Insurance and financial services in Panama
Panama: Insurance and financial services was 9.8% in 2025. ▲ Rising
Insurance and financial services in Panama, 1977–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service exports, BoP.
Analysis
The most recent figure for insurance and financial services in Panama is 9.8%, measured in 2025.
That represents a change of down 6.0% on the previous year and down 20.7% over ten years.
Over the whole period, insurance and financial services in Panama peaked at 15.2% in 2008 and was at its lowest, 0.0%, in 1977.
Panama ranks 31st of 190 countries on this measure, in the top quarter.
The long-run direction has been consistently rising across the 49 years of available data.
Insurance and financial services in Panama, year by year
| Year | % of service exports, BoP | Change |
|---|---|---|
| 1977 | 0.0% | — |
| 1978 | 0.2% | +353.3% |
| 1979 | 0.1% | -52.5% |
| 1980 | 8.2% | +7552.9% |
| 1981 | 7.7% | -6.5% |
| 1982 | 6.1% | -20.7% |
| 1983 | 7.4% | +22.0% |
| 1984 | 4.9% | -34.3% |
| 1985 | 6.8% | +39.1% |
| 1986 | 9.4% | +38.4% |
| 1987 | 8.1% | -13.4% |
| 1988 | 4.0% | -50.3% |
| 1989 | 4.3% | +6.0% |
| 1990 | 3.1% | -27.0% |
| 1991 | 4.6% | +46.9% |
| 1992 | 4.7% | +3.1% |
| 1993 | 4.4% | -7.7% |
| 1994 | 4.3% | -1.9% |
| 1995 | 5.2% | +22.1% |
| 1996 | 5.6% | +6.9% |
| 1997 | 5.5% | -1.5% |
| 1998 | 8.5% | +53.6% |
| 1999 | 9.4% | +10.4% |
| 2000 | 8.9% | -4.6% |
| 2001 | 7.9% | -11.4% |
| 2002 | 13.0% | +64.9% |
| 2003 | 12.6% | -3.4% |
| 2004 | 9.7% | -22.6% |
| 2005 | 7.1% | -27.3% |
| 2006 | 7.9% | +11.8% |
| 2007 | 14.6% | +83.8% |
| 2008 | 15.2% | +4.6% |
| 2009 | 13.7% | -10.1% |
| 2010 | 14.4% | +5.4% |
| 2011 | 14.4% | +0.1% |
| 2012 | 12.4% | -13.9% |
| 2013 | 11.2% | -9.8% |
| 2014 | 9.7% | -13.5% |
| 2015 | 12.4% | +27.7% |
| 2016 | 12.2% | -1.6% |
| 2017 | 11.1% | -8.8% |
| 2018 | 8.4% | -24.9% |
| 2019 | 7.9% | -5.1% |
| 2020 | 11.2% | +40.9% |
| 2021 | 8.1% | -27.9% |
| 2022 | 8.6% | +6.2% |
| 2023 | 10.7% | +24.7% |
| 2024 | 10.4% | -2.1% |
| 2025 | 9.8% | -6.0% |
Panama compared with similar countries
- Panama's 9.8% is above the median for high income countries, which is 5.3%, 1.9× the median. (69 countries reporting)
- Panama's 9.8% is above the median for Latin America & Caribbean, which is 2.7%, 3.6× the median. (35 countries reporting)
Biggest year-on-year movements
Years where Insurance and financial services in Panama changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1980 | +7552.9% | 0.1% | 8.2% |
| 1978 | +353.3% | 0.0% | 0.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 0.1% | 0.0% | 0.2% | 3 |
| 1980s | 6.7% | 4.0% | 9.4% | 10 |
| 1990s | 5.5% | 3.1% | 9.4% | 10 |
| 2000s | 11.1% | 7.1% | 15.2% | 10 |
| 2010s | 11.4% | 7.9% | 14.4% | 10 |
| 2020s | 9.8% | 8.1% | 11.2% | 6 |
Countries ranked near Panama
- 28 Guyana 10.4% compare
- 29 Kenya 10.3% compare
- 30 Tajikistan 10.2% compare
- 32 South Sudan 9.8% compare
- 33 Canada 9.7% compare
- 34 South Africa 9.7% compare
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 insurance and financial services in Panama?
- Insurance and financial services in Panama was 9.8% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Panama?
- The highest recorded value was 15.2% in 2008.
- What is the lowest insurance and financial services recorded in Panama?
- The lowest recorded value was 0.0% in 1977.
- How does Panama rank for insurance and financial services?
- Panama ranks 31st out of 190 countries with data for 2025.
- Is insurance and financial services rising or falling in Panama?
- Over the last ten years it is down 20.7%. The long-run trend across the full record is rising.
- Where does this Panama data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service exports, BoP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 49 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service exports which are services provided by residents to non-residents.