In 2025, the national debt of Panama stands at approximately 53.27 billion U.S. dollars.Fluctuating rise between 1994 and 2025A total increase by approximately 46.50 billion U.S. dollars can be observed between 1994 and 2025. The data emphasizes however that this increase did not happen continuously.Continuous rise between 2025 and 2030The national debt will lie at roughly 66.46 billion U.S. dollars in 2030, according to forecasts. This indicates an overall increase by approximately 13.19 billion U.S. dollars since 2025. This growth reflects a steady upward trend.

Key information about Panama National Government Debt

• Panama National Government Debt reached 53.7 USD bn in Jan 2025, compared with 53.7 USD bn in the previous month.
• Panama National Government Debt data is updated monthly, available from Jul 2004 to Jan 2025.
• The data reached an all-time high of 53.9 USD bn in Nov 2024 and a record low of 9.1 USD bn in Jul 2004.

The Ministry of Economy and Finance provides monthly Government Debt in USD.


Related information about Panama National Government Debt

• In the latest reports, Panama Consolidated Fiscal Balance recorded a deficit equal to 3.0 % of its Nominal GDP in Dec 2023.
• The country's Government debt accounted for 61.6 % of its Nominal GDP in Sep 2024.
• Panama Nominal GDP reached 18.1 USD bn in Sep 2022.

Panama recorded a Government Debt to GDP of 56.60 percent of the country's Gross Domestic Product in 2024. This dataset provides - Panama Government Debt To GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Panama Government Debt: % of GDP

• Panama Government debt accounted for 61.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 61.2 % in the previous quarter.
• Panama government debt to GDP ratio data is updated quarterly, available from Dec 2007 to Sep 2024.
• The data reached an all-time high of 70.2 % in Mar 2021 and a record low of 34.4 % in Dec 2013.

CEIC calculates quarterly Government Debt as % of Nominal GDP from monthly Government Debt and rolling sum of quarterly Nominal GDP. The Ministry of Economy and Finance provides Government Debt in USD. The National Institute of Statistics and Census provides Nominal GDP in local currency based on SNA 2008. The International Monetary Fund average market exchange rate is used for currency conversions. Nominal GDP prior to Q4 2018 is based on SNA 1993.


Related information about Panama Government Debt: % of GDP

• In the latest reports, Panama National Government Debt reached 53.8 USD bn in Oct 2024.
• The country's Nominal GDP reached 18.1 USD bn in Sep 2022.

Graph and download economic data for General Government Gross Debt for Panama (PANGGXWDGGDP) from 1994 to 2030 about Panama, gross, debt, and government.

The ratio of national debt to gross domestic product (GDP) of Panama lies at approximately 58.11 percent in 2025.Fluctuating decline between 1994 and 2025Between 1994 and 2025 a total decrease by approximately 20.26 percentage points can be observed. This decrease however did not happen continuously.Fluctuating decline between 2025 and 2030The ratio will stand at around 53.97 percent in 2030, according to forecasts. There is an overall decrease by approximately 4.14 percentage points since 2025.The general government gross debt consists of all liabilities that require payment or payments of interest and/or principal by the debtor to the creditor at a date or dates in the future. Here it is depicted in relation to the country's GDP, which refers to the total value of goods and services produced during a year.

Key information about Panama External Debt

• Panama External Debt reached 44.2 USD bn in Jan 2025, compared with 44.3 USD bn in the previous month.
• Panama External Debt: USD mn data is updated monthly, available from Jul 2004 to Jan 2025.
• The data reached an all-time high of 44.3 USD bn in Dec 2024 and a record low of 6.6 USD bn in Sep 2004.

External Debt covers Public sector only.


Related information about Panama External Debt

• In the latest reports of Panama, Current Account recorded a surplus of 824.1 USD mn in Sep 2024.
• Foreign Direct Investment (FDI) increased by 726.8 USD mn in Sep 2024.
• Panama Direct Investment Abroad expanded by 52.0 USD mn in Sep 2024.
• Its Foreign Portfolio Investment fell by 361.6 USD mn in Sep 2024.
• The country's Nominal GDP was reported at 18.1 USD bn in Sep 2022.

Panama: Government debt as percent of GDP: The latest value from 2023 is 56.44 percent, a decline from 58.04 percent in 2022. In comparison, the world average is 61.85 percent, based on data from 137 countries. Historically, the average for Panama from 1997 to 2023 is 52.62 percent. The minimum value, 34.39 percent, was reached in 2013 while the maximum of 71.15 percent was recorded in 2001.

Key information about Panama Household Debt: % of GDP

• Panama household debt accounted for 38.3 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 38.2 % in the previous quarter.
• Panama household debt to GDP ratio is updated quarterly, available from Dec 2007 to Sep 2024.
• The data reached an all-time high of 50.8 % in Mar 2021 and a record low of 33.1 % in Mar 2013.

CEIC calculates quarterly Household Debt as % of Nominal GDP from monthly Household Debt and quarterly Nominal GDP. The Superintendency of Banks of Panama provides Household Debt in local currency. The National Institute of Statistics and Census provides Nominal GDP in local currency based on SNA 2008. Loans are used due to the lack of Flow of Funds statistics. Household Debt includes Mortgages and Consumer Loans. Nominal GDP prior to Q4 2018 is based on SNA 1993.


