Gross Domestic Product — Value US$ in Panama
Panama: Gross Domestic Product — Value US$ was 86,327 million USD in 2024. ◆ Volatile
Gross Domestic Product — Value US$ in Panama, 1970–2024
Source: Food and Agriculture Organization of the United Nations. Measured in million USD.
Analysis
In 2024, gross domestic product — value us$ in Panama stood at 86,327 million USD. That is the highest value across all 55 years on record.
The figure is up 3.5% on the previous year and up 69.0% over ten years.
Over the whole period, gross domestic product — value us$ in Panama peaked at 86,327 million USD in 2024 and was at its lowest, 1,165 million USD, in 1970.
That places Panama 87th out of 236 countries with data for 2024, putting it 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 — Value US$ in Panama, year by year
| Year | million USD | Change |
|---|---|---|
| 1970 | 1,165 million USD | — |
| 1971 | 1,315 million USD | +12.8% |
| 1972 | 1,445 million USD | +9.9% |
| 1973 | 1,653 million USD | +14.4% |
| 1974 | 1,889 million USD | +14.3% |
| 1975 | 2,115 million USD | +12.0% |
| 1976 | 2,247 million USD | +6.2% |
| 1977 | 2,382 million USD | +6.0% |
| 1978 | 2,824 million USD | +18.6% |
| 1979 | 3,232 million USD | +14.5% |
| 1980 | 4,119 million USD | +27.4% |
| 1981 | 4,639 million USD | +12.6% |
| 1982 | 4,912 million USD | +5.9% |
| 1983 | 5,160 million USD | +5.1% |
| 1984 | 5,456 million USD | +5.7% |
| 1985 | 5,818 million USD | +6.6% |
| 1986 | 6,146 million USD | +5.7% |
| 1987 | 6,339 million USD | +3.1% |
| 1988 | 5,665 million USD | -10.6% |
| 1989 | 5,680 million USD | +0.3% |
| 1990 | 6,174 million USD | +8.7% |
| 1991 | 6,789 million USD | +10.0% |
| 1992 | 7,718 million USD | +13.7% |
| 1993 | 8,428 million USD | +9.2% |
| 1994 | 8,988 million USD | +6.6% |
| 1995 | 9,188 million USD | +2.2% |
| 1996 | 9,472 million USD | +3.1% |
| 1997 | 10,247 million USD | +8.2% |
| 1998 | 11,109 million USD | +8.4% |
| 1999 | 11,641 million USD | +4.8% |
| 2000 | 11,808 million USD | +1.4% |
| 2001 | 11,998 million USD | +1.6% |
| 2002 | 12,470 million USD | +3.9% |
| 2003 | 13,142 million USD | +5.4% |
| 2004 | 14,408 million USD | +9.6% |
| 2005 | 15,714 million USD | +9.1% |
| 2006 | 17,413 million USD | +10.8% |
| 2007 | 21,296 million USD | +22.3% |
| 2008 | 25,238 million USD | +18.5% |
| 2009 | 27,294 million USD | +8.1% |
| 2010 | 29,729 million USD | +8.9% |
| 2011 | 35,140 million USD | +18.2% |
| 2012 | 41,092 million USD | +16.9% |
| 2013 | 46,498 million USD | +13.2% |
| 2014 | 51,071 million USD | +9.8% |
| 2015 | 55,518 million USD | +8.7% |
| 2016 | 59,628 million USD | +7.4% |
| 2017 | 64,259 million USD | +7.8% |
| 2018 | 67,294 million USD | +4.7% |
| 2019 | 69,722 million USD | +3.6% |
| 2020 | 57,087 million USD | -18.1% |
| 2021 | 67,407 million USD | +18.1% |
| 2022 | 76,522 million USD | +13.5% |
| 2023 | 83,382 million USD | +9.0% |
| 2024 | 86,327 million USD | +3.5% |
Panama compared with similar countries
- Panama's 86,327 million USD is below the median for high income countries, which is 95,350 million USD, 91% of the median. (73 countries reporting)
- Panama's 86,327 million USD is above the median for Latin America & Caribbean, which is 24,901 million USD, 3.5× the median. (38 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 2,027 million USD | 1,165 million USD | 3,232 million USD | 10 |
| 1980s | 5,393 million USD | 4,119 million USD | 6,339 million USD | 10 |
| 1990s | 8,975 million USD | 6,174 million USD | 11,641 million USD | 10 |
| 2000s | 17,078 million USD | 11,808 million USD | 27,294 million USD | 10 |
| 2010s | 51,995 million USD | 29,729 million USD | 69,722 million USD | 10 |
| 2020s | 74,145 million USD | 57,087 million USD | 86,327 million USD | 5 |
Countries ranked near Panama
- 84 Angola 93,261 million USD compare
- 85 Croatia 92,524 million USD compare
- 86 Luxembourg 91,262 million USD compare
- 88 Côte d'Ivoire 85,637 million USD compare
- 88 Cote d'Ivoire 85,637 million USD compare
