Maintaining the positive momentum; challenges remain on the fiscal front
BB2
MEDIUM RISK for enterprise
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
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Economic risk
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Business environment risk
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Political risk
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Commercial risk
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Financing risk
Updated in January 2023.
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GDP | USD75.5bn (World ranking 74, World Bank 2022) |
Population | 4.4mn (World ranking 127, World Bank 2022) |
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 2021)
Exports | Rank | Imports |
---|---|---|
China
19.0%
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1 |
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Japan
11.2%
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2 |
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United States
7.5%
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3 |
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Ecuador
6.8%
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4 |
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Korea, Republic of
6.7%
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5 |
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Trade structure by product
(% of total, annual 2021)
Exports | Rank | Imports |
---|---|---|
Metalliferous ores and metal scrap
49.2%
|
1 |
27.9%
Petroleum, petroleum products and related materials
|
Petroleum, petroleum products and related materials
8.6%
|
2 |
10.3%
Other transport equipment
|
Other transport equipment
6.5%
|
3 |
6.3%
Medicinal and pharmaceutical products
|
Vegetables and fruits
4.1%
|
4 |
4.1%
Road vehicles
|
Medicinal and pharmaceutical products
3.5%
|
5 |
3.8%
Articles of apparel & clothing accessories
|
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