Panama

Description of Panama

Panama, a vibrant country in Central America, is a land of contrasts with a rich tapestry of history, culture, and natural beauty. Known for its iconic Panama Canal, which serves as a crucial artery for global trade, Panama boasts a strategic location that bridges North and South America. The country's diverse economy, encompassing sectors such as banking, logistics, and tourism, continues to show resilience and growth. With a unique blend of indigenous traditions, Spanish heritage, and modern influences, Panama offers a unique blend of experiences for visitors and residents alike. Explore the dynamic landscape of Panama as we delve into its geopolitical significance and macroeconomic developments.

Population And Age Structure

Population, total: Panama's total population is 4,294,396, which is significantly below the average population of 40,097,746. Panama is ranked 127 out of 194 countries in total population.

Population ages 0-14 (% of total population): Panama has 26.68% of its population aged 0-14, slightly below the average of 27.34%. Panama is ranked 94 out of 194 countries in this age group.

Population ages 0-14, total: With a total of 1,145,692 children aged 0-14, Panama is below the average of 10,327,380 children in this age group. Panama is ranked 117 out of 194 countries for this demographic.

Population ages 15-64 (% of total population): Panama's working-age population (ages 15-64) represents 64.96% of the total population, slightly above the average of 63.44%. Panama is ranked 91 out of 194 countries in this category.

Population ages 15-64, total: The total number of individuals aged 15-64 in Panama is 2,789,531, significantly below the average of 26,003,407 for this age group. Panama is ranked 124 out of 194 countries for this demographic.

Population ages 65 and above (% of total population): Panama has 8.36% of its population aged 65 and above, slightly below the average of 9.22%. Panama is ranked 80 out of 194 countries in this age group.

Population ages 65 and above, total: Panama has 359,173 individuals aged 65 and above, below the average of 3,766,959. Panama is ranked 114 out of 194 countries for this age category.

Summary

Overall, Panama has a relatively smaller population compared to the global average, with a higher percentage of working-age individuals but lower percentages in both the young and elderly age groups. This demographic distribution is crucial as it indicates a potentially smaller dependency ratio, which could impact social welfare systems, healthcare, and overall economic productivity in the country.

Population Miscellaneous

Analysis of Key Demographic Statistics in Panama:

1. Rural population: Panama's rural population is 1,356,428, significantly below the average of 18,044,041, ranking 116 out of 190 countries.

2. Rural population (% of total population): With a value of 31.586%, Panama's rural population percentage is below the average of 41.158%, ranking 118 out of 190 countries.

3. Urban population: The urban population in Panama is 2,937,968, lower than the average of 22,425,747, ranking 117 out of 194 countries.

4. Urban population (% of total population): Panama's urban population makes up 68.414% of the total, higher than the average of 59.691%, ranking 77 out of 194 countries.

5. Age dependency ratio (% of working-age population): Panama's ratio is 53.95%, slightly below the average of 59.22%, ranking 104 out of 194 countries.

6. Birth rate, crude (per 1,000 people): The crude birth rate in Panama is 17.919 per 1,000 people, lower than the average of 19.384, ranking 90 out of 192 countries.

7. Death rate, crude (per 1,000 people): With a crude death rate of 5.747 per 1,000 people, Panama is below the average of 8.214, ranking 160 out of 192 countries.

8. Fertility rate, total (births per woman): Panama's fertility rate is 2.344 births per woman, lower than the average of 2.603, ranking 88 out of 190 countries.

Summary

In Panama, the rural population is below average in both absolute numbers and as a percentage of the total population, while the urban population exceeds the global average proportionately. The country has a lower age dependency ratio compared to the worldwide average, indicating a relatively larger working-age population. Panama also exhibits lower crude birth and death rates, with a fertility rate below the global average.

These demographic statistics are crucial as they provide insights into Panama's population distribution, age structure, and reproductive trends. Understanding these metrics is essential for policymakers to plan healthcare, education, and social security systems effectively to support a productive workforce and ensure sustainable economic development.

Military

For the attribute "Armed forces personnel, total", Panama has 28,000 personnel, which is below the attribute average of 165,908. Panama ranks 89 out of 164 countries in this data set.

Regarding "Armed forces personnel (% of total labor force)", Panama's percentage is 1.45%, slightly above the attribute average of 1.28%. Panama is ranked 41 out of 164 countries in this metric.

Summary

Panama has a below-average number of armed forces personnel with 28,000 individuals, ranking 89 out of 164 countries. However, Panama's percentage of armed forces personnel relative to its total labor force is slightly above average at 1.45%, placing it at 41 out of 164 countries. These indicators are crucial as they reflect Panama's military readiness and allocation of human resources towards defense, which can impact national security and defense capabilities.

Natural Resources

Forest area in Panama is 42,138.4 sq. km, below the global average of 211,606.11 sq. km, ranking 74th out of 191 countries.

Land area in Panama is 74,180 sq. km, below the global average of 665,166.51 sq. km, ranking 115th out of 194 countries.

Surface area in Panama is 75,320 sq. km, below the global average of 689,779.56 sq. km, ranking 118th out of 194 countries.

Arable land in Panama is 565,000 hectares, below the global average of 7,329,543.16 hectares, ranking 121st out of 190 countries.

Land under cereal production in Panama is 156,460 hectares, below the global average of 4,206,011.63 hectares, ranking 128th out of 174 countries.

Average precipitation in depth in Panama is 2,928 mm per year, above the global average of 1,157.83 mm per year, ranking 4th out of 178 countries.

Renewable internal freshwater resources in Panama is 136.6 billion cubic meters, below the global average of 240.41 billion cubic meters, ranking 47th out of 178 countries.

