Panama’s economy advanced 2.7 percent year-on-year in the third quarter of 2019, easing from a 2.9 percent expansion in the prior period. It was the weakest growth rate since at least 2010, amid a slowdown in trade (1.2 percent from 2 percent in Q2); financial intermediation (1.9 percent from 3.9 percent) and education (1.7 percent from 4.8 percent). Additionally, output shrank in construction (-2.6 percent from 2.9 percent); real estate (-2.8 percent from 3.3 percent) and restaurants & hotels (-3.6 percent from 1.4 percent). Also, manufacturing activity contracted further (-1.9 percent from -1 percent). In contrast, output went up at a faster pace in transport & communications (9.1 percent from 5.2 percent); utilities (5.7 percent from 2.1 percent); social services & private health (4.1 percent from 3.1 percent); mining (83 percent from 6.6 percent) and agriculture (10.1 percent 8.4 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. 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. source: Instituto Nacional de Estadística y Censo - Panamá

GDP Annual Growth Rate in Panama is expected to be 4.50 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 4.70 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.

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Panama GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.70 2.90 12.20 2.70 2010 - 2019 percent Quarterly

Calendar GMT Actual Previous Consensus TEForecast
2019-03-04 06:10 PM Q4 4% 3.6% 4.2%
2019-06-18 02:00 PM Q1 3.1% 4% 4.2%
2019-09-17 03:00 PM Q2 2.9% 3.1% 2.9%
2019-12-17 06:00 PM Q3 2.7% 2.9% 2.8%
2020-03-03 06:10 PM Q4 2.7% 3.5%


News Stream
2019-09-17
Panama Q2 GDP Growth Slows to 2.9%
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).

2019-06-18
Panama Q1 GDP Growth Slows to 3.1%
Panama’s economy advanced 3.1 percent year-on-year in the first quarter of 2019, easing from a 4 percent expansion in the previous period. Output growth slowed in financial services (4.7 percent from 5.6 percent in Q4 2018); social services & private health (2.7 percent from 9.4 percent); education (0.9 percent from 6.1 percent); construction (4.5 percent from 6.5 percent); mining (4.5 percent from 6.5 percent); and transport & communications (4.3 percent from 5.7 percent). Also, manufacturing activity continued to contract (-0.9 percent, the same as in Q4) and fishing shrank further (-39.9 percent from -27.4 percent). Meanwhile, output went up at a faster pace in agriculture (2.4 percent from 0.4 percent); trade (1.9 percent from 1.8 percent); real estate (2.8 percent from 1.9 percent); and utilities (5.6 percent from 2.3 percent).

2019-03-04
Panama Economy Expands 4% YoY in Q4
Panama’s economy advanced 4.0 percent year-on-year in the fourth quarter of 2018, following a 3.6 percent expansion in the previous period. Faster growth was mainly driven by financial services (5.6 percent from 3.6 percent in Q3); education (6.1 percent from 4.6 percent); social services & private health (9.4 percent from 5.9 percent); construction (6.5 percent from 2.0 percent); utilities (2.3 percent from 1.2 percent) and mining (6.5 percent from 2.0 percent). On the other hand, output growth slowed in trade (1.8 percent from 5.7 percent); transport & communications (5.7 percent from 9.6 percent); and agriculture (0.4 percent from 2.2 percent). Also, manufacturing production shrank (-0.9 percent from 1.5 percent) and fishing contracted further (-27.4 percent from -11.7 percent). Considering full 2018, the economy grew 3.7 percent easing from a 5.3 percent expansion in 2017.


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.

Panama GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 2.70 2.90 12.20 2.70 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 10730.51 10497.51 10750.95 7760.06 PAB Million [+]
GDP From Agriculture 260.59 209.62 260.59 172.04 PAB Million [+]
GDP From Construction 1564.73 1484.04 1747.84 1022.52 PAB Million [+]
GDP From Manufacturing 504.85 552.97 558.81 463.22 PAB Million [+]
GDP From Mining 327.35 172.98 327.35 123.56 PAB Million [+]
GDP From Transport 1548.60 1485.03 1548.60 1142.33 PAB Million [+]
GDP From Utilities 456.77 429.76 456.77 260.45 PAB Million [+]