Panama's net secondary income (net current transfers from abroad) (current US$) was −US$218.83 million in 2024, the latest year in the World Bank's World Development Indicators. That is down 279.08% from US$122.2 million in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$218.83 million | 2024 |
| Five years earlier | −US$245.93 million | 2019 |
| Ten years earlier | US$122.2 million | 2014 |
| Highest | US$635.9 million | 2007 |
| Lowest | −US$248.35 million | 2018 |
| Average since 2015 | −US$130.42 million | 2015–2024 |
| First recorded | −US$785,800 |
What the numbers say
In 2024, Panama's net secondary income (net current transfers from abroad) (current US$) fell US$14.64 million on 2023 (from −US$204.19 million to −US$218.83 million).
Across the 30 yearly changes before that (1994 to 2023), the average change was −US$11.16 million and a typical year strayed about US$137.56 million from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was US$355.8 million in 2007 and the biggest yearly fall was US$406 million in 2009. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains less than 1% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Panama had the 33rd highest value of the 54 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Closest to Panama in the 2024 ranking
- Aruba — 30th of 54: −US$79.9 million
- Sint Maarten (Dutch part) — 31st of 54: −US$97.99 million
- Turks and Caicos Islands — 32nd of 54: −US$108.5 million
- Bermuda — 34th of 54: −US$229 million
- Iceland — 35th of 54: −US$383.05 million
- Slovak Republic — 36th of 54: −US$387.92 million
What this measures
Net secondary income (from abroad) comprises transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net secondary income is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
All 65 values
| Year | Net secondary income (net current transfers from abroad) (current US$) |
|---|---|
| 2024 | -218,829,816 |
| 2023 | -204,192,063 |
| 2022 | -96,345,352 |
| 2021 | 146,245,721 |
| 2020 | -87,343,813 |
| 2019 | -245,928,487 |
| 2018 | -248,347,733 |
| 2017 | -124,300,000 |
| 2016 | -119,200,000 |
| 2015 | -106,000,000 |
Net secondary income (net current transfers from abroad) (current US$) in nearby economies
- Antigua and Barbuda — −US$105.78 million (2025)
- Argentina — US$2.19 billion (2025)
- Aruba — −US$79.9 million (2024)
- Bahamas, The — −US$29.9 million (2024)
- Barbados — US$90.5 million (2025)
- Belize — US$149.91 million (2025)
- Bolivia — US$1.19 billion (2025)
- Brazil — US$5.22 billion (2025)
- Cayman Islands
More economic policy & debt data for Panama
- Total reserves, including gold (current US$) — US$6.24 billion (2025)
- Total reserves, excluding gold (current US$) — US$6.24 billion (2025)
- Gross Value Added (GVA) at basic prices (current US$) — US$88.24 billion (2025)
- Gross Value Added (GVA) at basic prices (current LCU) — 88.24 billion (2025)
- GDP (current US$) — US$90.46 billion (2025)
- GDP (current LCU) — 90.46 billion (2025)
- GDP (constant 2015 US$) — US$80.68 billion (2025)
- GDP (constant LCU) — 84.75 billion (2025)
- GDP per capita (current US$) — US$19,790 (2025)
- GDP per capita (current LCU) — 19,790 (2025)
Reading data like this
Questions people ask
- What is Panama's net secondary income (net current transfers from abroad) (current US$)?
- −US$218.83 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1960?
- It is down 27,748% from −US$785,800 in 1960. The highest value was US$635.9 million in 2007 and the lowest −US$248.35 million in 2018.
- How does Panama rank?
- 33rd highest of 54 economies with data for 2024.
- Is the latest change in net secondary income (net current transfers from abroad) (current US$) unusual for Panama?
- In 2024, Panama's net secondary income (net current transfers from abroad) (current US$) fell US$14.64 million on 2023 (from −US$204.19 million to −US$218.83 million). Across the 30 yearly changes before that (1994 to 2023), the average change was −US$11.16 million and a typical year strayed about US$137.56 million from that (the standard deviation). This year's change was 0.0 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NY.TRF.NCTR.CD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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