Georgia vs Panama: Economic Indicators Comparison

Panama with a GDP of $65.1B ranked the 75th largest economy in the world, while Georgia ranked 119th with $17.6B. By GDP 5-years average growth and GDP per capita, Panama and Georgia ranked 33rd vs 54th and 61st vs 111th, respectively.

Gross Domestic Product & Income

StatGeorgiaPanama
GDP$17.6B$65.1B
GDP growth, 1 year4.7%3.9%
GDP growth, 5-years average4%5%
Population3.7M4.1M
GDP per capita$4.7k$16k
GDP per capita growth4.72%1.94%
Purchasing Power Parity conversion factor10.61
Price level ratio of PPP conversion factor GDP to market exchange rate0.390.61
GDP per capita, PPP adjusted$11k$26k
GNI, Atlas method$16.6B$60B
GNI per capita$4.4k$14k
GNI, PPP adjusted$42.9B$98.4B
GNI per capita, PPP adjusted$12k$24k

Financial system and Human development

StatGeorgiaPanama
Income Tax Rate20%25%
Corporate Tax Rate15%25%
Inflation, consumer prices2.6%0.8%
Inflation, GDP deflator4.4%0.7%
Unemployment14.1%3.9%
Economic Freedom Index77.167.2
Personal Freedom Index7.47.73
Human Freedom Index7.487.53
Property Rights Index68.658.8
Judical Effectiveness Index57.930
Business Freedom Index85.370.8
Fiscal Health Index94.491.2
Labor Freedom Index76.343.3
Investment Freedom Index8075
Financial Freedom Index7070
Trade Freedom Index88.679.2
Monetary Freedom Index78.379.4
Government Spending Index73.685.7
Tax Burden Index87.185.3
Government Integrity Index64.837.2
Corruption Perceptions Index5837
Life expectancy at birth, years73.478.1
Suicide mortality rate, per 100,000 people8.24.3
Mortality caused by road traffic injury, per 100,000 people15.314.3
Intentional homicides, per 100,000 people19.7
International tourism, number of arrivals4.8M1.8M

Government debt & reserves

StatGeorgiaPanama
Central government debt, % of GDP44.5%39.4%
External debt stocks, % of GNI110.6%N/A
External debt stocks$17.1BN/A
Short-term debt, % of total reserves81.1%N/A
Total debt service, % of exports and primary income23.7%N/A
Adjusted net savings including particulate emission damage, % of GNI12.5%25.3%
Gross savings, % of GDP21%29.1%
Gross capital formation, % of GDP28.1%41.7%
Total reserves including gold$3.3B$2.1B
Foreign direct investment net inflows$1.2B$5.9B

Exports, imports and economic structure

StatGeorgiaPanama
Exports of goods and services, % of GDP50.6%42.3%
Imports of goods and services, % of GDP61.2%45.3%
Current account balance (balance of payments)-$1.2B-$6.8B
Revenue excluding grants, % of GDP23%N/A
Grants excluding technical cooperation, BoP$314.1M$22.3M
Personal remittances received$2B$537.9M
Industry including construction value added, % of GDP19.9%29.2%
Agriculture, forestry and fishing value added, % of GDP6.8%2.2%
Charges for the use of intellectual property, payments BoP$27.1M$39.4M
Charges for the use of intellectual property, receipts BoP$270k$21.7M
Expense, % of GDP21.4%N/A
Government Expenditure, % of GDP29.6%21.8%

Compare with countries close by GDP per capita

Georgia vs

CountryGDP
per capita
Population
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M

Panama vs

CountryGDP
per capita
Population
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
21.7k
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B