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Economy of Panama vs Tajikistan compared: GDP & Debt

Updated on by Georank

Panama has a GDP of $90.5B compared to $17.7B for Tajikistan, ranking 82/197 and 140/197 by economy size, respectively.

Panama has $51.2B in government debt (56.6% of GDP), compared to $3.82B (21.6% of GDP) in Tajikistan.

Panama vs Tajikistan GDP by year

Panama
Tajikistan
1x
Year GDP, current $
Panama Tajikistan
2025 $90,462,600,000 $17,660,626,562
2024 $86,523,959,100 $14,425,113,700
2023 $83,812,155,200 $12,244,169,293
2022 $76,479,304,500 $10,713,525,200
2021 $67,396,392,500 $8,937,805,347
2020 $57,059,846,500 $8,133,963,551
2019 $69,778,991,200 $8,300,813,599
2018 $67,316,471,200 $7,764,999,999
2017 $64,327,688,800 $7,536,402,853
2016 $59,760,858,700 $6,992,416,097
2015 $55,767,806,100 $8,271,431,485
2014 $51,427,104,900 $9,112,605,459
2013 $46,949,496,500 $8,448,411,318
2012 $41,595,439,700 $7,633,036,903
2011 $35,687,738,300 $6,522,756,255
2010 $30,231,009,500 $5,642,221,099
2009 $27,791,215,500 $4,979,472,364
2008 $25,721,328,000 $5,161,299,725
2007 $21,717,433,800 $3,719,524,541
2006 $18,659,721,500 $2,830,213,849
2005 $16,623,906,700 $2,312,352,021
2004 $15,100,203,400 $2,076,176,869
2003 $13,603,456,000 $1,555,318,261
2002 $12,800,851,300 $1,221,106,220
2001 $12,252,906,300 $1,080,772,551
2000 $11,966,497,000 $860,541,842
1999 $11,660,704,800 $1,086,612,290
1998 $11,019,557,700 $1,320,199,582
1997 $10,058,854,400 $921,518,033
1996 $9,197,503,300 $1,043,654,822
1995 $9,573,813,700 $1,231,561,860
1994 $9,365,289,800 $1,522,001,206
1993 $8,782,585,400 $1,646,623,195
1992 $8,042,337,700 $1,908,554,572
1991 $7,074,675,500 $2,536,585,366
1990 $6,433,967,000 $2,629,395,066
1989 $5,918,469,800 -
1988 $5,902,783,400 -
1987 $6,827,665,300 -
1986 $6,797,834,200 -
1985 $6,541,517,100 -
1984 $6,183,387,100 -
1983 $5,923,755,900 -
1982 $5,769,767,900 -
1981 $5,222,421,500 -
1980 $4,614,086,400 -
1979 $3,704,551,600 -
1978 $3,244,558,600 -
1977 $2,738,261,900 -
1976 $2,588,106,000 -
1975 $2,435,304,100 -
1974 $2,188,307,600 -
1973 $1,913,793,400 -
1972 $1,673,411,700 -
1971 $1,523,917,200 -
1970 $1,351,006,400 -
1969 $1,221,305,700 -
1968 $1,112,791,100 -
1967 $1,034,376,400 -
1966 $928,833,000 -
1965 $852,485,300 -
1964 $776,137,500 -
1963 $722,784,500 -
1962 $652,120,900 -
1961 $599,026,300 -
1960 $537,147,100 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

