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Panama vs Spain: Economic Indicators Comparison

Spain with a GDP of $1.4T ranked the 14th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, Spain and Panama ranked 104th vs 33rd and 34th vs 61st, respectively.

Gross Domestic Product & Income

StatPanamaSpain
GDP$65.1B$1.4T
GDP growth, 1 year3.9%2.5%
GDP growth, 5-years average5%2.7%
Population3.9M46.5M
GDP per capita$16k$30k
GDP per capita growth1.94%2.07%
Purchasing Power Parity conversion factor0.610.65
Price level ratio of PPP conversion factor GDP to market exchange rate0.610.76
GDP per capita, PPP adjusted$26k$40k
GNI, Atlas method$60B$1.4T
GNI per capita$14k$29k
GNI, PPP adjusted$98.4B$1.9T
GNI per capita, PPP adjusted$24k$40k

Financial system and Human development

StatPanamaSpain
Income Tax Rate25%45%
Corporate Tax Rate25%25%
Inflation, consumer prices0.8%1.7%
Inflation, GDP deflator0.7%1.1%
Unemployment3.9%15.5%
Economic Freedom Index67.266.9
Personal Freedom Index7.738.95
Human Freedom Index7.538.22
Property Rights Index58.874.9
Judical Effectiveness Index3051.8
Business Freedom Index70.866.8
Fiscal Health Index91.262.6
Labor Freedom Index43.357.7
Investment Freedom Index7585
Financial Freedom Index7070
Trade Freedom Index79.286.4
Monetary Freedom Index79.482
Government Spending Index85.748.3
Tax Burden Index85.362.1
Government Integrity Index37.255.1
Corruption Perceptions Index3758
Life expectancy at birth, years78.183.3
Suicide mortality rate, per 100,000 people4.38.7
Mortality caused by road traffic injury, per 100,000 people14.34.1
Intentional homicides, per 100,000 people9.70.7
International tourism, number of arrivals1.8M82.8M

Government debt & reserves

StatPanamaSpain
Central government debt, % of GDP39.4%97%
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%9.1%
Gross savings, % of GDP29.1%22.3%
Gross capital formation, % of GDP41.7%20.4%
Total reserves including gold$2.1B$70.6B
Foreign direct investment net inflows$5.9B$49.1B

Exports, imports and economic structure

StatPanamaSpain
Exports of goods and services, % of GDP42.3%35.1%
Imports of goods and services, % of GDP45.3%32.4%
Current account balance (balance of payments)-$6.8B$27.3B
Revenue excluding grants, % of GDPN/A15.7%
Grants excluding technical cooperation, BoP$22.3MN/A
Personal remittances received$537.9M$3.4B
Industry including construction value added, % of GDP29.2%20%
Agriculture, forestry and fishing value added, % of GDP2.2%2.8%
Charges for the use of intellectual property, payments BoP$39.4M$6.6B
Charges for the use of intellectual property, receipts BoP$21.7M$2.5B
Expense, % of GDPN/A18.8%
Government Expenditure, % of GDP21.8%41.5%

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

Spain vs

CountryGDP
per capita
Population
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
Brunei
$32k
418k
South Korea
$31k
51.1M
Malta
$30k
423k
Cyprus
$28k
1.14M
Slovenia
$26k
2.07M
Taiwan
$25k
23.6M
Bahrain
$24k
1.33M
Portugal
$23k
10.6M
Saudi Arabia
$23k
33M
Estonia
$23k
1.32M
Czech Republic
$23k
10.6M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.44M
Saint Kitts and Nevis
$19k
54.2k
Lithuania
$19k
2.79M