This is a list of Latin American and Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund's estimates in the October 2018 World Economic Outlook database.. Life expectancy was higher in Panama with people, on average, living three years longer than in Peru. Real GDP Growth YoY data in Panama is updated quarterly, available from Mar 2008 to Mar 2020, with an average rate of 5.5 %. The GDP value of Panama represents 0.06 percent of the world economy. The Panama Canal and use of the U.S. dollar have promoted the strengthening of a globally-oriented services economy. GDP is the total value of all goods and services produced in a country in a year. GDP plunged 38.4% year-on-year in the second quarter, after logging 0.4% growth in the first quarter. Missing data, out of date base years, disputed population data and the size of the unrecorded informal economy means that international rankings of countries in terms of GDP and GDP per capita are meaningless. Panama Jump to. Panama - Gross domestic product based on purchasing-power-parity in current prices 139.24 (billion international dollars) in 2019 In 2019, GDP based on PPP for Panama was 139.24 billion international dollars. value of exports of goods and services), less the f.o.b. Graph and download economic data for Gross Domestic Product for Panama (MKTGDPPAA646NWDB) from 1960 to 2019 about Panama and GDP. Sts. Gross Domestic Product (GDP) GDP, PPP (current international) $132,966,634,973 (2018) GDP Growth Rate (annual %) 3.677% (2018) 1960-2019 Data | 2020-2022 Forecast | Historical | Chart | News. © World Economics Limited. The Gross Domestic Product (GDP) in Panama expanded 0.4 % YoY in Mar 2020, following a growth of 3.3 % in the previous quarter. Gross Domestic Product for Panama 2012-09-24 2020-07-01 World Bank: 2012-09-24 2020-07-01 Release Complete note The GDP figure in 2018 was €55,085 $65,055 million, Panama is number 77 in the ranking of GDP of the 196 countries that we publish. The lowest data : 1980 is the lowest year for the indicator : GDP - Gross Domestic Product (billion $ US). Panama gdp for 2018 was $65.13B, a 4.68% increase from 2017. Download . School enrollment, primary (% gross) Details. Production Method: The sum of all value added to each stage of production of all goods and services. November 24, 2020. Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Filter by country: Central America Costa Rica Honduras Nicaragua El Salvador Guatemala Dominican Republic. Services include operating the Panama Canal, logistics, banking, the Colon Free Trade Zone, insurance, container ports, flagship registry, and tourism and Panama is a center for offshore banking. Compounded with the residential component (8.6%), construction today represents an astounding 25.6% of Panama’s gross domestic product (GDP). Average annual growth was 7.2 percent between 2001 and 2013, more than double the regional average. Gross Domestic Product of Panama grew 3.7% in 2018 compared to last year. Gross domestic product 2019, PPP (millions of Ranking Economy international dollars) TON 186 Tonga 662 a FSM 187 Micronesia, Fed. Country Report 2017 - Includes Panama real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. 1. The result is: 47.47 billion $ US. Most American countries use a national income accounting standard that fails to record the informal economy. This rate is 19 -tenths of one percent less than the figure of 5.6% published in 2017. Panama GDP (Gross Domestic Product) was INT$93.85billion for 2019 in PPP terms. Expenditure-based GDP is total final expenditures at purchasers? Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. Changes in gdp and their respective ranking of economies in 2019. GDP (Nominal) of 193 countries as of 2018 and 2019 by IMF. CO2 emissions (metric tons per capita) Details. Panama is full of history. Panama’s Gross National Product data is updated yearly, averaging 6.493 USD bn from Dec 1960 to 2019, with 60 observations. Gross domestic product (GDP) is the total value of everything produced within a country's borders. Economic conditions are determined largely by airport activity and trade through the Panama Canal and the Colón Free Trade Zone. Country Report 2017 - Includes Panama real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector. Life expectancy at birth, total (years) Details. This resulted in GDP deflator 146.921. