Military spending in Panama
Panama: Military spending was 1.04 billion constant 2022 US$ in 2023. ◆ Volatile
Military spending in Panama, 1903–2023
Source: Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data. Measured in constant 2022 US$.
Analysis
The most recent figure for military spending in Panama is 1.04 billion constant 2022 US$, measured in 2023. That is the highest value across all 121 years on record.
The figure is up 2.7% on the previous year and up 48.7% over ten years.
Over the whole period, military spending in Panama peaked at 1.04 billion constant 2022 US$ in 2023 and was at its lowest, 447,880 constant 2022 US$, in 1924.
Panama ranks 87th of 172 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1900s | 4.74 million constant 2022 US$ | 3.60 million constant 2022 US$ | 6.04 million constant 2022 US$ | 7 |
| 1910s | 1.98 million constant 2022 US$ | 799,233 constant 2022 US$ | 3.20 million constant 2022 US$ | 10 |
| 1920s | 531,075 constant 2022 US$ | 447,880 constant 2022 US$ | 597,740 constant 2022 US$ | 10 |
| 1930s | 693,978 constant 2022 US$ | 584,891 constant 2022 US$ | 775,677 constant 2022 US$ | 10 |
| 1940s | 28.71 million constant 2022 US$ | 767,397 constant 2022 US$ | 44.35 million constant 2022 US$ | 10 |
| 1950s | 12.70 million constant 2022 US$ | 7.17 million constant 2022 US$ | 18.97 million constant 2022 US$ | 10 |
| 1960s | 10.71 million constant 2022 US$ | 6.33 million constant 2022 US$ | 21.52 million constant 2022 US$ | 10 |
| 1970s | 50.51 million constant 2022 US$ | 26.65 million constant 2022 US$ | 65.07 million constant 2022 US$ | 10 |
| 1980s | 153.28 million constant 2022 US$ | 66.63 million constant 2022 US$ | 196.38 million constant 2022 US$ | 10 |
| 1990s | 170.24 million constant 2022 US$ | 144.36 million constant 2022 US$ | 187.23 million constant 2022 US$ | 10 |
| 2000s | 226.28 million constant 2022 US$ | 178.99 million constant 2022 US$ | 332.08 million constant 2022 US$ | 10 |
| 2010s | 757.80 million constant 2022 US$ | 395.07 million constant 2022 US$ | 1.00 billion constant 2022 US$ | 10 |
| 2020s | 1.02 billion constant 2022 US$ | 1.01 billion constant 2022 US$ | 1.04 billion constant 2022 US$ | 4 |
Countries ranked near Panama
- 84 Uganda 1.15 billion constant 2022 US$ compare
- 85 Ethiopia 1.14 billion constant 2022 US$ compare
- 86 Latvia 1.10 billion constant 2022 US$ compare
- 88 Tanzania 1.03 billion constant 2022 US$ compare
- 89 Dominican Republic 984.06 million constant 2022 US$ compare
- 90 Slovenia 974.21 million constant 2022 US$ compare
More reference data data for Panama
- Spring temperature anomalies 0.1111 °C (2026)
- Summer temperature anomalies 0.8502 °C (2026)
- Temperature anomalies by month 0.029 °C (2026)
- Universal right to vote in practice 2 (2025)
- Autumn temperature anomalies 0.2956 °C (2025)
- Winter temperature anomalies 0.1292 °C (2025)
- Consumer price index 128.14 2010 = 100 (2025)
- Universal right to vote 2 (2025)
- Competitive elections 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is military spending in Panama?
- Military spending in Panama was 1.04 billion constant 2022 US$ in 2023, according to Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data.
- What is the highest military spending recorded in Panama?
- The highest recorded value was 1.04 billion constant 2022 US$ in 2023.
- What is the lowest military spending recorded in Panama?
- The lowest recorded value was 447,880 constant 2022 US$ in 1924.
- How does Panama rank for military spending?
- Panama ranks 87th out of 172 countries with data for 2023.
- Is military spending rising or falling in Panama?
- Over the last ten years it is up 48.7%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from Barnum et al. - Global Military Spending Dataset (2025) – with minor processing by Our World in Data, published as part of Military spending. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 121 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
This data is expressed in US dollars. It is adjusted for inflation but does not account for differences in the cost of living between countries.