Panama vs Venezuela: Economic Indicators Comparison

Venezuela with a GDP of $482.4B ranked the 27th largest economy in the world, while Panama ranked 75th with $65.1B. By GDP 5-years average growth and GDP per capita, Venezuela and Panama ranked 181st vs 33rd and 58th vs 61st, respectively.

Gross Domestic Product & Income

StatPanamaVenezuela
GDP$65.1B$482.4B
GDP growth, 1 year3.9%-18%
GDP growth, 5-years average5%-12.2%
Population4.1M28.5M
GDP per capita$16k$16k
GDP per capita growth1.94%-18.17%
Purchasing Power Parity conversion factor0.615.57
Price level ratio of PPP conversion factor GDP to market exchange rate0.610.89
GDP per capita, PPP adjusted$26k$8.8k
GNI, Atlas method$60B$392.9B
GNI per capita$14k$13k
GNI, PPP adjusted$98.4B$352.8B
GNI per capita, PPP adjusted$24k$12k

Financial system and Human development

StatPanamaVenezuela
Income Tax Rate25%34%
Corporate Tax Rate25%34%
Inflation, consumer prices0.8%929789.5%
Inflation, GDP deflator0.7%748.1%
Unemployment3.9%8.4%
Economic Freedom Index67.225.2
Personal Freedom Index7.736.33
Human Freedom Index7.535.27
Property Rights Index58.810.1
Judical Effectiveness Index3012.6
Business Freedom Index70.830.8
Fiscal Health Index91.20
Labor Freedom Index43.327.7
Investment Freedom Index750
Financial Freedom Index7010
Trade Freedom Index79.258
Monetary Freedom Index79.40
Government Spending Index85.766.3
Tax Burden Index85.372.8
Government Integrity Index37.214.6
Corruption Perceptions Index3718
Life expectancy at birth, years78.172.2
Suicide mortality rate, per 100,000 people4.33.7
Mortality caused by road traffic injury, per 100,000 people14.333.7
Intentional homicides, per 100,000 people9.756.3
International tourism, number of arrivals1.8M427k

Government debt & reserves

StatPanamaVenezuela
Central government debt, % of GDP39.4%175.6%
External debt stocks, % of GNIN/A33.9%
External debt stocksN/A$154.9B
Short-term debt, % of total reservesN/A421.1%
Total debt service, % of exports and primary incomeN/A69%
Adjusted net savings including particulate emission damage, % of GNI25.3%7.2%
Gross savings, % of GDP29.1%8.9%
Gross capital formation, % of GDP41.7%-3.7%
Total reserves including gold$2.1B$9.8B
Foreign direct investment net inflows$5.9B$956M

Exports, imports and economic structure

StatPanamaVenezuela
Exports of goods and services, % of GDP42.3%30.7%
Imports of goods and services, % of GDP45.3%36.4%
Current account balance (balance of payments)-$6.8B-$3.9B
Revenue excluding grants, % of GDPN/AN/A
Grants excluding technical cooperation, BoP$22.3M$125.8M
Personal remittances received$537.9M$297.1M
Industry including construction value added, % of GDP29.2%37.2%
Agriculture, forestry and fishing value added, % of GDP2.2%5%
Charges for the use of intellectual property, payments BoP$39.4M$258M
Charges for the use of intellectual property, receipts BoP$21.7MN/A
Expense, % of GDPN/AN/A
Government Expenditure, % of GDP21.8%33.5%

Compare with countries close by GDP per capita

Panama vs

CountryGDP
per capita
Population
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Chile
$16k
18.1M
Palau
$16k
21.7k
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k
Kazakhstan
$9.8k
18.3M
China
$9.8k
1.41B
Mexico
$9.7k
131M

Venezuela vs

CountryGDP
per capita
Population
Czech Republic
$23k
10.7M
Vatican City
$21k
1k
Greece
$20k
10.8M
Curacao
$20k
160k
Slovakia
$19k
5.4M
Saint Kitts and Nevis
$19k
55.3k
Lithuania
$19k
2.79M
Barbados
$18k
286k
Latvia
$18k
1.91M
Uruguay
$17k
3.46M
Trinidad and Tobago
$17k
1.37M
Antigua and Barbuda
$17k
102k
Seychelles
$16k
95.8k
Oman
$16k
4.83M
Hungary
$16k
9.94M
Chile
$16k
18.1M
Palau
$16k
21.7k
Poland
$15k
38.4M
Croatia
$15k
4.11M
Romania
$12k
19.6M
Costa Rica
$12k
4.91M
Argentina
$12k
44.9M
Malaysia
$11k
31.6M
Russia
$11k
147M
Mauritius
$11k
1.26M
Grenada
$11k
108k
Saint Lucia
$11k
179k
Maldives
$10k
436k
Equatorial Guinea
$10k
1.27M
Nauru
$9.9k
13.7k