Imports of goods and services in Panama
Panama: Imports of goods and services was 39.3% in 2024. ▼ Falling
Imports of goods and services in Panama, 1960–2024
Source: Country official statistics, National Statistical Offices (NSOs). Measured in % of GDP.
Analysis
The most recent figure for imports of goods and services in Panama is 39.3%, measured in 2024.
The figure is down 8.0% on the previous year and down 34.6% over ten years.
Over the whole period, imports of goods and services in Panama peaked at 86.3% in 2008 and was at its lowest, 32.4%, in 2020.
That places Panama 111th out of 193 countries with data for 2024, putting it in the middle of the range.
The long-run direction has been consistently falling across the 65 years of available data.
Imports of goods and services in Panama, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1960 | 54.4% | — |
| 1961 | 53.7% | -1.3% |
| 1962 | 57.2% | +6.5% |
| 1963 | 60.1% | +5.1% |
| 1964 | 56.9% | -5.2% |
| 1965 | 58.2% | +2.3% |
| 1966 | 60.3% | +3.6% |
| 1967 | 58.4% | -3.2% |
| 1968 | 56.7% | -2.9% |
| 1969 | 59.9% | +5.6% |
| 1970 | 61.6% | +2.8% |
| 1971 | 60.7% | -1.4% |
| 1972 | 61.6% | +1.4% |
| 1973 | 60.2% | -2.2% |
| 1974 | 82.6% | +37.1% |
| 1975 | 80.8% | -2.1% |
| 1976 | 74.2% | -8.2% |
| 1977 | 71.7% | -3.4% |
| 1978 | 66.8% | -6.9% |
| 1979 | 72.9% | +9.2% |
| 1980 | 72.5% | -0.6% |
| 1981 | 71.4% | -1.4% |
| 1982 | 60.0% | -16.0% |
| 1983 | 46.0% | -23.3% |
| 1984 | 47.4% | +3.0% |
| 1985 | 48.6% | +2.6% |
| 1986 | 50.2% | +3.3% |
| 1987 | 51.2% | +2.0% |
| 1988 | 47.9% | -6.6% |
| 1989 | 57.3% | +19.8% |
| 1990 | 64.3% | +12.1% |
| 1991 | 75.9% | +18.0% |
| 1992 | 78.5% | +3.5% |
| 1993 | 75.6% | -3.7% |
| 1994 | 77.6% | +2.6% |
| 1995 | 80.1% | +3.2% |
| 1996 | 82.2% | +2.6% |
| 1997 | 85.8% | +4.4% |
| 1998 | 81.1% | -5.5% |
| 1999 | 67.8% | -16.4% |
| 2000 | 70.2% | +3.6% |
| 2001 | 66.9% | -4.8% |
| 2002 | 63.2% | -5.5% |
| 2003 | 59.1% | -6.4% |
| 2004 | 64.2% | +8.5% |
| 2005 | 71.0% | +10.6% |
| 2006 | 72.3% | +1.8% |
| 2007 | 76.7% | +6.1% |
| 2008 | 86.3% | +12.5% |
| 2009 | 67.1% | -22.3% |
| 2010 | 75.4% | +12.4% |
| 2011 | 80.5% | +6.7% |
| 2012 | 78.7% | -2.2% |
| 2013 | 68.5% | -12.9% |
| 2014 | 60.1% | -12.3% |
| 2015 | 49.2% | -18.1% |
| 2016 | 42.7% | -13.3% |
| 2017 | 42.6% | -0.2% |
| 2018 | 43.8% | +2.8% |
| 2019 | 40.2% | -8.2% |
| 2020 | 32.4% | -19.4% |
| 2021 | 38.5% | +18.8% |
| 2022 | 45.4% | +18.0% |
| 2023 | 42.7% | -6.0% |
| 2024 | 39.3% | -8.0% |
Panama compared with similar countries
- Panama's 39.3% is below the median for high income countries, which is 51.2%, 77% of the median. (72 countries reporting)
- Panama's 39.3% is above the median for Latin America & Caribbean, which is 39.3%, 1.0× the median. (29 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 57.6% | 53.7% | 60.3% | 10 |
| 1970s | 69.3% | 60.2% | 82.6% | 10 |
| 1980s | 55.3% | 46.0% | 72.5% | 10 |
| 1990s | 76.9% | 64.3% | 85.8% | 10 |
| 2000s | 69.7% | 59.1% | 86.3% | 10 |
| 2010s | 58.2% | 40.2% | 80.5% | 10 |
| 2020s | 39.7% | 32.4% | 45.4% | 5 |
Countries ranked near Panama
More economy & growth data for Panama
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.82 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps -870.79 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0096 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -190.5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 938.47 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -55.01 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0104 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 205.3 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate -8.97 % change on previous year (2025)
Frequently asked questions
- What is imports of goods and services in Panama?
- Imports of goods and services in Panama was 39.3% in 2024, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest imports of goods and services recorded in Panama?
- The highest recorded value was 86.3% in 2008.
- What is the lowest imports of goods and services recorded in Panama?
- The lowest recorded value was 32.4% in 2020.
- How does Panama rank for imports of goods and services?
- Panama ranks 111th out of 193 countries with data for 2024.
- Is imports of goods and services rising or falling in Panama?
- Over the last ten years it is down 34.6%. The long-run trend across the full record is falling.
- Where does this Panama data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Imports of goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Imports of goods includes change in the economic ownership of goods from non-residents to residents of the compiling economy, irrespective of physical movement of goods across national borders. Imports of services includes services provided by non-residents to residents. 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.