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Economy of Brunei vs Panama compared: GDP & Debt

Updated on by Georank

Brunei has a GDP of $15B compared to $90.5B for Panama, ranking 147/197 and 82/197 by economy size, respectively.

Brunei has $232M in government debt (1.54% of GDP), compared to $51.2B (56.6% of GDP) in Panama.

Brunei vs Panama GDP by year

Brunei
Panama
1x
Year GDP, current $
Brunei Panama
2025 $15,031,980,994 $90,462,600,000
2024 $15,340,808,592 $86,523,959,100
2023 $15,095,084,656 $83,812,155,200
2022 $16,681,536,467 $76,479,304,500
2021 $14,006,496,617 $67,396,392,500
2020 $12,005,799,654 $57,059,846,500
2019 $13,469,235,365 $69,778,991,200
2018 $13,566,908,391 $67,316,471,200
2017 $12,128,168,045 $64,327,688,800
2016 $11,400,266,045 $59,760,858,700
2015 $12,930,296,870 $55,767,806,100
2014 $17,097,797,386 $51,427,104,900
2013 $18,094,148,099 $46,949,496,500
2012 $19,048,443,341 $41,595,439,700
2011 $18,524,791,063 $35,687,738,300
2010 $13,707,121,038 $30,231,009,500
2009 $11,912,904,510 $27,791,215,500
2008 $15,926,456,515 $25,721,328,000
2007 $13,432,029,484 $21,717,433,800
2006 $12,644,616,419 $18,659,721,500
2005 $10,547,202,621 $16,623,906,700
2004 $8,619,178,774 $15,100,203,400
2003 $7,167,725,262 $13,603,456,000
2002 $6,333,082,876 $12,800,851,300
2001 $6,096,155,767 $12,252,906,300
2000 $6,570,999,088 $11,966,497,000
1999 $6,309,070,378 $11,660,704,800
1998 $5,550,846,020 $11,019,557,700
1997 $7,793,034,376 $10,058,854,400
1996 $7,663,377,306 $9,197,503,300
1995 $7,700,144,069 $9,573,813,700
1994 $6,467,782,518 $9,365,289,800
1993 $6,203,339,912 $8,782,585,400
1992 $6,327,966,435 $8,042,337,700
1991 $6,284,497,294 $7,074,675,500
1990 $6,039,881,087 $6,433,967,000
1989 $4,983,622,881 $5,918,469,800
1988 $4,535,130,305 $5,902,783,400
1987 $4,918,010,080 $6,827,665,300
1986 $4,190,280,003 $6,797,834,200
1985 $6,967,623,884 $6,541,517,100
1984 $7,632,788,075 $6,183,387,100
1983 $7,927,590,750 $5,923,755,900
1982 $8,932,198,186 $5,769,767,900
1981 $9,367,218,664 $5,222,421,500
1980 $10,795,432,294 $4,614,086,400
1979 $6,044,367,628 $3,704,551,600
1978 $4,100,423,674 $3,244,558,600
1977 $3,681,242,528 $2,738,261,900
1976 $3,054,765,590 $2,588,106,000
1975 $2,496,420,258 $2,435,304,100
1974 $2,319,576,214 $2,188,307,600
1973 $433,095,527 $1,913,793,400
1972 $270,822,782 $1,673,411,700
1971 $197,525,768 $1,523,917,200
1970 $179,078,929 $1,351,006,400
1969 $161,210,236 $1,221,305,700
1968 $160,818,236 $1,112,791,100
1967 $139,029,537 $1,034,376,400
1966 $132,757,528 $928,833,000
1965 $114,039,501 $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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Brunei vs Panama by year