Summary

Key macroeconomic indicators for Panama reveal the country's relatively limited forest area, land area, surface area, arable land, and land under cereal production compared to global averages. However, Panama experiences above-average precipitation levels and possesses below-average renewable internal freshwater resources. These indicators are important as they contribute to assessing Panama's natural resource availability, agricultural potential, and environmental sustainability, impacting sectors such as agriculture, forestry, and water management, which are crucial for the country's economic development and environmental conservation efforts.

Resource Rents

- Total natural resources rents (% of GDP): Panama's value for this attribute is 0.54%, which is significantly below the average of 4.63%. This places Panama at rank 119 out of 175 countries.

- Forest rents (% of GDP): Panama's value for this attribute is 0.12%, notably below the average of 1.53%. This places Panama at rank 113 out of 174 countries.

- Mineral rents (% of GDP): Panama's value for this attribute is 0.41%, below the average of 1.23%. This places Panama at rank 37 out of 86 countries.

Summary

Panama's total natural resources rents, forest rents, and mineral rents as a percentage of GDP are all below the global averages, placing the country at relatively lower ranks when compared to other nations. This indicates that Panama might have limited economic dependence on natural resource industries compared to many other countries, which could imply a diverse or more service-based economy with potentially lower exposure to commodity price fluctuations and resource depletion risks.

Commodities

When examining Cereal production in Panama, the country's value of 528,363 metric tons is significantly below the average of 17,249,945. Panama ranks 119th out of 174 countries in this data set.

For Aquaculture production, Panama's value of 3,909.1 metric tons is well below the average of 679,642.9 metric tons. Panama occupies the 98th position out of 180 countries in this category.

In terms of Capture fisheries production, Panama's 194,447.24 metric tons is below the average of 467,453.06 metric tons. The country ranks 59th out of 190 countries in this aspect.

Regarding Total fisheries production, Panama's output of 198,356.34 metric tons falls short of the average of 1,153,914.85 metric tons. Panama ranks 62nd out of 182 countries in total fisheries production.

Lastly, in Fertilizer consumption per hectare of arable land, Panama's consumption of 99.56 kilograms is lower than the average of 159.04 kilograms. The country holds the 89th rank out of 187 countries in this particular statistic.

Summary

In analyzing key macroeconomic indicators for Panama, it is evident that the country falls below the global average in various agricultural production aspects such as Cereal, Aquaculture, Capture fisheries, and Total fisheries production. Additionally, Panama also exhibits lower fertilizer consumption per hectare of arable land compared to the average consumption across countries. These statistics are crucial as they indicate potential areas for improvement and development within the country's agricultural sector to enhance food security, economic growth, and competitiveness on the global stage.

Intellectual Property

1. Industrial design applications, nonresident, by count: Panama's value of 42 is significantly below the average of 1415.83, ranking at 88 out of 112 countries.

2. Patent applications, nonresidents: With 297 applications, Panama falls below the average of 6538.40, placing at rank 51 out of 129 countries in this category.

3. Patent applications, residents: Panama's 22 applications are notably lower than the average of 19037.56, ranking 89 out of 117 countries.

4. Trademark applications, nonresident, by count: Panama's 5574 applications are below the average of 15878.93, placing them at rank 65 out of 130 countries.

5. Trademark applications, resident, by count: With 5408 applications, Panama is below the average of 111055.78, ranked 58 out of 129 countries.

6. Scientific and technical journal articles: Panama's 258.87 articles fall significantly below the average of 15103.76, placing them at rank 111 out of 192 countries.

7. Charges for the use of intellectual property, payments (BoP, current US$): Panama's value of $443,279,389.69 is notably below the average of $3,218,843,494.39, ranked 48 out of 143 countries.

8. Charges for the use of intellectual property, receipts (BoP, current US$): Panama's receipts of $2,979,370.11 are substantially lower than the average of $3,191,687,117.58, placing them at rank 80 out of 122 countries.

Summary

Panama ranks below average across multiple key macroeconomic indicators related to intellectual property such as industrial design applications, patent applications, trademark applications, scientific articles, and charges for the use of intellectual property. This indicates a relatively lower level of innovation and intellectual property activity compared to other countries globally. These indicators are crucial as they reflect Panama's competitiveness, innovation capacity, and potential for economic growth through the generation and utilization of intellectual property.

Broad Economy Attributes

GDP (current US$): Panama's GDP is $57,086,836,900, below the average of $442,870,224,838.68. Panama is ranked 78 out of 189 countries in this attribute.

GDP, PPP (current international $): Panama's GDP, PPP is $120,657,979,467.77, significantly below the average of $734,141,122,350.78. Panama is ranked 80 out of 181 countries in this attribute.

GDP per capita (current US$): Panama's GDP per capita is $13,293.33, below the average of $15,462.11. Panama is ranked 58 out of 190 countries in this attribute.

GDP per capita, PPP (current international $): Panama's GDP per capita, PPP is $28,096.61, above the average of $21,251.89. Panama is ranked 51 out of 181 countries in this attribute.

GNI (current US$): Panama's GNI is $54,684,287,800, below the average of $452,040,815,370.70. Panama is ranked 77 out of 185 countries in this attribute.

GNI, PPP (current international $): Panama's GNI, PPP is $115,579,983,633.36, significantly below the average of $730,698,223,823.47. Panama is ranked 81 out of 181 countries in this attribute.

GNI per capita, PPP (current international $): Panama's GNI per capita, PPP is $26,910, above the average of $20,615.75. Panama is ranked 50 out of 181 countries in this attribute.

