Panama ranked 78/197 by economy size with a GDP of $86.5B and 60/197 by GDP per capita at $19,161. Panama has $49.6B in government debt, with a debt-to-GDP ratio of 57.4%.
In 2024, Panama made up 0.08% of the world's economy, compared to 0.04% in 1960.
Panama GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $86,523,959,132 | 2.75% |
| 2023 | $83,812,155,244 | 7.17% |
| 2022 | $76,479,304,471 | 11% |
| 2021 | $67,396,392,506 | 16.5% |
| 2020 | $57,059,846,522 | -17.8% |
| 2019 | $69,778,991,193 | 3.1% |
| 2018 | $67,316,471,181 | 3.92% |
| 2017 | $64,327,688,826 | 5.74% |
| 2016 | $59,760,858,718 | 4.57% |
| 2015 | $55,767,806,073 | 5.27% |
| 2014 | $51,427,104,882 | 4.63% |
| 2013 | $46,949,496,479 | 6.32% |
| 2012 | $41,595,439,721 | 9.63% |
| 2011 | $35,687,738,252 | 11.9% |
| 2010 | $30,231,009,533 | 6.07% |
| 2009 | $27,791,215,547 | 1.61% |
| 2008 | $25,721,327,955 | 10.2% |
| 2007 | $21,717,433,808 | 13.2% |
| 2006 | $18,659,721,513 | 9.86% |
| 2005 | $16,623,906,739 | 8.28% |
| 2004 | $15,100,203,362 | 8.18% |
| 2003 | $13,603,456,003 | 5.1% |
| 2002 | $12,800,851,271 | 2.51% |
| 2001 | $12,252,906,341 | 0.95% |
| 2000 | $11,966,497,049 | 4.21% |
| 1999 | $11,660,704,777 | 5.21% |
| 1998 | $11,019,557,689 | 8.39% |
| 1997 | $10,058,854,386 | 7.71% |
| 1996 | $9,197,503,323 | 4.08% |
| 1995 | $9,573,813,700 | 1.75% |
| 1994 | $9,365,289,800 | 2.85% |
| 1993 | $8,782,585,400 | 5.46% |
| 1992 | $8,042,337,700 | 8.2% |
| 1991 | $7,074,675,500 | 9.42% |
| 1990 | $6,433,967,000 | 8.1% |
| 1989 | $5,918,469,800 | 1.56% |
| 1988 | $5,902,783,400 | -13.4% |
| 1987 | $6,827,665,300 | -1.81% |
| 1986 | $6,797,834,200 | 3.57% |
| 1985 | $6,541,517,100 | 4.94% |
| 1984 | $6,183,387,100 | 2.71% |
| 1983 | $5,923,755,900 | -4.49% |
| 1982 | $5,769,767,900 | 5.35% |
| 1981 | $5,222,421,500 | 9.21% |
| 1980 | $4,614,086,400 | 13.1% |
| 1979 | $3,704,551,600 | 4.51% |
| 1978 | $3,244,558,600 | 9.79% |
| 1977 | $2,738,261,900 | 1.09% |
| 1976 | $2,588,106,000 | 1.66% |
| 1975 | $2,435,304,100 | 1.74% |
| 1974 | $2,188,307,600 | 2.45% |
| 1973 | $1,913,793,400 | 5.36% |
| 1972 | $1,673,411,700 | 4.58% |
| 1971 | $1,523,917,200 | 9.62% |
| 1970 | $1,351,006,400 | 6.96% |
| 1969 | $1,221,305,700 | 8.44% |
| 1968 | $1,112,791,100 | 6.98% |
| 1967 | $1,034,376,400 | 8.55% |
| 1966 | $928,833,000 | 7.58% |
| 1965 | $852,485,300 | 9.16% |
| 1964 | $776,137,500 | 4.43% |
| 1963 | $722,784,500 | 8.54% |
| 1962 | $652,120,900 | 8.24% |
| 1961 | $599,026,300 | 10.9% |
| 1960 | $537,147,100 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/panama | CC BY 
Panama GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $19,161 | $41,369 |
| 2023 | $18,797 | $39,813 |
| 2022 | $17,379 | $36,333 |
| 2021 | $15,510 | $30,933 |
| 2020 | $13,291 | $27,017 |
| 2019 | $16,478 | $33,240 |
| 2018 | $16,151 | $32,464 |
| 2017 | $15,695 | $33,533 |
| 2016 | $14,832 | $30,277 |
| 2015 | $14,083 | $27,245 |
| 2014 | $13,213 | $24,376 |
| 2013 | $12,273 | $21,924 |
| 2012 | $11,065 | $19,473 |
| 2011 | $9,662 | $17,474 |
| 2010 | $8,331 | $15,573 |
| 2009 | $7,797 | $14,766 |
| 2008 | $7,348 | $14,705 |
| 2007 | $6,318 | $13,333 |
| 2006 | $5,529 | $11,685 |