GDP per capita in Panama vs Tajikistan by year

Panama
GDP per capita

GDP per capita, PPP
Tajikistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Panama Tajikistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $19,790 - $1,637 -
2024 $19,161 $41,369 $1,362 $5,406
2023 $18,797 $39,813 $1,178 $4,964
2022 $17,379 $36,333 $1,052 $4,514
2021 $15,510 $30,933 $897 $3,986
2020 $13,291 $27,017 $834 $3,654
2019 $16,478 $33,240 $871 $3,460
2018 $16,151 $32,464 $834 $3,069
2017 $15,695 $33,533 $829 $3,017
2016 $14,832 $30,277 $789 $2,914
2015 $14,083 $27,245 $957 $2,975
2014 $13,213 $24,376 $1,082 $3,152
2013 $12,273 $21,924 $1,028 $2,919
2012 $11,065 $19,473 $952 $2,679
2011 $9,662 $17,474 $834 $2,456
2010 $8,331 $15,573 $737 $2,291
2009 $7,797 $14,766 $665 $2,171
2008 $7,348 $14,705 $703 $2,120
2007 $6,318 $13,333 $517 $1,966
2006 $5,529 $11,685 $401 $1,810
2005 $5,018 $10,511 $334 $1,673
2004 $4,645 $9,592 $306 $1,550
2003 $4,265 $8,801 $233.6 $1,396
2002 $4,091 $8,370 $187 $1,257
2001 $3,992 $8,197 $168.7 $1,139
2000 $3,975 $8,097 $136.9 $1,036
1999 $3,950 $7,749 $175 $947
1998 $3,808 $7,408 $213.7 $905
1997 $3,546 $6,895 $150.1 $855
1996 $3,308 $6,421 $172 $836
1995 $3,514 $6,182 $207 $1,006
1994 $3,508 $6,073 $261.3 $1,148
1993 $3,358 $5,902 $287.6 $1,454
1992 $3,140 $5,582 $338 $1,721
1991 $2,821 $5,150 $458 $2,417
1990 $2,620 $4,651 $487 $2,583
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 (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

Panama's GDP per capita is $19,790, ranking 62/197, compared to $1,637 in Tajikistan, ranking 163/197. Adjusted for purchasing power (GDP per capita PPP), Panama ranks 56th at $41,369, while Tajikistan ranks 157th at $5,406.

Economic indicators

Panama Tajikistan
Gross domestic product
$90.5B
2025
$17.7B
2025
GDP rank
82/197
2025
140/197
2025
GDP growth
4.35%
2024-2025
8.4%
2024-2025
GDP per capita
$19,790
2025
$1,637
2025
GDP per capita rank
62/197
2025
163/197
2025
GDP per capita, PPP
$41,369
2024
$5,406
2024
GDP per capita PPP rank
56/197
2024
157/197
2024
Government debt
$51.2B
2025
$3.82B
2025
Debt-to-GDP ratio
56.6%
2025
21.6%
2025
Government debt per person
$11,198
2025
$354
2025
Government debt per person rank
56/185
2025
174/185
2025
Average annual personal income after taxes
$11,056
2026
$1,705
2026
Market capitalization of domestic companies
$27.2B
2025
n/a
Income share by richest 10%
37.6%
2024
28.2%
2024
Income share by poorest 10%
1.2%
2024
2.9%
2024
Government expenditure, % of GDP
20.9%
2025
29.3%
2025
Consumer prices inflation
-0.19%
2024-2025
3.4%
2024-2025
Central bank interest rate n/a
7%
2026
Unemployment rate
8.31%
2025
0.08%
2016
Population
4654479
11080415

Spending and national debt comparison by year

Panama
Spending

Debt
Tajikistan
Spending

Debt
1x
Year % of GDP
Panama Tajikistan
Government spending Government debt Government spending Government debt
2025 20.9% 56.6% 29.3% 21.6%
2024 23.1% 57.8% 27.2% 24.9%
2023 21.4% 54.4% 28% 29.9%
2022 21.3% 56.2% 27.4% 31.8%
2021 23.7% 58% 27.6% 42%
2020 27% 62.4% 29.2% 50.9%
2019 20.5% 42.5% 28.8% 43.2%
2018 21.7% 36.3% 30.9% 46.3%
2017 21.1% 34.3% 33.8% 46.3%
2016 21.3% 34% 32.7% 42.2%
2015 21.4% 34.1% 31.9% 35%
2014 22.9% 32.9% 27.5% 27.9%
2013 23.6% 30.8% 27.7% 29.3%
2012 23% 31.3% 24.7% 32.5%
2011 23.7% 35.9% 24.3% 35.5%
2010 24.4% 38.5% 25.9% 36.8%
2009 22.9% 39.5% 23.6% 36.9%
2008 23% 40.6% 20.2% 30.2%
2007 22.2% 48.2% 20.3% 34.3%
2006 22.4% 56.1% 21.6% 36.8%
2005 23.2% 61.5% 22.9% 45.8%
2004 24.4% 61.5% 20.2% 49.4%
2003 25.7% 59.9% 19.1% 69.8%
2002 25.1% 60.9% 19.1% 98.3%
2001 25.2% 62.1% 17.3% 99.4%
2000 24.7% 58% 18.1% 111.4%
1999 25.2% 60.4% 17.5% 107.8%
1998 25.9% 64.3% 17.1% 96.6%
1997 24.8% 67.3% - -
1996 24.3% 73.6% - -
1995 29.3% 86.7% - -
1994 28.5% 88.7% - -
1993 33.8% 83.6% - -
1992 27.8% 91.2% - -
1991 20.9% 103.7% - -
1990 41.5% 112.7% - -
1989 43% 104.4% - -
1988 41.8% 105% - -
1987 40.1% 92.2% - -
1986 38.6% 84% - -
1985 39.7% 82.5% - -
1984 44% 82.5% - -
1983 44.6% 86.6% - -
1982 48% 80.9% - -
1981 30.7% 68.7% - -
1980 30.5% 69.4% - -
1979 35% 78.9% - -
1978 27.6% 83.1% - -
1977 16.9% 77.7% - -
1976 15.9% 69.7% - -
1975 15.3% 52.6% - -
1974 15.3% 37.6% - -
1973 14.4% 32.6% - -
1972 15.6% 29.5% - -
1971 15% 26.2% - -
1970 22.4% 25.7% - -
1969 20.5% 23.2% - -
1968 14.2% 18% - -
1967 14.9% 17.8% - -
1966 14% 17.9% - -
1965 13.2% 18.7% - -
1964 14.1% 20% - -
1963 19.1% 22.6% - -
1962 16.4% 19.8% - -
1961 18.9% 20.5% - -
1960 16.6% 21% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1993, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