Summary

Panama's GDP, GNI, and GDP per capita figures are all below the global averages, indicating that the country's economic output and income levels are comparatively lower. Despite this, Panama performs relatively better in terms of GDP per capita, PPP, ranking above average. These statistics are important as they provide insights into Panama's economic standing among other nations and highlight areas where the country may need to focus on for growth and development.

Broad Value Added

The Gross value added at basic prices (GVA) in Panama is $55,661,021,700, which is below the average of $360,070,943,595.12, ranking Panama 71st out of 176 countries.

In terms of Agriculture, forestry, and fishing value added as a percentage of GDP, Panama contributes 2.95%, significantly lower than the average of 10.86%. This places Panama at a rank of 133 out of 182 countries.

Panama's Agriculture, forestry, and fishing value added in current US dollars is $1,681,347,200, well below the average of $19,924,732,828.07, ranking Panama 114th out of 182 countries.

When it comes to Services value added as a percentage of GDP, Panama stands at 71.24%, surpassing the average of 56.72%. This places Panama at a respectable rank of 18 out of 183 countries.

Panama's Services value added in current US dollars is $40,667,577,800, falling short of the average of $295,837,711,130.69, ranking Panama 71st out of 183 countries.

The Industry (including construction) value added in Panama is $13,312,096,700, which is significantly below the average of $118,421,095,413.50, placing Panama at a rank of 81 out of 183 countries.

Summary

Panama exhibits a relatively lower Gross value added (GVA) compared to the global average, placing it at 71st out of 176 countries. The country's Agriculture, forestry, and fishing value added is notably below average, while its Services value added surpasses the global average, positioning Panama at a respectable rank of 18. These indicators are crucial as they highlight Panama's economic structure, showing a dependency on service sectors over agriculture and industry, which may have implications for diversification and future growth strategies.

Manufacturing Value Added

1. Manufacturing, value added (current US$): Panama's value of 3,200,584,600 USD is significantly lower than the average of 76,207,179,589.66 USD. Panama is ranked 97th out of 173 countries in this attribute.

2. Manufacturing, value added (% of GDP): Panama's value of 5.61% is below the average of 11.90%. Panama is ranked 143rd out of 173 countries in this attribute.

3. Medium and high-tech manufacturing value added (% manufacturing value added): Panama's value of 8.32% is below the average of 24.49%. Panama is ranked 119th out of 149 countries in this attribute.

4. Chemicals (% of value added in manufacturing): Panama's value of 4.59% is below the average of 11.56%. Panama is ranked 74th out of 89 countries in this attribute.

5. Food, beverages and tobacco (% of value added in manufacturing): Panama's value of 56.56% is above the average of 24.51%. Panama is ranked 6th out of 92 countries in this attribute.

6. Machinery and transport equipment (% of value added in manufacturing): Panama's value of 2.75% is below the average of 16.85%. Panama is ranked 82nd out of 93 countries in this attribute.

7. Textiles and clothing (% of value added in manufacturing): Panama's value of 1.42% is below the average of 6.33%. Panama is ranked 78th out of 93 countries in this attribute.

8. Other manufacturing (% of value added in manufacturing): Panama's value of 34.68% is below the average of 42.13%. Panama is ranked 68th out of 94 countries in this attribute.

Summary

Panama's manufacturing sector shows lower values across key indicators compared to global averages. The country ranks below average in most manufacturing subsectors such as medium and high-tech manufacturing and machinery and transport equipment. However, Panama excels in the food, beverages, and tobacco subsector, ranking 6th globally. These findings are important as they highlight areas where Panama may need to focus on improving its manufacturing capabilities to enhance economic growth and competitiveness on a global scale.

Money

For "Inflation, consumer prices (annual %)," Panama's rate is -1.55%, significantly below the average of 8.26%. This places Panama at rank 159 out of 165 countries in the dataset.

Regarding "Inflation, GDP deflator (annual %)," Panama's -0.55% is also below the average of 6.90%, positioning Panama at rank 148 out of 188 countries in the dataset.

Summary

Panama is experiencing deflation in both consumer prices and the GDP deflator, with rates of -1.55% and -0.55% respectively, placing it at ranks 159 and 148 out of the countries in the dataset. These significantly low inflation rates indicate a potential decrease in consumer purchasing power and could signify economic slowdown or recessionary pressures in Panama's economy.

Equities

- Listed domestic companies, total: Panama's value of 35 is significantly below the average of 636.625, ranking 57 out of 72 countries. - Stocks traded, total value (current US$): Panama's value of 210130000 is notably below the average of 1379501951820.9119, ranking 55 out of 71 countries. - Stocks traded, total value (% of GDP): Panama's value of 0.368088356985146 is below the average of 31.647543949707174, ranking 57 out of 71 countries. - Market capitalization of listed domestic companies (current US$): Panama's value of 13938450000 is significantly below the average of 1196037851618.8787, ranking 53 out of 73 countries. - Market capitalization of listed domestic companies (% of GDP): Panama's value of 24.4162240490154 is below the average of 71.23964655380307, ranking 47 out of 73 countries. - S&P Global Equity Indices (annual % change): Panama's value of -25.4052942693699 is well below the average of 2.059507958168366, ranking 76 out of 79 countries.

Summary

Panama lags behind in key macroeconomic indicators such as listed domestic companies, stocks traded, market capitalization, and equity indices performance when compared to global averages and rankings. This suggests limited opportunities for domestic companies to raise capital, lower investor confidence in the stock market, and possibly reduced economic growth potential. Addressing these issues is crucial for Panama to attract investments, foster economic development, and improve its competitiveness in the global market.