| 2005 | $5,018 | $10,511 |
| 2004 | $4,645 | $9,592 |
| 2003 | $4,265 | $8,801 |
| 2002 | $4,091 | $8,370 |
| 2001 | $3,992 | $8,197 |
| 2000 | $3,975 | $8,097 |
| 1999 | $3,950 | $7,749 |
| 1998 | $3,808 | $7,408 |
| 1997 | $3,546 | $6,895 |
| 1996 | $3,308 | $6,421 |
| 1995 | $3,514 | $6,182 |
| 1994 | $3,508 | $6,073 |
| 1993 | $3,358 | $5,902 |
| 1992 | $3,140 | $5,582 |
| 1991 | $2,821 | $5,150 |
| 1990 | $2,620 | $4,651 |
| 1989 | $2,462 | - |
| 1988 | $2,509 | - |
| 1987 | $2,966 | - |
| 1986 | $3,019 | - |
| 1985 | $2,972 | - |
| 1984 | $2,875 | - |
| 1983 | $2,819 | - |
| 1982 | $2,811 | - |
| 1981 | $2,605 | - |
| 1980 | $2,357 | - |
| 1979 | $1,938 | - |
| 1978 | $1,738 | - |
| 1977 | $1,503 | - |
| 1976 | $1,457 | - |
| 1975 | $1,406 | - |
| 1974 | $1,296 | - |
| 1973 | $1,164 | - |
| 1972 | $1,046 | - |
| 1971 | $979 | - |
| 1970 | $893 | - |
| 1969 | $830 | - |
| 1968 | $778 | - |
| 1967 | $745 | - |
| 1966 | $689 | - |
| 1965 | $651 | - |
| 1964 | $611 | - |
| 1963 | $587 | - |
| 1962 | $546 | - |
| 1961 | $516 | - |
| 1960 | $477 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/panama | CC BY
Panama has a GDP per capita of $19,161, ranking 60/197, a GDP per capita based on purchasing power parity (PPP) of $41,369, ranking 56/197, and a median annual after tax income of $10,196, ranking 77/197.
Panama GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 77 | 56 | 51 |
| 2023 | 74 | 58 | 52 |
| 2022 | 73 | 59 | 53 |
| 2021 | 77 | 59 | 54 |
| 2020 | 81 | 60 | 57 |
| 2019 | 73 | 57 | 48 |
| 2018 | 74 | 58 | 43 |
| 2017 | 76 | 56 | 42 |
| 2016 | 74 | 56 | 43 |
| 2015 | 77 | 56 | 46 |
| 2014 | 82 | 63 | 54 |
| 2013 | 85 | 67 | 60 |
| 2012 | 87 | 69 | 65 |
| 2011 | 89 | 71 | 68 |
| 2010 | 91 | 74 | 71 |
| 2009 | 91 | 71 | 72 |
| 2008 | 96 | 78 | 71 |
| 2007 | 95 | 79 | 75 |
| 2006 | 91 | 78 | 78 |
| 2005 | 90 | 77 | 76 |
| 2004 | 87 | 73 | 79 |
| 2003 | 87 | 71 | 82 |
| 2002 | 86 | 67 | 80 |
| 2001 | 86 | 68 | 79 |
| 2000 | 85 | 71 | 74 |
| 1999 | 84 | 67 | 74 |
| 1998 | 86 | 68 | 74 |
| 1997 | 88 | 74 | 75 |
| 1996 | 87 | 71 | 78 |
| 1995 | 85 | 68 | 77 |
| 1994 | 80 | 62 | 75 |
| 1993 | 83 | 62 | 76 |
| 1992 | 84 | 62 | 77 |
| 1991 | 89 | 64 | 82 |
| 1990 | 92 | 67 | 86 |
| 1989 | 82 | 63 | - |
| 1988 | 84 | 61 | - |
| 1987 | 76 | 53 | - |
| 1986 | 70 | 52 | - |
| 1985 | 72 | 50 | - |
| 1984 | 74 | 51 | - |
| 1983 | 74 | 51 | - |
| 1982 | 75 | 50 | - |
| 1981 | 78 | 53 | - |
| 1980 | 79 | 56 | - |
| 1979 | 79 | 57 | - |
| 1978 | 78 | 51 | - |
| 1977 | 84 | 52 | - |
| 1976 | 80 | 50 | - |
| 1975 | 79 | 50 | - |
| 1974 | 76 | 48 | - |
| 1973 | 73 | 45 | - |
| 1972 | 73 | 43 | - |
| 1971 | 72 | 44 | - |
| 1970 | 73 | 43 | - |
| 1969 | 71 | 34 | - |
| 1968 | 69 | 33 | - |
| 1967 | 70 | 34 | - |
| 1966 | 71 | 34 | - |
| 1965 | 72 | 35 | - |
| 1964 | 72 | 34 | - |
| 1963 | 70 | 33 | - |
| 1962 | 70 | 32 | - |
| 1961 | 71 | 31 | - |
| 1960 | 70 | 31 | - |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/panama | CC BY
Compared with 2000, in 2024 Panama is ranked 77th out of 182 by GDP (up from 85th), 56th by GDP per capita (up from 71st), and 51st by GDP per capita PPP (up from 74th).
