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Panama

Headline economic indicators for Panama, with the most recent official readings.

Prices

Prices — Panama
Indicator Value Change
Inflation rate · -0.2% -0.88 (-127.2%)
Consumer price index · 128.1 -0.24 (-0.2%)
GDP deflator inflation · 0.2% -0.28 (-59.3%)

GDP

GDP — Panama
Indicator Value Change
GDP growth rate · 4.4% +1.60 (+58.3%)
GDP per capita · 19,789.73 +628.51 (+3.3%)
GDP per capita, long-run history · 23,557 +2,018 (+9.4%)
GDP · 90,462,600,000 +3,938,640,900 (+4.6%)
GDP, PPP · 200,685,085,535 +13,606,946,439 (+7.3%)
GDP per capita, PPP · 43,902 +2,473 (+6.0%)
GDP per capita growth · 3.1% +1.63 (+111.7%)
GNI per capita · 19,140 +1,190 (+6.6%)
Agriculture to GDP · 2.6% -0.06 (-2.4%)
Industry to GDP · 24.9% -0.60 (-2.4%)
Manufacturing to GDP · 4.8% -0.14 (-2.9%)
Services to GDP · 70.0% +0.68 (+1.0%)
Household consumption to GDP · 49.0% +1.69 (+3.6%)
Gross capital formation to GDP · 33.5% -3.96 (-10.6%)
Gross savings to GDP · 33.0% -1.96 (-5.6%)

Labour

Labour — Panama
Indicator Value Change
Unemployment rate · 8.4% -0.09 (-1.1%)
Labour force participation rate · 66.3% -0.02 (-0.0%)
Female labour force participation rate · 54.9% +0.10 (+0.2%)
Youth unemployment rate · 19.8% +0.09 (+0.4%)
Employment to population ratio · 60.8% +0.05 (+0.1%)
Employment in agriculture · 16.0% -0.32 (-1.9%)
Employment in industry · 17.0% -0.02 (-0.1%)
Employment in services · 67.0% +0.33 (+0.5%)

Money

Money — Panama
Indicator Value Change
Real interest rate · 4.6% -0.83 (-15.3%)
Broad money to GDP · 76.2% -2.56 (-3.3%)
Private sector credit to GDP · 75.5% -1.49 (-1.9%)
Lending rate · 6.9% -0.03 (-0.4%)
Bank deposit rate · 2.8% +0.10 (+3.9%)
Stock market capitalization to GDP · 30.0% +8.91 (+42.2%)
Bank nonperforming loans · 2.4% +0.02 (+0.6%)
Official exchange rate · 1 +0.00 (+0.0%)

Trade

Trade — Panama
Indicator Value Change
Current account to GDP · -0.2% -0.84 (-128.5%)
Exports to GDP · 44.4% -1.27 (-2.8%)
Imports to GDP · 39.3% -3.40 (-8.0%)
Trade to GDP · 83.7% -4.68 (-5.3%)
Exports of goods and services · 38,380,161,300 +137,308,500 (+0.4%)
Imports of goods and services · 34,017,704,900 -1,786,568,300 (-5.0%)
Trade balance, goods and services (annual) · 4,701,774,957.45 -387,463,465 (-7.6%)
Current account balance (annual) · -169,048,166.67 -737,180,289 (-129.8%)
Foreign direct investment to GDP · 1.0% -1.37 (-57.0%)
Remittances received to GDP · 0.7% +0.09 (+14.2%)
Total reserves, including gold · 6,240,726,722.11 -614,778,566 (-9.0%)
Reserves in months of imports · 1.7 -0.26 (-13.0%)

Government

Government — Panama
Indicator Value Change
Government revenue to GDP · 10.7% -1.31 (-10.9%)
Government expense to GDP · 17.1% -2.13 (-11.0%)
Tax revenue to GDP · 7.2% -1.23 (-14.6%)
Government budget balance to GDP · -8.2% -4.16 (-102.5%)
Government consumption to GDP · 12.4% +0.14 (+1.1%)
Education spending to GDP · 2.5% -0.91 (-26.8%)
Health spending to GDP · 8.3% -0.72 (-7.9%)

Demography

Demography — Panama
Indicator Value Change
Population · 4,571,189 +55,612 (+1.2%)
Population, long-run history · 4,023 +52.30 (+1.3%)
Population growth · 1.2% -0.04 (-3.3%)
Life expectancy · 79.8 +0.18 (+0.2%)
Fertility rate · 2.11 -0.01 (-0.6%)
Birth rate · 15.9 -0.16 (-1.0%)
Death rate · 4.9 +0.14 (+3.0%)
Urban population share · 66.2% +0.15 (+0.2%)
Population aged 65 and over · 9.7% +0.30 (+3.2%)
Under-five mortality rate · 15.3 +0.20 (+1.3%)
Population density · 60.9 +0.77 (+1.3%)
Net migration · 6,151 -555.00 (-8.3%)
Gini index · 49.7 +0.80 (+1.6%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

Panama

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