Insurance and financial services (% of commercial service imports) in Panama
Panama: Insurance and financial services (% of commercial service imports) was 17.8% in 2025. ▲ Rising
Insurance and financial services in Panama, 1977–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service imports.
Analysis
The most recent figure for insurance and financial services in Panama is 17.8%, measured in 2025.
Compared with earlier readings it is down 2.1% on the previous year and up 5.2% over ten years.
Over the whole period, insurance and financial services in Panama peaked at 21.4% in 2002 and was at its lowest, 5.6%, in 1992.
That places Panama 13th out of 197 countries with data for 2025, putting it in the top 10%.
The long-run direction has been consistently rising across the 49 years of available data.
Insurance and financial services (% of commercial service imports) in Panama, year by year
| Year | % of commercial service imports | Change |
|---|---|---|
| 1977 | 6.6% | — |
| 1978 | 8.9% | +35.2% |
| 1979 | 7.9% | -11.4% |
| 1980 | 10.6% | +34.6% |
| 1981 | 9.5% | -10.6% |
| 1982 | 8.1% | -14.7% |
| 1983 | 10.3% | +26.8% |
| 1984 | 9.6% | -6.2% |
| 1985 | 13.4% | +39.2% |
| 1986 | 10.9% | -18.8% |
| 1987 | 13.2% | +21.0% |
| 1988 | 10.0% | -23.9% |
| 1989 | 9.0% | -10.6% |
| 1990 | 10.2% | +13.9% |
| 1991 | 8.2% | -20.0% |
| 1992 | 5.6% | -31.1% |
| 1993 | 9.5% | +68.4% |
| 1994 | 7.5% | -21.2% |
| 1995 | 8.8% | +18.1% |
| 1996 | 8.5% | -3.4% |
| 1997 | 12.6% | +48.6% |
| 1998 | 17.4% | +37.4% |
| 1999 | 12.1% | -30.5% |
| 2000 | 7.5% | -38.1% |
| 2001 | 10.7% | +42.6% |
| 2002 | 21.4% | +100.9% |
| 2003 | 19.2% | -10.5% |
| 2004 | 15.7% | -17.9% |
| 2005 | 15.0% | -4.7% |
| 2006 | 14.1% | -6.1% |
| 2007 | 17.5% | +24.4% |
| 2008 | 18.4% | +5.3% |
| 2009 | 16.1% | -12.4% |
| 2010 | 20.2% | +25.1% |
| 2011 | 19.4% | -3.7% |
| 2012 | 18.1% | -6.7% |
| 2013 | 17.0% | -6.4% |
| 2014 | 13.6% | -19.7% |
| 2015 | 16.9% | +24.0% |
| 2016 | 16.6% | -1.9% |
| 2017 | 16.2% | -2.3% |
| 2018 | 6.8% | -58.3% |
| 2019 | 6.4% | -4.8% |
| 2020 | 10.8% | +68.0% |
| 2021 | 11.4% | +5.1% |
| 2022 | 12.5% | +9.7% |
| 2023 | 17.2% | +37.8% |
| 2024 | 18.2% | +5.8% |
| 2025 | 17.8% | -2.1% |
Panama compared with similar countries
- Panama's 17.8% is above the median for high income countries, which is 6.4%, 2.8× the median. (72 countries reporting)
- Panama's 17.8% is above the median for Latin America & Caribbean, which is 10.0%, 1.8× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.8% | 6.6% | 8.9% | 3 |
| 1980s | 10.5% | 8.1% | 13.4% | 10 |
| 1990s | 10.0% | 5.6% | 17.4% | 10 |
| 2000s | 15.6% | 7.5% | 21.4% | 10 |
| 2010s | 15.1% | 6.4% | 20.2% | 10 |
| 2020s | 14.6% | 10.8% | 18.2% | 6 |
Countries ranked near Panama
- 10 Tajikistan 19.5% compare
- 11 Saint Kitts and Nevis 18.5% compare
- 12 Trinidad and Tobago 18.4% compare
- 14 Cyprus 17.1% compare
- 15 Burkina Faso 16.8% compare
- 16 Nicaragua 16.3% compare
More private sector data for Panama
- Merchandise trade 41.6% (2025)
- Food imports 19.0% (2025)
- Manufactures imports 60.7% (2025)
- Merchandise imports 25.76 billion current US$ (2025)
- Commercial service imports 5.82 billion current US$ (2025)
- Food exports 49.6% (2025)
- Manufactures exports 12.6% (2025)
- Merchandise exports 11.90 billion current US$ (2025)
- Commercial service exports 20.06 billion current US$ (2025)
- Merchandise exports (current US$), per capita 2,604 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Panama?
- Insurance and financial services in Panama was 17.8% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Panama?
- The highest recorded value was 21.4% in 2002.
- What is the lowest insurance and financial services recorded in Panama?
- The lowest recorded value was 5.6% in 1992.
- How does Panama rank for insurance and financial services?
- Panama ranks 13th out of 197 countries with data for 2025.
- Is insurance and financial services rising or falling in Panama?
- Over the last ten years it is up 5.2%. The long-run trend across the full record is rising.
- Where does this Panama data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service imports). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 49 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service imports which are commercial services provided by non-residents to residents.