- 90 Lithuania 84,869 million USD 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)
- SDRs holdings, US dollar, annual growth rate 3.53 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0058 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 114.24 units per person (2025)
- SDRs holdings, SDR, annual growth rate -1.41 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0042 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 83.42 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate -18.73 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0049 units per US$ of GDP (2025)
Frequently asked questions
- What is gross domestic product — value us$ in Panama?
- Gross domestic product — value us$ in Panama was 86,327 million USD in 2024, according to Food and Agriculture Organization of the United Nations.
- What is the highest gross domestic product — value us$ recorded in Panama?
- The highest recorded value was 86,327 million USD in 2024.
- What is the lowest gross domestic product — value us$ recorded in Panama?
- The lowest recorded value was 1,165 million USD in 1970.
- How does Panama rank for gross domestic product — value us$?
- Panama ranks 87th out of 236 countries with data for 2024.
- Is gross domestic product — value us$ rising or falling in Panama?
- Over the last ten years it is up 69.0%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from Food and Agriculture Organization of the United Nations, published as part of Gross Domestic Product — Value US$. Statizoid updates them automatically from the source API.
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About this data
The FAOSTAT Macro Indicators database provides a selection of country-level macro indicators relating to total economy (Gross Domestic Product, Gross Fixed Capital Formation); agriculture activity; agriculture, forestry and fishing activity; total manufacturing activity; manufacturing of food products and beverages activity; manufacturing activity of tobacco products; and manufacturing activity of food, beverage and tobacco products.It releases time series for a selection of National Accounts variables, including gross domestic product, gross fixed capital formation, industry-level value added and gross output. The database also proposes additional indicators such as gross domestic product per capita, year-on-year growth rates and measures of industry contribution to gross domestic product. All data relating to Gross Domestic Product, Gross Fixed Capital Formation, agriculture, forestry and fishing activity, and to total manufacturing activity originates from the United Nations Statistics Division (UNSD) National Accounts Estimates of Main Aggregates database, which consists of a complete and consistent set of time series of the main National Accounts aggregates of all UN Members States and other territories in the world for which National Accounts information is available. The UNSD database's content is based on the countries' official National Accounts data reported to UNSD through the annual National Accounts Questionnaire, supplemented with data estimates for any years and countries with incomplete or inconsistent information (See http://unstats.un.org/unsd/snaama/Introduction.asp). Data series relating to the sub-industry Agriculture activity are obtained from the UNSD national accounts Official Country Data databases while series on the Manufacturing activity of food and beverages products, manufacturing activity of tobacco products and manufacturing activity of food, beverages and tobacco products originates from the United Nations Industrial Development Organization (UNIDO) INDSTAT2 database. In order to ensure that sub-industry series are consistent in levels with National Accounts based series, which is needed to support comparability across industries (agriculture vs. agro-industry and sub-industries), UNIDO originating series are rescaled on UNSD National Accounts Estimates of Main Aggregates data series (See Section 17.5 for a more detailed description of the data processing steps).