Gross domestic product (GDP) in Panama
Panama: Gross domestic product (GDP) was 164.68 billion international-$ in 2021 prices in 2023. ◆ Volatile
Latest (2023)
164.68 billion international-$ in 2021 prices
Change on year
up 6.5%
World rank
81st
of 184 countries
All-time high
164.68 billion international-$ in 2021 prices
in 2023
All-time low
2.10 billion international-$ in 2021 prices
in 1951
Years of data
74
1950–2023
Gross domestic product (GDP) in Panama, 1950–2023
Source: Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data. Measured in international-$ in 2021 prices.
Analysis
Panama recorded 164.68 billion international-$ in 2021 prices for gross domestic product (gdp) in 2023. That is the highest value across all 74 years on record.
That represents a change of up 6.5% on the previous year and up 74.6% over ten years.
Over the whole period, gross domestic product (gdp) in Panama peaked at 164.68 billion international-$ in 2021 prices in 2023 and was at its lowest, 2.10 billion international-$ in 2021 prices, in 1951.
Panama ranks 81st of 184 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.
Gross domestic product (GDP) in Panama, year by year
| Year | international-$ in 2021 prices | Change |
|---|---|---|
| 1950 | 2.13 billion international-$ in 2021 prices | — |
| 1951 | 2.10 billion international-$ in 2021 prices | -1.0% |
| 1952 | 2.27 billion international-$ in 2021 prices | +7.9% |
| 1953 | 2.43 billion international-$ in 2021 prices | +6.8% |
| 1954 | 2.58 billion international-$ in 2021 prices | +6.4% |
| 1955 | 2.77 billion international-$ in 2021 prices | +7.3% |
| 1956 | 2.88 billion international-$ in 2021 prices | +3.9% |
| 1957 | 3.18 billion international-$ in 2021 prices | +10.7% |
| 1958 | 3.22 billion international-$ in 2021 prices | +1.2% |
| 1959 | 3.42 billion international-$ in 2021 prices | +6.2% |
| 1960 | 3.64 billion international-$ in 2021 prices | +6.4% |
| 1961 | 4.03 billion international-$ in 2021 prices | +10.8% |
| 1962 | 4.38 billion international-$ in 2021 prices | +8.7% |
| 1963 | 4.74 billion international-$ in 2021 prices | +8.0% |
| 1964 | 4.98 billion international-$ in 2021 prices | +5.1% |
| 1965 | 5.43 billion international-$ in 2021 prices | +9.1% |
| 1966 | 5.84 billion international-$ in 2021 prices | +7.6% |
| 1967 | 6.39 billion international-$ in 2021 prices | +9.4% |
| 1968 | 6.85 billion international-$ in 2021 prices | +7.2% |
| 1969 | 7.48 billion international-$ in 2021 prices | +9.1% |
| 1970 | 8.91 billion international-$ in 2021 prices | +19.3% |
| 1971 | 9.90 billion international-$ in 2021 prices | +11.1% |
| 1972 | 10.51 billion international-$ in 2021 prices | +6.1% |
| 1973 | 11.04 billion international-$ in 2021 prices | +5.1% |
| 1974 | 11.69 billion international-$ in 2021 prices | +5.9% |
| 1975 | 11.90 billion international-$ in 2021 prices | +1.8% |
| 1976 | 11.99 billion international-$ in 2021 prices | +0.8% |
| 1977 | 11.95 billion international-$ in 2021 prices | -0.3% |
| 1978 | 12.88 billion international-$ in 2021 prices | +7.8% |
| 1979 | 13.41 billion international-$ in 2021 prices | +4.1% |
| 1980 | 14.80 billion international-$ in 2021 prices | +10.4% |
| 1981 | 15.96 billion international-$ in 2021 prices | +7.8% |
| 1982 | 15.92 billion international-$ in 2021 prices | -0.2% |
| 1983 | 17.02 billion international-$ in 2021 prices | +6.9% |
| 1984 | 16.91 billion international-$ in 2021 prices | -0.6% |
| 1985 | 16.43 billion international-$ in 2021 prices | -2.8% |
| 1986 | 18.18 billion international-$ in 2021 prices | +10.6% |
| 1987 | 19.58 billion international-$ in 2021 prices | +7.7% |
| 1988 | 17.51 billion international-$ in 2021 prices | -10.6% |
| 1989 | 17.62 billion international-$ in 2021 prices | +0.6% |
| 1990 | 19.02 billion international-$ in 2021 prices | +8.0% |
| 1991 | 21.19 billion international-$ in 2021 prices | +11.4% |
| 1992 | 22.72 billion international-$ in 2021 prices | +7.2% |
| 1993 | 23.66 billion international-$ in 2021 prices | +4.1% |
| 1994 | 24.29 billion international-$ in 2021 prices | +2.6% |
| 1995 | 24.11 billion international-$ in 2021 prices | -0.7% |
| 1996 | 25.58 billion international-$ in 2021 prices | +6.1% |
| 1997 | 28.30 billion international-$ in 2021 prices | +10.6% |
| 1998 | 30.71 billion international-$ in 2021 prices | +8.5% |
| 1999 | 31.73 billion international-$ in 2021 prices | +3.3% |
| 2000 | 33.54 billion international-$ in 2021 prices | +5.7% |
| 2001 | 34.18 billion international-$ in 2021 prices | +1.9% |
| 2002 | 36.01 billion international-$ in 2021 prices | +5.4% |
| 2003 | 40.31 billion international-$ in 2021 prices | +11.9% |