Economic indicators
Panama
|
Rank | |
|---|---|---|
| Gross domestic product |
$86.5B
2024 |
78/197 |
| GDP growth |
2.75%
2023-2024 |
114/194 |
| GDP per capita |
$19,161
2024 |
60/197 |
| GDP per capita, PPP |
$41,369
2024 |
56/197 |
| Government debt |
$49.6B
2024 |
74/185 |
| Debt-to-GDP ratio |
57.4%
2024 |
88/185 |
| Government debt per person |
$10,995
2024 |
51/185 |
| Average annual personal income after taxes |
$10,196
2026 |
77/197 |
| Listed domestic companies |
36
2024 |
79/103 |
| Market capitalization of domestic companies |
$18.3B
2024 |
62/100 |
| Income share by richest 10% |
37.6%
2024 |
12/169 |
| Income share by poorest 10% |
1.2%
2024 |
164/169 |
| Government expenditure, % of GDP |
23.1%
2024 |
133/195 |
| Consumer prices inflation |
0.69%
2023-2024 |
178/195 |
| Unemployment rate |
8.61%
2024 |
48/196 |
| Population |
4642198
|
128/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 23.1% | 57.4% | -7.42% |
| 2023 | 21.4% | 51.2% | -3.9% |
| 2022 | 21.3% | 52.7% | -3.98% |
| 2021 | 23.8% | 54.4% | -6.48% |
| 2020 | 27.5% | 61.5% | -10.2% |
| 2019 | 20.6% | 39.8% | -2.89% |
| 2018 | 21.8% | 35.6% | -2.88% |
| 2017 | 21.2% | 33.6% | -1.92% |
| 2016 | 21.3% | 33.6% | -1.89% |
| 2015 | 21.4% | 34.2% | -2.3% |
| 2014 | 23% | 34.7% | -3.21% |
| 2013 | 23.4% | 33.7% | -2.38% |
| 2012 | 22.8% | 34% | -1.31% |
| 2011 | 23.5% | 35.6% | -1.96% |
| 2010 | 24.2% | 38.1% | -1.68% |
| 2009 | 22.7% | 39.1% | -0.9% |
| 2008 | 22.7% | 40% | 0.37% |
| 2007 | 21.8% | 47.4% | 3.12% |
| 2006 | 21.9% | 54.7% | 0.51% |
| 2005 | 22.4% | 59.3% | -2.21% |
| 2004 | 23.3% | 58.8% | -4.33% |
| 2003 | 24.2% | 56.5% | -2.27% |
| 2002 | 23.5% | 57% | -0.96% |
| 2001 | 23.4% | 57.8% | -0.42% |
| 2000 | 22.8% | 53.6% | 2.05% |
| 1999 | 23% | 55.1% | -0.65% |
| 1998 | 23.4% | 58.1% | -1.11% |
| 1997 | 22.2% | 60.2% | 1.24% |
| 1996 | 21.5% | 65% | 2.48% |
| 1995 | 25.9% | 76.6% | 2.3% |
| 1994 | 25.2% | 78.3% | 2.12% |
| 1993 | 33.8% | 83.6% | -9.4% |
| 1992 | 27.8% | 91.2% | -2.62% |
| 1991 | 20.9% | 103.7% | -0.6% |
| 1990 | 41.5% | 112.7% | -3.65% |
| 1989 | 43% | 104.4% | -13.6% |
| 1988 | 41.8% | 105% | -13.5% |
| 1987 | 40.1% | 92.2% | -1.7% |
| 1986 | 38.6% | 84% | -1% |
| 1985 | 39.7% | 82.5% | -2.57% |
| 1984 | 44% | 82.5% | -7.56% |
| 1983 | 44.6% | 86.6% | -7.62% |
| 1982 | 48% | 80.9% | -13.3% |
| 1981 | 30.7% | 68.7% | -6.77% |
| 1980 | 30.5% | 69.4% | -5.17% |
| 1979 | 35% | 78.9% | -12.1% |
| 1978 | 27.6% | 83.1% | -5.21% |
| 1977 | 16.9% | 77.7% | -1.61% |
| 1976 | 15.9% | 69.7% | -2.65% |
| 1975 | 15.3% | 52.6% | -0.74% |
| 1974 | 15.3% | 37.6% | -0.6% |
| 1973 | 14.4% | 32.6% | -0.01% |
