The Cayman Islands vs Panama: Economic Indicators Comparison

Panama with a GDP of $65.1B ranked the 75th largest economy in the world, while the Cayman Islands ranked 158th with $5.1B. By GDP per capita, Panama and the Cayman Islands ranked 61st vs 6th, respectively.

Gross Domestic Product & Income

Stat	Cayman Islands	Panama
GDP	$5.1B	$65.1B
GDP growth, 1 year	3.04%	3.9%
GDP growth, 5-years average	N/A	5%
Population	58k	4.1M
GDP per capita	$81k	$16k
GDP per capita growth	1.72%	1.94%
Purchasing Power Parity conversion factor	0.93	0.61
Price level ratio of PPP conversion factor GDP to market exchange rate	1.12	0.61
GDP per capita, PPP adjusted	$73k	$26k
GNI, Atlas method	$3B	$60B
GNI per capita	$47k	$14k
GNI, PPP adjusted	$2.8B	$98.4B
GNI per capita, PPP adjusted	$44k	$24k

Financial system and Human development

Stat	Cayman Islands	Panama
Income Tax Rate	N/A	25%
Corporate Tax Rate	N/A	25%
Inflation, consumer prices	-0.6%	0.8%
Inflation, GDP deflator	1.9%	0.7%
Unemployment	4.2%	3.9%
Economic Freedom Index	74	67.2
Personal Freedom Index	8.1	7.73
Human Freedom Index	8.1	7.53
Property Rights Index	N/A	58.8
Judical Effectiveness Index	N/A	30
Business Freedom Index	N/A	70.8
Fiscal Health Index	N/A	91.2
Labor Freedom Index	N/A	43.3
Investment Freedom Index	N/A	75
Financial Freedom Index	N/A	70
Trade Freedom Index	N/A	79.2
Monetary Freedom Index	N/A	79.4
Government Spending Index	N/A	85.7
Tax Burden Index	N/A	85.3
Government Integrity Index	N/A	37.2
Corruption Perceptions Index	76	37
Life expectancy at birth, years	82.2	78.1
Suicide mortality rate, per 100,000 people	0.5	4.3
Mortality caused by road traffic injury, per 100,000 people	14	14.3
Intentional homicides, per 100,000 people	8.5	9.7
International tourism, number of arrivals	463k	1.8M

Government debt & reserves

Stat	Cayman Islands	Panama
Central government debt, % of GDP	N/A	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	N/A	25.3%
Gross savings, % of GDP	N/A	29.1%
Gross capital formation, % of GDP	N/A	41.7%
Total reserves including gold	$162.1M	$2.1B
Foreign direct investment net inflows	$57.4B	$5.9B

Exports, imports and economic structure

Stat	Cayman Islands	Panama
Exports of goods and services, % of GDP	N/A	42.3%
Imports of goods and services, % of GDP	N/A	45.3%
Current account balance (balance of payments)	-$997.9M	-$6.8B
Revenue excluding grants, % of GDP	N/A	N/A
Grants excluding technical cooperation, BoP	$0	$22.3M
Personal remittances received	$15.6M	$537.9M
Industry including construction value added, % of GDP	7.2%	29.2%
Agriculture, forestry and fishing value added, % of GDP	0.4%	2.2%
Charges for the use of intellectual property, payments BoP	$68M	$39.4M
Charges for the use of intellectual property, receipts BoP	$9.3M	$21.7M
Expense, % of GDP	N/A	N/A
Government Expenditure, % of GDP	N/A	21.8%