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Panama vs Singapore: Economic Indicators Comparison

Singapore with a GDP of $364.2B ranked the 36th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, Singapore and Panama ranked 76th vs 33rd and 10th vs 61st, respectively.

Gross Domestic Product & Income

StatPanamaSingapore
GDP$65.1B$364.2B
GDP growth, 1 year3.9%3.2%
GDP growth, 5-years average5%3.3%
Population3.9M5.9M
GDP per capita$16k$65k
GDP per capita growth1.94%2.66%
Purchasing Power Parity conversion factor0.610.86
Price level ratio of PPP conversion factor GDP to market exchange rate0.610.64
GDP per capita, PPP adjusted$26k$100k
GNI, Atlas method$60B$331.4B
GNI per capita$14k$59k
GNI, PPP adjusted$98.4B$533.8B
GNI per capita, PPP adjusted$24k$95k

Financial system and Human development

StatPanamaSingapore
Income Tax Rate25%22%
Corporate Tax Rate25%17%
Inflation, consumer prices0.8%0.4%
Inflation, GDP deflator0.7%1.9%
Unemployment3.9%3.8%
Economic Freedom Index67.289.4
Personal Freedom Index7.737.44
Human Freedom Index7.538.1
Property Rights Index58.896.8
Judical Effectiveness Index3092.9
Business Freedom Index70.892.8
Fiscal Health Index91.280
Labor Freedom Index43.390.9
Investment Freedom Index7585
Financial Freedom Index7080
Trade Freedom Index79.294.8
Monetary Freedom Index79.485.6
Government Spending Index85.791.1
Tax Burden Index85.390.3
Government Integrity Index37.292.4
Corruption Perceptions Index3785
Life expectancy at birth, years78.182.9
Suicide mortality rate, per 100,000 people4.39.9
Mortality caused by road traffic injury, per 100,000 people14.32.8
Intentional homicides, per 100,000 people9.70.2
International tourism, number of arrivals1.8M14.7M

Government debt & reserves

StatPanamaSingapore
Central government debt, % of GDP39.4%108.3%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI25.3%36.8%
Gross savings, % of GDP29.1%45.8%
Gross capital formation, % of GDP41.7%26.6%
Total reserves including gold$2.1B$292.7B
Foreign direct investment net inflows$5.9B$82B

Exports, imports and economic structure

StatPanamaSingapore
Exports of goods and services, % of GDP42.3%176.4%
Imports of goods and services, % of GDP45.3%149.8%
Current account balance (balance of payments)-$6.8B$65.1B
Revenue excluding grants, % of GDPN/A18.8%
Grants excluding technical cooperation, BoP$22.3M$1.6M
Personal remittances received$537.9MN/A
Industry including construction value added, % of GDP29.2%25.2%
Agriculture, forestry and fishing value added, % of GDP2.2%0%
Charges for the use of intellectual property, payments BoP$39.4M$15.2B
Charges for the use of intellectual property, receipts BoP$21.7M$8.7B
Expense, % of GDPN/A15.2%
Government Expenditure, % of GDP21.8%17.2%

Compare with countries close by GDP per capita

Panama vs

CountryGDP
per capita
Population
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M
Barbados
$18k
285k
Latvia
$18k
1.95M
Uruguay
$17k
3.41M
Trinidad and Tobago
$17k
1.34M
Antigua and Barbuda
$17k
101k
Seychelles
$16k
95.8k
Oman
$16k
3.63M
Hungary
$16k
9.97M
Venezuela
$16k
28.5M
Chile
$16k
18.1M
Palau
$16k
20.9k
Poland
$15k
38.5M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.87M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
345k
Equatorial Guinea
$10k
1.22M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18M
China
$9.8k
1.41B

Singapore vs

CountryGDP
per capita
Population
Monaco
$186k
37.8k
Liechtenstein
$165k
37.9k
Luxembourg
$117k
614k
Switzerland
$83k
8.21M
Norway
$82k
5.33M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.17M
United States
$63k
325M
Denmark
$61k
5.83M
Australia
$57k
23.4M
Sweden
$55k
10.3M
Netherlands
$53k
17.2M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
31.6k
Germany
$48k
83M
Belgium
$48k
11.2M
Canada
$46k
35.7M
United Arab Emirates
$43k
9.35M
United Kingdom
$43k
65.1M
Andorra
$42k
76.2k
New Zealand
$42k
4.89M
Israel
$42k
8.89M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.6M
Kuwait
$34k
4.66M
Bahamas
$32k
377k