Gross domestic product (GDP), annual growth rate in Panama
Panama: Gross domestic product (GDP), annual growth rate was 6.51 % change on previous year in 2023. ◆ Volatile
Latest (2023)
6.51 % change on previous year
Change on year
down 51.7%
World rank
27th
of 184 countries
All-time high
23.62 % change on previous year
in 2005
All-time low
-18.47 % change on previous year
in 2020
Years of data
73
1951–2023
Gross domestic product (GDP), annual growth rate in Panama, 1951–2023
Source: Statizoid (derived). Measured in % change on previous year.
Analysis
The most recent figure for gross domestic product (gdp), annual growth rate in Panama is 6.51 % change on previous year, measured in 2023.
That represents a change of down 51.7% on the previous year and down 12.2% over ten years.
Over the whole period, gross domestic product (gdp), annual growth rate in Panama peaked at 23.62 % change on previous year in 2005 and was at its lowest, -18.47 % change on previous year, in 2020.
That places Panama 27th out of 184 countries with data for 2023, putting it in the top quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Gross domestic product (GDP), annual growth rate in Panama, year by year
| Year | % change on previous year | Change |
|---|---|---|
| 1951 | -1.05 % change on previous year | — |
| 1952 | 7.93 % change on previous year | -859.1% |
| 1953 | 6.78 % change on previous year | -14.5% |
| 1954 | 6.44 % change on previous year | -5.1% |
| 1955 | 7.26 % change on previous year | +12.7% |
| 1956 | 3.89 % change on previous year | -46.4% |
| 1957 | 10.69 % change on previous year | +175.1% |
| 1958 | 1.18 % change on previous year | -89.0% |
| 1959 | 6.17 % change on previous year | +423.4% |
| 1960 | 6.36 % change on previous year | +3.0% |
| 1961 | 10.85 % change on previous year | +70.7% |
| 1962 | 8.69 % change on previous year | -19.9% |
| 1963 | 8.03 % change on previous year | -7.6% |
| 1964 | 5.14 % change on previous year | -36.0% |
| 1965 | 9.09 % change on previous year | +76.8% |
| 1966 | 7.56 % change on previous year | -16.9% |
| 1967 | 9.41 % change on previous year | +24.6% |
| 1968 | 7.19 % change on previous year | -23.6% |
| 1969 | 9.08 % change on previous year | +26.3% |
| 1970 | 19.25 % change on previous year | +112.0% |
| 1971 | 11.06 % change on previous year | -42.5% |
| 1972 | 6.12 % change on previous year | -44.6% |
| 1973 | 5.05 % change on previous year | -17.5% |
| 1974 | 5.88 % change on previous year | +16.5% |
| 1975 | 1.78 % change on previous year | -69.7% |
| 1976 | 0.8196 % change on previous year | -54.0% |
| 1977 | -0.3419 % change on previous year | -141.7% |
| 1978 | 7.79 % change on previous year | -2378.5% |
| 1979 | 4.08 % change on previous year | -47.7% |
| 1980 | 10.39 % change on previous year | +154.9% |
| 1981 | 7.8 % change on previous year | -24.9% |
| 1982 | -0.2112 % change on previous year | -102.7% |
| 1983 | 6.87 % change on previous year | -3353.5% |
| 1984 | -0.6382 % change on previous year | -109.3% |
| 1985 | -2.81 % change on previous year | +339.5% |
| 1986 | 10.61 % change on previous year | -478.2% |
| 1987 | 7.72 % change on previous year | -27.3% |
| 1988 | -10.55 % change on previous year | -236.8% |
| 1989 | 0.6155 % change on previous year | -105.8% |
| 1990 | 7.96 % change on previous year | +1192.8% |
| 1991 | 11.41 % change on previous year | +43.4% |
| 1992 | 7.2 % change on previous year | -36.9% |
| 1993 | 4.15 % change on previous year | -42.4% |
| 1994 | 2.65 % change on previous year | -36.1% |
| 1995 | -0.7197 % change on previous year | -127.2% |
| 1996 | 6.1 % change on previous year | -947.2% |
| 1997 | 10.61 % change on previous year | +74.1% |
| 1998 | 8.51 % change on previous year | -19.8% |
| 1999 | 3.32 % change on previous year | -61.0% |
| 2000 | 5.71 % change on previous year | +72.1% |
| 2001 | 1.92 % change on previous year | -66.4% |
| 2002 | 5.36 % change on previous year | +178.9% |
| 2003 | 11.93 % change on previous year | +122.6% |
| 2004 | 1.95 % change on previous year | -83.7% |
| 2005 | 23.62 % change on previous year | +1111.8% |
| 2006 | 9.35 % change on previous year | -60.4% |
| 2007 | -6.16 % change on previous year | -165.9% |
| 2008 | 11.36 % change on previous year | -284.3% |
| 2009 | 3.95 % change on previous year | -65.2% |
| 2010 | 10.23 % change on previous year | +158.8% |
| 2011 | 15.2 % change on previous year | +48.5% |
| 2012 | 14.57 % change on previous year | -4.1% |
