Panama: economy

What is Panama's GDP growth rate?

Panama's economy grew 6.4% in the second quarter of 2026 compared with a year earlier, up from 4.8% in the first quarter, according to the Ministry of Economy and Finance (MEF), reporting INEC's quarterly GDP estimate. The MEF also reports that the monthly economic activity index grew 5.4% in January to June and 8.2% in June alone, according to a September 2026 release.

The MEF names commerce, transport and logistics, tourism, a gradual recovery in construction and agribusiness as drivers. Quarterly growth rates compare each quarter with the same quarter a year earlier, so they are affected by how weak or strong that earlier quarter was.

Official sources: MEF: Economy accelerates to 6.4% in Q2 2026 · MEF: Growth and deficit release, September 2026

What is the inflation rate in Panama?

Consumer prices in urban Panama were 2.8% higher in September 2026 than a year earlier, according to INEC's consumer price index commentary for September 2026. Prices rose 0.5% in the month. The annual rate was 3.0% in Panamá province and 2.7% in the rest of urban Panama.

In September, transport prices rose 1.7%, driven by a 5.5% rise in fuels and lubricants, and electricity prices rose 4.0%. The index uses 2024 as its base year (2024 = 100) and covers the national urban area.

Official sources: INEC: CPI commentary, September 2026 (PDF)

How much does the Panama Canal earn?

Panama Canal toll revenue reached B/.2,207 million in the first half of 2026, 9.5% more than a year earlier, according to the Ministry of Economy and Finance. Net tonnage rose 9.2% and transits 7.1%. In August 2026, toll revenue was 2.9% higher than a year earlier and 8.4% higher for January to August, according to INEC's monthly economic indicators.

INEC reports that Panamax transits rose 6.9% and Neopanamax transits 0.1% in August.

Official sources: MEF: Growth and deficit release, September 2026 · INEC: Monthly economic indicators commentary, August 2026 (PDF)

What does Panama export?

The FOB value of Panama's goods exports was 16.8% lower in January to August 2026 than a year earlier, although August alone was 147.0% higher, according to INEC's monthly economic indicators commentary. In August, bananas rose 160.6%, fishmeal and fish oil 62.9% and beef 63.3%, while shrimp fell 43.2%. The CIF value of imports rose 17.6% in January to August.

These figures cover national goods exports and exclude re-exports from the Colón Free Zone, whose re-exports grew 24.9% in the first half of 2026, according to the Ministry of Economy and Finance.

Official sources: INEC: Monthly economic indicators commentary, August 2026 (PDF) · MEF: Growth and deficit release, September 2026

How many tourists visit Panama?

248,129 tourists entered Panama in July 2026, 23.4% more than the 201,132 of July 2025, according to INEC's preliminary international passenger movement figures for July 2026. In all, 368,473 passengers arrived, 18.4% more than a year earlier, and 284,783 of them were visitors.

INEC defines tourists as visitors who stay more than 24 hours and up to 90 days; same-day visitors, 32,376 in July, are counted separately. Tocumen International Airport handled 85.7% of visitor arrivals. Travellers through Tocumen came mainly from the United States (52,597), Colombia (35,519) and Ecuador (16,076). The figures come from the National Migration Service and the Panama Maritime Authority.

Official sources: international passenger movement figures for July 2026

What is GDP per head in Panama?

Panama's GDP per head was USD 19,790 in 2025, up from USD 19,161 in 2024 and USD 18,797 in 2023, according to World Bank Open Data. Panama uses the US dollar alongside the balboa, which is fixed at par, so the figure is not affected by exchange rate changes.

GDP per head is GDP divided by the mid-year population. The World Bank's Gini index of income inequality for Panama was 49.7 in 2024, so average income says little about typical household income. INEC compiles Panama's national accounts.

Official sources: World Bank Open Data · 49.7 in 2024

Is Panama's economy growing?

The World Bank puts real GDP growth in Panama at 4.4% in 2025. The peak was 16.5% in 2021 and the low -17.8% in 2020. It is 8th highest of 31 in Latin America & Caribbean, where the median is 2.7%. Worldwide: 62nd of 180.

How rich is Panama per person?

The latest figure from the World Bank, for 2025, is $19,790. That is the highest since at least 2005. It is 7th highest of 31 in Latin America & Caribbean, where the median is $10,989. World rank, highest first: 53rd of 180.

What is Panama's GDP per person adjusted for prices?

$43,902 in international dollars: that is GDP per person at purchasing power parity in Panama for 2025, according to the World Bank. That is the highest since at least 2005. It is 2nd highest of 30 in Latin America & Caribbean, where the median is $22,756 in international dollars. Worldwide: 50th of 179.

How big are Panama's exports?

According to the World Bank, exports of goods and services in Panama was 44.4% of GDP in 2024. Its high point since 2005 was 2008, at 78.3% of GDP; its low point was 2020, at 36.3% of GDP. It is 2nd highest of 22 in Latin America & Caribbean, where the median is 31.6% of GDP. Worldwide: 56th of 162.

Does Panama earn more abroad than it spends?

In 2025, the current account balance in Panama was -0.2% of GDP, according to the IMF (a deficit). Since 2005 it has ranged from -13.0% of GDP (2014) to 0.7% of GDP (2024). Across Latin America & Caribbean the middle value was -1.2% of GDP, and Panama placed 8th highest of 27. Of 132 countries with 2025 data, 58th highest.

How much foreign investment does Panama receive?

The latest figure from the IMF, for 2025, is 1.0% of GDP. Since 2005 it has ranged from -2.9% of GDP (2020) to 15.8% of GDP (2006). Across Latin America & Caribbean the middle value was 2.5% of GDP, and Panama placed 24th highest of 31. Of 179 countries with 2025 data, 125th highest.

What are bank lending rates in Panama?

6.9%: that is the average bank lending rate in Panama for 2022, according to the IMF. Since 2005 it has ranged from 6.5% (2015) to 8.8% (2007). It is 23rd highest of 27 in Latin America & Caribbean, where the median is 8.4%. Worldwide: 72nd of 96.