Investment

Analysis of key foreign investment statistics in Panama:

Summary

Panama has negative values in most key foreign investment indicators, such as foreign direct investment, net inflows and outflows, and portfolio investments. These figures indicate a net outflow of foreign investment from Panama, which may raise concerns about the country's attractiveness to foreign investors and its ability to sustain economic growth through external investments.

These statistics are crucial as they reflect Panama's economic relationships with other countries, its ability to attract and retain foreign capital, and its overall economic stability. A consistently negative trend in foreign investment indicators could potentially signal challenges in Panama's economy that may require attention from policymakers to address and improve the investment climate in the country.

Debt

1. Total debt service (% of GNI): Panama's total debt service accounts for 12.38% of its GNI, which is 6.40% higher than the average among 120 countries, ranking 13th in the dataset.

2. Public and publicly guaranteed debt service (% of GNI): The country's public and publicly guaranteed debt service is 5.20% of its GNI, 2.35% higher than the average, placing Panama 18th out of 120 countries.

3. External debt stocks (% of GNI): Panama's external debt stocks represent 199.08% of its GNI, significantly higher than the average among 120 countries, ranking 4th in the dataset.

4. Debt service on external debt, total (TDS, current US$): Panama's total debt service on external debt amounts to $6.77 billion, which is below the average, placing the country 22nd out of 123 countries.

5. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): The country's debt service on public and publicly guaranteed external debt is $2.84 billion, ranking 24th out of 123 countries.

6. External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): Panama's external debt stocks in this category amount to $29.70 billion, surpassing the average and ranking 28th out of 123 countries.

7. External debt stocks, private nonguaranteed (PNG) (DOD, current US$): The country's external debt stocks in the private nonguaranteed sector total $42.67 billion, significantly higher than the average and ranking 17th out of 91 countries.

8. External debt stocks, total (DOD, current US$): Panama's total external debt stocks reach $108.87 billion, ranking 19th out of 123 countries, indicating a substantial difference from the average.

Summary

Panama's macroeconomic indicators reveal a high level of debt exposure, with total debt service, public debt service, and external debt stocks well above the global averages. These statistics underscore the country's significant reliance on external financing, particularly in the private nonguaranteed sector. The high levels of debt suggest a potential risk of debt distress and emphasize the importance of prudent fiscal management and sustainable borrowing practices to ensure long-term economic stability and growth.

Broad Trade Attributes

Regarding Merchandise trade (% of GDP), Panama's value of 42.43% is below the average of 60.01%. The country is ranked 124 out of 186 countries in this attribute data.

As for Trade in services (% of GDP), Panama's value stands at 19.98%, lower than the average of 24.63%. In this attribute, Panama is ranked 62 out of 171 countries.

Summary

Panama's merchandise trade as a percentage of GDP is below the global average, indicating potential room for growth in international trade activities. Additionally, its trade in services as a percentage of GDP is also lower than the average, suggesting opportunities for expanding service-based industries. Addressing these gaps could enhance Panama's economic diversification, competitiveness, and overall economic growth.

Net Trade

Analysis of Key Macroeconomic Indicators for Panama:

1. Current account balance (BoP, current US$): Panama's current account balance is -189,254,249.11 USD, significantly below the average of 1,443,864,831.49 USD. Panama ranks 86th out of 170 countries for this indicator.

2. Current account balance (% of GDP): Panama's current account balance as a percentage of GDP is -0.33%, which is above the average of -2.36%. Panama is ranked 72nd out of 170 countries for this metric.

3. Net trade in goods and services (BoP, current US$): Panama's net trade in goods and services is 2,177,976,912.28 USD, below the average of 2,604,730,003.57 USD. Panama ranks 46th out of 171 countries in this category.

4. Net primary income (BoP, current US$): Panama's net primary income is -2,402,549,083.79 USD, notably lower than the average of -903,807,529.74 USD. Panama holds the 124th position out of 170 countries for this attribute.

5. Net secondary income (BoP, current US$): Panama's net secondary income is 35,317,922.40 USD, exceeding the average of -269,227,340.40 USD. Panama ranks 113th out of 170 countries in this regard.

6. Net trade in goods (BoP, current US$): Panama's net trade in goods is -2,801,549,710.31 USD, significantly under the average of 1,302,831,005.68 USD. Panama is placed 128th out of 171 countries for this statistic.

7. Net capital account (BoP, current US$): Panama's net capital account is 11,094,357 USD, below the average of 136,543,824.05 USD. Panama ranks 107th out of 159 countries for this indicator.

8. Net financial account (BoP, current US$): Panama's net financial account is 582,329,190.99 USD, surpassing the average of -469,840,994.63 USD. Panama holds the 49th position out of 170 countries in this category.

Summary

In analyzing key macroeconomic indicators for Panama, it is evident that the country has a mixed performance. Panama's current account balance is in deficit, but its net trade in goods and services shows a surplus. The net primary income is notably negative, while the financial account is positive, indicating capital inflows. These indicators are crucial as they reflect Panama's economic relationships with the rest of the world, showcasing areas of strength and weakness in its international trade and financial activities.

Broad Export Attributes

Exports of goods, services and primary income in Panama amount to $21,217,450,817.11, which is below the average of $146,238,908,936.30. Panama ranks 74th out of 170 countries in this category.

Panama's exports of goods and services total $19,792,020,039.90, also falling below the average of $122,938,540,059.78. The country ranks 76th out of 170 countries for this attribute.

Regarding goods exports, Panama's value is $11,600,671,024.86, below the average of $93,310,581,697.39. The country ranks 78th out of 171 countries for goods exports.

International tourism receipts in Panama represent 9.30% of total exports, below the average of 9.74%. Panama ranks 33rd out of 120 countries with data available in this category.

