Belgium vs Panama: Economic Indicators Comparison

Belgium with a GDP of $542.8B ranked the 24th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, Belgium and Panama ranked 146th vs 33rd and 20th vs 61st, respectively.

Gross Domestic Product & Income

Stat	Belgium	Panama
GDP	$542.8B	$65.1B
GDP growth, 1 year	1.4%	3.9%
GDP growth, 5-years average	1.5%	5%
Population	11.4M	4.1M
GDP per capita	$48k	$16k
GDP per capita growth	1.04%	1.94%
Purchasing Power Parity conversion factor	0.78	0.61
Price level ratio of PPP conversion factor GDP to market exchange rate	0.92	0.61
GDP per capita, PPP adjusted	$48k	$26k
GNI, Atlas method	$524.4B	$60B
GNI per capita	$46k	$14k
GNI, PPP adjusted	$591B	$98.4B
GNI per capita, PPP adjusted	$52k	$24k

Financial system and Human development

Stat	Belgium	Panama
Income Tax Rate	50%	25%
Corporate Tax Rate	29%	25%
Inflation, consumer prices	2.3%	0.8%
Inflation, GDP deflator	1.5%	0.7%
Unemployment	6.3%	3.9%
Economic Freedom Index	68.9	67.2
Personal Freedom Index	9.06	7.73
Human Freedom Index	8.28	7.53
Property Rights Index	84.5	58.8
Judical Effectiveness Index	62.5	30
Business Freedom Index	75.2	70.8
Fiscal Health Index	77	91.2
Labor Freedom Index	61.1	43.3
Investment Freedom Index	85	75
Financial Freedom Index	70	70
Trade Freedom Index	86.4	79.2
Monetary Freedom Index	80.5	79.4
Government Spending Index	17.2	85.7
Tax Burden Index	46.7	85.3
Government Integrity Index	80.2	37.2
Corruption Perceptions Index	75	37
Life expectancy at birth, years	81.4	78.1
Suicide mortality rate, per 100,000 people	20.7	4.3
Mortality caused by road traffic injury, per 100,000 people	5.8	14.3
Intentional homicides, per 100,000 people	1.7	9.7
International tourism, number of arrivals	9.1M	1.8M

Government debt & reserves

Stat	Belgium	Panama
Central government debt, % of GDP	101.4%	39.4%
External debt stocks, % of GNI	N/A	N/A
External debt stocks	N/A	N/A
Short-term debt, % of total reserves	N/A	N/A
Total debt service, % of exports and primary income	N/A	N/A
Adjusted net savings including particulate emission damage, % of GNI	12%	25.3%
Gross savings, % of GDP	24.5%	29.1%
Gross capital formation, % of GDP	25.5%	41.7%
Total reserves including gold	$26.9B	$2.1B
Foreign direct investment net inflows	-$62.8B	$5.9B

Exports, imports and economic structure

Stat	Belgium	Panama
Exports of goods and services, % of GDP	82.6%	42.3%
Imports of goods and services, % of GDP	82.7%	45.3%
Current account balance (balance of payments)	-$5.3B	-$6.8B
Revenue excluding grants, % of GDP	38.4%	N/A
Grants excluding technical cooperation, BoP	N/A	$22.3M
Personal remittances received	$12.3B	$537.9M
Industry including construction value added, % of GDP	19.1%	29.2%
Agriculture, forestry and fishing value added, % of GDP	0.5%	2.2%
Charges for the use of intellectual property, payments BoP	$3.7B	$39.4M
Charges for the use of intellectual property, receipts BoP	$4.4B	$21.7M
Expense, % of GDP	39.6%	N/A
Government Expenditure, % of GDP	52.5%	21.8%