Total factor productivity in Panama
Panama: Total factor productivity was 1.06 in 2023. ▼ Falling
Total factor productivity in Panama, 1969–2023
Source: Feenstra et al. – Penn World Table (2025) – with major processing by 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
- 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 total factor productivity in Panama?
- Total factor productivity in Panama was 1.06 in 2023, according to Feenstra et al. – Penn World Table (2025) – with major processing by 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 Feenstra et al. – Penn World Table (2025) – with major processing by 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).
About this data
This is the level of total factor productivity, relative to each country's value in 2021 (which is set to 1). This data is adjusted for inflation and differences in living costs between countries.