Iceland vs Panama: Trade as a share of GDP
Iceland
82.5%
in 2025
Panama
83.7%
in 2024
Iceland rank
95th
Panama rank
92nd
Trade as a share of GDP over time
- Iceland
- Panama
How they compare
Panama currently reports 83.7% against 82.5% in Iceland, a difference of 1.2%.
The two have swapped places 3 times across 55 shared years of data; in 1970 it was Panama ahead.
Iceland ranks 95th and Panama ranks 92nd of 191 countries.
Panama has averaged higher in every one of the 6 decades both report.
Head to head by decade
| Decade | Iceland | Panama | Difference | Ahead |
|---|---|---|---|---|
| 1970s | 70.8% | 129.3% | 58.5% | Panama |
| 1980s | 68.3% | 107.0% | 38.7% | Panama |
| 1990s | 64.6% | 146.7% | 82.1% | Panama |
| 2000s | 74.2% | 137.4% | 63.1% | Panama |
| 2010s | 93.0% | 113.6% | 20.7% | Panama |
| 2020s | 82.3% | 82.9% | 0.6% | Panama |
Averages of every year both report within each decade.
Frequently asked questions
- Which has higher trade as a share of gdp, Iceland or Panama?
- Panama, at 83.7% against 82.5% in Iceland as of 2024.
- What is the difference in trade as a share of gdp between Iceland and Panama?
- 1.2%, with Panama ahead.
- How many years of comparable data are there for Iceland and Panama?
- 55 years are reported by both, from 1970 to 2024.
- How do Iceland and Panama rank globally for trade as a share of gdp?
- Iceland ranks 95th and Panama ranks 92nd of 191 countries.
- Where does this data come from?
- National statistical organizations and central banks, OECD national accounts, and World Bank staff estimates (2026) – processed by Our World in Data, published as Trade as a share of GDP. Statizoid refreshes it automatically from the source and publishes the full history for both places.
Individual pages
About this data
Trade in goods and services as a share of GDP, shown as a percentage.