Panama vs the Philippines: Economic Indicators Comparison
The Philippines with a GDP of $330.9B ranked the 40th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, the Philippines and Panama ranked 21st vs 33rd and 134th vs 61st, respectively.
Gross Domestic Product & Income
| Stat |  Panama |  Philippines |
|---|---|---|
| GDP | $65.1B | $330.9B |
| GDP growth, 1 year | 3.9% | 6.2% |
| GDP growth, 5-years average | 5% | 6.4% |
| Population | 4.1M | 104.9M |
| GDP per capita | $16k | $3.1k |
| GDP per capita growth | 1.94% | 4.77% |
| Purchasing Power Parity conversion factor | 0.61 | 18.25 |
| Price level ratio of PPP conversion factor GDP to market exchange rate | 0.61 | 0.35 |
| GDP per capita, PPP adjusted | $26k | $8.9k |
| GNI, Atlas method | $60B | $408.8B |
| GNI per capita | $14k | $3.8k |
| GNI, PPP adjusted | $98.4B | $1.1T |
| GNI per capita, PPP adjusted | $24k | $11k |
Financial system and Human development
| Stat | Panama | Philippines |
|---|---|---|
| Income Tax Rate | 25% | 35% |
| Corporate Tax Rate | 25% | 30% |
| Inflation, consumer prices | 0.8% | 5.2% |
| Inflation, GDP deflator | 0.7% | 3.8% |
| Unemployment | 3.9% | 2.5% |
| Economic Freedom Index | 67.2 | 64.5 |
| Personal Freedom Index | 7.73 | 7.06 |
| Human Freedom Index | 7.53 | 6.92 |
| Property Rights Index | 58.8 | 54.6 |
| Judical Effectiveness Index | 30 | 34.2 |
| Business Freedom Index | 70.8 | 59.5 |
| Fiscal Health Index | 91.2 | 96.3 |
| Labor Freedom Index | 43.3 | 57.4 |
| Investment Freedom Index | 75 | 60 |
| Financial Freedom Index | 70 | 60 |
| Trade Freedom Index | 79.2 | 81.6 |
| Monetary Freedom Index | 79.4 | 66.9 |
| Government Spending Index | 85.7 | 87.9 |
| Tax Burden Index | 85.3 | 76.7 |
| Government Integrity Index | 37.2 | 38.7 |
| Corruption Perceptions Index | 37 | 36 |
| Life expectancy at birth, years | 78.1 | 71 |
| Suicide mortality rate, per 100,000 people | 4.3 | 3.2 |
| Mortality caused by road traffic injury, per 100,000 people | 14.3 | 12.3 |
| Intentional homicides, per 100,000 people | 9.7 | 8.4 |
| International tourism, number of arrivals | 1.8M | 7.2M |
Government debt & reserves
| Stat | Panama | Philippines |
|---|---|---|
| Central government debt, % of GDP | 39.4% | 39.6% |
| External debt stocks, % of GNI | N/A | 19.9% |
| External debt stocks | N/A | $78.8B |
| Short-term debt, % of total reserves | N/A | 20.3% |
| Total debt service, % of exports and primary income | N/A | 8.7% |
| Adjusted net savings including particulate emission damage, % of GNI | 25.3% | 28.5% |
| Gross savings, % of GDP | 29.1% | 42.4% |
| Gross capital formation, % of GDP | 41.7% | 26.9% |
| Total reserves including gold | $2.1B | $79.2B |
| Foreign direct investment net inflows | $5.9B | $9.8B |
Exports, imports and economic structure
| Stat | Panama | Philippines |
|---|---|---|
| Exports of goods and services, % of GDP | 42.3% | 31.7% |
| Imports of goods and services, % of GDP | 45.3% | 44.4% |
| Current account balance (balance of payments) | -$6.8B | -$8.7B |
| Revenue excluding grants, % of GDP | N/A | 16.3% |
| Grants excluding technical cooperation, BoP | $22.3M | $436.5M |
| Personal remittances received | $537.9M | $33.8B |
| Industry including construction value added, % of GDP | 29.2% | 30.7% |
| Agriculture, forestry and fishing value added, % of GDP | 2.2% | 9.3% |
| Charges for the use of intellectual property, payments BoP | $39.4M | $917M |
| Charges for the use of intellectual property, receipts BoP | $21.7M | $44.1M |
| Expense, % of GDP | N/A | 14.9% |
| Government Expenditure, % of GDP | 21.8% | 20.1% |
