Total factor productivity in Panama
Panama: Total factor productivity was 1.06 in 2023. ▼ Falling
Latest (2023)
1.06
Change on year
up 0.4%
World rank
10th
of 120 countries
All-time high
1.45
in 1981
All-time low
0.9059
in 2020
Years of data
55
1969–2023
Total factor productivity in Panama, 1969–2023
Source: Our World in Data.
Analysis
The most recent figure for total factor productivity in Panama is 1.06, measured in 2023.
Compared with earlier readings it is up 0.4% on the previous year and down 17.5% over ten years.
Over the whole period, total factor productivity in Panama peaked at 1.45 in 1981 and was at its lowest, 0.9059, in 2020.
That places Panama 10th out of 120 countries with data for 2023, putting it in the top 10%.
The long-run direction has been consistently falling across the 55 years of available data.
Total factor productivity in Panama, year by year
| Year | Value | Change |
|---|---|---|
| 1969 | 1.26 | — |
| 1970 | 1.42 | +12.7% |
| 1971 | 1.44 | +1.7% |
| 1972 | 1.38 | -4.6% |
| 1973 | 1.35 | -2.1% |
| 1974 | 1.29 | -4.1% |
| 1975 | 1.3 | +0.7% |
| 1976 | 1.26 | -3.7% |
| 1977 | 1.25 | -0.7% |
| 1978 | 1.29 | +3.1% |
| 1979 | 1.27 | -1.3% |
| 1980 | 1.4 | +10.4% |
| 1981 | 1.45 | +3.3% |
| 1982 | 1.43 | -0.9% |
| 1983 | 1.33 | -7.0% |
| 1984 | 1.32 | -1.4% |
| 1985 | 1.34 | +2.2% |
| 1986 | 1.36 | +1.2% |
| 1987 | 1.33 | -2.5% |
| 1988 | 1.21 | -8.6% |
| 1989 | 1.2 | -0.6% |
| 1990 | 1.29 | +7.2% |
| 1991 | 1.38 | +6.6% |
| 1992 | 1.39 | +0.9% |
| 1993 | 1.36 | -1.8% |
| 1994 | 1.32 | -3.1% |
| 1995 | 1.26 | -4.7% |
| 1996 | 1.24 | -1.4% |
| 1997 | 1.24 | -0.0% |
| 1998 | 1.25 | +0.8% |
| 1999 | 1.23 | -1.7% |
| 2000 | 1.24 | +0.5% |
| 2001 | 1.21 | -2.4% |
| 2002 | 1.19 | -1.4% |
| 2003 | 1.2 | +1.1% |
| 2004 | 1.23 | +2.7% |
| 2005 | 1.26 | +2.2% |
| 2006 | 1.31 | +3.9% |
| 2007 | 1.36 | +4.2% |
| 2008 | 1.35 | -1.1% |
| 2009 | 1.3 | -3.3% |
| 2010 | 1.29 | -0.9% |
| 2011 | 1.32 | +1.8% |
| 2012 | 1.32 | +0.2% |
| 2013 | 1.28 | -3.0% |
| 2014 | 1.23 | -3.8% |
| 2015 | 1.19 | -3.1% |
| 2016 | 1.16 | -3.0% |
| 2017 | 1.13 | -2.0% |
| 2018 | 1.09 | -4.1% |
| 2019 | 1.05 | -3.1% |
| 2020 | 0.9059 | -13.9% |
| 2021 | 1 | +10.4% |
| 2022 | 1.05 | +5.1% |
| 2023 | 1.06 | +0.4% |
Panama compared with similar countries
- Panama's 1.06 is above the median for high income countries, which is 0.994, 1.1× the median. (52 countries reporting)
- Panama's 1.06 is above the median for Latin America & Caribbean, which is 1, 1.1× the median. (21 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 1.26 | 1.26 | 1.26 | 1 |
| 1970s | 1.32 | 1.25 | 1.44 | 10 |
| 1980s | 1.34 | 1.2 | 1.45 | 10 |
| 1990s | 1.3 | 1.23 | 1.39 | 10 |
| 2000s | 1.27 | 1.19 | 1.36 | 10 |
| 2010s | 1.21 | 1.05 | 1.32 | 10 |
| 2020s | 1 | 0.9059 | 1.06 | 4 |
Countries ranked near Panama
More economy & growth data for Panama
- Real gdp growth, annual growth rate 58.3 % change on previous year (2025)
- 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)
Frequently asked questions
- What is total factor productivity in Panama?
- Total factor productivity in Panama was 1.06 in 2023, according to Our World in Data.
- What is the highest total factor productivity recorded in Panama?
- The highest recorded value was 1.45 in 1981.
- What is the lowest total factor productivity recorded in Panama?
- The lowest recorded value was 0.9059 in 2020.
- How does Panama rank for total factor productivity?
- Panama ranks 10th out of 120 countries with data for 2023.
- Is total factor productivity rising or falling in Panama?
- Over the last ten years it is down 17.5%. The long-run trend across the full record is falling.
- Where does this Panama data come from?
- The figures come from Our World in Data, published as part of Total factor productivity. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY 4.0 (Our World in Data).