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%. source: Instituto Nacional de Estadística y Censo - Panamá
GDP Annual Growth Rate in Panama averaged 4.90 percent from 2010 until 2021, reaching an all time high of 40.40 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 December of 2021.
GDP Annual Growth Rate in Panama is expected to be 11.00 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 6.00 percent in 2022 and 4.70 percent in 2023, according to our econometric models.