Country Snapshot - Panama  

HighlightsRankingsQuantitative DataLegislationAnalytical WorkProject Portfolio
  • Latin America & Caribbean
  • Upper middle income
  • 3,802,281 (2013)
  • 9,910
Panama Flag
Below are select highlights for the data included in the profile.

  1. Panama is ranked 55st out of 189 economies in Doing Business 2014. Its aggregate score recorded a six-point increase this year, reflecting improvements in almost all the sub-indicators. In 2014, Panama implemented positive reforms that made it easier to start a business, register property, protect investors, and pay taxes.
  2. According to the latest Enterprise Surveys data (2010), corruption, practices of the informal sector, and inadequately educated workforce represent the top three business environment constraints experienced by private sector firms in Panama.
  3. According to the Heritage Foundation, Panama has been generally well integrated into the global marketplace as an international business and banking hub, but its overall progress has been uneven. Anti-corruption laws seem to have little impact, and the judicial system remains vulnerable to political interference. Panama’s economic freedom score is currently 63.4, making its economy the 71st freest in the 2014 Index. Its score is 0.9 point better than last year, reflecting improvements in investment freedom, freedom from corruption, and the control of government spending that outweigh small declines in fiscal freedom and three other freedoms. Panama is ranked 13th out of 29 countries in the South and Central America/Caribbean region, and its overall score is above the world average. *