Annual GDP growth in Panama
Panama: Annual GDP growth was 2.8% in 2024. ◆ Volatile
Annual GDP growth in Panama, 2000–2024
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
The most recent figure for annual gdp growth in Panama is 2.8%, measured in 2024.
The figure is down 61.6% 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 123rd of 212 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% | +164.2% |
| 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% | -22.4% |
| 2009 | 1.6% | -84.2% |
| 2010 | 6.1% | +277.0% |
| 2011 | 11.9% | +96.2% |
| 2012 | 9.6% | -19.1% |
| 2013 | 6.3% | -34.4% |
| 2014 | 4.6% | -26.7% |
| 2015 | 5.3% | +13.8% |
| 2016 | 4.6% | -13.3% |
| 2017 | 5.7% | +25.6% |
| 2018 | 3.9% | -31.7% |
| 2019 | 3.1% | -20.9% |
| 2020 | -17.8% | -674.8% |
| 2021 | 16.5% | -192.4% |
| 2022 | 11.0% | -33.0% |
| 2023 | 7.2% | -35.1% |
| 2024 | 2.8% | -61.6% |
Panama compared with similar countries
- Panama's 2.8% is above the median for high income countries, which is 2.1%, 1.3× the median. (83 countries reporting)
- Panama's 2.8% is below the median for Latin America & Caribbean, which is 3.3%, 83% of the median. (41 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 | -674.8% | 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
- 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)
- Foreign direct investment, net outflows (BoP, current US$), gaps -870.79 million BoP, current US$ (2025)
- Foreign direct investment, net outflows (BoP, current US$), per unit -0.0096 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net outflows (BoP, current US$), per capita -190.5 BoP, current US$ per person (2025)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 938.47 million BoP, current US$ (2025)
- Foreign direct investment, net inflows (BoP, current US$), annual -55.01 % change on previous year (2025)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0104 BoP, current US$ per US$ of GDP (2025)
- Foreign direct investment, net inflows (BoP, current US$), per capita 205.3 BoP, current US$ per person (2025)
- Total reserves (includes gold, current US$), annual growth rate -8.97 % change on previous year (2025)
Frequently asked questions
- What is annual gdp growth in Panama?
- Annual gdp growth in Panama was 2.8% in 2024, according to World Bank – processed by Our World in Data.
- 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 123rd out of 212 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 World Bank – processed by Our World in Data, 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 CC BY 4.0 (Our World in Data).
About this data
Annual GDP growth (%).