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Panama Trade (% GDP)

Panama's trade (% GDP) fell to 89.53% in 2023, down from 93.69% in 2022, according to World Bank. This represents a decrease of 4.16% from the previous year. Panama has trade (% GDP) higher than the global median (89.53% vs median 84.49%). Compared with the median in Americas, Panama is higher (89.53% vs regional median 78.04%) and ranks 13th out of 32 countries in Americas.

Yearly Historical Data (1960-2023)

(in %)
Year Trade (% GDP)
2023 89.53%
2022 93.69%
2021 80.13%
2020 68.7%
2019 80.43%
2018 86.13%
2017 84.05%
2016 84.4%
2015 96.58%
2014 114.97%
2013 133.07%
2012 153.21%
2011 158.21%
2010 145.45%
2009 137.05%
2008 164.59%
2007 148.67%
2006 141.47%
2005 139.21%
2004 124.76%
2003 117.27%
2002 126.02%
2001 135.58%
2000 139.2%
1999 131.56%
1998 158%
1997 174.71%
1996 165.61%
1995 146.91%
1994 143.61%
1993 139.68%
1992 144.88%
1991 140.25%
1990 121.79%
1989 109.6%
1988 97.67%
1987 98.59%
1986 97.33%
1985 94.06%
1984 91.88%
1983 93.14%
1982 116.78%
1981 133.72%
1980 137.5%
1979 131.86%
1978 125.82%
1977 137.02%
1976 137.07%
1975 149.83%
1974 150.14%
1973 113.78%
1972 115.02%
1971 115.05%
1970 117.37%
1969 117.29%
1968 113.98%
1967 114.73%
1966 116.11%
1965 112.67%
1964 109.42%
1963 112.75%
1962 110.35%
1961 100.85%
1960 100.17%
Panama Trade (% GDP) : Definition
Trade (% GDP) measures the sum of exports and imports for Panama divided by its total economic output, shown as a percentage.
Indicator Last Value Prior Value Period
Annual Exports $1.16B $3.37B 2024
Annual Imports $13.99B $14.52B 2024
Exports (% GDP) 46.47% 48.12% 2023
FDI Inflows (% GDP) 3.76% 2.87% 2024
Imports (% GDP) 43.06% 45.57% 2023
Net Trade (Goods & Services, BoP) $6.49B $1.98B 2024
Tariff Rate 5.93% 5.99% 2022