Below are select highlights for the data included in the profile.
- Panama is ranked 61st out of 185 economies in Doing Business 2013, recording an increase of 1 point compared to last year.
- According to the latest Enterprise Surveys (2010), the top 3 obstacles to running a business in Panama include Corruption, Practices of the Informal Sector, and an Inadequately Educated Workforce. With regard to Corruption, 30.5% of Panamanian firms report having to give gifts to "get things done", more than the regional average of 10.9%.
- In the World Bank’s Worldwide Governance Indicators (2010), Panama is between the 40th and 60th percentiles for nearly all of the indicators.
- Panama’s economic freedom score is 65.2, making its economy the 55th freest in the 2012 Index. Its score is 0.3 point better than last year due to improvements in freedom from corruption, monetary freedom, and fiscal freedom. Panama is ranked 11th out of 29 countries in the South and Central America/Caribbean region, and its overall score is above the world and regional averages.*
* Source: The Heritage Foundation Index of Economic Freedom, http://www.heritage.org/index/