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Indicators of economy in Panama

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Panama, on the other hand, reached USD 14.516 per capita, or 63.61 billion USD in the whole country. Panama is therefore currently ranked 82 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Panama is in the list of the world's richest countries in place 46.
Inflation in Panama was in 2021 at around 1.63%. Within the EU, the average in the same year was 2.55%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 53.8% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
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Impact of the Covid-19 pandemic

The consequences of the Covid pandemic in 2020 were considerable in Panama. Overall, gross domestic product in 2020 fell from 66.98 billion US Dollar auf 53.98 billion US Dollar. With a large drop of 19.42 percent, the economy in Panama has struggled significantly more than other countries. The tourism sector alone slumped by around 74 percent. The unemployment rate rose from 4.7 to 12.9 percent. The inflation rate has fallen from -0.4 percent previously to -1.6 percent by the end of 2020.

Unemployment rates in percent 1991 - 2021

Economic performance 2021

 Panama
Total
Panama
per capita
EU
Total
EU
per capita
GDP63.61 bn USD14,516.46 USD17.09 tn USD33,228.68 USD
Gross national product61.37 bn USD14,005.94 USD16.78 tn USD32,621.03 USD

Development of the Gross domestic product in billion US Dollar 1960 - 2021



Im- and Exports 2021

 Panama
Total
Panama
per capita
EU
Total
EU
per capita
Imports24.63 bn USD5,620.49 USD8,916.24 bn USD17,337.55 USD
Exports27.24 bn USD6,216.21 USD9,554.34 bn USD18,578.33 USD

Development of imports and exports in billions of USD 1977 - 2021
Exports
Imports

Panama: AirportsLargest airports and airlines in PanamaThe 17 biggest airports and Copa in Panama with further information and data
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Language: ChineseChinese - Worldwide distributionInternational distribution of mother tongue Chinese including regional allocations. Mainly in in China.