Latin America & Caribbean · High income
Panama: the economy in numbers
Per person: $19,790, or $43,902 at purchasing power parity. Population: 4.57 million (2025).
GDP in 2025, current US dollars: #82 of 204 economies. IMF forecast for 2026: +5.0%.
GDP
Adjusted for US inflation, in 2025 dollars: $5.85 billion in 1960, $90.5 billion in 2025.
GDP per capita
In 2025 dollars: $5,197 per person in 1960, $19,790 in 2025.
Real GDP growth
Average over 2016–2025: 3.8% a year. Years of falling GDP since 1961: 4 of 65.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Inflation
Consumer prices rose by 65.7% from 2000 to 2025. Highest annual inflation: 16.3% in 1974.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Government debt, % of GDP
Highest since 1994: 88.7% of GDP in 1994. IMF forecast for 2031: 49.6%.
Stock market capitalization, % of GDP
In 2025 listed domestic companies were worth $27.2 billion, or 30.0% of GDP.
Population
1960: 1.13 million · 2025: 4.57 million.
Unemployment rate
1991: 6.4% · 2025: 8.4%.
Life expectancy at birth
1960: 60.3 years · 2024: 79.8 years.
Exports of goods and services
1960: 45.8% · 2024: 44.4%.
Data by year
Show the year-by-year table
| Year | GDP | GDP per capita | Per capita, PPP | Real growth | Inflation | Gov. debt, % GDP | Population | Unemployment | Stock market, % GDP | Life expectancy | Exports, % GDP |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2031 | 4.5%f | 2.0%f | 49.6%f | ||||||||
| 2030 | 4.6%f | 2.0%f | 51.6%f | ||||||||
| 2029 | 4.8%f | 2.0%f | 53.5%f | ||||||||
| 2028 | 4.6%f | 2.0%f | 54.9%f | ||||||||
| 2027 | 4.2%f | 2.2%f | 55.9%f | ||||||||
| 2026 | 5.0%f | 1.8%f | 56.4%f | ||||||||
| 2025 | $90.5B | $19,790 | $43,902 | 4.4% | −0.2% | 56.6% | 4.57M | 8.4% | 30.0% | ||
| 2024 | $86.5B | $19,161 | $41,430 | 2.7% | 0.7% | 57.8% | 4.52M | 8.5% | 21.1% | 79.8 | 44.4% |
| 2023 | $83.8B | $18,797 | $39,846 | 7.2% | 1.5% | 54.4% | 4.46M | 6.5% | 24.3% | 79.6 | 45.6% |
| 2022 | $76.5B | $17,379 | $36,327 | 11.0% | 2.9% | 56.2% | 4.4M | 8.1% | 20.4% | 79.3 | 48.0% |
| 2021 | $67.4B | $15,510 | $30,933 | 16.5% | 1.6% | 58.0% | 4.35M | 10.2% | 22.9% | 77.0 | 41.6% |
| 2020 | $57.1B | $13,291 | $27,017 | −17.8% | −1.6% | 62.4% | 4.29M | 14.7% | 24.4% | 76.3 | 36.3% |
| 2019 | $69.8B | $16,478 | $33,240 | 3.1% | −0.4% | 42.5% | 4.23M | 6.3% | 24.8% | 78.5 | 40.2% |
| 2018 | $67.3B | $16,151 | $32,464 | 3.9% | 0.8% | 36.3% | 4.17M | 5.2% | 23.2% | 78.3 | 42.3% |
| 2017 | $64.3B | $15,695 | $33,533 | 5.7% | 0.9% | 34.3% | 4.1M | 5.3% | 23.4% | 77.9 | 41.5% |
| 2016 | $59.8B | $14,832 | $30,277 | 4.6% | 0.7% | 34.0% | 4.03M | 4.7% | 22.7% | 77.8 | 41.7% |
| 2015 | $55.8B | $14,083 | $27,245 | 5.3% | 0.1% | 34.1% | 3.96M | 4.3% | 23.6% | 77.6 | 47.4% |
| 2014 | $51.4B | $13,213 | $24,376 | 4.6% | 2.6% | 32.9% | 3.89M | 4.4% | 26.7% | 77.4 | 54.9% |
| 2013 | $46.9B | $12,273 | $21,924 | 6.3% | 4.0% | 30.8% | 3.83M | 3.7% | 26.8% | 77.1 | 64.6% |
| 2012 | $41.6B | $11,065 | $19,473 | 9.6% | 5.7% | 31.3% | 3.76M | 3.7% | 30.2% | 76.9 | 74.5% |
| 2011 | $35.7B | $9,662 | $17,474 | 11.9% | 5.9% | 35.9% | 3.69M | 4.0% | 29.9% | 76.7 | 77.7% |
| 2010 | $30.2B | $8,331 | $15,573 | 6.1% | 3.5% | 38.5% | 3.63M | 5.8% | 27.6% | 76.4 | 70.0% |
| 2009 | $27.8B | $7,797 | $14,766 | 1.6% | 2.4% | 39.5% | 3.56M | 5.9% | 27.8% | 76.2 | 70.0% |
