Panama vs Somalia: Economic Indicators Comparison

Panama with a GDP of $65.1B ranked the 75th largest economy in the world, while Somalia ranked 159th with $4.7B. By GDP 5-years average growth and GDP per capita, Panama and Somalia ranked 33rd vs 97th and 61st vs 196th, respectively.

Gross Domestic Product & Income

Stat	Panama	Somalia
GDP	$65.1B	$4.7B
GDP growth, 1 year	3.9%	3.1%
GDP growth, 5-years average	5%	2.9%
Population	4.1M	11M
GDP per capita	$16k	$315
GDP per capita growth	1.94%	-2.74%
Purchasing Power Parity conversion factor	0.61	11427.68
Price level ratio of PPP conversion factor GDP to market exchange rate	0.61	N/A
GDP per capita, PPP adjusted	$26k	$500
GNI, Atlas method	$60B	$959.2M
GNI per capita	$14k	$130
GNI, PPP adjusted	$98.4B	N/A
GNI per capita, PPP adjusted	$24k	N/A

Financial system and Human development

Stat	Panama	Somalia
Income Tax Rate	25%	N/A
Corporate Tax Rate	25%	N/A
Inflation, consumer prices	0.8%	1.5%
Inflation, GDP deflator	0.7%	215.5%
Unemployment	3.9%	14%
Economic Freedom Index	67.2	29
Personal Freedom Index	7.73	3.6
Human Freedom Index	7.53	3.4
Property Rights Index	58.8	20.1
Judical Effectiveness Index	30	26.5
Business Freedom Index	70.8	31.6
Fiscal Health Index	91.2	N/A
Labor Freedom Index	43.3	N/A
Investment Freedom Index	75	N/A
Financial Freedom Index	70	N/A
Trade Freedom Index	79.2	N/A
Monetary Freedom Index	79.4	N/A
Government Spending Index	85.7	N/A
Tax Burden Index	85.3	N/A
Government Integrity Index	37.2	13.1
Corruption Perceptions Index	37	10
Life expectancy at birth, years	78.1	56.7
Suicide mortality rate, per 100,000 people	4.3	4.7
Mortality caused by road traffic injury, per 100,000 people	14.3	27.1
Intentional homicides, per 100,000 people	9.7	4.3
International tourism, number of arrivals	1.8M	N/A

Government debt & reserves

Stat	Panama	Somalia
Central government debt, % of GDP	39.4%	N/A
External debt stocks, % of GNI	N/A	39.4%
External debt stocks	N/A	$2.9B
Short-term debt, % of total reserves	N/A	847.9%
Total debt service, % of exports and primary income	N/A	47.6%
Adjusted net savings including particulate emission damage, % of GNI	25.3%	N/A
Gross savings, % of GDP	29.1%	N/A
Gross capital formation, % of GDP	41.7%	15.5%
Total reserves including gold	$2.1B	$23.1M
Foreign direct investment net inflows	$5.9B	$409M

Exports, imports and economic structure

Stat	Panama	Somalia
Exports of goods and services, % of GDP	42.3%	25.9%
Imports of goods and services, % of GDP	45.3%	99.6%
Current account balance (balance of payments)	-$6.8B	N/A
Revenue excluding grants, % of GDP	N/A	0%
Grants excluding technical cooperation, BoP	$22.3M	$1.5B
Personal remittances received	$537.9M	$21.7M
Industry including construction value added, % of GDP	29.2%	9.5%
Agriculture, forestry and fishing value added, % of GDP	2.2%	62.7%
Charges for the use of intellectual property, payments BoP	$39.4M	N/A
Charges for the use of intellectual property, receipts BoP	$21.7M	N/A
Expense, % of GDP	N/A	0%
Government Expenditure, % of GDP	21.8%	N/A