Brunei
GDP per capita

GDP per capita, PPP
Panama
GDP per capita

GDP per capita, PPP
1x
Year Current $
Brunei Panama
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $32,235 - $19,790 -
2024 $33,153 $89,879 $19,161 $41,369
2023 $32,891 $85,033 $18,797 $39,813
2022 $36,633 $81,802 $17,379 $36,333
2021 $31,007 $78,249 $15,510 $30,933
2020 $26,834 $69,788 $13,291 $27,017
2019 $30,427 $69,354 $16,478 $33,240
2018 $30,988 $65,149 $16,151 $32,464
2017 $28,024 $61,658 $15,695 $33,533
2016 $26,663 $56,680 $14,832 $30,277
2015 $30,625 $62,708 $14,083 $27,245
2014 $41,027 $81,226 $13,213 $24,376
2013 $44,003 $83,237 $12,273 $21,924
2012 $46,969 $87,256 $11,065 $19,473
2011 $46,383 $82,735 $9,662 $17,474
2010 $34,938 $79,543 $8,331 $15,573
2009 $30,946 $77,957 $7,797 $14,766
2008 $42,157 $80,477 $7,348 $14,705
2007 $36,217 $83,693 $6,318 $13,333
2006 $34,675 $86,114 $5,529 $11,685
2005 $29,386 $81,534 $5,018 $10,511
2004 $24,423 $80,404 $4,645 $9,592
2003 $20,678 $79,632 $4,265 $8,801
2002 $18,621 $76,838 $4,091 $8,370
2001 $18,288 $74,254 $3,992 $8,197
2000 $20,130 $73,087 $3,975 $8,097
1999 $19,752 $70,585 $3,950 $7,749
1998 $17,769 $68,257 $3,808 $7,408
1997 $25,522 $73,980 $3,546 $6,895
1996 $25,692 $70,008 $3,308 $6,421
1995 $26,443 $70,440 $3,514 $6,182
1994 $22,767 $69,779 $3,508 $6,073
1993 $22,397 $69,387 $3,358 $5,902
1992 $23,451 $70,016 $3,140 $5,582
1991 $23,932 $72,610 $2,821 $5,150
1990 $23,659 $70,201 $2,620 $4,651
1989 $20,090 - $2,462 -
1988 $18,825 - $2,509 -
1987 $21,030 - $2,966 -
1986 $18,501 - $3,019 -
1985 $31,827 - $2,972 -
1984 $36,061 - $2,875 -
1983 $38,720 - $2,819 -
1982 $45,075 - $2,811 -
1981 $48,793 - $2,605 -
1980 $58,005 - $2,357 -
1979 $33,501 - $1,938 -
1978 $23,447 - $1,738 -
1977 $21,747 - $1,503 -
1976 $18,671 - $1,457 -
1975 $15,793 - $1,406 -
1974 $15,195 - $1,296 -
1973 $2,939 - $1,164 -
1972 $1,905 - $1,046 -
1971 $1,432 - $979 -
1970 $1,325 - $893 -
1969 $1,226 - $830 -
1968 $1,274 - $778 -
1967 $1,149 - $745 -
1966 $1,146 - $689 -
1965 $1,029 - $651 -
1964 - - $611 -
1963 - - $587 -
1962 - - $546 -
1961 - - $516 -
1960 - - $477 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Brunei's GDP per capita is $32,235, ranking 42/197, compared to $19,790 in Panama, ranking 62/197. Adjusted for purchasing power (GDP per capita PPP), Brunei ranks 9th at $89,879, while Panama ranks 56th at $41,369.

Economic indicators

Brunei Panama
Gross domestic product
$15B
2025
$90.5B
2025
GDP rank
147/197
2025
82/197
2025
GDP growth
0.67%
2024-2025
4.35%
2024-2025
GDP per capita
$32,235
2025
$19,790
2025
GDP per capita rank
42/197
2025
62/197
2025
GDP per capita, PPP
$89,879
2024
$41,369
2024
GDP per capita PPP rank
9/197
2024
56/197
2024
Government debt
$232M
2025
$51.2B
2025
Debt-to-GDP ratio
1.54%
2025
56.6%
2025
Government debt per person
$498
2025
$11,198
2025
Government debt per person rank
169/185
2025
56/185
2025
Average annual personal income after taxes
$25,392
2026
$11,056
2026
Market capitalization of domestic companies n/a
$27.2B
2025
Income share by richest 10% n/a
37.6%
2024
Income share by poorest 10% n/a
1.2%
2024
Government expenditure, % of GDP
29.9%
2025
20.9%
2025
Consumer prices inflation
-0.3%
2024-2025
-0.19%
2024-2025
Unemployment rate
4.87%
2024
8.31%
2025
Population
471596
4654479