ICT goods exports account for 17.82% of Panama's total goods exports, significantly above the average of 3.81%. Panama holds the 9th rank out of 142 countries for this attribute.

Summary

Overall, Panama's export performance falls below global averages across various categories such as total exports, goods exports, and international tourism receipts. However, the country stands out in the export of ICT goods, with a significantly higher proportion compared to the global average. These findings are important as they highlight both areas of weakness and strength in Panama's international trade competitiveness, indicating potential areas for further development and specialization to enhance the country's economic growth and diversification.

Merchandise Exports

1. Panama's Merchandise exports amount to $9.48 billion. This is below the average of $89.54 billion, ranking Panama 85th out of 187 countries in the dataset.

2. Panama's Agricultural raw materials exports account for 4.34% of its merchandise exports, higher than the average of 2.97%. Panama ranks 28th out of 151 countries in this attribute.

3. Food exports make up 52.18% of Panama's merchandise exports, significantly above the average of 24.06%. Panama ranks 19th out of 152 countries in this category.

4. Panama's Fuel exports constitute only 0.38% of its merchandise exports, far below the average of 13.70%. This places Panama 120th out of 147 countries in fuel exports.

5. Ores and metals exports represent 32.30% of Panama's merchandise exports, much higher than the average of 9.10%. Panama ranks 17th out of 152 countries in this aspect.

6. The residual Merchandise exports by the reporting economy for Panama are at 2.83%, slightly below the average of 3.20%. Panama ranks 32nd out of 166 countries in this category.

Summary

Despite Panama having lower overall merchandise exports compared to the global average, the country performs exceptionally well in specific export categories such as agricultural raw materials, food, and ores/metals. These strengths have positioned Panama favorably in global rankings for these commodities, showcasing its comparative advantage in these sectors. Diversifying export products and tapping into these strengths further could drive economic growth and resilience for Panama in the face of global market fluctuations.

Technology Exports

When it comes to Manufactures exports (% of merchandise exports), Panama's value of 10.24% is significantly below the average of 42.62%. With a rank of 124 out of 152 countries, Panama has room for improvement in this aspect.

As for High-technology exports (current US$), Panama's value of $694,221 is remarkably lower than the average of $16,655,934,078.80. Panama ranks 140 out of 151 countries in this category.

High-technology exports (% of manufactured exports) in Panama stand at 0.74%, which is well below the average of 10.15%. This places Panama at rank 137 out of 150 countries.

Regarding Medium and high-tech exports (% manufactured exports), Panama's value of 7.69% is notably under the average of 34.29%. Panama holds the 129th position out of 149 countries in this metric.

Summary

Panama falls below the global average in key macroeconomic indicators related to exports such as Manufactures exports, High-technology exports, High-technology exports (% of manufactured exports), and Medium and high-tech exports. These lower values indicate a potential lack of diversification and competitiveness in Panama's export sector, highlighting the need for strategic policies to enhance technological capabilities, promote innovation, and develop high-value industries to boost economic growth and resilience in the global market.

Service Exports

Service exports (BoP, current US$): Panama's service exports amount to $8,191,531,015.04. This value is below the average of $28,917,292,503.82. Panama ranks 55th out of 171 countries in this attribute.

ICT service exports (BoP, current US$): Panama's ICT service exports are $423,316,795.05, significantly below the average of $4,578,501,153.77. Panama ranks 66th out of 166 countries in this attribute.

ICT service exports (% of service exports, BoP): Panama's ICT service exports account for 5.17% of its total service exports, below the average of 11.75%. Panama is ranked 111th out of 166 countries in this aspect.

Communications, computer, etc. (% of service exports, BoP): Panama's services in this category represent 10.52% of its total service exports, significantly lower than the average of 45.85%. Panama ranks 158th out of 169 countries.

Transport services (% of service exports, BoP): Panama's transport services constitute 64.53% of its total service exports, significantly above the average of 21.80%. Panama ranks 4th out of 169 countries in this attribute.

Travel services (% of service exports, BoP): Panama's travel services represent 13.79% of its total service exports, falling below the average of 26.40%. Panama ranks 107th out of 167 countries.

Insurance and financial services (% of service exports, BoP): Panama's insurance and financial services account for 11.17% of its total service exports, higher than the average of 6.46%. Panama is ranked 28th out of 161 countries in this category.

Summary

Panama's key macroeconomic indicators for service exports reveal a mixed performance compared to global averages. While the country excels in transport services, ranking 4th globally, it lags significantly in ICT service exports, communications, computer services, and travel services. The higher-than-average contribution of insurance and financial services to Panama's total service exports indicates a strength in this sector that could be further leveraged for economic growth.

These findings are important as they highlight Panama's competitive advantage in transport services, suggesting potential for further development and investment in this sector. The lag in ICT service exports and other service categories, however, may point to areas needing improvement and increased competitiveness to diversify Panama's service export offerings and enhance overall economic resilience.

Commercial Service Exports

1. Commercial service exports (current US$): Panama's commercial service exports amount to $8,135,683,415.04. This is below the average of $28,508,218,402.80. Panama ranks 55th out of 171 countries in this attribute data.

2. Travel services (% of commercial service exports): Panama's travel services account for 13.88% of its commercial service exports, which is below the average of 27.89%. Panama ranks 108th out of 167 countries for this attribute.

3. Computer, communications and other services (% of commercial service exports): Panama's percentage, which is at 9.90%, is considerably lower than the average of 42.44%. Panama currently holds the 155th rank out of 169 countries for this metric.