| 2013 | 7.41 % change on previous year | -49.1% |
| 2014 | 11.99 % change on previous year | +61.8% |
| 2015 | 6.93 % change on previous year | -42.2% |
| 2016 | 10.78 % change on previous year | +55.5% |
| 2017 | 14.26 % change on previous year | +32.2% |
| 2018 | -0.6498 % change on previous year | -104.6% |
| 2019 | 3.9 % change on previous year | -699.6% |
| 2020 | -18.47 % change on previous year | -574.1% |
| 2021 | 13.27 % change on previous year | -171.8% |
| 2022 | 13.47 % change on previous year | +1.5% |
| 2023 | 6.51 % change on previous year | -51.7% |
Biggest year-on-year movements
Years where Gross domestic product (GDP), annual growth rate 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 |
|---|---|---|---|
| 1983 | +3353.5% | -0.2112 % change on previous year | 6.87 % change on previous year |
| 1978 | +2378.5% | -0.3419 % change on previous year | 7.79 % change on previous year |
| 1990 | +1192.8% | 0.6155 % change on previous year | 7.96 % change on previous year |
| 2005 | +1111.8% | 1.95 % change on previous year | 23.62 % change on previous year |
| 1996 | +947.2% | -0.7197 % change on previous year | 6.1 % change on previous year |
| 1952 | +859.1% | -1.05 % change on previous year | 7.93 % change on previous year |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1950s | 5.48 % change on previous year | -1.05 % change on previous year | 10.69 % change on previous year | 9 |
| 1960s | 8.14 % change on previous year | 5.14 % change on previous year | 10.85 % change on previous year | 10 |
| 1970s | 6.15 % change on previous year | -0.3419 % change on previous year | 19.25 % change on previous year | 10 |
| 1980s | 2.98 % change on previous year | -10.55 % change on previous year | 10.61 % change on previous year | 10 |
| 1990s | 6.12 % change on previous year | -0.7197 % change on previous year | 11.41 % change on previous year | 10 |
| 2000s | 6.9 % change on previous year | -6.16 % change on previous year | 23.62 % change on previous year | 10 |
| 2010s | 9.46 % change on previous year | -0.6498 % change on previous year | 15.2 % change on previous year | 10 |
| 2020s | 3.69 % change on previous year | -18.47 % change on previous year | 13.47 % change on previous year | 4 |
Countries ranked near Panama
- 24 Turkey 6.65 % change on previous year compare
- 25 Bhutan 6.64 % change on previous year compare
- 26 Saint Vincent and the Grenadines 6.56 % change on previous year compare
- 28 Sint Maarten (Dutch part) 6.43 % change on previous year compare
- 29 Georgia 6.38 % change on previous year compare
- 30 Belarus 6.28 % change on previous year 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), annual growth rate in Panama?
- Gross domestic product (gdp), annual growth rate in Panama was 6.51 % change on previous year in 2023, according to Statizoid (derived).
- What is the highest gross domestic product (gdp), annual growth rate recorded in Panama?
- The highest recorded value was 23.62 % change on previous year in 2005.
- What is the lowest gross domestic product (gdp), annual growth rate recorded in Panama?
- The lowest recorded value was -18.47 % change on previous year in 2020.
- How does Panama rank for gross domestic product (gdp), annual growth rate?
- Panama ranks 27th out of 184 countries with data for 2023.
- Is gross domestic product (gdp), annual growth rate rising or falling in Panama?
- Over the last ten years it is down 12.2%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from Statizoid (derived), published as part of Gross domestic product (GDP), annual growth rate. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 73 observations, free to reuse under Derived by Statizoid from the sources named on the page.
How this figure is calculated
The year-on-year percentage change in Gross domestic product (GDP). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.
Computed from
- Gross domestic product (GDP) Feenstra et al. – Penn World Table (2025) – with major processing by Our World in Data
Statizoid computes this series; the underlying measurements belong to the publishers named above. The arithmetic is applied to every country and year where both inputs report, and nothing is estimated unless the page says so.
About this data
The year-on-year percentage change in Gross domestic product (GDP). Computed from consecutive annual observations; years either side of a gap are skipped rather than bridged.