Panama...

A country of opportunities

4.4 million

Population (est. 2022*)

10.8%

GDP Growth 2022

Constant

$17,409

GDP per capita 2021

Current

2,049,616

Workforce Apr 2022

2.9%

Inflation 2022

9.9%

Total Unemployment Apr 2022

$3.7 billion

Exports 2021

$2 billion

Foreign Direct Investment Jan-Sep 2022

$49.3%

FDI Growth Jan-Sep 2021-2022

Source: Economics and Cnesus Institute of Panama, with additional information from the *WorldPopulation Prospects Report, UN

Panama’s economy is one of the most stable in America. The main economic activities are financial, tourism and logistics, which represent 75% of the GDP (Gross Domestic Product).

The GDP has enjoyed sustained growth for more than twenty years in a row (1989). The country is classified in the category of investment grade by these credit rating companies: Standard and Poor’s, Moody’s and Fitch Ratings.

Taxes in Panama

According to Act 8 of March 15, 2010, which amended the Fiscal Code, the air, sea and land transportation companies, as well as passengers, shall pay ITBMS tax. In Panama, 7% of ITBMS (normally called Value added tax in other countries) is charged on public entertainment, events, seminars, conferences, lectures and artistic, professional and sport presentations in general that are not free and whose annual incomes are over $36,000.

The importation and sale of alcoholic beverages, as well as hotel or lodging services, jewelry and weapons will pay 10 % of ITBMS. Tobacco derivatives (such as cigarettes, cigars, and snuff) will pay 15% of ITBMS. Cable TV, microwave, satellite and mobile phones will pay 5% of ITMBS.

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Welcome

The Panama Canal

On behalf of our country, we are pleased to Welcome you to the Website of The Consulate of Panama, in Kobe Japan.

It is an honor to serve as Consul General of this office which has its consular jurisdiction over the Fukui, Kinki, Chugoku, Shikoku and Kyushu regions.

We are located in the second metropolitan region of Japan and in one of the largest shipping centers of the world. Furthermore, we supervise and work together as a team with the office of the Panama Maritime Authority located in the city of Imabari, which is a sister city of Panama city.

Our office essentially provides Maritime and Consular Services along with the promotion of the Panamanian culture and the enhancement of the trade and academic relationships between Panama and the people, companies and institutions of western Japan.

This site aims to provide general information about our country, the Panama Merchant Marine along with other consular and cultural services that our office provides within western Japan, giving you a better understanding of the role and functions of our Office.