Travel services in Panama
Panama: Travel services was 21.4% in 2025. ▲ Rising
Travel services in Panama, 1977–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
The most recent figure for travel services in Panama is 21.4%, measured in 2025.
That represents a change of down 0.8% on the previous year and down 2.0% over ten years.
Over the whole period, travel services in Panama peaked at 27.9% in 2019 and was at its lowest, 9.4%, in 2012.
That places Panama 86th out of 198 countries with data for 2025, putting it in the middle of the range.
The long-run direction has been consistently rising across the 49 years of available data.
Travel services in Panama, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1977 | 17.0% | — |
| 1978 | 15.6% | -8.2% |
| 1979 | 16.8% | +8.0% |
| 1980 | 9.5% | -43.7% |
| 1981 | 9.7% | +2.8% |
| 1982 | 12.7% | +30.6% |
| 1983 | 12.8% | +0.8% |
| 1984 | 11.2% | -12.4% |
| 1985 | 11.0% | -1.7% |
| 1986 | 10.4% | -5.8% |
| 1987 | 12.7% | +22.0% |
| 1988 | 17.0% | +34.1% |
| 1989 | 15.0% | -12.0% |
| 1990 | 14.3% | -4.6% |
| 1991 | 12.8% | -10.2% |
| 1992 | 13.1% | +1.9% |
| 1993 | 12.5% | -4.1% |
| 1994 | 11.5% | -8.1% |
| 1995 | 11.1% | -3.8% |
| 1996 | 13.6% | +22.3% |
| 1997 | 12.7% | -6.0% |
| 1998 | 14.3% | +12.1% |
| 1999 | 16.5% | +15.3% |
| 2000 | 16.3% | -0.7% |
| 2001 | 15.6% | -4.7% |
| 2002 | 13.6% | -12.7% |
| 2003 | 15.9% | +16.9% |
| 2004 | 16.4% | +2.9% |
| 2005 | 15.0% | -8.6% |
| 2006 | 15.7% | +5.0% |
| 2007 | 13.9% | -11.5% |
| 2008 | 13.4% | -3.3% |
| 2009 | 15.1% | +12.4% |
| 2010 | 14.1% | -6.8% |
| 2011 | 11.6% | -17.2% |
| 2012 | 9.4% | -19.2% |
| 2013 | 16.8% | +78.1% |
| 2014 | 19.1% | +13.7% |
| 2015 | 21.9% | +14.7% |
| 2016 | 23.9% | +9.4% |
| 2017 | 19.7% | -17.6% |
| 2018 | 22.7% | +15.4% |
| 2019 | 27.9% | +22.6% |
| 2020 | 14.7% | -47.4% |
| 2021 | 16.7% | +14.0% |
| 2022 | 17.7% | +5.9% |
| 2023 | 20.4% | +14.9% |
| 2024 | 21.6% | +6.0% |
| 2025 | 21.4% | -0.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 16.5% | 15.6% | 17.0% | 3 |
| 1980s | 12.2% | 9.5% | 17.0% | 10 |
| 1990s | 13.2% | 11.1% | 16.5% | 10 |
| 2000s | 15.1% | 13.4% | 16.4% | 10 |
| 2010s | 18.7% | 9.4% | 27.9% | 10 |
| 2020s | 18.8% | 14.7% | 21.6% | 6 |
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)
- Total reserves minus gold (current US$), annual growth rate -8.97 % change on previous year (2025)
- Total reserves minus gold (current US$), per unit of GDP 0.069 current US$ per US$ of GDP (2025)
- Total reserves minus gold (current US$), per capita 1,365 current US$ per person (2025)
- General government final consumption expenditure (current US$) 4.41 % change on previous year (2024)
- General government final consumption expenditure (current US$), per 0.124 current US$ per US$ of GDP (2024)
- General government final consumption expenditure (current US$), per 2,377 current US$ per person (2024)
- General government final consumption expenditure (current LCU) 4.41 % change on previous year (2024)
- General government final consumption expenditure (current LCU), per 0.124 current LCU per US$ of GDP (2024)
Frequently asked questions
- What is travel services in Panama?
- Travel services in Panama was 21.4% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest travel services recorded in Panama?
- The highest recorded value was 27.9% in 2019.
- What is the lowest travel services recorded in Panama?
- The lowest recorded value was 9.4% in 2012.
- How does Panama rank for travel services?
- Panama ranks 86th out of 198 countries with data for 2025.
- Is travel services rising or falling in Panama?
- Over the last ten years it is down 2.0%. 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 Travel services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Travel services cover goods and services for own use or to give away acquired from an economy by nonresidents during visits to that economy, or acquired from other economies by residents during visits to these other economies. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.