Workers' remittances paid reached 839 USD mil in 2017 in Panama, according to the National Statistical Office. This is 0.060 % less than in the previous year.
Historically, workers' remittances paid in Panama reached an all time high of 839 USD mil in 2016 and an all time low of 16.1 USD mil in 1991. When compared to Panama's main peers, workers' remittances paid in Colombia amounted to 292 USD mil, 442 USD mil in Costa Rica, 65.1 USD mil in Honduras and 1.60 USD mil in Nicaragua in 2017.
Panama has been ranked 50th within the group of 142 countries we follow in terms of workers' remittances paid, 9 places above the position seen 10 years ago.
Workers' remittances and compensation of employees comprise current transfers by migrant workers and wages and salaries earned by non-resident workers.