| 1972 | 15.6% | 29.5% | -1.17% |
| 1971 | 15% | 26.2% | -0.51% |
| 1970 | 22.4% | 25.7% | -8.02% |
| 1969 | 20.5% | 23.2% | -7.56% |
| 1968 | 14.2% | 18% | -1.5% |
| 1967 | 14.9% | 17.8% | -1.97% |
| 1966 | 14% | 17.9% | -1.18% |
| 1965 | 13.2% | 18.7% | -1.17% |
| 1964 | 14.1% | 20% | -2.51% |
| 1963 | 19.1% | 22.6% | -6.71% |
| 1962 | 16.4% | 19.8% | -3.01% |
| 1961 | 18.9% | 20.5% | -5.45% |
| 1960 | 16.6% | 21% | -3.05% |
| 1959 | 16.5% | 18.8% | -3.79% |
| 1958 | 15.5% | 16.5% | -1.62% |
| 1957 | 13.5% | 14.3% | -0.89% |
| 1956 | 17.2% | 15.3% | -3.69% |
| 1955 | 15% | 13.3% | -1.33% |
| 1954 | 14.1% | 13.5% | -0.2% |
| 1953 | 14.1% | 14.1% | -0.55% |
| 1952 | 15.8% | 14.9% | -3.84% |
| 1951 | 14.7% | 13.1% | -2.54% |
| 1950 | 16.1% | 12.8% | -3.89% |
| 1949 | 13.3% | 10.6% | -1% |
| 1948 | 13.7% | 10.1% | -1.21% |
| 1947 | 15% | 8.68% | -1.94% |
| 1946 | 16.9% | 8.69% | -3.19% |
Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-02-20); International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20).
GeoRank.org/economy/panama | CC BY
This chart shows Panama's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, Panama recorded a fiscal deficit in 42 of them, with an average annual deficit equal to 3.29% of GDP. In 2024, government spending reached $20B (23.1% of GDP), with a deficit of 7.42%.
The national debt reached $49.6B, ranking 74th out of 185 countries by total size, with a debt-to-GDP ratio of 57.4%, ranking 88th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 0.69% |
| 2023 | 1.49% |
| 2022 | 2.86% |
| 2021 | 1.63% |
| 2020 | -1.55% |
| 2019 | -0.36% |
| 2018 | 0.76% |
| 2017 | 0.88% |
| 2016 | 0.74% |
| 2015 | 0.14% |
| 2014 | 2.63% |
| 2013 | 4.03% |
| 2012 | 5.7% |
| 2011 | 5.88% |
| 2010 | 3.49% |
| 2009 | 2.41% |
| 2008 | 8.76% |
| 2007 | 4.17% |
| 2006 | 2.46% |
| 2005 | 2.86% |
| 2004 | 0.47% |
| 2003 | 0.39% |
| 2002 | 1.01% |
| 2001 | 0.31% |
| 2000 | 1.5% |
| 1999 | 1.25% |
| 1998 | 0.56% |
| 1997 | 1.32% |
| 1996 | 1.26% |
| 1995 | 0.99% |
| 1994 | 1.27% |
| 1993 | 0.45% |
| 1992 | 1.82% |
| 1991 | 1.26% |
| 1990 | 0.77% |
| 1989 | 0.21% |
| 1988 | 0.36% |
| 1987 | 1% |
| 1986 | -0.07% |
| 1985 | 1.03% |
| 1984 | 1.58% |
| 1983 | 2.1% |
| 1982 | 4.25% |
| 1981 | 7.3% |
| 1980 | 13.8% |
| 1979 | 7.99% |
| 1978 | 4.2% |
| 1977 | 4.59% |
| 1976 | 3.95% |
| 1975 | 5.88% |
| 1974 | 16.3% |
| 1973 | 6.86% |
| 1972 | 5.41% |
| 1971 | 1.92% |
| 1970 | 3.08% |
| 1969 | 1.83% |
| 1968 | 1.62% |
| 1967 | 1.38% |
| 1966 | 0.19% |
| 1965 | 0.46% |
| 1964 | 2.41% |
| 1963 | 0.45% |
| 1962 | 0.79% |
| 1961 | 0.61% |
| 1960 | 0.05% |
Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).
