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.

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Panama GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2021-12-17 08:10 PM Q3 25.5% 40.0% 28%
2022-03-09 08:00 PM Q4 16.3% 25.5% 8%
2022-08-31 09:00 PM Q1 16.3% 7%


Related Last Previous Unit Reference
GDP Annual Growth Rate 16.30 25.50 percent Dec 2021
GDP From Utilities 459.08 462.06 PAB Million Dec 2021
GDP From Transport 1673.98 1462.37 PAB Million Dec 2021
GDP From Mining 787.90 812.43 PAB Million Dec 2021
GDP From Manufacturing 542.69 418.63 PAB Million Dec 2021
GDP From Construction 1171.79 907.04 PAB Million Dec 2021
GDP From Agriculture 240.53 284.89 PAB Million Dec 2021
GDP Constant Prices 11590.20 10337.66 PAB Million Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
16.30 25.50 40.00 -38.20 2010 - 2021 percent Quarterly

News Stream
Panama GDP Growth Eases in Q4
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.
2022-03-09
Panama GDP Growth Rate Eases From Record High
The economy of Panama grew 25.5 percent year-on-year in the third quarter of 2021, easing from a record-high 40 percent growth in the previous period, as the low base effects due to the coronavirus pandemic started to fade. Main increases were seen for mining (131.2 percent), construction (101.5 percent), hotels & restaurants (96.9 percent), retail sales (32.3 percent), manufacturing (12.5 percent), and utilities (11.2 percent). Meanwhile, fishing plunged 26.1 percent and financial intermediation fell 1.6 percent.
2021-12-17
Panama GDP Growth Rate at Record 40.4%
The economy of Panama grew 40.4% year-on-year in the second quarter of 2021, the biggest gain ever, after a record slump a year earlier due to the coronavirus crisis. Government support and the vaccination progress allowed health authorities to reduce or eliminate the restrictions. Main increases were seen for transport and communications (29.8%); trade (23.9%); real estate (15.3%); rice (5.2% ) and corn (7.7%); cattle (16.2%), pigs (24.1%) and poultry (19.4%). On the other hand, financial services decreased 5.3%.
2021-09-17