968 - - $778 -
1967 - - $745 -
1966 - - $689 -
1965 - - $651 -
1964 - - $611 -
1963 - - $587 -
1962 - - $546 -
1961 - - $516 -
1960 - - $477 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/afghanistan/panama | CC BY

Afghanistan's GDP per capita is $414, ranking 196/197, compared to $19,161 in Panama, ranking 60/197. Adjusted for purchasing power (GDP per capita PPP), Afghanistan ranks 184th at $2,202, while Panama ranks 56th at $41,369.

Economic indicators

Afghanistan Panama
Gross domestic product
$17.2B
2023
$86.5B
2024
GDP rank
137/197
2023
78/197
2024
GDP growth
2.27%
2022-2023
2.75%
2023-2024
GDP per capita
$414
2023
$19,161
2024
GDP per capita rank
196/197
2023
60/197
2024
GDP per capita, PPP
$2,202
2023
$41,369
2024
GDP per capita PPP rank
184/197
2023
56/197
2024
Government debt
$1.44B
2023
$49.6B
2024
Debt-to-GDP ratio
8.8%
2024
57.4%
2024
Government debt per person
$34.8
2023
$10,995
2024
Government debt per person rank
185/185
2023
51/185
2024
Average annual personal income after taxes
$1,869
2026
$10,196
2026
Market capitalization of domestic companies n/a
$18.3B
2024
Income share by richest 10% n/a
37.6%
2024
Income share by poorest 10% n/a
1.2%
2024
Government expenditure, % of GDP
19.4%
2024
23.1%
2024
Consumer prices inflation
-4.3%
2023-2024
0.69%
2023-2024
Central bank interest rate
6%
2021
n/a
Unemployment rate
5.68%
2021
8.61%
2024
Population
45409324
4642198

Spending and national debt comparison by year

Afghanistan
Spending

Debt
Panama
Spending

Debt
1x
Year % of GDP
Afghanistan Panama
Government spending Government debt Government spending Government debt
2024 19.4% 8.8% 23.1% 57.4%
2023 17% 8.42% 21.4% 51.2%
2022 16.1% 10.8% 21.3% 52.7%
2021 17.9% 11.2% 23.8% 54.4%
2020 27.9% 7.33% 27.5% 61.5%
2019 28% 6.14% 20.6% 39.8%
2018 28.9% 7.38% 21.8% 35.6%
2017 27.7% 8% 21.2% 33.6%
2016 28% 8.44% 21.3% 33.6%
2015 25.9% 9.15% 21.4% 34.2%
2014 25.4% 8.7% 23% 34.7%
2013 25% 6.92% 23.4% 33.7%
2012 25% 6.77% 22.8% 34%
2011 21.9% 7.52% 23.5% 35.6%
2010 20.8% 7.71% 24.2% 38.1%
2009 21.2% 16.2% 22.7% 39.1%
2008 20.9% 19.1% 22.7% 40%
2007 21.4% 20.1% 21.8% 47.4%
2006 18.3% 23% 21.9% 54.7%
2005 15.7% 206.4% 22.4% 59.3%
2004 15.1% 245% 23.3% 58.8%
2003 11.9% 270.6% 24.2% 56.5%
2002 6.94% 346% 23.5% 57%
2001 - - 23.4% 57.8%
2000 - - 22.8% 53.6%
1999 - - 23% 55.1%
1998 - - 23.4% 58.1%
1997 - - 22.2% 60.2%
1996 - - 21.5% 65%
1995 - - 25.9% 76.6%
1994 - - 25.2% 78.3%
1993 - - 33.8% 83.6%
1992 - - 27.8% 91.2%
1991 - - 20.9% 103.7%
1990 - - 41.5% 112.7%
1989 - - 43% 104.4%
1988 - - 41.8% 105%
1987 - - 40.1% 92.2%
1986 - - 38.6% 84%
1985 - - 39.7% 82.5%
1984 - - 44% 82.5%
1983 - - 44.6% 86.6%
1982 - - 48% 80.9%
1981 - - 30.7% 68.7%
1980 - - 30.5% 69.4%
1979 - - 35% 78.9%
1978 - - 27.6% 83.1%
1977 - - 16.9% 77.7%
1976 - - 15.9% 69.7%
1975 - - 15.3% 52.6%
1974 - - 15.3% 37.6%
1973 - - 14.4% 32.6%
1972 - - 15.6% 29.5%
1971 - - 15% 26.2%
1970 - - 22.4% 25.7%
1969 - - 20.5% 23.2%
1968 - - 14.2% 18%
1967 - - 14.9% 17.8%
1966 - - 14% 17.9%
1965 - - 13.2% 18.7%
1964 - - 14.1% 20%
1963 - - 19.1% 22.6%
1962 - - 16.4% 19.8%
1961 - - 18.9% 20.5%
1960 - - 16.6% 21%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1993, retrieved 2026-02-20).

