Panama’s economy advanced 2.7 percent year-on-year in the third quarter of 2019, easing from a 2.9 percent expansion in the prior period. It was the weakest growth rate since at least 2010, amid a slowdown in trade (1.2 percent from 2 percent in Q2); financial intermediation (1.9 percent from 3.9 percent) and education (1.7 percent from 4.8 percent). Additionally, output shrank in construction (-2.6 percent from 2.9 percent); real estate (-2.8 percent from 3.3 percent) and restaurants & hotels (-3.6 percent from 1.4 percent). Also, manufacturing activity contracted further (-1.9 percent from -1 percent). In contrast, output went up at a faster pace in transport & communications (9.1 percent from 5.2 percent); utilities (5.7 percent from 2.1 percent); social services & private health (4.1 percent from 3.1 percent); mining (83 percent from 6.6 percent) and agriculture (10.1 percent 8.4 percent).
GDP Annual Growth Rate in Panama averaged 6.82 percent from 2010 until 2019, reaching an all time high of 12.20 percent in the second quarter of 2011 and a record low of 2.90 percent in the second quarter of 2019. 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. source: Instituto Nacional de Estadística y Censo - Panamá
GDP Annual Growth Rate in Panama is expected to be 4.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Panama to stand at 4.80 in 12 months time. In the long-term, the Panama GDP Annual Growth Rate is projected to trend around 5.20 percent in 2021 and 5.30 percent in 2022, according to our econometric models.