Strong rebound

BB2

MEDIUM RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Updated in September 2021.

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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%
1
17.4% United States
Netherlands 13.4%
2
17.2% China
Costa Rica 5.8%
3
11.3% Singapore
China 5.4%
4
10.7% Japan
India 4.8%
5
5.3% Colombia

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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