Panama's gross domestic product shrank 23.6 percent year-on-year in the third quarter of 2020, as the coronavirus pandemic and restrictive measures to curb it continued to hit activity and demand. Hotels and restaurants posted the sharpest rate of contraction (-75.4 percent vs -79.7 percent), followed by construction (-70.5 percent vs -89.3 percent in Q2), real estate activities (-40.5 percent vs -48.8 percent) and manufacturing (-29.5 percent vs -45.3 percent). source: Instituto Nacional de Estadística y Censo - Panamá
GDP Annual Growth Rate in Panama averaged 4.76 percent from 2010 until 2020, reaching an all time high of 12.20 percent in the second quarter of 2011 and a record low of -38.20 percent in the second quarter of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.
GDP Annual Growth Rate in Panama is expected to be -6.50 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 16.80 in 12 months time. In the long-term, the Panama GDP Annual Growth Rate is projected to trend around 5.00 percent in 2021 and 3.70 percent in 2022, according to our econometric models.