GeoRank.org/economy/panama | CC BY
Over the past 20 years, Panama has had an average annual inflation rate of 2.48%. In 2024, inflation was 0.69%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Panama
|
Rank | |
|---|---|---|
|
Current account balance
|
$1.67B
2024 |
51/190 |
| Current account balance, % of GDP |
+1.93%
2024 |
58/190 |
| Goods imports |
$25.1B
2024 |
73/189 |
| Goods exports |
$19.1B
2024 |
80/189 |
| Service imports |
$5.75B
2024 |
87/189 |
| Service exports |
$18.3B
2024 |
50/189 |
| Imports of goods and services, % of GDP |
39.3%
2024 |
101/181 |
| Exports of goods and services, % of GDP |
44.4%
2024 |
64/193 |
Panama top 10 trading partners
Panama's biggest trading partner accounting for 20.8% of all exports and imports is China, with a trade balance between the two of -$6.49B: Panama exports $258M worth of goods and services to China and imports $6.75B.
Below is the list of the top 10 trade partners of Panama.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
China
|
$7.01B | 20.8% | $258M | $6.75B | Raw materials & minerals | Machinery & equipment |
| 2 |
United States
|
$6.16B | 18.3% | $1.16B | $4.99B | Chemicals & pharma | Chemicals & pharma |
| 3 |
Costa Rica
|
$1.56B | 4.64% | $1.06B | $503M | Chemicals & pharma | Processed food, beverages & tobacco |
| 4 |
Colombia
|
$1.28B | 3.82% | $841M | $442M | Machinery & equipment | Chemicals & pharma |
| 5 |
Mexico
|
$1.22B | 3.62% | $203M | $1.01B | Machinery & equipment | Chemicals & pharma |
| 6 |
Venezuela
|
$1.15B | 3.43% | $1.14B | $12.7M | Textiles & consumer goods | Machinery & equipment |
| 7 |
Guatemala
|
$1.13B | 3.37% | $852M | $282M | Chemicals & pharma | Chemicals & pharma |
| 8 |
Dominican Republic
|
$751M | 2.23% | $680M | $70M | Chemicals & pharma | Chemicals & pharma |
| 9 |
El Salvador
|
$733M | 2.18% | $612M | $120M | Chemicals & pharma | Chemicals & pharma |
| 10 |
Honduras
|
$658M | 1.96% | $601M | $57.1M | Chemicals & pharma | Processed food, beverages & tobacco |
Top 10 exports
|
Panama
|
Rank | |
|---|---|---|
| Transport & tourism services | $15.2B | 41/188 |
| Chemicals & pharma | $3.96B | 48/193 |
| Machinery & equipment | $3.65B | 60/193 |
| Textiles & consumer goods | $3.02B | 50/193 |
| Business & finance services | $1.61B | 67/188 |
| Processed food, beverages & tobacco | $954M | 82/192 |
| IT & IP services | $495M | 74/183 |
| Precious metals & jewellery | $370M | 80/190 |
| Metals | $323M | 101/192 |
| Animal & marine products | $244M | 88/192 |
Top 10 imports
|
Panama
|
Rank | |
|---|---|---|
| Machinery & equipment | $7.37B | 76/193 |
| Chemicals & pharma | $6.63B | 57/193 |
| Textiles & consumer goods | $4.25B | 55/193 |
| Transport & tourism services | $3.82B | 73/188 |
| Raw materials & minerals | $3.16B | 93/193 |
| Processed food, beverages & tobacco | $2.33B | 66/193 |
| Business & finance services | $1.12B | 84/188 |
| Metals | $934M | 100/193 |
| Raw agricultural goods | $547M | 106/193 |
| Precious metals & jewellery | $510M | 54/193 |
Economic freedom indices
|
Panama
|
Rank | |
|---|---|---|
| Economic freedom | 64.9 | 70/197 |