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in … Panamanian GDP Up 3% in the 2nd Quarter 2019 Tuesday, September 17, 2019 Indeed the Panama Canal has had a massive transformative effect on world maritime commerce over the year, while from a local perspective it contributes some 20 percent of Panama’s total gross domestic product. The use of different national income standards across Europe has an impact on cross-country comparability and in some cases leads to an underestimation of GDP. GDP PPP based on: 2011 International Dollars. Observation: 2025: 5.000 (+ more) Updated: Oct 22, 2020 Units: Percent Change, Not Seasonally Adjusted Frequency: Annual . Direct access to our calendar releases and historical data. Gross Domestic Product of Panama grew 3.7% in 2018 compared to last year. Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. 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. Gross domestic product (GDP) growth rate in Panama 2021* Published by H. Plecher, May 20, 2020 The statistic shows the growth in real GDP in Panama from 2009 to 2021*. Gross Domestic Product (GDP) in Panama. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. November 9, 2020 Average annual growth was 7.2 percent between 2001 and 2013, more than double the regional average. Canada GDP (Gross Domestic Product) was INT$1,646.52billion for 2019 in PPP terms. The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity. During 2017 the Gross Domestic Product (GDP) of Panama grew 5.4%, that is to say B / 2.042.7 million, representing an improvement compared to the growth of 5.0% of the previous year, according to Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. Panama - Gross domestic product per capita based on purchasing-power-parity in current prices 26,822 (international dollars) in 2019 In 2019, GDP per capita based on PPP for Panama was 26,822 international dollars. The data reached an all-time high of 13.6 % in Jun 2008 and a record low of 0.2 % in Dec 2009. The countries from where the goods are imported include Japan, Netherlands, Costa Rica, United States of America. Over the past decade, Panama has been one of the fastest growing economies worldwide. 5.32% Nominal (current) Gross Domestic Product (GDP) of Panama is $62,283,756,584 (USD) as of 2017. prices (including the f.o.b. The Gross Domestic Product (GDP) in Panama was worth 66.80 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. Real GDP (constant, inflation adjusted) of Panama reached $47,232,508,571 in 2017. 10,141 (LCU) in 2019. It eventually formed the nucleus of the country’s economy while instituting Panama in the global commercial map. GDP (gross domestic product) Cultural Activity; The GDP of Panama is $36.25 billion. 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. Key entities National Comptroller´s Office (Panama) Ministry of Economy and Finance (Panamá) Ministry of Economy and Finance Instituto Nacional de Estadísticas y Censo (Panamá) Government of Panama. GDP per capita is gross domestic product divided by midyear population. The Panama Railway was built by the United States across Panama in 1855. Panama retains one of the highest ratio of FDI to gross domestic product (GDP) in the region at 7.7 percent. Poverty headcount ratio at national poverty lines (% of population) Details. value of imports of goods and services. The GDP per capita of Panama City Metro Area (FL) was $36,415 in 2017. The Trading Economics Application Programming Interface (API) provides direct access to our data. The rates of economic growth come from the CIA World Factbook. Panama imports the following products: Food products, chemicals, consumer goods, capital goods. Gross Domestic Product (GDP) is the total value of the goods and services that are produced within a country's borders by citizens and non-citizens in a fiscal year. The gross domestic product (GDP) measures of national income and output for a given country's economy. Powered by Create your own unique website with customizable templates. Panama