Panama’s GDP reached $21.22 billion, with GDP per capita registering at $6,346. Panama is a service-oriented economy, with services representing approximately 78.4% of its GDP and 62.7% of employment in 2007. Also, the balance of trade in services in 2007 was $3.0 billion in Panama’s favour. Top service exports from Panama in that year included transport and storage, tourism, financial, communication, and other business services.
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TWO-WAY MERCHANDISE TRADE BETWEEN CANADA AND PANAMA IN
2014 AMOUNTED TO $106.5 MILLION. CANADIAN MERCHANDISE EXPORTS TO
PANAMA IN 2014 TOTALED NEARLY $95.5 MILLION, AND INCLUDED MACHINERY, PAPER AND PAPERBOARD, MEAT, PHARMACEUTICALS, AND VEGETABLES. IMPORTS FROM PANAMA IN 2014 WERE VALUED AT $11.1 MILLION.
Canada and Panama have established strong commercial relations that continue to expand.