Spending and national debt comparison by year

Brunei
Spending

Debt
Panama
Spending

Debt
1x
Year % of GDP
Brunei Panama
Government spending Government debt Government spending Government debt
2025 29.9% 1.54% 20.9% 56.6%
2024 30.3% 1.57% 23.1% 57.8%
2023 30.1% 1.67% 21.4% 54.4%
2022 26.1% 1.33% 21.3% 56.2%
2021 30.1% 1.43% 23.7% 58%
2020 32.8% 2.16% 27% 62.4%
2019 32.1% 1.82% 20.5% 42.5%
2018 32.9% 1.9% 21.7% 36.3%
2017 36.6% 2.58% 21.1% 34.3%
2016 39.8% 3% 21.3% 34%
2015 37% 2.95% 21.4% 34.1%
2014 34% 3.23% 22.9% 32.9%
2013 33.4% 2.21% 23.6% 30.8%
2012 31.1% 2.1% 23% 31.3%
2011 29.9% 2.13% 23.7% 35.9%
2010 25.5% 1.11% 24.4% 38.5%
2009 34.8% 1.11% 22.9% 39.5%
2008 27.2% 0.94% 23% 40.6%
2007 29.3% 0.68% 22.2% 48.2%
2006 28% 0.59% 22.4% 56.1%
2005 29.1% 0% 23.2% 61.5%
2004 33.2% 0% 24.4% 61.5%
2003 30.9% 0% 25.7% 59.9%
2002 41.4% 0% 25.1% 60.9%
2001 35.5% 0% 25.2% 62.1%
2000 37.5% 0% 24.7% 58%
1999 44.1% 0% 25.2% 60.4%
1998 45.4% 0% 25.9% 64.3%
1997 39% 0% 24.8% 67.3%
1996 36.9% 0% 24.3% 73.6%
1995 44% 0% 29.3% 86.7%
1994 47.1% 0% 28.5% 88.7%
1993 38% 0% 33.8% 83.6%
1992 34.1% 0% 27.8% 91.2%
1991 30.6% 0% 20.9% 103.7%
1990 32% 0% 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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1993, retrieved 2026-07-08).

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

In 2025, Brunei's government spending was $4.5B, accounting for 29.9% of its GDP, while Panama spent $18.9B, or 20.9% of GDP.

Debt-to-GDP ratio is 1.54% in Brunei and 56.6% in Panama, ranking 185/185 and 84/185, respectively.

Government deficit by year

Deficit/surplus
Brunei

Panama
1x
Year Deficit/surplus, % of GDP
Brunei Panama
2025 -13.4% -3.67%
2024 -12.9% -6.23%
2023 -8.62% -3.9%
2022 -0.25% -3.98%
2021 -8.34% -6.45%
2020 -16.2% -9.68%
2019 -4.16% -2.74%
2018 -2.9% -2.76%
2017 -13.8% -1.8%
2016 -16.7% -1.76%
2015 -11.4% -2.17%
2014 1.25% -3.04%
2013 10.4% -2.4%
2012 19.5% -1.32%
2011 21.5% -1.97%
2010 11.3% -1.69%
2009 3.61% -0.91%
2008 36.1% 0.38%
2007 3.12% 3.17%
2006 19.8% 0.53%
2005 16% -2.29%
2004 8.57% -4.54%
2003 8.06% -2.41%
2002 -4.61% -1.03%
2001 2.59% -0.45%
2000 6.86% 2.22%
1999 -18.3% -0.71%
1998 -24% -1.23%
1997 -11.8% 1.39%
1996 -8.7% 2.81%
1995 -19.8% 2.61%
1994 -22.6% 2.4%
1993 -12.8% -9.4%
1992 -8.28% -2.62%
1991 -1.06% -0.6%
1990 -1.63% -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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-07-08).

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

In 2025, Brunei's government deficit, the difference between spending and revenue, was $2.02B, equivalent to 13.4% of GDP. This compares to Panama's deficit of $3.32B, or 3.67% of GDP.

Over the past 36 years, Brunei recorded a fiscal deficit in 22 of those years, while Panama ran a deficit in 28 years. On average, Brunei posted an annual deficit equal to 2.04% of GDP, compared to deficit of 1.94% of GDP for Panama.

