GDP growth (annual %) (UNESCO Institute) in Panama
Panama: GDP growth (annual %) (UNESCO Institute) was 2.9% in 2024. ◆ Volatile
GDP growth in Panama, 1970–2024
Source: UNESCO Institute for Statistics. Measured in annual %.
Analysis
The most recent figure for gdp growth in Panama is 2.9%, measured in 2024.
Compared with earlier readings it is down 61.3% on the previous year and down 38.1% over ten years.
Over the whole period, gdp growth in Panama peaked at 16.5% in 2021 and was at its lowest, -17.8%, in 2020.
Panama ranks 117th of 212 countries on this measure, in the middle of the range.
The series is highly variable year to year, so single readings are best treated with caution.
GDP growth (annual %) (UNESCO Institute) in Panama, year by year
| Year | annual % | Change |
|---|---|---|
| 1970 | 7.0% | — |
| 1971 | 9.6% | +38.2% |
| 1972 | 4.6% | -52.3% |
| 1973 | 5.4% | +17.1% |
| 1974 | 2.4% | -54.4% |
| 1975 | 1.7% | -28.9% |
| 1976 | 1.7% | -4.4% |
| 1977 | 1.1% | -34.3% |
| 1978 | 9.8% | +795.1% |
| 1979 | 4.5% | -53.9% |
| 1980 | 13.1% | +189.8% |
| 1981 | 9.2% | -29.6% |
| 1982 | 5.3% | -41.9% |
| 1983 | -4.5% | -184.0% |
| 1984 | 2.7% | -160.3% |
| 1985 | 4.9% | +82.4% |
| 1986 | 3.6% | -27.8% |
| 1987 | -1.8% | -150.7% |
| 1988 | -13.4% | +639.6% |
| 1989 | 1.6% | -111.7% |
| 1990 | 8.1% | +418.4% |
| 1991 | 9.4% | +16.3% |
| 1992 | 8.2% | -12.9% |
| 1993 | 5.5% | -33.5% |
| 1994 | 2.9% | -47.8% |
| 1995 | 1.8% | -38.5% |
| 1996 | -5.8% | -429.1% |
| 1997 | 7.7% | -233.7% |
| 1998 | 8.4% | +8.8% |
| 1999 | 5.2% | -37.9% |
| 2000 | 4.2% | -19.2% |
| 2001 | 0.9% | -77.4% |
| 2002 | 2.5% | +164.1% |
| 2003 | 5.1% | +103.2% |
| 2004 | 8.2% | +60.4% |
| 2005 | 8.3% | +1.2% |
| 2006 | 9.9% | +19.1% |
| 2007 | 13.2% | +33.4% |
| 2008 | 10.2% | -22.5% |
| 2009 | 1.6% | -84.2% |
| 2010 | 6.1% | +276.8% |
| 2011 | 11.9% | +96.1% |
| 2012 | 9.6% | -19.2% |
| 2013 | 6.3% | -34.3% |
| 2014 | 4.6% | -26.9% |
| 2015 | 5.3% | +13.9% |
| 2016 | 4.6% | -13.2% |
| 2017 | 5.7% | +25.6% |
| 2018 | 3.9% | -31.8% |
| 2019 | 3.1% | -20.8% |
| 2020 | -17.8% | -674.3% |
| 2021 | 16.5% | -192.4% |
| 2022 | 10.8% | -34.6% |
| 2023 | 7.4% | -31.3% |
| 2024 | 2.9% | -61.3% |
Panama compared with similar countries
- Panama's 2.9% is above the median for high income countries, which is 2.3%, 1.3× the median. (83 countries reporting)
- Panama's 2.9% is below the median for Latin America & Caribbean, which is 3.4%, 85% of the median. (41 countries reporting)
Biggest year-on-year movements
Years where GDP growth (annual %) (UNESCO Institute) in Panama changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1978 | +795.1% | 1.1% | 9.8% |
| 2020 | -674.3% | 3.1% | -17.8% |
| 1988 | -639.6% | -1.8% | -13.4% |
| 1990 | +418.4% | 1.6% | 8.1% |
| 1996 | -429.1% | 1.8% | -5.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 4.8% | 1.1% | 9.8% | 10 |
| 1980s | 2.1% | -13.4% | 13.1% | 10 |
| 1990s | 5.1% | -5.8% | 9.4% | 10 |
| 2000s | 6.4% | 0.9% | 13.2% | 10 |
| 2010s | 6.1% | 3.1% | 11.9% | 10 |
| 2020s | 3.9% | -17.8% | 16.5% | 5 |
Countries ranked near Panama
More population data for Panama
- Population regions with projections, annual growth rate -0.192 % change on previous year (2100)
- Urban and rural population 2050, annual growth rate -2.53 % change on previous year (2050)
- Population long run with projections, annual growth rate -0.192 % change on previous year (2100)
- Un population 2024 vs 2022, annual growth rate -0.1369 % change on previous year (2100)
- Africa's Development Dynamics (AfDD) Table 05 - Demographic estimates 5,736 Persons (2050)
- Africa's Development Dynamics (AfDD) Table 03 - Annual population 1.11 Percent per annum (2030)
- Projected population under age 5, annual growth rate -0.4333 % change on previous year (2100)
- Population growth rate -0.197 (2100)
- Population density 79.6 (2100)
- Projected population under age 5 267,694 (2100)
Frequently asked questions
- What is gdp growth in Panama?
- Gdp growth in Panama was 2.9% in 2024, according to UNESCO Institute for Statistics.
- What is the highest gdp growth recorded in Panama?
- The highest recorded value was 16.5% in 2021.
- What is the lowest gdp growth recorded in Panama?
- The lowest recorded value was -17.8% in 2020.
- How does Panama rank for gdp growth?
- Panama ranks 117th out of 212 countries with data for 2024.
- Is gdp growth rising or falling in Panama?
- Over the last ten years it is down 38.1%. The long-run trend across the full record is volatile.
- Where does this Panama data come from?
- The figures come from UNESCO Institute for Statistics, published as part of GDP growth (annual %). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 55 observations, free to reuse under CC BY-SA 3.0 IGO (UNESCO Institute for Statistics).
About this data
February 2026 Data Release