Panama: Personal remittances, paid (current US$)
In , Panama's Personal remittances, paid (current US$) was 596.17 million.
That's up 11.3% from 2023, the highest value since .
The global average for this indicator in 2024 was $3.08 billion . Panama ranks #66 globally out of 202 reporting countries. Within Latin America & Caribbean, it ranks #9 of 37.
Source: World Bank Open Data (BM.TRF.PWKR.CD.DT) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 838.79M
- Trough
- 87.60M
- 1-year change
- +11.3%
- 5-year change
- -27.6%
- -6.3% / yr
- 10-year change
- -26.8%
- -3.1% / yr
Historical Data — Last 10 Years
| Year | Personal remittances, paid (current US$) |
|---|---|
| 596.170M | |
| 535.626M | |
| 563.382M | |
| 550.867M | |
| 508.879M | |
| 823.652M | |
| 797.139M | |
| 838.408M | |
| 838.790M | |
| 828.900M |
About Personal remittances, paid (current US$)
Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.
Indicator code: BM.TRF.PWKR.CD.DT • Category: Trade & Finance
Frequently asked questions
- What was Panama's Personal remittances, paid (current US$) in 2024?
- In 2024, Panama's Personal remittances, paid (current US$) was 596.17 million, according to World Bank Open Data.
- Is Panama's Personal remittances, paid (current US$) rising or falling?
- Panama's Personal remittances, paid (current US$) rose 11.3% from 2023 to 2024.
- How does Panama rank globally on Personal remittances, paid (current US$)?
- In 2024, Panama ranked #66 out of 202 countries reporting Personal remittances, paid (current US$).
- How does Panama's Personal remittances, paid (current US$) compare to the world average?
- The global average for Personal remittances, paid (current US$) in 2024 was $3.08 billion, so Panama is below the world average. Within Latin America & Caribbean, it ranks #9 of 37.
- What is Personal remittances, paid (current US$) and how is it measured?
- Personal remittances comprise personal transfers and compensation of employees. Personal transfers consist of all current transfers in cash or in kind made or received by resident households to or from nonresident households. Personal transfers thus include all current transfers between resident and nonresident individuals. Compensation of employees refers to the income of border, seasonal, and other short-term workers who are employed in an economy where they are not resident and of residents employed by nonresident entities. Data are the sum of two items defined in the sixth edition of the IMF's Balance of Payments Manual: personal transfers and compensation of employees. Data are in current U.S. dollars.
Source: World Bank Open Data (BM.TRF.PWKR.CD.DT), CC BY 4.0.