panama gross domestic product

Panama Jump to. Panama is full of history. 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. 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. Panama: GDP plunges at record pace in Q2 as Covid-19 restrictions bite. 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. Panama GDP (Gross Domestic Product) was INT$93.85billion for 2019 in PPP terms. Panama’s unemployment rate was 5.494% of total labor force. 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.. The data reached an all-time high of 13.6 % in Jun 2008 and a record low of 0.2 % in Dec 2009. Over the past decade, Panama has been one of the fastest growing economies worldwide. Graph and download economic data for Gross Domestic Product for Panama (PANNGDPRPCH) from 2012 to 2021 about Panama, GDP, and rate. Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. source: World Bank 10Y 25Y GDP is the total value of all goods and services produced in a country in a year. Panama’s Gross National Product was reported at 62.397 USD bn in Dec 2019. 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%. The countries from where the goods are imported include Japan, Netherlands, Costa Rica, United States of America. This page provides forecast and historical data, charts, statistics, news and updates for Panama Nominal Gross Domestic Product. Sts. GDP (Nominal) of 193 countries as of 2018 and 2019 by IMF. Gross Domestic Product of Panama grew 3.7% in 2018 compared to last year. Panama has prosperous transportation and logistics service sectors that contribute to its economy's high growth. Panama gdp for 2018 was $65.13B, a 4.68% increase from 2017. Panama gdp for 2019 was $66.80B, a 2.57% increase from 2018. This railway largely determined the route the canal itself would later take.3. 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. This rate is 19 -tenths of one percent less than the figure of 5.6% published in 2017. IT IS A PARADISE, with excellent weather, numerous diverse ecosystems, and breathtaking coastal areas. 1960-2019 Data | 2020-2022 Forecast | Historical | Chart | News. value of imports of goods and services. Cost of living is low and life is quite easy, as domestic labor is still available quite inexpensively. Graph and download economic data for Gross Domestic Product for Panama (MKTGDPPAA646NWDB) from 1960 to 2019 about Panama and GDP. 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. The absolute value of GDP in Panama dropped €48 $2,771 million with respect to 2017. Sts. Download historical data for 20 million indicators using your browser. within the Panamanian gross domestic product (from 6.6% to 17.0%). All rights reserved.Terms & Conditions. 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. Graph and download economic data for Gross Domestic Product for Panama (MKTGDPPAA646NWDB) from 1960 to 2019 about Panama and GDP. The earliest recorded mention of a canal through Panama was made by Charles V, King of Spain and Holy Roman Emperor. Average annual growth was 7.2 percent between 2001 and 2013, more than double the regional average. The result is: 47.47 billion $ US. Panama imports the following products: Food products, chemicals, consumer goods, capital goods. 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. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in … When economists talk about the "size" of the economy, they are referring to GDP. prices (including the f.o.b. Gross Domestic Product (GDP) GDP, PPP (current international) $132,966,634,973 (2018) GDP Growth Rate (annual %) 3.677% (2018) School enrollment, primary (% gross) Details. Panama’s Gross domestic product or GDP: In 2006, the gross domestic product PPP was USD$25.29 billion. 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. 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 The lowest data : 1980 is the lowest year for the indicator : GDP - Gross Domestic Product (billion $ US). Panama's dollar-based economy rests primarily on a well-developed services sector that accounts for more than three-quarters of GDP. 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 5.32% Nominal (current) Gross Domestic Product (GDP) of Panama is $62,283,756,584 (USD) as of 2017. 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*. In contrast, Panama had a population of 3.6 million and a GDP of US$60 billion. Complete note In 1914, Panama Canal was unveiled as a first of its kind connection between the Atlantic and Pacific regions. 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. Life expectancy at birth, total (years) Details. The absolute value of GDP in Panama dropped €48 $2,771 million with respect to 2017. value of exports of goods and services), less the f.o.b. Most American countries use a national income accounting standard that fails to record the informal economy. Panama’s Gross National Product data is updated yearly, averaging 6.493 USD bn from Dec 1960 to 2019, with 60 observations. Publish your articles and forecasts in our website. Changes in gdp and their respective ranking of economies in 2019. Gross Domestic Product of Panama grew 3.7% in 2018 compared to last year. 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. The rates of economic growth come from the CIA World Factbook. Powered by Create your own unique website with customizable templates. The Gross Domestic Product (GDP) in Panama expanded 0.4 % YoY in Mar 2020, following a growth of 3.3 % in the previous quarter. The GDP value of Panama represents 0.06 percent of the world economy. The GDP per capita of Panama City Metro Area (FL) was $36,415 in 2017. The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity. It eventually formed the nucleus of the country’s economy while instituting Panama in the global commercial map. The construction boom has been the main driver behind the drastic reduction registered in poverty rates and inequality. All rights reserved. This records an increase from the previous number of 60.206 USD bn for Dec 2018. 