The economy of Panama grew 16.3 percent year-on-year in the fourth quarter of 2021, easing from a 25.5 percent expansion in the previous year, as low base effects due to the pandemic continue to fade. Main increases were seen for mining (59.4 percent), hotels and restaurants (44.7 percent), construction (39.7 percent), and transportation (12.5 percent). On the other hand, financial intermediation services shrunk by 0.9 percent. Considering the full 2021, the Panamanian economy expanded 15.3 percent, partially rebounding from the 17.9 percent contraction in 2020 brought by the pandemic. source: Instituto Nacional de Estadística y Censo - Panamá
GDP Annual Growth Rate in Panama averaged 5.56 percent from 2010 until 2021, reaching an all time high of 40 percent in the second quarter of 2021 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 May of 2022.
GDP Annual Growth Rate in Panama is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Panama GDP Annual Growth Rate is projected to trend around 5.00 percent in 2023 and 4.70 percent in 2024, according to our econometric models.