| Property rights | 56.7 | 73/182 |
| Government integrity | 37.4 | 107/182 |
| Judicial effectiveness | 49.6 | 81/182 |
| Tax burden | 86.1 | 52/182 |
| Government spending | 85.5 | 47/180 |
| Fiscal health | 51.8 | 130/181 |
| Business freedom | 72.6 | 53/182 |
| Labor freedom | 60.9 | 44/182 |
| Monetary freedom | 78.2 | 35/180 |
| Trade freedom | 80.2 | 23/181 |
| Investment freedom | 60 | 80/181 |
| Financial freedom | 60 | 57/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 64.9 | 49.6 | 86.1 | 85.5 | 51.8 |
| 2025 | 65.5 | 49.4 | 86.9 | 85.2 | 62.4 |
| 2024 | 64.1 | 51.2 | 85.9 | 82.6 | 21.1 |
| 2023 | 63.8 | 38.7 | 85.6 | 81.1 | 19.1 |
| 2022 | 65.4 | 50.7 | 85.5 | 81.9 | 40.7 |
| 2021 | 66.2 | 28.1 | 85.2 | 85.2 | 82.8 |
| 2020 | 67.2 | 30 | 85.3 | 85.7 | 91.2 |
| 2019 | 67.2 | 30.1 | 85 | 85.3 | 91.3 |
| 2018 | 67 | 29.4 | 85 | 84.1 | 86.1 |
| 2017 | 66.3 | 21.5 | 85.2 | 83.1 | 84.9 |
| 2016 | 64.8 | - | 84.4 | 77.9 | - |
| 2015 | 64.1 | - | 84.5 | 78.8 | - |
| 2014 | 63.4 | - | 84.3 | 78.7 | - |
| 2013 | 62.5 | - | 86.2 | 77.8 | - |
| 2012 | 65.2 | - | 84.6 | 88.2 | - |
| 2011 | 64.9 | - | 82.6 | 88.6 | - |
| 2010 | 64.8 | - | 82.6 | 90 | - |
| 2009 | 64.7 | - | 82.6 | 89.8 | - |
| 2008 | 64.7 | - | 83 | 89.1 | - |
| 2007 | 64.6 | - | 83 | 89.5 | - |
| 2006 | 65.6 | - | 81.3 | 88 | - |
| 2005 | 64.3 | - | 81.3 | 79.4 | - |
| 2004 | 65.3 | - | 81.2 | 76.5 | - |
| 2003 | 68.4 | - | 81.1 | 78.3 | - |
| 2002 | 68.5 | - | 80.9 | 76.5 | - |
| 2001 | 70.6 | - | 81 | 74.8 | - |
| 2000 | 71.6 | - | 77.7 | 78.1 | - |
| 1999 | 72.6 | - | 80.9 | 86.8 | - |
| 1998 | 72.6 | - | 80.7 | 87.3 | - |
| 1997 | 72.4 | - | 80.8 | 87.1 | - |
| 1996 | 71.8 | - | 77.6 | 85.2 | - |
| 1995 | 71.6 | - | 77.5 | 84 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).
GeoRank.org/economy/panama | CC BY
Panama is ranked 63/174 for economic freedom with a score of 64.9, compared to 42/162 and a score of 65.6 in 2006.
Other economic metrics
|
Panama
|
Rank | |
|---|---|---|
| Services, % of GDP |
69.3%
2024 |
27/191 |
| Industry, % of GDP |
25.5%
2024 |
81/194 |
| Agriculture, forestry, and fishing, % of GDP |
2.68%
2024 |
137/193 |
|
GNI, Atlas method
|
$81.3B
2024 |
74/194 |
| GNI per capita, PPP |
$39,260
2024 |
54/191 |
| Total reserves including gold |
$6.86B
2024 |
88/177 |
|
Net foreign direct investment
|
-$2.38B
2024 |
143/189 |
|
Net inflows of foreign direct investment
|
$3.24B
2024 |
57/193 |
|
Net outflows of foreign direct investment
|
$865M
2024 |
51/193 |
| Poverty at national poverty lines |
21.7%
2023 |
91/176 |
|
Gross capital formation, % of GDP
|
33.5%
2024 |
16/178 |
Compare Panama vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/panama | CC BY
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Data sources:
- World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-02-20)
- International Monetary Fund (IMF) | Fiscal Monitor (1994–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2022–2024, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
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.