The economy of Panama grew at an annual rate of 9.8% percent in the first quarter of 2022, easing from 13.6 percent growth in the previous period. It was the fifth consecutive quarter of expansion, as the lifting of COVID restrictions has allowed for expansion in the tourism sector. Strong performance was observed in key economic activities including hotels & restaurants (29.2 percent) and transport, storage, and communications (16.2 percent) although the growth in these segments decelerated over the previous quarter. Wholesale trade (15.9 percent), real estate (7.3 percent), and financials (4.9 percent) all accelerated from the previous period. source: Instituto Nacional de Estadística y Censo - Panamá

GDP Annual Growth Rate in Panama averaged 5.81 percent from 2010 until 2022, reaching an all time high of 40 percent in the second quarter of 2021 and a record low of -38.20 percent in the second 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 November of 2022.

GDP Annual Growth Rate in Panama is expected to be 1.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Panama GDP Annual Growth Rate is projected to trend around 3.00 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Panama GDP Annual Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-16 06:00 PM Q1 13.6% 16.3% 7%
2022-09-16 09:00 PM Q2 9.8% 13.6% 23%
2022-12-16 06:00 PM Q3 9.8% 9%


Related Last Previous Unit Reference
GDP Annual Growth Rate 9.80 13.60 percent Jun 2022
GDP from Utilities 447.69 437.55 PAB Million Jun 2022
GDP from Transport 1665.85 1557.76 PAB Million Jun 2022
GDP from Mining 579.93 816.58 PAB Million Jun 2022
GDP from Manufacturing 432.66 531.63 PAB Million Jun 2022
GDP from Construction 1056.88 1294.05 PAB Million Jun 2022
GDP from Agriculture 242.40 197.01 PAB Million Jun 2022
GDP Constant Prices 9925.70 11097.20 PAB Million Jun 2022

Panama GDP Annual Growth Rate
Panama is one of the fastest growing economies in the Americas, greatly influenced by the famous canal connecting Atlantic and Pacific Ocean and business-friendly regulations. As a result service sector with insurance, finance, legal industries and flagship registry accounts for 80 percent of GDP.
Actual Previous Highest Lowest Dates Unit Frequency
9.80 13.60 40.00 -38.20 2010 - 2022 percent Quarterly

News Stream
Panama GDP Expands 9.8% on Strong Tourism
The economy of Panama grew at an annual rate of 9.8% percent in the second quarter of 2022, easing from 13.6 percent growth in the previous period. It was the fifth consecutive quarter of expansion, as the lifting of COVID restrictions has allowed for expansion in the tourism sector. Strong performance was observed in key economic activities including hotels & restaurants (29.2 percent) and transport, storage, and communications (16.2 percent) although the growth in these segments decelerated over the previous quarter. Wholesale trade (15.9 percent), real estate (7.3 percent), and financials (4.9 percent) all accelerated from the previous period.
2022-09-16
Panama GDP Growth Slows but Remains Strong
The economy of Panama grew at a solid annual rate of 13.6 percent in the first quarter of 2022, albeit easing from a 16.3 percent growth in the previous period. It was the fourth consecutive quarter of expansion, helped by the easing of Covid-19 restrictions. Strong performance was observed in key economic activities including hotels & restaurants (63.6 percent); internal trade (22.4 percent); construction (21.7 percent); real estate (12.6 percent) and transport, storage & communications (11.9 percent).
2022-06-16
Panama GDP Growth Eases in Q4
The economy of Panama grew 16.3 percent year-on-year in the fourth quarter of 2021, easing from a 25.5 percent expansion in the previous year, as low base effects due to the pandemic continue to fade. Main increases were seen for mining (59.4 percent), hotels and restaurants (44.7 percent), construction (39.7 percent), and transportation (12.5 percent). On the other hand, financial intermediation services shrunk by 0.9 percent. Considering the full 2021, the Panamanian economy expanded 15.3 percent, partially rebounding from the 17.9 percent contraction in 2020 brought by the pandemic.
2022-03-09