The economy of Panama grew at a solid annual rate of 13.6 percent in the first quarter of 2022, albeit easing from a 16.3 percent growth in the previous period. It was the fourth consecutive quarter of expansion, helped by the easing of Covid-19 restrictions. Strong performance was observed in key economic activities including hotels & restaurants (63.6 percent); internal trade (22.4 percent); construction (21.7 percent); real estate (12.6 percent) and transport, storage & communications (11.9 percent). source: Instituto Nacional de Estadística y Censo - Panamá

GDP Annual Growth Rate in Panama averaged 5.73 percent from 2010 until 2022, 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 July 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
2022-03-09 08:00 PM Q4 16.3% 25.5% 8%
2022-06-16 06:00 PM Q1 13.6% 16.3% 7%
2022-09-16 09:00 PM Q2 13.6%


Related Last Previous Unit Reference
GDP Annual Growth Rate 13.60 16.30 percent Mar 2022
GDP From Utilities 437.55 459.08 PAB Million Mar 2022
GDP From Transport 1557.76 1673.98 PAB Million Mar 2022
GDP From Mining 816.58 787.89 PAB Million Mar 2022
GDP From Manufacturing 531.63 542.69 PAB Million Mar 2022
GDP From Construction 1294.05 1171.79 PAB Million Mar 2022
GDP From Agriculture 197.01 240.53 PAB Million Mar 2022
GDP Constant Prices 11097.20 11590.22 PAB Million Mar 2022

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
13.60 16.30 40.00 -38.20 2010 - 2022 percent Quarterly

News Stream
Panama GDP Growth Slows but Remains Strong
The economy of Panama grew at a solid annual rate of 13.6 percent in the first quarter of 2022, albeit easing from a 16.3 percent growth in the previous period. It was the fourth consecutive quarter of expansion, helped by the easing of Covid-19 restrictions. Strong performance was observed in key economic activities including hotels & restaurants (63.6 percent); internal trade (22.4 percent); construction (21.7 percent); real estate (12.6 percent) and transport, storage & communications (11.9 percent).
2022-06-16
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