has prosperous transportation and logistics service sectors that contribute to its economy's high growth. Based on estimates from the Central Intelligence Agency’s World Factbook, Panama’s exported goods plus services represent 49.4% of total Panamanian economic output or Gross Domestic Product. S&P Upgrades Panama's Credit Rating to 'BBB+', Oil Prices Slide on Friday, Book Weekly Gain, US Stocks Book Weekly Loss, S&P Links Third Fall, Senegal November Inflation Rate at 5-Month Low, Spanish Shares End Lower, Fall 3.1% on the Week. Download historical data for 20 million indicators using your browser. The result is: 47.47 billion $ US. Gross domestic product by country (2012) Guatemala has the highest gross domestic product in Central America, followed by Panama, Costa Rica and El Salvador.The GDP data are based on data from the World Bank corresponding to 2012. The absolute value of GDP in Panama dropped €48 $2,771 million with respect to 2017. Graph and download economic data for Gross Domestic Product for Panama (PANNGDPRPCH) from 2012 to 2021 about Panama, GDP, and rate. Panama gdp for 2016 was $57.91B, a 7.05% increase from 2015. In 1914, Panama Canal was unveiled as a first of its kind connection between the Atlantic and Pacific regions. Transport is the most important sector of the service industry, as it comprises the Panama Canal - … The statistic shows gross domestic product (GDP) per capita in Panama from 1984 to 2024*. 402 PLW 199 Palau 284 MHL 200 Marshall Islands 221 KIR 201 Kiribati 195 NRU 202 Nauru 118 Changes in gdp and their respective ranking of economies in 2019. Panama is full of history. This page provides forecast and historical data, charts, statistics, news and updates for Panama Nominal Gross Domestic Product. PANAMA’S gross domestic product (GDP) increased 5.2% in the second quarter representing $450.7 million compared to the same period last year. Panama’s real gross domestic product (GDP) was around PAB 37.518 billions in 2016 whereas the nominal GDP was PAB 55.122 billions. Panama: GDP plunges at record pace in Q2 as Covid-19 restrictions bite. Home > Releases > Western Hemisphere Regional Economic Outlook > Gross Domestic Product for Panama Gross Domestic Product for Panama (PANNGDPRPCH) Download . Panama’s Gross domestic product or GDP: In 2006, the gross domestic product PPP was USD$25.29 billion. {"2005":3667911.76, "2006":3980759.21, "2007":4462935.09, "2008":4914468.85, "2009":5103990.25, "2010":5492280.54, "2011":6074507.00, "2012":6635184.00, "2013":7075096.70, "2014":7501798.14, "2015":7931876.23, "2016":8325773.20, "2017":8768787.59, "2018":9110770.31, "2019":9384640.06}, [{"1945":2.83, "1946":2.88, "1947":3.00, "1948":2.82, "1949":2.89, "1950":2.90, "1951":2.87, "1952":3.03, "1953":3.21, "1954":3.33, "1955":3.52, "1956":3.71, "1957":4.09, "1958":4.12, "1959":4.39, "1960":3.69, "1961":3.79, "1962":4.10, "1963":4.45, "1964":4.65, "1965":5.08, "1966":5.46, "1967":5.93, "1968":6.34, "1969":6.88, "1970":8.36, "1971":9.16, "1972":9.58, "1973":10.10, "1974":10.35, "1975":10.51, "1976":10.68, "1977":10.80, "1978":11.86, "1979":12.39, "1980":14.28, "1981":15.55, "1982":16.15, "1983":15.91, "1984":16.25, "1985":17.07, "1986":17.84, "1987":18.38, "1988":16.51, "1989":16.77, "1990":18.13, "1991":19.84, "1992":21.46, "1993":22.63, "1994":23.28, "1995":23.69, "1996":24.35, "1997":25.93, "1998":27.83, "1999":28.92, "2000":29.70, "2001":29.87, "2002":30.54, "2003":31.82, "2004":34.22, "2005":36.68, "2006":39.81, "2007":44.63, "2008":49.14, "2009":51.04, "2010":54.92, "2011":60.75, "2012":66.35, "2013":70.75, "2014":75.02, "2015":79.32, "2016":83.26, "2017":87.69, "2018":91.11, "2019":93.85}], {"1971":9.6, "1972":4.6, "1973":5.4, "1974":2.4, "1975":1.6, "1976":1.6, "1977":1.1, "1978":9.8, "1979":4.5, "1980":15.2, "1981":8.9, "1982":3.9, "1983":-1.5, "1984":2.2, "1985":5.1, "1986":4.5, "1987":3.0, "1988":-10.1, "1989":1.6, "1990":8.1, "1991":9.4, "1992":8.2, "1993":5.5, "1994":2.9, "1995":1.8, "1996":2.8, "1997":6.5, "1998":7.3, "1999":3.9, "2000":2.7, "2001":0.6, "2002":2.2, "2003":4.2, "2004":7.5, "2005":7.2, "2006":8.5, "2007":12.1, "2008":10.1, "2009":3.9, "2010":7.6, "2011":10.6, "2012":9.2, "2013":6.6, "2014":6.0, "2015":5.7, "2016":5.0, "2017":5.3, "2018":3.9, "2019":3.0}. The report also noted that for the fourth consecutive year, the gross domestic product per capita in Panama has grown substantially, up from 5.4 percent in 2005 and 6.8 percent in 2006 to 7.7 percent in 2007. All rights reserved. Real gross domestic product (GDP) growth was over 10.4% from 2006–2008. within the Panamanian gross domestic product (from 6.6% to 17.0%). Real gross domestic product (GDP) growth was over 10.4% from 2006–2008. 