Colombia vs Panama: Economic Indicators Comparison

Colombia with a GDP of $331B ranked the 39th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, Colombia and Panama ranked 101st vs 33rd and 94th vs 61st, respectively.

Gross Domestic Product & Income

Stat	Colombia	Panama
GDP	$331B	$65.1B
GDP growth, 1 year	2.7%	3.9%
GDP growth, 5-years average	2.8%	5%
Population	49.1M	4.1M
GDP per capita	$6.7k	$16k
GDP per capita growth	1.02%	1.94%
Purchasing Power Parity conversion factor	1312.74	0.61
Price level ratio of PPP conversion factor GDP to market exchange rate	0.44	0.61
GDP per capita, PPP adjusted	$15k	$26k
GNI, Atlas method	$306.9B	$60B
GNI per capita	$6.2k	$14k
GNI, PPP adjusted	$718.9B	$98.4B
GNI per capita, PPP adjusted	$14k	$24k

Financial system and Human development

Stat	Colombia	Panama
Income Tax Rate	39%	25%
Corporate Tax Rate	33%	25%
Inflation, consumer prices	3.2%	0.8%
Inflation, GDP deflator	3.7%	0.7%
Unemployment	9.1%	3.9%
Economic Freedom Index	69.2	67.2
Personal Freedom Index	6.93	7.73
Human Freedom Index	6.78	7.53
Property Rights Index	61.1	58.8
Judical Effectiveness Index	32.8	30
Business Freedom Index	71.3	70.8
Fiscal Health Index	85.5	91.2
Labor Freedom Index	78	43.3
Investment Freedom Index	80	75
Financial Freedom Index	70	70
Trade Freedom Index	81.2	79.2
Monetary Freedom Index	77.5	79.4
Government Spending Index	77	85.7
Tax Burden Index	70.4	85.3
Government Integrity Index	46.1	37.2
Corruption Perceptions Index	36	37
Life expectancy at birth, years	76.9	78.1
Suicide mortality rate, per 100,000 people	7.2	4.3
Mortality caused by road traffic injury, per 100,000 people	18.5	14.3
Intentional homicides, per 100,000 people	24.9	9.7
International tourism, number of arrivals	3.9M	1.8M

Government debt & reserves

Stat	Colombia	Panama
Central government debt, % of GDP	50.5%	39.4%
External debt stocks, % of GNI	42.3%	N/A
External debt stocks	$134.9B	N/A
Short-term debt, % of total reserves	31.5%	N/A
Total debt service, % of exports and primary income	40.8%	N/A
Adjusted net savings including particulate emission damage, % of GNI	2.8%	25.3%
Gross savings, % of GDP	15.1%	29.1%
Gross capital formation, % of GDP	21.2%	41.7%
Total reserves including gold	$47.9B	$2.1B
Foreign direct investment net inflows	$11.5B	$5.9B

Exports, imports and economic structure

Stat	Colombia	Panama
Exports of goods and services, % of GDP	15.9%	42.3%
Imports of goods and services, % of GDP	20.8%	45.3%
Current account balance (balance of payments)	-$13B	-$6.8B
Revenue excluding grants, % of GDP	22.9%	N/A
Grants excluding technical cooperation, BoP	$741.3M	$22.3M
Personal remittances received	$6.4B	$537.9M
Industry including construction value added, % of GDP	26.7%	29.2%
Agriculture, forestry and fishing value added, % of GDP	6.3%	2.2%
Charges for the use of intellectual property, payments BoP	$471.4M	$39.4M
Charges for the use of intellectual property, receipts BoP	$105.6M	$21.7M
Expense, % of GDP	25.3%	N/A
Government Expenditure, % of GDP	27.7%	21.8%