4. Insurance and financial services (% of commercial service exports): Panama's insurance and financial services contribute 11.25% to its commercial service exports, surpassing the average of 6.97%. Panama ranks 30th out of 161 countries in this category.

5. Transport services (% of commercial service exports): With transport services accounting for 64.97% of Panama's commercial service exports, this figure is significantly above the average of 23.37%. Panama secures a notable 6th rank out of 169 countries for this attribute.

Summary

Panama's commercial service exports are below average compared to other countries, with a notable reliance on transport services which contribute significantly to its exports. The country performs well in terms of insurance and financial services but lags behind in travel services and computer, communications, and other services. These indicators are crucial as they showcase Panama's strengths and weaknesses in different service sectors, highlighting areas for potential growth and improvement in its macroeconomic strategy.

Broad Import Attributes

Analysis of Key Macro Stats for Panama:

1. International tourism, expenditures (% of total imports): Panama's value of 3.41% is slightly below the average of 3.98%. It ranks 57 out of 131 countries in the dataset.

2. ICT goods imports (% total goods imports): Panama's value of 11.49% is above the average of 6.85%. It secures a rank of 17 out of 143 countries.

3. Goods imports (BoP, current US$): Panama's import value of $14.40 billion is significantly below the average of $92.01 billion. It ranks 75 out of 171 countries.

4. Imports of goods and services (BoP, current US$): Panama's import value of $17.61 billion is notably lower than the average of $120.32 billion. It ranks 80 out of 170 countries.

5. Imports of goods, services and primary income (BoP, current US$): Panama's import value of $21.44 billion is well below the average of $144.51 billion. It ranks 78 out of 170 countries.

Summary

Based on the analysis of key macroeconomic indicators for Panama, it is evident that the country tends to have lower import values compared to the global averages across various categories such as goods imports, imports of goods and services, and imports of goods, services, and primary income. Panama's rankings in these indicators also indicate that it falls below the average when compared to a significant number of countries globally. These findings are important as they suggest potential challenges in diversifying the economy, reliance on domestic production, and the need to boost foreign trade to enhance economic growth and stability.

Merchandise Imports

1. Merchandise imports (current US$): Panama's merchandise imports amount to $14,740,000,000, ranking 81 out of 190 countries. This value is significantly below the average of $89,385,605,263.16.

2. Manufactures imports (% of merchandise imports): Panama's manufactures imports account for 78.60% of its total merchandise imports, ranking 15 out of 152 countries. This value is above the average of 66.76%.

3. Agricultural raw materials imports (% of merchandise imports): Panama's agricultural raw materials imports represent 0.22% of its merchandise imports, ranking 148 out of 152 countries. This percentage is notably below the average of 1.27%.

4. Food imports (% of merchandise imports): Panama's food imports make up 14.40% of its merchandise imports, placing it at rank 77 out of 152 countries. This value is slightly below the average of 15.89%.

5. Fuel imports (% of merchandise imports): Panama's fuel imports constitute 6.31% of its total merchandise imports, ranking 115 out of 152 countries. This percentage is lower than the average of 11.38%.

6. Ores and metals imports (% of merchandise imports): Panama's ores and metals imports make up 0.38% of its merchandise imports, ranking 148 out of 152 countries. This proportion is significantly under the average of 2.57%.

7. Merchandise imports by the reporting economy, residual (% of total merchandise imports): Panama's residual merchandise imports account for 0.07% of its total merchandise imports, placing it at rank 135 out of 180 countries. This figure is notably lower than the average of 2.51%.

Summary

Panamá demonstrates a significant reliance on manufactured goods, with imports constituting a substantial portion of its merchandise imports. The country also has a relatively low dependency on agricultural raw materials, food, ores, metals, and fuel imports compared to the global average. These indicators suggest that Panamá's economy is more geared towards industrial and manufactured products, which may impact its trade balance, industrial development, and overall economic resilience.

Service Imports

Service imports (BoP, current US$): Panama's service imports amount to $3,212,004,392.45. This is below the average service imports of $27,615,356,170.47. Panama ranks 81 out of 171 countries in this attribute data.

Communications, computer, etc. (% of service imports, BoP): Panama's percentage is 35.39%, lower than the average of 44.40%. Panama ranks 113 out of 169 countries in this attribute data.

Transport services (% of service imports, BoP): Panama's percentage is 38.67%, higher than the average of 32.90%. Panama ranks 56 out of 169 countries in this attribute data.

Travel services (% of service imports, BoP): Panama's percentage is 14.52%, slightly above the average of 14.14%. Panama ranks 64 out of 169 countries in this attribute data.

Insurance and financial services (% of service imports, BoP): Panama's percentage is 11.41%, surpassing the average of 8.53%. Panama ranks 38 out of 169 countries in this attribute data.

Summary

In analyzing Panama's key macroeconomic indicators related to service imports, it is evident that Panama generally performs below average in terms of the total amount of service imports. However, Panama excels in specific service import categories such as transport services and insurance/financial services, surpassing the global average percentages in these areas. These findings are important as they highlight Panama's strengths and weaknesses in different service import sectors, which can provide insight into the country's economic structure and potential areas for growth and development.

Commercial Service Imports

- In terms of Commercial service imports (current US$), Panama's value is $3,151,118,297.24, which is below the average of $27,102,746,128.60. Panama ranks 81 out of 171 countries in this attribute.
- For Computer, communications and other services (% of commercial service imports), Panama's value is 34.14%, falling below the average of 41.71%. Panama holds the 106th rank out of 169 countries.
- Concerning Insurance and financial services (% of commercial service imports), Panama exceeds the average with a value of 11.64%, compared to the average of 8.85%. Panama ranks 40th out of 169 countries.
- Regarding Transport services (% of commercial service imports), Panama's value of 39.41% is above the average of 34.71%. The country holds the 58th rank out of 169 countries.
- Finally, for Travel services (% of commercial service imports), Panama's value of 14.81% is slightly above the average of 14.73%. Panama ranks 64th out of 169 countries in this aspect.