2013, Peru had a population of 30 million and a Gross Domestic Product (GDP) of US$340 billion. The gross domestic product (GDP) is equal to the total expenditures for all final goods and services produced within the country in a stipulated period of time. Panama has challenges, including corruption, judicial capacity, a poorly educated workforce, and labor and banking issues, which have either precluded further investment from foreign companies or have complicated existing investments. Read more. GDP Growth Rate in 2017 was 5.32%, representing a change of 2,386,354,184 US$ … Data from World bank and The World Factbook includes gdp and year estimated for. - … PANAMA IS MORE THAN A CANAL. It is estimated that the application of the latest standard would add US$824 billion. Nominal Gross Domestic Product for Panama from Instituto Nacional De Estadistica y Censo (INEC) for the GDP by Expenditure release. The document "World Economic Outlook", prepared by the International Monetary Fund (IMF), states that for Panama the projected growth of the Gross Domestic Product (GDP) for 2019 was reduced from 5% to 4.3%. Panama gdp for 2019 was $66.80B, a 2.57% increase from 2018. IT IS A PARADISE, with excellent weather, numerous diverse ecosystems, and breathtaking coastal areas. Gross domestic product 2019 (millions of Ranking Economy US dollars) TON 196 Tonga 450 STP 197 São Tomé and Principe 429 FSM 198 Micronesia, Fed. GNI … PANAMA GROSS DOMESTIC PRODUCT FOR 20 YEARS Table And Graph Of Panama Gross Domestic Product For 20 Years: Year Panama GDP (In Annual % change) 1998 7.3 1999 3.9 2000 2.7 2001 0.6 2002 To avoid double-counting, GDP includes the final value of the product, but not the parts that go into it. In 1914, Panama Canal was unveiled as a first of its kind connection between the Atlantic and Pacific regions. It eventually formed the nucleus of the country’s economy while instituting Panama in the global commercial map. In 1534 he wanted a route to be devised that would ease the danger and length of the voyages of Spain’s ships traveling between Peru and Spain. Panama’s Gross National Product was reported at 62.397 USD bn in Dec 2019. World … Panama gdp for 2017 was $62.22B, a 7.45% increase from 2016. Publish your articles and forecasts in our website. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in … How Is It Calculated? source: World Bank 10Y 25Y This railway largely determined the route the canal itself would later take.3. The economy of Panama is centered on a highly-developed services sector, which represents more than 75% of gross domestic product (GDP). The construction boom has been the main driver behind the drastic reduction registered in poverty rates and inequality. The Gross Domestic Product per capita in Panama was last recorded at 11910.16 US dollars in 2019. The data reached an all-time high of 62.397 USD bn in 2019 and a record low of 476.970 USD mn in 1960. The report also noted that for the fourth consecutive year, the gross domestic product per capita in Panama has grown substantially, up from 5.4 percent in 2005 and 6.8 percent in 2006 to 7.7 percent in 2007. Based on estimates from the Central Intelligence Agency’s World Factbook, Panama’s exported goods plus services represent 49.4% of total Panamanian economic output or Gross Domestic Product. When economists talk about the "size" of the economy, they are referring to GDP. This rate is 19 -tenths of one percent less than the figure of 5.6% published in 2017. