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Panama GDP

Panama's GDP rose to $86.26 billion in 2024, up from $83.32 billion in 2023, according to World Bank. This represents an increase of 3.5% ($2.94 billion) from the previous year and accounts for 0.08% of the world's total GDP. Panama has GDP higher than the global median ($86.26 billion vs median $35.85 billion). Compared with the median in Americas, Panama is higher ($86.26 billion vs regional median $25.03 billion) and ranks 15th out of 44 countries in Americas.

Panama's GDP per capita rose to $17,137.35 in 2024, up from $16,872.88 in 2023.

Yearly Historical Data (1960-2024)

(in Billion USD)
Year GDP (Billion USD)
2024 86.26
2023 83.32
2022 76.28
2021 67.4
2020 57.06
2019 69.78
2018 67.32
2017 64.33
2016 59.76
2015 55.77
2014 51.43
2013 46.95
2012 41.6
2011 35.69
2010 30.23
2009 27.79
2008 25.72
2007 21.72
2006 18.66
2005 16.62
2004 15.1
2003 13.6
2002 12.8
2001 12.25
2000 11.97
1999 11.66
1998 11.02
1997 10.06
1996 9.2
1995 9.57
1994 9.37
1993 8.78
1992 8.04
1991 7.07
1990 6.43
1989 5.92
1988 5.9
1987 6.83
1986 6.8
1985 6.54
1984 6.18
1983 5.92
1982 5.77
1981 5.22
1980 4.61
1979 3.7
1978 3.24
1977 2.74
1976 2.59
1975 2.44
1974 2.19
1973 1.91
1972 1.67
1971 1.52
1970 1.35
1969 1.22
1968 1.11
1967 1.03
1966 0.93
1965 0.85
1964 0.78
1963 0.72
1962 0.65
1961 0.6
1960 0.54
Panama GDP : Definition
GDP measures the total value of all goods and services produced in Panama, measured in current US dollars. It is also called Nominal GDP.
Indicator Last Value Prior Value Period
GDP Annual Growth Rate 2.86% 7.4% 2024
GDP per Capita $17,137.35 $16,872.88 2024
GDP per Capita PPP $36,426.01 $35,863.88 2024
R&D Expenditure (% GDP) 0.16% 0.18% 2023
Real GDP $77.39B $75.23B 2024