GeoRank.org/economy/afghanistan/panama | CC BY

In 2024, Afghanistan's government spending was $2.91B, accounting for 19.4% of its GDP, while Panama spent $20B, or 23.1% of GDP.

Debt-to-GDP ratio is 8.8% in Afghanistan and 57.4% in Panama, ranking 181/185 and 88/185, respectively.

Government deficit by year

Deficit/surplus
Afghanistan

Panama
1x
Year Deficit/surplus, % of GDP
Afghanistan Panama
2024 -0.54% -7.42%
2023 -1.33% -3.9%
2022 -1% -3.98%
2021 -0.48% -6.48%
2020 -2.24% -10.2%
2019 -1.06% -2.89%
2018 1.63% -2.88%
2017 -0.67% -1.92%
2016 0.13% -1.89%
2015 -1.38% -2.3%
2014 -1.72% -3.21%
2013 -0.63% -2.38%
2012 0.18% -1.31%
2011 -0.67% -1.96%
2010 0.93% -1.68%
2009 -1.76% -0.9%
2008 -3.86% 0.37%
2007 -2.46% 3.12%
2006 0.68% 0.51%
2005 -0.92% -2.21%
2004 -2.39% -4.33%
2003 -2.1% -2.27%
2002 -0.1% -0.96%
2001 - -0.42%
2000 - 2.05%
1999 - -0.65%
1998 - -1.11%
1997 - 1.24%
1996 - 2.48%
1995 - 2.3%
1994 - 2.12%
1993 - -9.4%
1992 - -2.62%
1991 - -0.6%
1990 - -3.65%
1989 - -13.6%
1988 - -13.5%
1987 - -1.7%
1986 - -1%
1985 - -2.57%
1984 - -7.56%
1983 - -7.62%
1982 - -13.3%
1981 - -6.77%
1980 - -5.17%
1979 - -12.1%
1978 - -5.21%
1977 - -1.61%
1976 - -2.65%
1975 - -0.74%
1974 - -0.6%
1973 - -0.01%
1972 - -1.17%
1971 - -0.51%
1970 - -8.02%
1969 - -7.56%
1968 - -1.5%
1967 - -1.97%
1966 - -1.18%
1965 - -1.17%
1964 - -2.51%
1963 - -6.71%
1962 - -3.01%
1961 - -5.45%
1960 - -3.05%
1959 - -3.79%
1958 - -1.62%
1957 - -0.89%
1956 - -3.69%
1955 - -1.33%
1954 - -0.2%
1953 - -0.55%
1952 - -3.84%
1951 - -2.54%
1950 - -3.89%
1949 - -1%
1948 - -1.21%
1947 - -1.94%
1946 - -3.19%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-02-20).

GeoRank.org/economy/afghanistan/panama | CC BY

In 2023, Afghanistan's government deficit, the difference between spending and revenue, was $228M, equivalent to 1.33% of GDP. This compares to Panama's deficit of $3.27B, or 3.9% of GDP.

Over the past 22 years, Afghanistan recorded a fiscal deficit in 17 of those years, while Panama ran a deficit in 19 years. On average, Afghanistan posted an annual deficit equal to 0.96% of GDP, compared to deficit of 2.44% of GDP for Panama.

