Annual GDP growth in Panama
Panama: Annual GDP growth was 7.4% in 2023. ◆ Volatile
Latest (2023)
7.4%
Change on year
down 31.3%
World rank
17th
of 211 countries
All-time high
16.5%
in 2021
All-time low
-17.8%
in 2020
Years of data
24
2000–2023
Annual GDP growth in Panama, 2000–2023
Source: World Bank – processed by Our World in Data. Measured in %.
Analysis
The most recent figure for annual gdp growth in Panama is 7.4%, measured in 2023.
The figure is down 31.3% on the previous year and up 17.1% 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 17th of 211 countries on this measure, in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
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 | 4.2% | -17.8% | 16.5% | 4 |
Countries ranked near Panama
More economy & growth data for Panama
- External balance on goods and services as a percent of GDP 5.0% (2024)
- Inflation of consumer prices -0.2% (2025)
- GDP per capita 17,650 constant 2015 US$ (2025)
- Share of manufacturing in gross domestic product (GDP) 4.8% (2025)
- Gross domestic product (GDP) 80.68 billion constant 2015 US$ (2025)
- GDP per capita in international and market dollars 17,650 constant 2015 US$ (2025)
- DEC alternative conversion factor 1 LCU per US$ (2025)
- Net secondary income (Net current transfers from abroad) -218.83 million current LCU (2024)
- Net secondary income (Net current transfers from abroad) -218.83 million current US$ (2024)
- Taxes less subsidies on products 2.23 billion current LCU (2025)
Frequently asked questions
- What is annual gdp growth in Panama?
- Annual gdp growth in Panama was 7.4% in 2023, 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 17th out of 211 countries with data for 2023.
- Is annual gdp growth rising or falling in Panama?
- Over the last ten years it is up 17.1%. 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 — 24 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Annual GDP growth (%)