Panama
The economy of Panama is a fully dollarized free market economy with a history of low inflation. It is based mainly on the services industry, heavily weighted toward banking, commerce, and tourism. The hand-over of the canal and military installations by the United States has given rise to new construction projects. The Country's natural resources are copper, mahogany forests, shrimp, and hydropower. It exports gold, bananas, shrimp, sugar, iron and steel waste, pineapples, watermelon. And it imports fuel products, medicines, vehicles, iron and steel rods, cellular phones.

Descreptive Data

Unemployment, %5.96
Ages 15-24 Population Ratio, %41.082
Population Over 65, %4.8
Net Migration Rate56000
EIU Country Risk Score43
Fitch Sovereign RatingBBB
S&P Sovereign RatingBBB+
Moody's Sovereign RatingBaa1
Big Mac Index

Economic Data

201620172018
Ability to Pay
Real GDP YOY%4.5%4.9%4%
GDP Value (BLN USD)556265
GDP per Capita (USD)136701508915643
Currency Reserves ex Gold (BLN USD)3.82.72.1
Reserves 1Y Chg (%)14%-30%-22%
Total External Debt (%GDP)39%38%
Total External Debt (BLN USD)2124
Budget Surplus/def (%GDP)
Inflation (Risk)
CPI (yoy %)0.8%0.9%0.8%
Trade Balance
Current Account (% of GDP)-5.7%-4.9%-7.8%
Exports (BLN USD)353944
Imports (BLN USD)121313
Unemployment Rate
Unemployment (%)5.5%6%6%

Financial Data

201620172018
Equity & Banking Sector (Risk)
1Y Price Change (%) (BVPSBVPS Index)2.4%7.2%1.8%
EIU Banking Risk3541
Credit Market (Risk)
10Y Bond Spread (10Y UST)124129118
5Y CDS1276785
Foreign Exchange (Risk)
3 Month Deposit (%)2.1%2.2%
FX Vol - 3M Implied Vol117.37.3
Historical 3M Volatility9.25.97
Real Effective Exchange Rate117112117
Real Rates (%)1.3%1.2%

Political Risk

201620172018
Political Risk Exposure
EIU Political Risk3838
Risk From Doing Business
Ease of Doing Business Rank677079
Starting a Business Rank414339
Risk From Government
WGI Control Of Corruption-0.5-0.5-0.6
WGI Govt Effectiveness0.20.01-0.02
WGI Regulatory Quality0.40.40.4
WGI Rule Of Law0.030.04-0.06
Deviation of Panama's risk relative to Geo Peers
-100 = min risk100 = max risk,
Less RiskPeer AverageMore Risk