Annual GDP growth (%) in Panama
Panama: Annual GDP growth (%) was 2.7% in 2024. ◆ Volatile
Annual GDP growth in Panama, 2000–2024
Source: United Nations Statistics Division, SDG Global Database. Measured in %.
Analysis
The most recent figure for annual gdp growth in Panama is 2.7%, measured in 2024.
Compared with earlier readings it is down 61.7% on the previous year and down 40.6% over ten years.
Over the whole period, annual gdp growth in Panama peaked at 16.5% in 2021 and was at its lowest, -17.8%, in 2020.
Panama ranks 133rd of 230 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
Annual GDP growth (%) in Panama, year by year
| Year | % | Change |
|---|---|---|
| 2000 | 4.2% | — |
| 2001 | 0.9% | -77.4% |
| 2002 | 2.5% | +164.1% |
| 2003 | 5.1% | +103.2% |
| 2004 | 8.2% | +60.4% |
| 2005 | 8.3% | +1.2% |
| 2006 | 9.9% | +19.1% |
| 2007 | 13.2% | +33.4% |
| 2008 | 10.2% | -22.5% |
| 2009 | 1.6% | -84.2% |
| 2010 | 6.1% | +276.8% |
| 2011 | 11.9% | +96.1% |
| 2012 | 9.6% | -19.2% |
| 2013 | 6.3% | -34.3% |
| 2014 | 4.6% | -26.9% |
| 2015 | 5.3% | +13.9% |
| 2016 | 4.6% | -13.2% |
| 2017 | 5.7% | +25.6% |
| 2018 | 3.9% | -31.8% |
| 2019 | 3.1% | -20.8% |
| 2020 | -17.8% | -674.3% |
| 2021 | 16.5% | -192.4% |
| 2022 | 11.0% | -33.0% |
| 2023 | 7.2% | -35.1% |
| 2024 | 2.7% | -61.7% |
Panama compared with similar countries
- Panama's 2.7% is above the median for high income countries, which is 2.1%, 1.3× the median. (80 countries reporting)
- Panama's 2.7% is below the median for Latin America & Caribbean, which is 3.3%, 83% of the median. (39 countries reporting)
Biggest year-on-year movements
Years where Annual GDP growth (%) in Panama changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2020 | -674.3% | 3.1% | -17.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 6.4% | 0.9% | 13.2% | 10 |
| 2010s | 6.1% | 3.1% | 11.9% | 10 |
| 2020s | 3.9% | -17.8% | 16.5% | 5 |
Countries ranked near Panama
More economy & growth data for Panama
- Real gdp growth, annual growth rate 58.3 % change on previous year (2025)
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 2.82 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 4 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 3.53 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0058 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 114.24 units per person (2025)
- SDRs holdings, SDR, annual growth rate -1.41 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0042 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 83.42 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -18.73 % change on previous year (2025)
Frequently asked questions
- What is annual gdp growth in Panama?
- Annual gdp growth in Panama was 2.7% in 2024, according to United Nations Statistics Division, SDG Global Database.
- What is the highest annual gdp growth recorded in Panama?
- The highest recorded value was 16.5% in 2021.
- What is the lowest annual gdp growth recorded in Panama?
- The lowest recorded value was -17.8% in 2020.
- How does Panama rank for annual gdp growth?
- Panama ranks 133rd out of 230 countries with data for 2024.
- Is annual gdp growth rising or falling in Panama?
- Over the last ten years it is down 40.6%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from United Nations Statistics Division, SDG Global Database, published as part of Annual GDP growth (%). Statizoid updates them automatically from the source API.
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