Panama: GDP growth (annual %)
In , Panama's GDP growth (annual %) was 2.75.
That's down 61.7% from 2023, the highest value since .
The global average for this indicator in 2024 was 3.07 . Panama ranks #116 globally out of 193 reporting countries. Within Latin America & Caribbean, it ranks #23 of 38.
Source: World Bank Open Data (NY.GDP.MKTP.KD.ZG) • Data as of 2024
Trend (2005–2024)
- 2008 · Global financial crisis
- 2020 · COVID-19 pandemic
- 2014 · Oil price collapse
- 2022 · Russia–Ukraine war begins
Highlights
- Peak
- 16.47
- Trough
- -17.82
- 1-year change
- -61.7%
- 5-year change
- -11.4%
- -2.4% / yr
- 10-year change
- -40.6%
- -5.1% / yr
Historical Data — Last 10 Years
| Year | GDP growth (annual %) |
|---|---|
| 2.7479 | |
| 7.1663 | |
| 11.0385 | |
| 16.4671 | |
| -17.8212 | |
| 3.1031 | |
| 3.9182 | |
| 5.7441 | |
| 4.5720 | |
| 5.2669 |
About GDP growth (annual %)
Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Indicator code: NY.GDP.MKTP.KD.ZG • Category: Economy
Frequently asked questions
- What was Panama's GDP growth (annual %) in 2024?
- In 2024, Panama's GDP growth (annual %) was 2.75, according to World Bank Open Data.
- Is Panama's GDP growth (annual %) rising or falling?
- Panama's GDP growth (annual %) fell 61.7% from 2023 to 2024.
- How does Panama rank globally on GDP growth (annual %)?
- In 2024, Panama ranked #116 out of 193 countries reporting GDP growth (annual %).
- How does Panama's GDP growth (annual %) compare to the world average?
- The global average for GDP growth (annual %) in 2024 was 3.07, so Panama is below the world average. Within Latin America & Caribbean, it ranks #23 of 38.
- What is GDP growth (annual %) and how is it measured?
- Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Source: World Bank Open Data (NY.GDP.MKTP.KD.ZG), CC BY 4.0.