Inflation comparison by year

Inflation
Brunei

Panama
1x
Year Consumer prices inflation
Brunei Panama
2025 -0.3% -0.19%
2024 -0.39% 0.69%
2023 0.36% 1.49%
2022 3.68% 2.86%
2021 1.73% 1.63%
2020 1.94% -1.55%
2019 -0.39% -0.36%
2018 1.03% 0.76%
2017 -1.26% 0.88%
2016 -0.28% 0.74%
2015 -0.49% 0.14%
2014 -0.21% 2.63%
2013 0.39% 4.03%
2012 0.11% 5.7%
2011 0.14% 5.88%
2010 0.36% 3.49%
2009 1.04% 2.41%
2008 2.08% 8.76%
2007 0.97% 4.17%
2006 0.16% 2.46%
2005 1.24% 2.86%
2004 0.81% 0.47%
2003 0.3% 0.39%
2002 -2.31% 1.01%
2001 0.6% 0.31%
2000 1.56% 1.5%
1999 -0.42% 1.25%
1998 -0.44% 0.56%
1997 1.71% 1.32%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Brunei has recorded an average annual inflation rate of 0.47%, compared with 1.94% in Panama. In 2025, inflation was -0.3% in Brunei and -0.19% in Panama.

Top exports between countries

Brunei
Export category Export value
Chemicals & pharma $27K
Panama
Export category Export value
Textiles & consumer goods $18K
Chemicals & pharma $2K
Metals $1K
Raw materials & minerals $1K

Balance of trade

Brunei Panama
Current account balance
$2.71B
2025
-$169M
2025
Current account balance ranking
40/190
2025
91/190
2025
Current account balance, % of GDP
+18%
2025
-0.19%
2025
Goods imports
$6.28B
2025
$28.2B
2025
Goods exports
$10.3B
2025
$18.6B
2025
Service imports
$1.54B
2025
$5.91B
2025
Service exports
$463M
2025
$20.2B
2025
Imports of goods and services, % of GDP
52%
2025
39.3%
2024
Exports of goods and services, % of GDP
71.6%
2025
44.4%
2024

Economic freedom indices

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

Brunei Panama
Economic freedom 67.5 64.9
Economic freedom ranking 55/197 70/197
Property rights 66.1 56.7
Government integrity 60.4 37.4
Judicial effectiveness 48.6 49.6
Tax burden 95 86.1
Government spending 75.6 85.5
Fiscal health 39 51.8
Business freedom 75.3 72.6
Labor freedom 75.1 60.9
Monetary freedom 74.8 78.2
Trade freedom 84.6 80.2
Investment freedom 65 60
Financial freedom 50 60

Economic freedom comparison by year

Brunei
Panama
1x
Year Economic freedom index
Brunei Panama
2026 67.5 64.9
2025 67 65.5
2024 65.9 64.1
2023 65.7 63.8
2022 64.8 65.4
2021 66.6 66.2
2020 66.6 67.2
2019 65.1 67.2
2018 64.2 67
2017 69.8 66.3
2016 67.3 64.8
2015 68.9 64.1
2014 69 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 2026-07-08).

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

The Economic Freedom Index for Brunei is 67.5, ranking 55/197, 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

Brunei Panama
Services, % of GDP
40.2%
2025
70%
2025
Industry, % of GDP
60%
2025
24.9%
2025
Agriculture, forestry, and fishing, % of GDP
1.18%
2025
2.62%
2025
GNI, Atlas method
$16.2B
2025
$87.5B
2025
GNI per capita, PPP
$95,420
2025
$41,770
2025
Total reserves including gold
$5.49B
2025
$6.24B
2025
Total reserves ranking
100/177
2025
93/177
2025
Net foreign direct investment
-$157M
2025
-$1.81B
2025
Net inflows of foreign direct investment
$29.1M
2024
$2.09B
2024
Net outflows of foreign direct investment
$0
2024
$84.3M
2024
Poverty at national poverty lines n/a
21.7%
2023
Gross capital formation, % of GDP
27.1%
2025
33.5%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2020–2024, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.

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.