| 2008 | $25.7B | $7,348 | $14,705 | 10.2% | 8.8% | 40.6% | 3.5M | 5.6% | 27.5% | 75.9 | 78.3% |
| 2007 | $21.7B | $6,318 | $13,333 | 13.2% | 4.2% | 48.2% | 3.44M | 5.7% | 33.2% | 75.7 | 72.0% |
| 2006 | $18.7B | $5,529 | $11,685 | 9.9% | 2.5% | 56.1% | 3.38M | 5.8% | 38.3% | 75.4 | 69.2% |
| 2005 | $16.6B | $5,018 | $10,511 | 8.3% | 3.2% | 61.5% | 3.31M | 6.0% | 35.9% | 75.2 | 68.2% |
| 2004 | $15.1B | $4,645 | $9,592 | 8.2% | 0.2% | 61.5% | 3.25M | 6.1% | 27.8% | 74.8 | 60.6% |
| 2003 | $13.6B | $4,265 | $8,801 | 5.1% | 0.4% | 59.9% | 3.19M | 6.3% | 23.7% | 74.6 | 58.1% |
| 2002 | $12.8B | $4,091 | $8,370 | 2.5% | 1.0% | 60.9% | 3.13M | 6.3% | 24.2% | 74.2 | 62.8% |
| 2001 | $12.3B | $3,992 | $8,197 | 0.9% | 0.3% | 62.1% | 3.07M | 6.3% | 21.2% | 73.8 | 68.7% |
| 2000 | $12B | $3,975 | $8,097 | 4.2% | 1.5% | 58.0% | 3.01M | 6.2% | 23.3% | 73.4 | 69.0% |
| 1999 | $11.7B | $3,950 | $7,749 | 5.2% | 1.2% | 60.4% | 2.95M | 6.2% | 29.9% | 73.1 | 63.8% |
| 1998 | $11B | $3,808 | $7,408 | 8.4% | 0.6% | 64.3% | 2.89M | 6.4% | 34.6% | 72.8 | 76.9% |
| 1997 | $10.1B | $3,546 | $6,895 | 7.7% | 1.3% | 67.3% | 2.84M | 6.6% | 21.6% | 72.5 | 88.9% |
| 1996 | $9.2B | $3,308 | $6,421 | 4.1% | 1.3% | 73.6% | 2.78M | 6.7% | 13.9% | 72.2 | 83.4% |
| 1995 | $9.57B | $3,514 | $6,182 | 1.8% | 1.0% | 86.7% | 2.72M | 6.5% | 8.7% | 72.0 | 66.8% |
| 1994 | $9.37B | $3,508 | $6,073 | 2.9% | 1.3% | 88.7% | 2.67M | 6.4% | 8.1% | 71.9 | 66.0% |
| 1993 | $8.78B | $3,358 | $5,902 | 5.5% | 0.5% | 2.62M | 6.4% | 5.0% | 71.8 | 64.1% | |
| 1992 | $8.04B | $3,140 | $5,582 | 8.2% | 1.8% | 2.56M | 6.3% | 71.5 | 66.4% | ||
| 1991 | $7.07B | $2,821 | $5,150 | 9.4% | 1.3% | 2.51M | 6.4% | 71.3 | 64.4% | ||
| 1990 | $6.43B | $2,620 | $4,651 | 8.1% | 0.8% | 2.46M | 71.3 | 57.5% | |||
| 1989 | $5.92B | $2,462 | 1.6% | 0.2% | 2.4M | 70.1 | 52.3% | ||||
| 1988 | $5.9B | $2,509 | −13.4% | 0.4% | 2.35M | 70.9 | 49.8% | ||||
| 1987 | $6.83B | $2,966 | −1.8% | 1.0% | 2.3M | 70.8 | 47.4% | ||||
| 1986 | $6.8B | $3,019 | 3.6% | −0.1% | 2.25M | 70.7 | 47.1% | ||||
| 1985 | $6.54B | $2,972 | 4.9% | 1.0% | 2.2M | 70.5 | 45.4% | ||||
| 1984 | $6.18B | $2,875 | 2.7% | 1.6% | 2.15M | 70.4 | 44.5% | ||||
| 1983 | $5.92B | $2,819 | −4.5% | 2.1% | 2.1M | 70.1 | 47.1% | ||||
| 1982 | $5.77B | $2,811 | 5.3% | 4.3% | 2.05M | 69.9 | 56.8% | ||||
| 1981 | $5.22B | $2,605 | 9.2% | 7.3% | 2.0M | 69.8 | 62.3% | ||||
| 1980 | $4.61B | $2,357 | 13.1% | 13.8% | 1.96M | 69.5 | 65.0% | ||||
| 1979 | $3.7B | $1,938 | 4.5% | 8.0% | 1.91M | 69.1 | 58.9% | ||||
| 1978 | $3.24B | $1,738 | 9.8% | 4.2% | 1.87M | 68.7 | 59.0% | ||||
| 1977 | $2.74B | $1,503 | 1.1% | 4.6% | 1.82M | 68.3 | 65.3% | ||||
| 1976 | $2.59B | $1,457 | 1.7% | 3.9% | 1.78M | 67.8 | 62.8% | ||||
| 1975 | $2.44B | $1,406 | 1.7% | 5.9% | 1.73M | 67.2 | 69.0% | ||||
| 1974 | $2.19B | $1,296 | 2.4% | 16.3% | 1.69M | 66.6 | 67.6% | ||||
| 1973 | $1.91B | $1,164 | 5.4% | 6.9% | 1.64M | 65.8 | 53.6% | ||||
| 1972 | $1.67B | $1,046 | 4.6% | 5.4% | 1.6M | 65.2 | 53.5% | ||||
| 1971 | $1.52B | $979 | 9.6% | 1.9% | 1.56M | 64.7 | 54.3% | ||||
| 1970 | $1.35B | $893 | 7.0% | 3.1% | 1.51M | 64.1 | 55.8% | ||||
| 1969 | $1.22B | $830 | 8.4% | 1.8% | 1.47M | 63.7 | 57.4% | ||||
| 1968 | $1.11B | $778 | 7.0% | 1.6% | 1.43M | 63.2 | 57.3% | ||||
