Updated in September 2021.
Strong rebound
BB2
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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GDP | USD52.9bn (World ranking 79, World Bank 2020) |
Population | 4.3mn (World ranking 127, World Bank 2020) |
Form of state | Presidential Republic |
Head of government | Laurentino CORTIZO (president) |
Next elections | 2024, presidential and legislative |

- Trade hub based on the Panama Canal and the Colon free trade zone
- Regional financial hub and international banking center
- Business environment above regional average
- Stable political system

- Vulnerability to external shocks (global trade and financial links)
- Rule of law and control of corruption are below average
- Informality of the job markets (estimates: up to 50% of workers)
- Deficiencies in education and vocational training
Trade structure by destination/origin
(% of total, annual 2020)
Exports | Rank | Imports |
---|---|---|
United States
17.3%
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1 |
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Netherlands
13.4%
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2 |
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Costa Rica
5.8%
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3 |
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China
5.4%
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4 |
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India
4.8%
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5 |
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Trade structure by product
(% of total, annual 2020)
Exports | Rank | Imports |
---|---|---|
Organic chemicals
10.9%
|
1 |
17.3%
Petroleum & related products
|
Other transport equipment
9.4%
|
2 |
13.5%
Other transport equipment
|
Medicinal and pharmaceutical products
9.3%
|
3 |
11.1%
Organic chemicals
|
Vegetables and fruits
9.3%
|
4 |
5.1%
Medicinal and pharmaceutical products
|
Petroleum & related products
7.6%
|
5 |
4.9%
Articles of apparel & clothing accessories
|
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