National Debt (% of GDP): Panama
Panama's national debt (% of gdp) is currently 60.3% as of 2026. # Panama National Debt (% of GDP) Panama's national debt stood at 60.
Current (2026)
60.3%
+1.2% y/y
Peak (1994)
78.3%
Low (2016)
33.6%
Source
IMF World Economic Outlook
1994–2026 · 37 pts
National Debt (% of GDP) — Panama
1994 — 2026
National Debt (% of GDP) — Panama
Analysis# Panama National Debt (% of GDP)
Panama's national debt stood at 60.3% of GDP in 2026, representing a substantial recovery from its 2016 low of 33.6% but remaining well below the 1994 peak of 78.3%. Over the three-decade period from 1994 to 2026, the country reduced its debt burden by 23 percentage points, reflecting long-term fiscal improvements despite recent volatility.
The sharpest shift occurred between 2019 and 2020, when debt surged from 39.8% to 61.5%—a jump of 21.7 percentage points attributed to pandemic-related spending. Recovery followed through 2023, with debt declining to 51.2%, but the trend reversed in 2024 and 2025 as debt climbed back toward 60%. The 2026 projection of 60.3% suggests stabilization at elevated levels rather than continued improvement.
Historical Data
37 Rows| Year | Value | Change % |
|---|---|---|
| 2030 | 58.1% | -2.19% |
| 2029 | 59.4% | -1.33% |
| 2028 | 60.2% | -0.50% |
| 2027 | 60.5% | +0.33% |
| 2026 | 60.3% | +1.17% |
| 2025 | 59.6% | +3.83% |
| 2024 | 57.4% | +12.11% |
| 2023 | 51.2% | -2.85% |
| 2022 | 52.7% | -3.12% |
| 2021 | 54.4% | -11.54% |
| 2020 | 61.5% | +54.52% |
| 2019 | 39.8% | +11.80% |
| 2018 | 35.6% | +5.95% |
| 2017 | 33.6% | +0.00% |
| 2016 | 33.6% | -1.75% |
| 2015 | 34.2% | -1.44% |
| 2014 | 34.7% | +2.97% |
| 2013 | 33.7% | -0.88% |
| 2012 | 34.0% | -4.49% |
| 2011 | 35.6% | -6.56% |
Show all 37 rows
| Year | Value | Change % |
|---|---|---|
| 2010 | 38.1% | -2.56% |
| 2009 | 39.1% | -2.25% |
| 2008 | 40.0% | -15.61% |
| 2007 | 47.4% | -13.35% |
| 2006 | 54.7% | -7.76% |
| 2005 | 59.3% | +0.85% |
| 2004 | 58.8% | +4.07% |
| 2003 | 56.5% | -0.88% |
| 2002 | 57.0% | -1.38% |
| 2001 | 57.8% | +7.84% |
| 2000 | 53.6% | -2.72% |
| 1999 | 55.1% | -5.16% |
| 1998 | 58.1% | -3.49% |
| 1997 | 60.2% | -7.38% |
| 1996 | 65.0% | -15.14% |
| 1995 | 76.6% | -2.17% |
| 1994 | 78.3% | — |
Related Data
Other Metrics
For Panama
Compare National Debt
Same metric, other countries
Demographics
People & population data