Panama’s economy advanced 0.4 percent year-on-year in the first quarter of 2020 following a 3.3 percent expansion in the previous period. Growth was mainly dragged by construction (-6.9 percent vs -4.2 percent in Q4), manufacturing (-3.9 percent vs -2.2 percent), lodging & food services (-5.2 percent vs -1.3 percent), financial services (-1.4 percent vs 2.8 percent), and fishing (-4.9 percent vs -16.8 percent). In contrast, mining jumped 103.8 percent (vs 79.5 percent), transport increased by 4.4 percent (vs 8.4 percent), and health & social services grew 3.8 percent (vs 5.3 percent).
GDP Annual Growth Rate in Panama averaged 6.50 percent from 2010 until 2020, reaching an all time high of 12.20 percent in the second quarter of 2011 and a record low of 0.40 percent in the first quarter of 2020. This page provides the latest reported value for - Panama GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Panama GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Instituto Nacional de Estadística y Censo - Panamá
GDP Annual Growth Rate in Panama is expected to be -3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Panama to stand at 1.50 in 12 months time. In the long-term, the Panama GDP Annual Growth Rate is projected to trend around 3.90 percent in 2021 and 3.70 percent in 2022, according to our econometric models.