| 1967 | $1.03B | $745 | 8.6% | 1.4% | 1.39M | 62.9 | 56.4% | ||||
| 1966 | $929M | $689 | 7.6% | 0.2% | 1.35M | 62.6 | 55.8% | ||||
| 1965 | $852M | $651 | 9.2% | 0.5% | 1.31M | 62.3 | 54.4% | ||||
| 1964 | $776M | $611 | 4.4% | 2.4% | 1.27M | 62.1 | 52.5% | ||||
| 1963 | $723M | $587 | 8.5% | 0.4% | 1.23M | 61.8 | 52.7% | ||||
| 1962 | $652M | $546 | 8.2% | 0.8% | 1.2M | 61.4 | 53.2% | ||||
| 1961 | $599M | $516 | 10.9% | 0.6% | 1.16M | 60.9 | 47.2% | ||||
| 1960 | $537M | $477 | 0.1% | 1.13M | 60.3 | 45.8% |
e: IMF estimate; f: IMF forecast.
Nearby economies in Latin America & Caribbean
Nearest by distance between capitals, with GDP per capita.
Antigua and Barbuda · Argentina · Aruba · Bahamas · Barbados · Belize · Bolivia · Brazil · British Virgin Islands · Cayman Islands · Chile · Colombia · Costa Rica · Cuba · Curaçao · Dominica · Dominican Republic · Ecuador · El Salvador · Grenada · Guatemala · Guyana · Haiti · Honduras · Jamaica · Mexico · Nicaragua · Panama · Paraguay · Peru · Puerto Rico · Saint Kitts and Nevis · Saint Lucia · Saint Martin (French part) · Saint Vincent and the Grenadines · Sint Maarten · Suriname · Trinidad and Tobago · Turks and Caicos Islands · U.S. Virgin Islands · Uruguay · Venezuela
Rankings
GDP by country · GDP per capita · Real GDP growth · Inflation by country · Government debt to GDP · Stock market to GDP · Population by country · Unemployment by country
Data and methods
- GDP: gross domestic product in current US dollars, converted from the local currency at market exchange rates (World Bank); not adjusted for inflation.
- Purchasing power parity (PPP): GDP per person in international dollars, which buy the same basket of goods and services in every country. It compares living standards across countries in the same year; it is not adjusted for inflation over time.
- In 2025 dollars: the charts can remove US inflation (US consumer price index, annual average) so that dollar amounts from different years compare in today's money. Exchange rate swings still show.
- Growth and inflation: World Bank data (calendar years). Years the World Bank does not cover yet, and the estimates and forecasts, come from the IMF World Economic Outlook (October 2026): its forecasts start in 2026, and the years after a country's last actual year are IMF estimates.
- Government debt: gross debt of the general government (central, state and local government and social security funds) as a percentage of GDP, IMF. The World Bank's central government debt is narrower and covers fewer countries.
- Stock market capitalization: the end-of-year value of domestic companies listed on the country's exchanges (World Federation of Exchanges via the World Bank; before 2016, Standard & Poor's), as a percentage of GDP: the “Buffett indicator”. Investment funds are excluded, and so are companies listed only abroad; companies from elsewhere that list on an exchange count for its country (Hong Kong lists many mainland Chinese companies).
- Unemployment: ILO modeled estimates (share of the labor force); comparable across countries, but they may differ from national figures.
Source: World Bank, World Development Indicators (CC BY 4.0)
Source: International Monetary Fund, World Economic Outlook (October 2026)