Panama/Economy

Economy of Panama

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

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GDP (USD)
$83.3B(2023)
GDP PPP (USD)
$177.5B(2023)
GDP per Capita (USD)
$18,686(2023)
GDP Growth (inflation-adjusted)
7.4%(2023)
Inflation (CPI Annual %)
0.7%(2024)

Trade & Finance

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Exports (as share of GDP)
46.5%(2023)
Imports (as share of GDP)
43.1%(2023)
FDI Inflows (as share of GDP)
2.8%(2023)
Remittance Inflow (USD)
$515.7M(2023)
Tax Revenue (as share of GDP)
7.5%(2021)

Labor & Income

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Unemployment Rate
6.5%(2024)
Employment in Services
67.8%(2023)
Poverty Rate
21.8%(2021)
GINI Index
48.9(2023)
GNI per Capita (USD)
$17,870(2023)

Energy & Environment

Coming Soon
Energy Use per Capita
1063 kg oil eq.(2022)
Renewable Energy Consumption (%)
28%(2021)

Economic Snapshot Overview

A summary of key economic indicators for Panama

  • The economic architecture of Panama is substantial, anchored by a Gross Domestic Product (GDP) of approximately $83.32B
    2023
    . This places it as the 75th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $18.69K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $177.47B, reflecting the population's domestic purchasing power. The economy is experiencing robust expansion, with a high growth rate of 7.4%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 0.7%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The country maintains a strong trade surplus, with exports representing 46.5% of GDP and imports 43.1%
    2023
    . Foreign Direct Investment (FDI) inflows are significant, constituting 2.79% of the economy
    2023
    . This performance positions the country 67th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $515.68M annually
    2023
    , highlighting the economic importance of its diaspora. The government faces fiscal constraints, with tax revenue representing only 7.5% of GDP
    2021
    .
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $17,870
    2023
    . Globally, this ranks the nation 55th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 6.5%
    2024
    . The services sector is a primary driver of the labor market, accounting for 67.8% of total employment
    2023
    . Poverty remains a key issue, with 21.8% of the population living below the national poverty line
    2021
    . There is a moderate level of income inequality, with a Gini index of 48.9
    2023
    .
  • On the environment and energy front, energy consumption per capita is 1,062.699 kg of oil equivalent
    2022
    . There is a growing focus on sustainability, with renewable energy accounting for 28.0% of consumption
    2021
    . Its commitment to clean energy places it 106th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

Transitioning to a sustainable energy model is critical for mitigating climate risk and ensuring long-term energy security.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.