Summary

Panama's macroeconomic indicators for commercial service imports show mixed performance compared to global averages. The country falls below the average in Computer, communications, and other services, while exceeding the average in Insurance and financial services. Panama's ranking in these indicators highlights its relative position in the global market. Understanding these metrics is crucial for policymakers and investors to assess Panama's trade competitiveness and economic diversification strategies.

Infrastructure

For Air transport, freight (million ton-km), Panama's value of 73.43 million ton-km is significantly below the average of 1384.37 million ton-km, placing Panama at a rank of 55 out of 126 countries in the dataset.

Regarding Air transport, registered carrier departures worldwide, Panama's 32,578 departures is well below the average of 134,365 departures, ranking Panama at 54 out of 149 countries.

In terms of Air transport, passengers carried, Panama transported 3,074,172 passengers, which is notably lower than the average of 11,848,243 passengers, positioning Panama at rank 48 out of 149 countries.

Lastly, for Container port traffic (TEU: 20 foot equivalent units), Panama's volume of 7,772,432 TEUs is above the average of 6,907,110 TEUs, placing Panama at rank 23 out of 110 countries.

Summary

Panama exhibits below-average performance in air transport metrics such as freight volume, registered carrier departures, and passenger traffic, ranking 55th, 54th, and 48th respectively out of the countries analyzed. However, Panama excels in container port traffic, surpassing the average TEUs handled, ranking 23rd among the countries reviewed.

These findings are crucial as they highlight Panama's strengths and weaknesses in its transportation sector. Addressing the deficiencies in air transport could enhance connectivity and trade opportunities, while the success in container port traffic underscores Panama's strategic position as a regional hub for maritime trade.

Information Technology Infrastructure

Panama has 6,371 secure internet servers, which is significantly below the average of 458,294. Panama ranks 78 out of 193 countries in this aspect.

With 1,483 secure internet servers per 1 million people, Panama again falls short of the average of 14,067. Panama is ranked 72 out of 193 countries in this metric.

Regarding individuals using the internet, Panama has 65.54% of its population online, slightly above the average of 64.77%. Panama ranks 109 out of 180 countries in this category.

In terms of fixed broadband subscriptions, Panama has 593,959 subscriptions, which is well below the average of 6,591,956. Panama holds the 84th rank out of 185 countries included in the data.

For mobile cellular subscriptions, Panama has 6,108,584 subscriptions, significantly below the average of 42,526,464. Panama ranks 114 out of 193 countries in this aspect.

Summary

Panama lags behind the global average in key internet infrastructure indicators such as secure internet servers and fixed broadband subscriptions. The country also falls short in terms of mobile cellular subscriptions and ranks relatively low in internet usage among its population. These findings are crucial as they highlight Panama's digital divide compared to other countries, which could impact its competitiveness, innovation, and overall socio-economic development in an increasingly interconnected world.

Energy Consumption

Considering the attribute "Renewable energy consumption (% of total final energy consumption," Panama's value of 28.43% is below the average of 32.18%. Panama is ranked 84th out of 191 countries in this category.

Regarding the attribute "CO2 emissions (kt)," Panama's value of 9582.7 kt is significantly below the average of 171895.94 kt. Panama is ranked 103rd out of 188 countries for CO2 emissions.

Summary

Panama's renewable energy consumption of 28.43% falls below the global average of 32.18%, positioning the country at 84th out of 191 nations. Additionally, its CO2 emissions of 9582.7 kt are notably lower than the worldwide average of 171895.94 kt, ranking Panama 103rd out of 188 countries for CO2 emissions. These statistics indicate Panama's efforts in sustainability and environmental protection, reflecting a conscientious approach towards energy usage and emissions reduction which can enhance its reputation, attract eco-conscious investments, and contribute positively to global climate initiatives.

Government Balance Sheet

1. Total reserves (% of total external debt): Panama's total reserves as a percentage of total external debt is 8.83%, significantly below the average of 66.13%. This places Panama at a rank of 98 out of 102 countries in the dataset.

2. Reserves and related items (BoP, current US$): Panama's reserves in this category amount to $5,031,275,444.66, which is substantially higher than the average of $1,924,407,186.58. This places Panama at a rank of 20 out of 171 countries.

3. Total reserves minus gold (current US$): Panama's total reserves minus gold stand at $9,613,847,648.57, notably lower than the average of $74,221,588,171.61. This places Panama at a rank of 68 out of 161 countries.

4. Total reserves (includes gold, current US$): Panama's total reserves including gold amount to $9,613,847,648.57, considerably lower than the average of $85,708,019,773.47. This places Panama at a rank of 72 out of 161 countries.

5. Total reserves in months of imports: Panama's total reserves in months of imports is 5.38 months, below the average of 7.10 months. This places Panama at a rank of 81 out of 151 countries in the dataset.

Summary

Overall, Panama's total reserves in various categories such as % of total external debt, reserves and related items, total reserves minus gold, total reserves including gold, and total reserves in months of imports are below average compared to a global dataset. This indicates that Panama may have limited financial cushion in case of economic shocks or disruptions in trade, potentially making the country more vulnerable to external pressures and crises.

Government Revenue

Analysis of key stats for various revenue attributes in Panama:

1. Revenue, excluding grants (% of GDP): Panama's value is 11.51%, below the average of 27.02%. It ranks 113 out of 122 countries in this attribute.