Inflation comparison by year

Inflation
Afghanistan

Panama
1x
Year Consumer prices inflation
Afghanistan Panama
2024 -4.3% 0.69%
2023 -7.7% 1.49%
2022 10.6% 2.86%
2021 7.8% 1.63%
2020 5.6% -1.55%
2019 2.3% -0.36%
2018 0.6% 0.76%
2017 5% 0.88%
2016 4.4% 0.74%
2015 -0.7% 0.14%
2014 4.7% 2.63%
2013 7.4% 4.03%
2012 6.4% 5.7%
2011 11.8% 5.88%
2010 2.2% 3.49%
2009 -6.8% 2.41%
2008 26.4% 8.76%
2007 8.7% 4.17%
2006 6.8% 2.46%
2005 10.6% 2.86%
2004 16.4% 0.47%
2003 35.7% 0.39%
2002 - 1.01%
2001 - 0.31%
2000 - 1.5%
1999 - 1.25%
1998 - 0.56%
1997 - 1.32%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2003–2024, retrieved 2026-02-20).

GeoRank.org/economy/afghanistan/panama | CC BY

Over the past 22 years, Afghanistan has recorded an average annual inflation rate of 7%, compared with 2.3% in Panama. In 2024, inflation was -4.3% in Afghanistan and 0.69% in Panama.

Balance of trade

Afghanistan Panama
Current account balance
-$3.14B
2020
$1.67B
2024
Current account balance ranking
159/190
2020
51/190
2024
Current account balance, % of GDP
-15.7%
2020
+1.93%
2024
Goods imports
$5.88B
2020
$25.1B
2024
Goods exports
$777M
2020
$19.1B
2024
Service imports
$1.11B
2020
$5.75B
2024
Service exports
$700M
2020
$18.3B
2024
Imports of goods and services, % of GDP
50.7%
2023
39.3%
2024
Exports of goods and services, % of GDP
16.9%
2023
44.4%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Afghanistan Panama
Economic freedom 53 64.9
Economic freedom ranking 142/197 70/197
Property rights 3.6 56.7
Government integrity 13.5 37.4
Judicial effectiveness 0 49.6
Tax burden 92 86.1
Government spending 90.8 85.5
Fiscal health 98.4 51.8
Business freedom 33.7 72.6
Labor freedom 44.4 60.9
Monetary freedom 84.9 78.2
Trade freedom 68.6 80.2
Investment freedom 10 60
Financial freedom 10 60

Economic freedom comparison by year

Afghanistan
Panama
1x
Year Economic freedom index
Afghanistan Panama
2026 - 64.9
2025 - 65.5
2024 - 64.1
2023 - 63.8
2022 - 65.4
2021 53 66.2
2020 54.7 67.2
2019 51.5 67.2
2018 51.3 67
2017 48.9 66.3
2016 - 64.8
2015 - 64.1
2014 - 63.4
2013 - 62.5
2012 - 65.2
2011 - 64.9
2010 - 64.8
2009 - 64.7
2008 - 64.7
2007 - 64.6
2006 - 65.6
2005 - 64.3
2004 - 65.3
2003 - 68.4
2002 - 68.5
2001 - 70.6
2000 - 71.6
1999 - 72.6
1998 - 72.6
1997 - 72.4
1996 - 71.8
1995 - 71.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/afghanistan/panama | CC BY

The Economic Freedom Index for Afghanistan is 53, ranking 142/197, compared to 64.9 for Panama, ranking 70/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Afghanistan Panama
Services, % of GDP
46.4%
2023
69.3%
2024
Industry, % of GDP
13.4%
2023
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
34.7%
2023
2.68%
2024
GNI, Atlas method
$15.5B
2023
$81.3B
2024
GNI per capita, PPP
$2,210
2023
$39,260
2024
Total reserves including gold
$9.75B
2020
$6.86B
2024
Total reserves ranking
78/177
2020
88/177
2024
Net foreign direct investment
$24.3M
2020
-$2.38B
2024
Net inflows of foreign direct investment
$0
2024
$3.24B
2024
Net outflows of foreign direct investment
$0
2024
$865M
2024
Servicing debt to the IMF, % of GNI
0.25%
2023
n/a
Poverty at national poverty lines
47.1%
2019
21.7%
2023
Gross capital formation, % of GDP
15.3%
2023
33.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/afghanistan/panama | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.