The top countries in well-being rankings

Panama ranks highest in a global index of well-being according to the latest survey. This is the second year in a row that Panama has taken the first spot in the Gallup-Healthways Global Well-Being Index, which covers 145 countries, territories and areas.

Other countries who made the top 10 include Costa Rica, Puerto Rico, Switzerland, Belize, Chile, Denmark, Guatemala, Austria and Mexico. The U.S. ranks 23rd, dropping from 12th position in the prior year.

The survey entailed over 146,000 interviews with individuals over the age of 15, and five elements were assessed: purpose, social, financial, community and physical.

See the top 10:

Instead of simply asking how much the respondents earned or whether they were happy or not, the responses were more nuanced. For example, "You have enough money to do everything you want to do," "Your friends and family give you positive energy every day," and "In the last seven days, you have felt active and productive every day."

A Gallup news release notes: "Residents of many Latin American countries are among the most likely in the world to report daily positive experiences such as smiling and laughing, feeling enjoyment, and feeling treated with respect each day."

Countries that rank the lowest are Tunisia, Togo, Cameroon, Bhutan and Afghanistan.