Remittance inflows to GDP in Panama
Panama: Remittance inflows to GDP was 0.8% in 2020. ◆ Volatile
Remittance inflows to GDP in Panama, 1977–2020
Source: World Development Indicators (WDI), World Bank. Measured in %.
Analysis
Panama recorded 0.8% for remittance inflows to gdp in 2020.
Compared with earlier readings it is down 2.6% on the previous year and down 39.4% over ten years.
Over the whole period, remittance inflows to gdp in Panama peaked at 3.8% in 1977 and was at its lowest, 0.1%, in 2000.
That places Panama 130th out of 197 countries with data for 2020, putting it in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Remittance inflows to GDP in Panama, year by year
| Year | % | Change |
|---|---|---|
| 1977 | 3.8% | — |
| 1978 | 3.7% | -1.7% |
| 1979 | 3.7% | -1.6% |
| 1980 | 1.4% | -61.4% |
| 1981 | 1.2% | -16.4% |
| 1982 | 1.3% | +10.8% |
| 1983 | 1.3% | +0.8% |
| 1984 | 1.2% | -9.2% |
| 1985 | 1.5% | +26.5% |
| 1986 | 1.5% | -2.4% |
| 1987 | 1.5% | +3.5% |
| 1988 | 1.7% | +13.1% |
| 1989 | 1.7% | -0.3% |
| 1990 | 1.7% | -1.2% |
| 1991 | 1.5% | -10.4% |
| 1992 | 1.3% | -16.7% |
| 1993 | 1.2% | -2.8% |
| 1994 | 1.2% | -3.4% |
| 1995 | 1.2% | -2.2% |
| 1996 | 0.9% | -25.3% |
| 1997 | 0.6% | -31.0% |
| 1998 | 0.5% | -16.5% |
| 1999 | 0.4% | -20.8% |
| 2000 | 0.1% | -66.5% |
| 2001 | 0.6% | +338.7% |
| 2002 | 0.7% | +11.3% |
| 2003 | 0.8% | +19.8% |
| 2004 | 0.7% | -7.0% |
| 2005 | 0.8% | +9.1% |
| 2006 | 1.7% | +109.3% |
| 2007 | 1.7% | +0.7% |
| 2008 | 1.5% | -9.9% |
| 2009 | 1.2% | -17.3% |
| 2010 | 1.4% | +12.1% |
| 2011 | 1.1% | -23.8% |
| 2012 | 1.0% | -4.3% |
| 2013 | 1.0% | -0.4% |
| 2014 | 1.5% | +49.7% |
| 2015 | 1.0% | -32.4% |
| 2016 | 0.9% | -15.3% |
| 2017 | 0.9% | -1.2% |
| 2018 | 0.8% | -3.4% |
| 2019 | 0.9% | +4.7% |
| 2020 | 0.8% | -2.6% |
Panama compared with similar countries
- Panama's 0.8% is above the median for high income countries, which is 0.8%, 1.1× the median. (67 countries reporting)
- Panama's 0.8% is below the median for Latin America & Caribbean, which is 3.3%, 26% of the median. (36 countries reporting)
Biggest year-on-year movements
Years where Remittance inflows to GDP 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 |
|---|---|---|---|
| 2001 | +338.7% | 0.1% | 0.6% |
| 2006 | +109.3% | 0.8% | 1.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 3.7% | 3.7% | 3.8% | 3 |
| 1980s | 1.4% | 1.2% | 1.7% | 10 |
| 1990s | 1.0% | 0.4% | 1.7% | 10 |
| 2000s | 1.0% | 0.1% | 1.7% | 10 |
| 2010s | 1.0% | 0.8% | 1.5% | 10 |
| 2020s | 0.8% | 0.8% | 0.8% | 1 |
Countries ranked near Panama
- 127 Trinidad and Tobago 0.9% compare
- 128 Palau 0.8% compare
- 129 Costa Rica 0.8% compare
- 131 Seychelles 0.8% compare
- 132 Cameroon 0.8% compare
- 133 Turks and Caicos Islands 0.8% compare
More financial sector data for Panama
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 16.3 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 11.9 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 16.3 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is remittance inflows to gdp in Panama?
- Remittance inflows to gdp in Panama was 0.8% in 2020, according to World Development Indicators (WDI), World Bank.
- What is the highest remittance inflows to gdp recorded in Panama?
- The highest recorded value was 3.8% in 1977.
- What is the lowest remittance inflows to gdp recorded in Panama?
- The lowest recorded value was 0.1% in 2000.
- How does Panama rank for remittance inflows to gdp?
- Panama ranks 130th out of 197 countries with data for 2020.
- Is remittance inflows to gdp rising or falling in Panama?
- Over the last ten years it is down 39.4%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from World Development Indicators (WDI), World Bank, published as part of Remittance inflows to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by nonresident workers. Data are the sum of three items defined in the fifth edition of the IMF's Balance of Payments Manual: workers' remittances, compensation of employees, and migrants' transfers. Remittances are classified as current private transfers from migrant workers resident in the host country for more than a year, irrespective of their immigration status, to recipients in their country of origin. Migrants' transfers are defined as the net worth of migrants who are expected to remain in the host country for more than one year that is transferred from one country to another at the time of migration. Compensation of employees is the income of migrants who have lived in the host country for less than a year.