Annual GDP growth in Panama
Panama: Annual GDP growth was 2.7% in 2024. ◆ Volatile
Latest (2024)
2.7%
Change on year
down 61.7%
World rank
113th
of 196 countries
All-time high
16.5%
in 2021
All-time low
-17.8%
in 2020
Years of data
25
2000–2024
Annual GDP growth in Panama, 2000–2024
Source: United Nations Statistics Division, SDG Global Database.
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 113th of 196 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 | Value | 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% |
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
- 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)
- Net primary income (Net income from abroad) (current LCU), annual 5.4 % change on previous year (2025)
- Taxes less subsidies on products (current US$), annual growth rate 4.12 % change on previous year (2025)
- Taxes less subsidies on products (current US$), per unit of GDP 0.0246 current US$ per US$ of GDP (2025)
- Taxes less subsidies on products (current US$), per capita 487.09 current US$ per person (2025)
- Taxes less subsidies on products (current LCU), annual growth rate 4.12 % change on previous year (2025)
- Taxes less subsidies on products (current LCU), per unit of GDP 0.0246 current LCU per US$ of GDP (2025)
- Taxes less subsidies on products (current LCU), per capita 487.09 current LCU per person (2025)
- Special drawing rights per domestic currency (End-of-period (EoP)) 0.7302 (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 113th out of 196 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.
Download this data
CSV · JSON — 25 observations, free to reuse under UN SDG Global Database (open, attribution requested).