Foreign trade as a share of GDP fell 12.8% to 74.1% in Panama in 2020, according to the National Statistical Office.
Historically, foreign trade as a share of GDP in Panama reached an all time high of 167% in 2008 and an all time low of 74.1% in 2020. When compared to Panama's main peers, foreign trade as a share of GDP in Colombia amounted to 33.9%, 60.1% in Costa Rica, 85.6% in Honduras and 89.4% in Nicaragua in 2020.
Panama has been ranked 74th within the group of 163 countries we follow in terms of foreign trade as a share of GDP, 62 places below the position seen 10 years ago.
| Foreign Trade (As % of GDP) | Unit | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Belize | % | 103% | 95.7% | 96.9% | 99.7% | 101% | ||||||||||||||||
| Brazil | % | 27.0% | 24.5% | 24.3% | 28.9% | 28.9% | ||||||||||||||||
| Colombia | % | 38.4% | 36.2% | 35.3% | 36.5% | 37.6% | ||||||||||||||||
| Costa Rica | % | 60.8% | 62.2% | 65.1% | 66.9% | 65.8% | ||||||||||||||||
| El Salvador | % | 76.6% | 72.8% | 74.3% | 75.6% | 76.0% | ||||||||||||||||
| Guatemala | % | 49.9% | 46.4% | 46.1% | 47.0% | 45.5% | ||||||||||||||||
| Honduras | % | 107% | 99.8% | 102% | 104% | 98.0% | ||||||||||||||||
| Mexico | % | 71.1% | 76.1% | 77.1% | 80.6% | 77.9% | ||||||||||||||||
| Nicaragua | % | 98.2% | 93.8% | 96.4% | 94.0% | 94.7% | ||||||||||||||||
| Panama | % | 99.9% | 87.4% | 87.4% | 90.0% | 85.0% | ||||||||||||||||
| Peru | % | 45.2% | 45.4% | 47.5% | 48.6% | 46.9% | ||||||||||||||||
| USA | % | 27.8% | 26.6% | 27.3% | 27.6% | 26.5% | ||||||||||||||||
| Venezuela | % | ... | ... | ... | ... | ... | ... | ... |
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