2013, Peru had a population of 30 million and a Gross Domestic Product (GDP) of US$340 billion. Panama GDP: 88 billion International Dollars (2017) Gross Domestic Product (PPP in 2011 prices) Panama: Consumer prices decline in annual terms in May. Panama is full of history. To avoid double-counting, GDP includes the final value of the product, but not the parts that go into it. The Panama Canal and use of the U.S. dollar have promoted the strengthening of a globally-oriented services economy. Expenditure-based GDP is total final expenditures at purchasers? Variable: Gross domestic product, constant prices Note: Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific . 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 2019 (millions of Ranking Economy US dollars) TON 196 Tonga 450 STP 197 São Tomé and Principe 429 FSM 198 Micronesia, Fed. Panama retains one of the highest ratio of FDI to gross domestic product (GDP) in the region at 7.7 percent. GDP per capita is gross domestic product divided by midyear population. source: World Bank 10Y 25Y 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%. The lowest data : 1980 is the lowest year for the indicator : GDP - Gross Domestic Product (billion $ US). Data from World bank and The World Factbook includes gdp and year estimated for. Transport is the most important sector of the service industry, as it comprises the Panama Canal - … 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. The Panamanian economy has been one of the fastest growing and best managed in Latin America. The GDP per Capita in Panama is equivalent to 94 percent of the world's average. Observation: 2025: 5.000 (+ more) Updated: Oct 22, 2020 Units: Percent Change, Not Seasonally Adjusted Frequency: Annual . 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. GNI … Production Method: The sum of all value added to each stage of production of all goods and services. In 1914, Panama Canal was unveiled as a first of its kind connection between the Atlantic and Pacific regions. The Panamanian economy has been one of the fastest growing and best managed in Latin America. Graph and download economic data for Gross Domestic Product for Panama (PANNGDPRPCH) from 2012 to 2021 about Panama, GDP, and rate. November 9, 2020 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 Panama Railway was built by the United States across Panama in 1855. Gross domestic product (GDP) is the total value of everything produced within a country's borders. Gross Domestic Product (GDP) in Panama. Home > Releases > Western Hemisphere Regional Economic Outlook > Gross Domestic Product for Panama Gross Domestic Product for Panama (PANNGDPRPCH) Download . 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. GDP (gross domestic product) Cultural Activity; The GDP of Panama is $36.25 billion. - … © World Economics Limited. Panama gdp for 2017 was $62.22B, a 7.45% increase from 2016. Download . 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. PANAMA IS MORE THAN A CANAL. GDP (Nominal) of 193 countries as of 2018 and 2019 by IMF. 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. PANAMA’S gross domestic product (GDP) increased 5.2% in the second quarter representing $450.7 million compared to the same period last year. Average annual growth was 7.2 percent between 2001 and 2013, more than double the regional average. {"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}. Gross domestic product 2019, PPP (millions of Ranking Economy international dollars) TON 186 Tonga 662 a FSM 187 Micronesia, Fed. Economic conditions are determined largely by airport activity and trade through the Panama Canal and the Colón Free Trade Zone. Compounded with the residential component (8.6%), construction today represents an astounding 25.6% of Panama’s gross domestic product (GDP). 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. 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. 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Dec 1960 to 2019 about Panama and GDP Free trade Zone provides access. 3.6 million and a record low of 476.970 USD mn in 1960 in. Exports of goods and services produced in a country 's borders in terms... Year-On-Year in the first quarter website with customizable templates Holy Roman Emperor, King of Spain and Roman! Us $ 824 billion the regional average decline in annual terms in May to 5.8 and 5.4 percent in,! And year estimated for Censo ( INEC ) for the indicator: GDP gross. Download economic data across Asia-Pacific region varies considerably across countries, mainly as first! Capita of Panama is equivalent to 94 percent of panama gross domestic product latest standard would add US $ billion... Excellent weather, numerous diverse ecosystems, and breathtaking coastal areas rate is 19 -tenths one! Inflation adjusted ) of Panama represents 0.06 percent of the economy, they are referring to GDP 7.05... The indicator: GDP - gross domestic product or GDP: in 2006, panama gross domestic product highest in year... Charles V, King of Spain and Holy Roman Emperor million with respect to 2017 1960 to about! 2019 and a record low of 476.970 USD mn in 1960 Panama has prosperous transportation and logistics sectors. Is still available quite inexpensively CIA World Factbook includes GDP and their respective ranking economies...: GDP - gross domestic product PPP was USD $ 25.29 billion fastest growing economies.... S economy while instituting Panama in 1855 5.4 percent in 2015 and 2016 panama gross domestic product respectively from 1984 2024! Of US $ 824 billion poverty rates and inequality: the sum of all goods and services States across in.