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. Panama GDP: 88 billion International Dollars (2017) Gross Domestic Product (PPP in 2011 prices) The Panamanian economy has been one of the fastest growing and best managed in Latin America. Panama had estimated population of 4.037 million in the year 2016 and expected to reach 4.451 million by 2022. Thomas Jefferson encouraged the Spanish to consider this idea in 1788.2. Panama gdp for 2019 was $66.80B, a 2.57% increase from 2018. Data from World bank and The World Factbook includes gdp and year estimated for. Graph and download economic data for Gross Domestic Product for Panama (PANNGDPRPCH) from 2012 to 2021 about Panama, GDP, and rate. This is a list of Latin American and Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund's estimates in the October 2018 World Economic Outlook database.. Over the past decade, Panama has been one of the fastest growing economies worldwide. Panama's economy is pegged to the dollar and the service industry is the biggest in the country, accounting for about 65.2% of Panama’s GDP and employing 67.2% of the workforce. Panama’s unemployment rate was 5.494% of total labor force. The lowest data : 1980 is the lowest year for the indicator : GDP - Gross Domestic Product (billion $ US). Panama: Consumer prices decline in annual terms in May. Panama : 36 records since 1980 , the average of these recordings : 14.45 billion $ US The highest data : 2015 is the highest year for the indicator : GDP - Gross Domestic Product (billion $ US). Estimated gross domestic product (GDP) growth in 2016 was 6.2%, the highest in the Region of the Americas. source: World Bank 10Y 25Y This comprehensive country-by-country data set focuses on the key economic indicators for the gross domestic product of Panama, with up to 87 key data series ranging from 1980 to 2050. The absolute value of GDP in Panama dropped €48 $2,771 million with respect to 2017. Panama : 36 records since 1980 , the average of these recordings : 14.45 billion $ US The highest data : 2015 is the highest year for the indicator : GDP - Gross Domestic Product (billion $ US). The rates of economic growth come from the CIA World Factbook. The earliest recorded mention of a canal through Panama was made by Charles V, King of Spain and Holy Roman Emperor. Cost of living is low and life is quite easy, as domestic labor is still available quite inexpensively. The Panamanian economy grew by 6.1 percent in 2014, coming down slightly to 5.8 and 5.4 percent in 2015 and 2016, respectively. The GDP per Capita in Panama is equivalent to 94 percent of the world's average. Gross domestic product by country (2012) Guatemala has the highest gross domestic product in Central America, followed by Panama, Costa Rica and El Salvador.The GDP data are based on data from the World Bank corresponding to 2012. Details. GDP (Nominal) of 193 countries as of 2018 and 2019 by IMF. World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. The Panamanian economy has been one of the fastest growing and best managed in Latin America. The document " World Economic Outlook ", prepared by the International Monetary Fund (IMF), states that for Panama the projected growth of the Gross Domestic Product (GDP) for 2019 was reduced from 5% to 4.3%. All rights reserved.Terms & Conditions. During 2017 the Gross Domestic Product (GDP) of Panama grew 5.4%, that is to say B / 2.042.7 million, representing an improvement compared to the growth of 5.0% of the previous year, according to official figures from the National Institute of Statistics and Census (INEC). Graph and download economic data for Gross Domestic Product for Panama (MKTGDPPAA646NWDB) from 1960 to 2019 about Panama and GDP. Variable: Gross domestic product, constant prices Note: Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific . Sts. This records an increase from the previous number of 60.206 USD bn for Dec 2018. World Economics Limited. In contrast, Panama had a population of 3.6 million and a GDP of US$60 billion. The Panamanian economy grew by 6.1 percent in 2014, coming down slightly to 5.8 and 5.4 percent in 2015 and 2016, respectively. The GDP figure in 2018 was €55,085 $65,055 million, Panama is number 77 in the ranking of GDP of the 196 countries that we publish. The most unreliable economic data is produced in Argentina which has manipulated inflation and GDP statistics since 2007.