Panama: Trade balance, percent of GDP
* indicates monthly or quarterly data series
| Panama |
Trade balance as percent of GDP |
|---|---|
| Latest value | -0.07 |
| Year | 2022 |
| Measure | percent |
| Data availability | 1960 - 2022 |
| Average | -6.34 |
| Min - Max | -15.96 - 4.81 |
| Source | The World Bank |
The latest value from 2022 is -0.07 percent, a decline from 3.45 percent in 2021. In comparison, the world average is -5.90 percent, based on data from 161 countries. Historically, the average for Panama from 1960 to 2022 is -6.34 percent. The minimum value, -15.96 percent, was reached in 1998 while the maximum of 4.81 percent was recorded in 2020.
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* indicates monthly or quarterly data series
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The trade balance for Panama and other countries is calculated as the difference between the exports and imports of goods and services, as percent of GDP. A positive number means trade surplus and a negative number means trade deficit.
Definition: External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services).
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 106.47 | 2021 | percent |
| Trade openness | 89.53 | 2023 | percent |
| Financial openness | 2.299 | 2021 | index points |
| Exports, percent of GDP | 46.47 | 2023 | percent |
| Exports, billion dollars | 38.72 | 2023 | billion U.S. dollars |
| Growth of exports | 26.19 | 2022 | percent |
| Imports, percent of GDP | 47.99 | 2022 | percent |
| Imports, billion dollars | 35.88 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 2.79 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 2.33 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 2023 | million dollars (current) |
| Current account, percent of GDP | -0.62 | 2022 | percent |
| Current account, in dollars | -3.74 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | -0.07 | 2022 | percent |
| Trade balance, in dollars | 0.43 | 2023 | billion U.S. dollars |
| Reserves | 6.76 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 0.64 | 2023 | percent |
| Remittances | 529.96 | 2023 | million U.S. dollars |
| Net errors and omissions | 1,487.46 | 2023 | million USD |
| External debt | 199.08 | 2020 | percent |