In 2025, Panama's government spending was $18.9B, accounting for 20.9% of its GDP, while Tajikistan spent $5.17B, or 29.3% of GDP.

Debt-to-GDP ratio is 56.6% in Panama and 21.6% in Tajikistan, ranking 84/185 and 171/185, respectively.

Government deficit by year

Deficit/surplus
Panama

Tajikistan
1x
Year Deficit/surplus, % of GDP
Panama Tajikistan
2025 -3.67% -1.79%
2024 -6.23% 0.32%
2023 -3.9% -0.92%
2022 -3.98% -0.23%
2021 -6.45% -0.64%
2020 -9.68% -4.34%
2019 -2.74% -2.04%
2018 -2.76% -2.69%
2017 -1.8% -5.65%
2016 -1.76% -2.91%
2015 -2.17% -1.96%
2014 -3.04% 0.92%
2013 -2.4% -0.73%
2012 -1.32% 0.41%
2011 -1.97% 0.6%
2010 -1.69% -2.71%
2009 -0.91% -0.2%
2008 0.38% 1.94%
2007 3.17% 2.13%
2006 0.53% 2%
2005 -2.29% -2.83%
2004 -4.54% -2.32%
2003 -2.41% -1.74%
2002 -1.03% -2.4%
2001 -0.45% -2.11%
2000 2.22% -4.51%
1999 -0.71% -4.03%
1998 -1.23% -5.09%
1997 1.39% -
1996 2.81% -
1995 2.61% -
1994 2.4% -
1993 -9.4% -
1992 -2.62% -
1991 -0.6% -
1990 -3.65% -
1989 -13.6% -
1988 -13.5% -
1987 -1.7% -
1986 -1% -
1985 -2.57% -
1984 -7.56% -
1983 -7.62% -
1982 -13.3% -
1981 -6.77% -
1980 -5.17% -
1979 -12.1% -
1978 -5.21% -
1977 -1.61% -
1976 -2.65% -
1975 -0.74% -
1974 -0.6% -
1973 -0.01% -
1972 -1.17% -
1971 -0.51% -
1970 -8.02% -
1969 -7.56% -
1968 -1.5% -
1967 -1.97% -
1966 -1.18% -
1965 -1.17% -
1964 -2.51% -
1963 -6.71% -
1962 -3.01% -
1961 -5.45% -
1960 -3.05% -
1959 -3.79% -
1958 -1.62% -
1957 -0.89% -
1956 -3.69% -
1955 -1.33% -
1954 -0.2% -
1953 -0.55% -
1952 -3.84% -
1951 -2.54% -
1950 -3.89% -
1949 -1% -
1948 -1.21% -
1947 -1.94% -
1946 -3.19% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

In 2025, Panama's government deficit, the difference between spending and revenue, was $3.32B, equivalent to 3.67% of GDP. This compares to Tajikistan's deficit of $316M, or 1.79% of GDP.

Over the past 28 years, Panama recorded a fiscal deficit in 24 of those years, while Tajikistan ran a deficit in 21 years. On average, Panama posted an annual deficit equal to 2.24% of GDP, compared to deficit of 1.55% of GDP for Tajikistan.

