This page has economic forecasts for Panama including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Panama economy.


Overview Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 6.10 6.3 6.5 6.5 6.5 6.4 percent
Inflation Rate 0.80 1.6 1.5 1.6 1.6 1.8 percent
Interest Rate 1.36 1.75 1.75 1.75 1.5 2.25 percent
Balance of Trade -952396.00 -1115000 -1018500 -978000 -1019000 -1035000 PAB Thousand
Government Debt to GDP 39.20 39.7 42 42 42 43 percent
MARKETS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Currency 1.00
1 1 1 1 1
Stock Market 461.74
points
457 455 453 451 443
GDP Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
GDP Annual Growth Rate 3.10
percent
4.2 4.6 4.7 4.7 5
GDP 61.84
USD Billion
66.45 70 70 70 76.8
GDP per capita 11513.28
USD
11540 12000 12000 12000 13200
GDP per capita PPP 22267.00
USD
23200 24100 24100 24100 25500
GDP Constant Prices 10084.25
PAB Million
10903 10784 10558 10700 11987
GDP From Agriculture 187.81
PAB Million
208 187 197 238 208
GDP From Construction 1409.21
PAB Million
1630 1730 1475 1639 1730
GDP From Manufacturing 555.80
PAB Million
515 554 582 550 545
GDP From Mining 162.46
PAB Million
193 201 170 190 212
GDP From Transport 1441.84
PAB Million
1555 1446 1510 1426 1630
GDP From Utilities 400.11
PAB Million
419 425 419 428 460
LABOUR Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Unemployment Rate 6.10
percent
6.3 6.5 6.5 6.5 6.4
Population 4.10
Million
4.2 4.2 4.2 4.2 4.3
Wages 1146.00
PAB/Month
1400 1500 1500 1500 1600
PRICES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Inflation Rate 0.80
percent
1.6 1.5 1.6 1.6 1.8
Inflation Rate Mom 0.00
percent
0.6 0.7 0.6 0.07 0.5
Food Inflation -0.20
percent
0.4 0.8 0.95 1.2 0.8
Consumer Price Index Cpi 105.49
Index Points
106 107 107 107 110
Cpi Housing Utilities 102.30
Index Points
103 103 103 104 107
CPI Transportation 107.40
Index Points
106 107 110 109 109
MONEY Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Interest Rate 1.36
percent
1.75 1.75 1.75 1.5 2.25
Deposit Interest Rate 2.16
percent
2.55 2.55 2.55 2.3 3.05
TRADE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Balance of Trade -952396.00
PAB Thousand
-1115000 -1018500 -978000 -1019000 -1035000
Exports 43588.00
PAB Thousand
50000 66500 62000 61000 65000
Imports 995984.00
PAB Thousand
1165000 1085000 1040000 1080000 1100000
Current Account -748.00
PAB Million
-900 -785 -800 -802 -700
Current Account to GDP -6.10
percent
-5.7 -5.4 -5.4 -5.4 -5
Capital Flows -1562.00
PAB Million
-1900 -2000 -1582 -1481 -1300
Remittances 443.70
USD Million
521 507 494 481 439
Terrorism Index 0.15
0.15 0.15 0.15 0.15 0.15
Foreign Direct Investment 1365.90
USD Million
1100 1300 1420 1530 1465
GOVERNMENT Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Government Debt to GDP 39.20
percent
39.7 42 42 42 43
Government Budget -3.10
percent of GDP
-3.2 -3.1 -3.1 -3.1 -3.1
BUSINESS Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Industrial Production 0.30
percent
1.3 1.1 1.2 1.2 1.4
Leading Economic Index 3.37
percent
4.4 4.8 4.7 5.2 5.3
Internet Speed 5900.46
KBps
8297 8463 8630 8778 8822
IP Addresses 463691.00
IP
443156 447018 443906 444850 444417
Ease of Doing Business 79.00
82 85 85 85 84
Car Registrations 1171.00
Units
1360 1378 1368 1367 1367
Competitiveness Index 61.03
Points
61.53 61.53 61.53 61.53 64.03
Competitiveness Rank 64.00
64 64 64 64 64
Corruption Index 37.00
Points
37 37 37 37 37
Corruption Rank 96.00
96 96 96 96 96
CONSUMER Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Gasoline Prices 0.88
USD/Liter
0.87 0.85 0.83 0.82 0.76
TAXES Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Corporate Tax Rate 25.00
percent
25 25 25 25 25
Personal Income Tax Rate 25.00
percent
25 25 25 25 25
Sales Tax Rate 7.00
percent
7 7 7 7 7
Social Security Rate 22.25
percent
22.25 22.25 22.25 22.25 22.25
Social Security Rate For Companies 12.50
percent
12.5 12.5 12.5 12.5 12.5
Social Security Rate For Employees 9.75
percent
9.75 9.75 9.75 9.75 9.75
CLIMATE Actual Q4/18 Q1/19 Q2/19 Q3/19 2020
Temperature 25.61
celsius
25.69 26.51 25.83 25.83 26.92
Precipitation 123.63
mm
290 54.81 212 212 213



Panama - Economic Forecasts - 2018-2020 Outlook