| 2004 | 41.10 billion international-$ in 2021 prices | +1.9% |
| 2005 | 50.80 billion international-$ in 2021 prices | +23.6% |
| 2006 | 55.56 billion international-$ in 2021 prices | +9.4% |
| 2007 | 52.13 billion international-$ in 2021 prices | -6.2% |
| 2008 | 58.05 billion international-$ in 2021 prices | +11.4% |
| 2009 | 60.35 billion international-$ in 2021 prices | +4.0% |
| 2010 | 66.52 billion international-$ in 2021 prices | +10.2% |
| 2011 | 76.63 billion international-$ in 2021 prices | +15.2% |
| 2012 | 87.80 billion international-$ in 2021 prices | +14.6% |
| 2013 | 94.30 billion international-$ in 2021 prices | +7.4% |
| 2014 | 105.62 billion international-$ in 2021 prices | +12.0% |
| 2015 | 112.94 billion international-$ in 2021 prices | +6.9% |
| 2016 | 125.12 billion international-$ in 2021 prices | +10.8% |
| 2017 | 142.96 billion international-$ in 2021 prices | +14.3% |
| 2018 | 142.03 billion international-$ in 2021 prices | -0.6% |
| 2019 | 147.56 billion international-$ in 2021 prices | +3.9% |
| 2020 | 120.30 billion international-$ in 2021 prices | -18.5% |
| 2021 | 136.27 billion international-$ in 2021 prices | +13.3% |
| 2022 | 154.62 billion international-$ in 2021 prices | +13.5% |
| 2023 | 164.68 billion international-$ in 2021 prices | +6.5% |
Panama compared with similar countries
- Panama's 164.68 billion international-$ in 2021 prices is below the median for high income countries, which is 277.84 billion international-$ in 2021 prices, 59% of the median. (66 countries reporting)
- Panama's 164.68 billion international-$ in 2021 prices is above the median for Latin America & Caribbean, which is 42.33 billion international-$ in 2021 prices, 3.9× the median. (37 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 2.70 billion international-$ in 2021 prices | 2.10 billion international-$ in 2021 prices | 3.42 billion international-$ in 2021 prices | 10 |
| 1960s | 5.38 billion international-$ in 2021 prices | 3.64 billion international-$ in 2021 prices | 7.48 billion international-$ in 2021 prices | 10 |
| 1970s | 11.42 billion international-$ in 2021 prices | 8.91 billion international-$ in 2021 prices | 13.41 billion international-$ in 2021 prices | 10 |
| 1980s | 16.99 billion international-$ in 2021 prices | 14.80 billion international-$ in 2021 prices | 19.58 billion international-$ in 2021 prices | 10 |
| 1990s | 25.13 billion international-$ in 2021 prices | 19.02 billion international-$ in 2021 prices | 31.73 billion international-$ in 2021 prices | 10 |
| 2000s | 46.20 billion international-$ in 2021 prices | 33.54 billion international-$ in 2021 prices | 60.35 billion international-$ in 2021 prices | 10 |
| 2010s | 110.15 billion international-$ in 2021 prices | 66.52 billion international-$ in 2021 prices | 147.56 billion international-$ in 2021 prices | 10 |
| 2020s | 143.97 billion international-$ in 2021 prices | 120.30 billion international-$ in 2021 prices | 164.68 billion international-$ in 2021 prices | 4 |
Countries ranked near Panama
- 78 Turkmenistan 180.45 billion international-$ in 2021 prices compare
- 79 Slovakia 176.68 billion international-$ in 2021 prices compare
- 80 Syria 168.13 billion international-$ in 2021 prices compare
- 82 Nepal 150.85 billion international-$ in 2021 prices compare
- 83 Serbia 148.60 billion international-$ in 2021 prices compare
- 84 Tunisia 147.77 billion international-$ in 2021 prices compare
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$), annual growth rate -8.97 % change on previous year (2025)
Frequently asked questions
- What is gross domestic product (gdp) in Panama?
- Gross domestic product (gdp) in Panama was 164.68 billion international-$ in 2021 prices in 2023, according to Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data.
- What is the highest gross domestic product (gdp) recorded in Panama?
- The highest recorded value was 164.68 billion international-$ in 2021 prices in 2023.
- What is the lowest gross domestic product (gdp) recorded in Panama?
- The lowest recorded value was 2.10 billion international-$ in 2021 prices in 1951.
- How does Panama rank for gross domestic product (gdp)?
- Panama ranks 81st out of 184 countries with data for 2023.
- Is gross domestic product (gdp) rising or falling in Panama?
- Over the last ten years it is up 74.6%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data, published as part of Gross domestic product (GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 74 observations, free to reuse under CC BY 4.0 (Our World in Data).
About this data
Total economic output of a country or region per year. This data is adjusted for inflation and differences in living costs between countries.