Related information about Panama Household Debt: % of GDP

• In the latest reports, Panama Household Debt reached 32.7 USD bn in Oct 2024.
• Money Supply M2 in Panama increased 8.7 % YoY in Jul 2024.
• Panama Foreign Exchange Reserves was measured at 5.7 USD bn in Oct 2024.
• The Foreign Exchange Reserves equaled 4.2 Months of Import in Oct 2024.
• Panama Domestic Credit reached 64.1 USD bn in Oct 2024, representing an increased of 5.8 % YoY.
• The country's Non Performing Loans Ratio stood at 1.6 % in Oct 2024, compared with the ratio of 1.6 % in the previous month.

Panama Public Debt: Domestic: Public data was reported at 113.078 USD mn in 2017. This records a decrease from the previous number of 331.630 USD mn for 2016. Panama Public Debt: Domestic: Public data is updated yearly, averaging 1.303 USD bn from Dec 1993 (Median) to 2017, with 25 observations. The data reached an all-time high of 1.723 USD bn in 1993 and a record low of 113.078 USD mn in 2017. Panama Public Debt: Domestic: Public data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s Panama – Table PA.F006: Public Debt: Annual.

Key information about Panama External Debt: % of GDP

• Panama External Debt accounted for 167.4 % of the country's Nominal GDP in 2021, compared with the ratio of 187.3 % in the previous year.
• Panama External Debt: % of Nominal GDP data is updated yearly, available from Dec 2014 to Dec 2021.
• The data reached an all-time high of 187.3 % in Dec 2020 and a record low of 146.9 % in Dec 2018.

CEIC calculates External Debt as % of Nominal GDP from quarterly External Debt and annual Nominal GDP. World Bank provides External Debt in USD. The National Institute of Statistics and Census provides Nominal GDP in local currency based on benchmark year 2018. The International Monetary Fund average market exchange rate is used for currency conversions. External Debt as % of Nominal GDP prior to 2018 is calculated from Nominal GDP based on SNA 1993.


Related information about Panama External Debt: % of GDP

• In the latest reports of Panama, Current Account recorded a surplus of 434.7 USD mn in Jun 2024.
• Foreign Direct Investment (FDI) increased by 731.9 USD mn in Jun 2024.
• Panama Direct Investment Abroad expanded by 94.7 USD mn in Jun 2024.
• Its Foreign Portfolio Investment increased by 46.3 USD mn in Jun 2024.
• The country's External Debt reached 43,391.0 in Jul 2024.
• The country's Nominal GDP was reported at 18.1 USD bn in Sep 2022.

Panama Public Debt: External: Bilateral data was reported at 194.942 USD mn in 2017. This records a decrease from the previous number of 206.169 USD mn for 2016. Panama Public Debt: External: Bilateral data is updated yearly, averaging 325.380 USD mn from Dec 1993 (Median) to 2017, with 25 observations. The data reached an all-time high of 526.900 USD mn in 1994 and a record low of 194.942 USD mn in 2017. Panama Public Debt: External: Bilateral data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s Panama – Table PA.F006: Public Debt: Annual.

Graph and download economic data for Outstanding International Private Debt Securities to GDP for Panama (DDDM05PAA156NWDB) from 1980 to 2020 about Panama, debt, securities, private, and GDP.

Panama Public Debt: External: PC: Bilateral: Government Direct Loans data was reported at 165.051 USD mn in Jun 2018. This records a decrease from the previous number of 172.595 USD mn for May 2018. Panama Public Debt: External: PC: Bilateral: Government Direct Loans data is updated monthly, averaging 174.548 USD mn from Jul 2004 (Median) to Jun 2018, with 168 observations. The data reached an all-time high of 295.084 USD mn in Jul 2012 and a record low of 72.213 USD mn in Sep 2009. Panama Public Debt: External: PC: Bilateral: Government Direct Loans data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s Panama – Table PA.F005: Public Debt.

External Debt to GDP in Panama decreased to 46.80 percent of GDP in 2023 from 54 percent of GDP in 2022. This dataset includes a chart with historical data for Panama External Debt To GDP.

Panama Public Debt: Private Creditors data was reported at 18.627 USD bn in Jun 2018. This records a decrease from the previous number of 19.218 USD bn for May 2018. Panama Public Debt: Private Creditors data is updated monthly, averaging 9.736 USD bn from Jul 2004 (Median) to Jun 2018, with 168 observations. The data reached an all-time high of 19.218 USD bn in May 2018 and a record low of 6.335 USD bn in Jul 2004. Panama Public Debt: Private Creditors data remains active status in CEIC and is reported by Ministry of Economy and Finance. The data is categorized under Global Database’s Panama – Table PA.F005: Public Debt.

Outstanding international public debt securities to GDP (%) in Panama was reported at 41.63 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Panama - Outstanding international public debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In 2020, the debt that Panama's central government owed to foreign creditors was more than four times the amount of debt held with creditors based in the country. In the period between 2013 and 2020, Panama's internal debt in relation to the country's gross domestic product (GDP) remained in a range of between seven and eight percent, while it's external debt has increased markedly since 2012.

In 2023, the public debt that Panama's central government owed to foreign creditors equaled 49.3 percent of the country's GDP, one of the largest figures of the analyzed period. The volume of external debt in relation to GDP decreased between 2001 and 2012, when the negative trend was reversed.

Outstanding international private debt securities to GDP (%) in Panama was reported at 43.31 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Panama - Outstanding international private debt securities to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.