Panama: Trade (% of GDP)
In , Panama's Trade (% of GDP) was 83.67.
That's down 5.3% from 2023, the highest value since .
The global average for this indicator in 2024 was 92.19 . Panama ranks #77 globally out of 160 reporting countries. Within Latin America & Caribbean, it ranks #8 of 24.
Source: World Bank Open Data (NE.TRD.GNFS.ZS) • 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
- 164.59
- Trough
- 68.70
- 1-year change
- -5.3%
- 5-year change
- +4.0%
- +0.8% / yr
- 10-year change
- -27.2%
- -3.1% / yr
Historical Data — Last 10 Years
| Year | Trade (% of GDP) |
|---|---|
| 83.6738 | |
| 88.3489 | |
| 93.4753 | |
| 80.1335 | |
| 68.7004 | |
| 80.4287 | |
| 86.1310 | |
| 84.0475 | |
| 84.3960 | |
| 96.5792 |
About Trade (% of GDP)
Trade is the sum of exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Indicator code: NE.TRD.GNFS.ZS • Category: Economy
Frequently asked questions
- What was Panama's Trade (% of GDP) in 2024?
- In 2024, Panama's Trade (% of GDP) was 83.67, according to World Bank Open Data.
- Is Panama's Trade (% of GDP) rising or falling?
- Panama's Trade (% of GDP) fell 5.3% from 2023 to 2024.
- How does Panama rank globally on Trade (% of GDP)?
- In 2024, Panama ranked #77 out of 160 countries reporting Trade (% of GDP).
- How does Panama's Trade (% of GDP) compare to the world average?
- The global average for Trade (% of GDP) in 2024 was 92.19, so Panama is below the world average. Within Latin America & Caribbean, it ranks #8 of 24.
- What is Trade (% of GDP) and how is it measured?
- Trade is the sum of exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Source: World Bank Open Data (NE.TRD.GNFS.ZS), CC BY 4.0.