Panama Economic Statistics and Indicators

21, Nov 2019, EST. Welcome to the Panama economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Panama › Change country
National or Regional Currency: Balboa, PAB
Year of data: 2015 › Change year
Number of Indicators Listed: 38
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 3,608,431 (July 2014 est.)
Area: total: 75,420 sq km ; land: 74,340 sq km ; water: 1,080 sq km
Natural Resources: copper, mahogany forests, shrimp, hydropower
Capital: name: Panama City ; geographic coordinates: 8 58 N, 79 32 W ; time difference: UTC-5 (same time as Washington, DC, during Standard Time)

Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Services include operating the Panama Canal, logistics, banking, the Colon Free Zone, insurance, container ports, flagship registry, and tourism. Economic growth will be bolstered by the Panama Canal expansion project that began in 2007 and is estimated to be completed by 2015 at a cost of $5.3 billion - about 10-15% of current GDP. The expansion project will more than double the Canal's capacity, enabling it to accommodate ships that are too large to traverse the existing canal. The United States and China are the top users of the Canal. Panama is also constructing a metro system in Panama City, valued at $1.2 billion and scheduled to be completed by 2014. Panama's booming transportation and logistics services sectors, along with aggressive infrastructure development projects, have lead the economy to continued high growth in 2012. Foreign investment, at around 10% of GDP in both 2011 and 2012, has continued to be a source of growth. Strong economic performance has not translated into broadly shared prosperity, as Panama has the second worst income distribution in Latin America. About one-fourth of the population lives in poverty; however, from 2006 to 2012 poverty was reduced by 10 percentage points, while unemployment dropped from 12% to 4.5% of the labor force in 2013. The US-Panama Trade Promotion Agreement was approved by Congress and signed into law in October 2011, and entered into force in October 2012. Panama also achieved removal from the Organization of Economic Development's gray-list of tax havens by signing various double taxation treaties with other nations.
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GDP (Constant Prices, National Currency) for Panama in year 2015 is PAB 35.732 Billion.

GDP Growth (Constant Prices, National Currency) for Panama in year 2015 is 5.777 %.

GDP (Current Prices, National Currency) for Panama in year 2015 is PAB 52.132 Billion.

GDP (Current Prices, US Dollars) for Panama in year 2015 is US$ 52.132 Billion.

GDP Deflator for Panama in year 2015 is 145.9 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Panama in year 2015 is PAB 8,918.84 .

GDP Per Capita (Current Prices, National Currency) for Panama in year 2015 is PAB 13,012.56 .

GDP Per Capita (Current Prices, US Dollars) for Panama in year 2015 is US$ 13,012.56 .

GDP (PPP), US Dollars for Panama in year 2015 is US$ 87.196 Billion.

GDP Per Capita (PPP), US Dollars for Panama in year 2015 is US$ 21,764.65 .

GDP Share of World Total (PPP) for Panama in year 2015 is 0.077 %.

Implied PPP Conversion Rate for Panama in year 2015 is 0.598 .

Investment (% of GDP) for Panama in year 2015 is 48 %.

Gross National Savings (% of GDP) for Panama in year 2015 is 41.522 %.

Inflation, Average Consumer Prices (Indexed to Year 2000) for Panama in year 2015 is 102.767 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Panama in year 2015 is 0.134 %.

Inflation, End of Year (Indexed to Year 2000) for Panama in year 2015 is 102.5 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Panama in year 2015 is 0.294 %.

Import Volume of All Items Including Goods and Services (Percent Change) for Panama in year 2015 is 5.898 %.

Import Volumes of Goods Only (Percent Change) for Panama in year 2015 is 2.667 %.

Export Volume of All Items Including Goods and Services (Percent Change) for Panama in year 2015 is 2.082 %.

Export Volumes of Goods Only (Percent Change) for Panama in year 2015 is -2.547 %.

Unemployment Rate (% of Labour Force) for Panama in year 2015 is 5.052 %.

Population for Panama in year 2015 is 4.006 Million .

General government revenue (National Currency) for Panama in year 2015 is PAB 10.62 Billions.

General government revenue (% of GDP) for Panama in year 2015 is 20.372 %.

General government total expenditure (National Currency) for Panama in year 2015 is PAB 12.074 Billions.

General government total expenditure (% of GDP) for Panama in year 2015 is 23.16 %.

Total Government Net Lending/ Borrowing (National Currency) for Panama in year 2015 is PAB -1.453 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Panama in year 2015 is -2.787 %.

General Government Structural Balance (National Currency) for Panama in year 2015 is PAB -0.486 Billion.

General Government Structural Balance (% Potential GDP) for Panama in year 2015 is -0.927 %.

Fiscal Year Gross Domestic Product, Current Prices for Panama in year 2015 is PAB 52.132 Billions.

Current Account Balance (US Dollars) for Panama in year 2015 is US$ -3.377 Billion.

Current Account Balance (% GDP) for Panama in year 2015 is -6.478 %.