Switzerland and Panama
Switzerland and Panama connect financial services, trade and legal cooperation. The Panamanian canal adds another international policy issue.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08History and institutional framework
The agreements cover free trade, investment, judicial assistance, aviation, tax information and visas.
Cooperation and bilateral issues
The decision is distinct from administering the canal or a military base.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | ||
| Goods: Switzerland to Panama | ||
| Goods: Panama to Switzerland | ||
| Services trade | ||
| Export share: Switzerland to Panama | ||
| Export share: Panama to Switzerland | ||
| Investment stock: Switzerland in Panama | ||
| Investment stock: Panama in Switzerland |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Switzerland | Panama |
|---|---|---|
| Nominal GDP | 1.04 trillion USD2025 · WB | 90.46 billion USD2025 · WB |
| GDP per capita | 114,769.01 USD2025 · WB | 19,789.73 USD2025 · WB |
| GDP growth | 1.3 %2025 · WB | 4.35 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 0.15 %Annual average · 2025 · WB | -0.19 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | ||
| Unemployment | 4.87 %ILO est.2025 · WB | 8.36 %ILO est.2025 · WB |
| Budget balance (% of GDP) | 0.5 %IMF est.2025 · IMF | -3.7 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 39.4 %IMF est.2025 · IMF | 56.6 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | 6.98 %2025 · WB | -0.19 %2025 · WB |
| Population | 9,092,436World Bank est.2025 · WB | 4,571,1892025 · WB |
| Area | 41,291 km²2023 · WB | 75,320 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDSwitzerland: 2025 · World Bank · Official World Bank series. Observation year, not download date.Panama: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP per capita
- Current USD per personSwitzerland: 2025 · World Bank · Official World Bank series. Observation year, not download date.Panama: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- GDP growth
- Annual real change (%)Switzerland: 2025 · World Bank · Official World Bank series. Observation year, not download date.Panama: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Switzerland: 2025 · Annual average CPI change (%) · World Bank · Official World Bank series. Observation year, not download date.Panama: 2025 · Annual average CPI change (%) · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionSwitzerland: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.Panama: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Annual World Bank observation, with its original year; not monthly data.
- Budget balance
- General government (% of GDP)Switzerland: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Panama: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Switzerland: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Panama: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPSwitzerland: 2025 · World Bank · Official World Bank series. Observation year, not download date.Panama: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Population
- PeopleSwitzerland: 2025 · World Bank · WB est. · The World Bank indicates a population extrapolation; this is not a 2025 census count.Panama: 2025 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Area
- Total area in km²; territorial coverage of the sourceSwitzerland: 2023 · World Bank · Official World Bank series. Observation year, not download date.Panama: 2023 · World Bank · Annual World Bank observation, with its original year; not monthly data.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Switzerland to Panama
| Product or sector | Value / share |
|---|---|
Panama to Switzerland
| Product or sector | Value / share |
|---|---|
Connections between people
The agreements cover free trade, investment, judicial assistance, aviation, tax information and visas. Financial information mechanisms likewise do not, on their own, determine an asset volume or bilateral investment. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Switzerland living in PanamaSwiss citizens resident in the partner country; definition from the FDFA profile. | 1,023 | 2025-12 · FDFA |
| Residents from Panama living in Switzerland | ||
| Study and training: Switzerland in Panama | ||
| Study and training: Panama in Switzerland | ||
| Academic stays: Switzerland in Panama | ||
| Academic stays: Panama in Switzerland | ||
| Travel: Switzerland to Panama | ||
| Travel: Panama to Switzerland |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
- Residents from Switzerland living in Panama
- Resident stock by nationality, not people born in the other country or arrivals during the year. The access date does not update the reference period. 2025-12 · FDFA
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
The agreements cover free trade, investment, judicial assistance, aviation, tax information and visas. On 13 May 2026, the Federal Council decided to accede to the protocol to the treaty on the Panama Canal's neutrality and operation. [1]
The scale of both economies
Nominal GDP for Switzerland is 1,043.5 billion USD (2025), compared with 90.5 for Panama (2025). The reference populations are 9.09 and 4.57 million, respectively. In the same year, the economy of Switzerland was 11.54 times that of Panama in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [2] [3] [4] [5]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
The decision is distinct from administering the canal or a military base. Financial information mechanisms likewise do not, on their own, determine an asset volume or bilateral investment. [1]
Documented mobility and communities
Residents from Switzerland in Panama: 1,023 (2025-12). Swiss citizens resident in the partner country; definition from the FDFA profile. Resident stock by nationality, not people born in the other country or arrivals during the year. The access date does not update the reference period. [1]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — CHE-PAN
Swiss Federal Department of Foreign Affairs (FDFA) · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — gdp
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- Official series — population
World Bank · Institutional source · Accessed: 2026-10-07