Panama's terms of trade adjustment (constant LCU) was 1.59 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 569.26% from -339.6 million in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 1.59 billion | 2024 |
| Five years earlier | 110.89 million | 2019 |
| Ten years earlier | -339.6 million | 2014 |
| Highest | 1.59 billion | 2024 |
| Lowest | -1.32 billion | 2008 |
| Average since 2015 | 463.3 million | 2015–2024 |
| First recorded | -714.27 million |
What the numbers say
In 2024, Panama's terms of trade adjustment (constant LCU) rose 501.13 million on 2023 (from 1.09 billion to 1.59 billion).
Across the 27 yearly changes before that (1997 to 2023), the average change was +66.92 million and a typical year strayed about 528.89 million from that (the standard deviation). This year's change was 0.8 standard deviations above 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 1.45 billion in 2023 and the biggest yearly fall was 746.79 million in 2007. 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 3% 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 7th highest value of the 29 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
- United States — 3rd of 29: 192.74 billion
- Bolivia — 4th of 29: 2.48 billion
- Ghana — 5th of 29: 1.67 billion
- Solomon Islands — 7th of 29: 940.41 million
- Bahrain — 8th of 29: 538.68 million
- Zimbabwe — 9th of 29: 402.35 million
What this measures
The terms of trade adjustment is equal to the capacity to import (current price value of exports of goods and services deflated by the import price index) less exports of goods and services in constant prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 29 values
| Year | Terms of trade adjustment (constant LCU) |
|---|---|
| 2024 | 1,593,617,122 |
| 2023 | 1,092,489,717 |
| 2022 | -356,239,592 |
| 2021 | -32,098,500 |
| 2020 | 155,972,800 |
| 2019 | 110,893,390 |
| 2018 | 0 |
| 2017 | 485,479,714 |
| 2016 | 866,714,964 |
| 2015 | 716,166,461 |
| 2014 |
Terms of trade adjustment (constant LCU) in nearby economies
- Argentina — 59.64 billion (2025)
- Bahamas, The — -297.96 million (2024)
- Belize — 57.92 million (2024)
- Bolivia — 2.48 billion (2024)
- Brazil — -50.96 billion (2025)
- Chile — 15.42 trillion (2025)
- Colombia — 43.29 trillion (2025)
- Costa Rica — 1.37 trillion (2025)
- Cuba — -3.15 billion (2024)
- Dominican Republic — 73.4 billion (2025)
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 terms of trade adjustment (constant LCU)?
- 1.59 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1996?
- It is up 323.11% from -714.27 million in 1996. The highest value was 1.59 billion in 2024 and the lowest -1.32 billion in 2008.
- How does Panama rank?
- 7th highest of 29 economies with data for 2024.
- Is the latest change in terms of trade adjustment (constant LCU) unusual for Panama?
- In 2024, Panama's terms of trade adjustment (constant LCU) rose 501.13 million on 2023 (from 1.09 billion to 1.59 billion). Across the 27 yearly changes before that (1997 to 2023), the average change was +66.92 million and a typical year strayed about 528.89 million from that (the standard deviation). This year's change was 0.8 standard deviations above 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.TTF.GNFS.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); 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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