Panama’s economy advanced 2.9 percent year-on-year in the second quarter of 2019, easing from a 3.1 percent expansion in the previous period. It was the weakest growth rate since at least 2010, amid a slowdown in construction (2.9 percent from 4.5 percent in Q1); financial services (3.9 percent from 4.7 percent); restaurants & hotels (1.4 percent from 2 percent); and utilities (2.1 percent from 5.6 percent). Additionally, manufacturing activity shrank further (-1 percent from -0.9 percent). On the other hand, output rose at a faster pace in transport & communications (5.2 percent from 4.3 percent); trade (2 percent from 1.9 percent); social services & private health (3.1 percent from 2.7 percent); education (4.5 percent from 0.9 percent); mining (4.7 percent from 4.5 percent); agriculture (8.4 percent from 2.4 percent); and real estate (3.3 percent from 2.8 percent). Also, fishing activities contracted less (-32.5 percent from -39.9 percent). GDP Annual Growth Rate in Panama averaged 6.82 percent from 2010 until 2019, reaching an all time high of 12.20 percent in the second quarter of 2011 and a record low of 2.90 percent in the second quarter of 2019.

GDP Annual Growth Rate in Panama is expected to be 4.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Panama to stand at 5.00 in 12 months time. In the long-term, the Panama GDP Annual Growth Rate is projected to trend around 5.20 percent in 2020, according to our econometric models.

Panama GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-20 11:00 PM GDP Growth Rate YoY Q3 3.6% 3.1% 3.6%
2019-03-04 06:10 PM GDP Growth Rate YoY Q4 4% 3.6% 4.2%
2019-06-18 02:00 PM GDP Growth Rate YoY Q1 3.1% 4% 4.2%
2019-09-17 03:00 PM GDP Growth Rate YoY Q2 2.9% 3.1% 2.9%
2019-12-18 06:00 PM GDP Growth Rate YoY Q3 2.9% 4.1%


Panama GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 2.90 3.10 12.20 2.90 percent [+]
GDP 65.06 62.28 65.06 0.54 USD Billion [+]
GDP per capita 11723.93 11501.16 11723.93 2139.41 USD [+]
GDP per capita PPP 22674.40 22243.50 22674.40 7855.20 USD [+]
GDP Constant Prices 10497.51 10598.84 10750.95 7760.06 PAB Million [+]
GDP From Agriculture 209.62 182.66 231.89 172.04 PAB Million [+]
GDP From Construction 1484.04 1747.84 1747.84 1022.52 PAB Million [+]
GDP From Manufacturing 552.97 542.59 558.81 463.22 PAB Million [+]
GDP From Mining 172.98 183.38 211.12 123.56 PAB Million [+]
GDP From Transport 1485.03 1452.03 1485.03 1142.33 PAB Million [+]
GDP From Utilities 429.76 421.88 429.76 260.45 PAB Million [+]


Panama GDP Annual Growth Rate

Panama is one of the fastest growing economies in the Americas, greatly influenced by the famous canal connecting Atlantic and Pacific Ocean and business-friendly regulations. As a result service sector with insurance, finance, legal industries and flagship registry accounts for 80 percent of GDP. This page provides the latest reported value for - Panama GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Panama GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.90 3.10 12.20 2.90 2010 - 2019 percent Quarterly




Country Last Previous
China 6.20 Jun/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
Spain 2.10 Jun/19
Netherlands 2.00 Jun/19
South Korea 2.00 Jun/19
Saudi Arabia 1.70 Mar/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
Euro Area 1.20 Jun/19
United Kingdom 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Jun/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19
Argentina -5.80 Mar/19


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