2. Grants and other revenue (% of revenue): Panama's value is 30.62%, above the average of 23.54%. It ranks 25 out of 108 countries.

3. Social contributions (% of revenue): Panama's value is 0.03%, significantly below the average of 22.29%. It ranks 81 out of 81 countries.

4. Taxes on goods and services (% of revenue): Panama's value is 33.36%, above the average of 31.82%. It ranks 56 out of 122 countries.

5. Taxes on international trade (% of revenue): Panama's value is 3.27%, below the average of 6.24%. It ranks 54 out of 101 countries.

6. Other taxes (% of revenue): Panama's value is 1.87%, below the average of 2.12%. It ranks 36 out of 106 countries.

7. Taxes on income, profits, and capital gains (% of revenue): Panama's value is 30.84%, above the average of 24.66%. It ranks 34 out of 119 countries.

Summary

Analysis of key stats for various revenue attributes in Panama:

Panama stands out with a relatively low revenue, excluding grants (% of GDP) at 11.51%, ranking 113 out of 122 countries. However, it compensates with grants and other revenue at 30.62%, above the average of 23.54%, ranking 25 out of 108 countries. Panama's taxation structure is also noteworthy, with high taxes on goods and services, income, profits, and capital gains compared to the global averages.

These statistics are crucial as they provide insights into Panama's revenue sources and the effectiveness of its taxation system. A high dependency on grants and revenue from taxes on goods and services and income signifies potential areas of strength or vulnerability in the country's fiscal policies. Understanding these figures can aid policymakers in making informed decisions to ensure sustainable economic growth and financial stability in Panama.

Taxes

- Tax revenue (% of GDP): Panama's tax revenue as a percentage of GDP is 8.05%, which is below the average of 16.72%. Panama is ranked 116 out of 123 countries in this aspect.
- Customs and other import duties (% of tax revenue): Panama's value is 4.72%, lower than the average of 9.01%. The country is ranked 53 out of 99 countries for this metric.
- Taxes on income, profits and capital gains (% of total taxes): Panama's 44.47% is above the average of 38.40%. Panama ranks 37 out of 120 countries in this category.
- Tariff rate, applied, weighted mean, all products (%): Panama's rate stands at 5.77%, slightly higher than the average of 5.21%. The country is ranked 60 out of 153 nations in this aspect.

Summary

Panama's tax revenue as a percentage of GDP is below the global average, ranking 116 out of 123 countries. However, the country collects a higher proportion of taxes from income, profits, and capital gains compared to the average. Panama's lower than average customs and import duties as a percentage of tax revenue may indicate a reliance on other sources of revenue or a strategic approach to trade. These indicators are vital as they highlight Panama's tax structure, trade policies, and economic priorities in comparison to other nations.

Government Expenses

Expense (% of GDP): In Panama, the expense as a percentage of GDP stands at 19.26%, which is below the average of 31.69%. Panama ranks 100 out of 123 countries in this attribute.

Compensation of employees (% of expense): Panama allocates 32.37% of its expenses to employee compensation, higher than the average of 24.70%. Panama ranks 38 out of 123 countries in this attribute.

Goods and services expense (% of expense): Panama's allocation of 7.69% towards goods and services expense is below the average of 14.77%. Panama holds the 95th rank out of 122 countries in this category.

Interest payments (% of expense): Panama's dedication of 12.87% of expenses to interest payments is above the average of 6.85%. The country ranks 16 out of 121 nations in this metric.

Other expense (% of expense): Panama's expenditure of 22.98% on other expenses is notably higher than the average of 8.29%. With a rank of 4 out of 120 countries, Panama is a significant spender in this area.

Subsidies and other transfers (% of expense): Panama's allocation of 24.08% for subsidies and other transfers is lower than the average of 43.29%. Panama ranks 101 out of 121 countries in this spending category.

Summary

In analyzing Panama's key macroeconomic indicators, it is evident that the country tends to have a lower overall expense as a percentage of GDP compared to the average of the countries studied. However, Panama's allocation towards interest payments and other expenses surpasses the average significantly. These findings are important as they highlight Panama's spending priorities and financial management strategies, shedding light on areas where the country may need to adjust or maintain its fiscal policies for sustainable economic development.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Average precipitation in depth (mm per year) 4/178
Services, value added (% of GDP) 18/183
Food, beverages and tobacco (% of value added in manufacturing) 6/92
External debt stocks (% of GNI) 4/120
ICT goods exports (% of total goods exports) 9/142
Transport services (% of service exports, BoP) 4/169
Transport services (% of commercial service exports) 6/169
Manufactures imports (% of merchandise imports) 15/152
Other expense (% of expense) 4/120

Ranks in Bottom Decile For:

Attribute Rank/Total
Inflation, consumer prices (annual %) 159/165
S&P Global Equity Indices (annual % change) 76/79
Foreign direct investment, net inflows (BoP, current US$) 173/182
Foreign direct investment, net inflows (% of GDP) 171/178
Foreign direct investment, net outflows (BoP, current US$) 148/156
Foreign direct investment, net outflows (% of GDP) 148/155
High-technology exports (current US$) 140/151
High-technology exports (% of manufactured exports) 137/150
Communications, computer, etc. (% of service exports, BoP) 158/169
Computer, communications and other services (% of commercial service exports) 155/169
Agricultural raw materials imports (% of merchandise imports) 148/152
Ores and metals imports (% of merchandise imports) 148/152
Total reserves (% of total external debt) 98/102
Revenue, excluding grants (% of GDP) 113/122
Social contributions (% of revenue) 81/81
Tax revenue (% of GDP) 116/123