Facts and figures of Panama

(Numbers in parentheses refer to the OECD average)
The land, people and electoral cycle

Population (million)

4 037 043

Official and national language

Spanish

Under 15 (%)

1 064 657

Form of government

Presidential republic

Life expectancy (years)

78

Land area (km2)

74 177.30

The economy

GDP, current prices (billion USD)

52.13

In % of GDP

Latest 5-year average real GDP growth

6.57 (1.8)

Exports of goods and services

52.2 (27.7)

GDP per capita, PPP (thousand, current international USD)

21.97 (40.9)

Imports of goods and services

51.7 (27.4)

GDP per capita (thousand, current USD)

13.1 (36.7)

Exports composition (% of total exports)

Inflation rate (%)

0.7

Goods

4.9

General government revenue (% of GDP)

20.4 (40.3)

Services

95.1

General government total expenditure (% of GDP)

22.7 (42)

GDP shares (%)

General government gross debt (% of GDP)

38.7 (71.3)

Agriculture

2.9 (1.6)

General government net borrowing (% of GDP)

-2.3 (-1.7)

Industry

27.7 (24.0)

Current account balance (% of GDP)

-7.28 (2.15)

Services

69.4 (74.3)

The labour market

Labour force participation (%)

64.4 (71.3)

Unemployment rate (%)

4.4 (7.0)

Employment rate (%)

61.6 (67.0)

Youth unemployment rate (aged 15-24, %)

9.5 (13.5)

Informal economy

40.2

The environment

CO2 emissions (kg per 2005 PPP USD of GDP)

0.14 (0.26)

Renewables (% of total primary electricity supply)

19.1 (9.6)

Forest area (% of land area)

62 (31)

Well-being

% Believe corruption is widespread throughout the government

83.9 (64.1)

% Satisfied with the educational system

69.4 (74.5)

% Have confidence in the honesty of elections

43.9 (59.4)

% Satisfied with their standard of living

76.6 (75.0)

% Not enough money for food

42.1 (13.1)

% Satisfied with water quality

74.5 (84.5)

% Not enough money for shelter

33.0 (11.3)

% Who feels safe walking alone at night

72.4 (50.8)

% Satisfaction with the roads

61.4 (66.2)

% With someone to count on to help

90.2 (88.3)

% Satisfied with affordable housing

50.8 (56.7)

Life satisfaction (Cantrill ladder)

6.6 (6.5)

% Satisfied with air quality

74.6 (80.5)

Notes: a) Data for 2014, b) data for 2015, c) data for 2016.

Sources: INEC (2017), Instituto Nacional de Estadística y Censo (National Institute of Statistics and Census) (https://www.contraloria.gob.pa/inec/); IMF (2015), World Economic Outlook Database, International Monetary Fund, April 2017 edition, Washington DC; OECD (2017), June 2017 Economic Outlook database; OECD.STAT (2017), http://stats.oecd.org/; OECD (2015), Better life index 2015 (database), Paris; OECD (2016), OECD Employment Outlook 2016, OECD Publishing, Paris, http://dx.doi.org/10.1787/empl_outlook-2016-en; OECD/ECLAC/CAF (2016), Latin American Economic Outlook 2017: Youth, Skills and Entrepreneurship, OECD Publishing, Paris; World Bank (2015), World Development Indicators (database), http://data.worldbank.org/, Washington DC.

Administrative regions of Panama
picture

Source: Ministry of Economy and Finance of Panama.