Browse a full set of economic indicators


Includes historical data for Panama’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

A Dollar-Based Economy And FDI Hub

Situated on the thin stretch of land that connects North and South America, Panama boasts ports on both oceans and serves as the passageway for 10% of world maritime traffic. The Panama Canal, the world’s second-largest free trade zone, attracts substantial foreign direct investment and bolsters the country’s status as a regional banking and financial center. Panama’s dollar-based economy, low inflation and stable democratic government further enhance its appeal. Additionally, Panama has sustained some of the highest economic growth rates in Central America for the past few decades.

However, Panama also faces challenges. Despite its status as an upper-middle-income economy, inequality among its 4.5 million inhabitants persists, exacerbated by unemployment and a lack of skilled labor. High debt levels, corruption and exposure to both North and South American economic shocks pose additional concerns.

Macroeconomy & Sovereign Data

Type of Government Parliamentary republic
Capital Panama City
Sovereign Ratings S&P: BBB
Moody’s: Baa3
Fitch: BB+
Total Population 4.5 million
Median Age 29.6
Adult Per Capita Income (PPP) 49,655.17
Total GDP (2023) 87.3 billion

Panama GDP & Economic Overview

Most Recent Content


Economics, Policy & Regulation

Panama: Mining Protests Threaten FDI

Emerging & Frontier Markets

Panama: Ready To Recover

Banking & Finance

Trade & Investment

Total Exports USD 65.6 billion (2023)
Leading Exports Refined Petroleum
Coal Tar Oil
Packaged Medicines
Total Imports USD 8.8 billion (2022)
Leading Imports Ships
Refined Petroleum
Crude Petroleum
Tanker Ships
Packaged Medicines
Source: World Integrated Trade Solution

Panama Leading Companies

BAC International Bank Financials
Banco General Financials
Banco Nacional de Panama Financials
Copa Airlines Airlines
Panamanian Ports Company Industrials, Ports & Shipping
Grupo Rey Food & Staples Retailing
Cervecería Nacional Consumer Staples, Breweries

Major Trade Partners — Import

United States 26%
Free zones (unspecified) 23%
China 12%
Mexico 5%
Costa Rica 4%

Major Trade Partners — Export

China 32%
Japan 13%
South Korea 10%
Spain 9%
India 5%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000