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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 2020 was at about 10.906 US Dollar per capita. In contrast, the GDP in Panama reached 12.510 US dollars per inhabitant, or 53.98 bn US Dollar 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 55.

Inflation in Panama was in 2020 at around -1.55%. For the the EU, the average of the same was year at 0.50%. In the United States, it was most recently 1.23%.

Compared with the USA, prices for daily consumer goods are around 52.4% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Panama

Impact of the Covid-19 pandemic in 2020

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 unemployment rate rose from 4.7 to 10.2 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 - 2020

Economic performance 2020

 Panama
Total
Panama
per capita
EU
Total
EU
per capita
GDP53.98 bn USD12,509.84 USD15,292.10 tn USD29,692.44 USD
Gross national product53.58 bn USD12,417.65 USD15,330.18 tn USD29,766.38 USD


Development of the Gross domestic product in billion US Dollar 1979 - 2020



Im- and Exports 2020

 Panama
Total
Panama
per capita
EU
Total
EU
per capita
Imports17.41 bn USD4,035.50 USD7,314.16 bn USD14,201.79 USD
Exports20.18 bn USD4,677.92 USD7,834.94 bn USD15,212.97 USD


Development of imports and exports in billion US dollars 1979 - 2020

Exports
Imports



Panama: AirportsLargest airports and airlines in PanamaThe 12 biggest airports and Copa in Panama with further information and data
Panama: OverviewPanama: country data and statisticsPanama in numbers: demographics, economy, energy, climate and more data and comparisons with other countries.
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