Inflation comparison by year

Inflation
Panama

Tajikistan
1x
Year Consumer prices inflation
Panama Tajikistan
2025 -0.19% 3.4%
2024 0.69% 3.5%
2023 1.49% 3.7%
2022 2.86% 6.6%
2021 1.63% 9%
2020 -1.55% 8.6%
2019 -0.36% 7.8%
2018 0.76% 3.8%
2017 0.88% 7.3%
2016 0.74% 5.9%
2015 0.14% 5.8%
2014 2.63% 6.1%
2013 4.03% 5%
2012 5.7% 5.8%
2011 5.88% 12.4%
2010 3.49% 6.5%
2009 2.41% 6.4%
2008 8.76% 20.4%
2007 4.17% 13.2%
2006 2.46% 10%
2005 2.86% 7.3%
2004 0.47% 7.2%
2003 0.39% 16.4%
2002 1.01% 12.2%
2001 0.31% 38.6%
2000 1.5% 32.9%
1999 1.25% 27.5%
1998 0.56% 43.2%
1997 1.32% 88%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

Over the past 29 years, Panama has recorded an average annual inflation rate of 1.94%, compared with 14.6% in Tajikistan. In 2025, inflation was -0.19% in Panama and 3.4% in Tajikistan.

Balance of trade

Panama Tajikistan
Current account balance
-$169M
2025
$3.02B
2025
Current account balance ranking
91/190
2025
38/190
2025
Current account balance, % of GDP
-0.19%
2025
+17.1%
2025
Goods imports
$28.2B
2025
$7.45B
2025
Goods exports
$18.6B
2025
$1.95B
2025
Service imports
$5.91B
2025
$1.14B
2025
Service exports
$20.2B
2025
$168M
2025
Imports of goods and services, % of GDP
39.3%
2024
47.9%
2024
Exports of goods and services, % of GDP
44.4%
2024
11.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Panama Tajikistan
Economic freedom 64.9 52.5
Economic freedom ranking 70/197 147/197
Property rights 56.7 28.4
Government integrity 37.4 18.5
Judicial effectiveness 49.6 10.1
Tax burden 86.1 94.2
Government spending 85.5 77
Fiscal health 51.8 98.6
Business freedom 72.6 60.6
Labor freedom 60.9 43.4
Monetary freedom 78.2 72.6
Trade freedom 80.2 72.2
Investment freedom 60 25
Financial freedom 60 30

Economic freedom comparison by year

Panama
Tajikistan
1x
Year Economic freedom index
Panama Tajikistan
2026 64.9 52.5
2025 65.5 51.5
2024 64.1 51.3
2023 63.8 50.6
2022 65.4 49.7
2021 66.2 55.2
2020 67.2 52.2
2019 67.2 55.6
2018 67 58.3
2017 66.3 58.2
2016 64.8 51.3
2015 64.1 52.7
2014 63.4 52
2013 62.5 53.4
2012 65.2 53.4
2011 64.9 53.5
2010 64.8 53
2009 64.7 54.6
2008 64.7 54.4
2007 64.6 53.6
2006 65.6 52.6
2005 64.3 50.4
2004 65.3 48.7
2003 68.4 46.5
2002 68.5 47.3
2001 70.6 46.8
2000 71.6 44.8
1999 72.6 41.2
1998 72.6 41.1
1997 72.4 -
1996 71.8 -
1995 71.6 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

The Economic Freedom Index for Panama is 64.9, ranking 70/197, compared to 52.5 for Tajikistan, ranking 147/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Panama Tajikistan
Services, % of GDP
70%
2025
36.5%
2024
Industry, % of GDP
24.9%
2025
32.4%
2024
Agriculture, forestry, and fishing, % of GDP
2.62%
2025
23.1%
2024
GNI, Atlas method
$87.5B
2025
$22.4B
2025
GNI per capita, PPP
$41,770
2025
$8,240
2025
Total reserves including gold
$6.24B
2025
$4.31B
2025
Total reserves ranking
93/177
2025
109/177
2025
Net foreign direct investment
-$1.81B
2025
$8.2M
2025
Net inflows of foreign direct investment
$2.09B
2024
$291M
2024
Net outflows of foreign direct investment
$84.3M
2024
$101M
2024
Servicing debt to the IMF, % of GNI n/a
3.04%
2024
Poverty at national poverty lines
21.7%
2023
19.8%
2024
Gross capital formation, % of GDP
33.5%
2024
32.4%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/panama/tajikistan | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1946–1993, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)

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.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

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.