Panama Gdp
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The gdp value of panama represents 006 percent of the world economy.
Panama gdp. The gross domestic product gdp in panama was worth 6680 billion us dollars in 2019 according to official data from the world bank and projections from trading economics. 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. Panama gdp growth rate for 2017 was 560 a 065 increase from 2016.
Nominal current gross domestic product gdp of panama is 62283756584 usd as of 2017. The economy of panama is based mainly on the services sector which accounts for nearly 80 of its gdp and accounts for most of its foreign income. Panamas dollar based economy rests primarily on a well developed services sector that accounts for more than three quarters of gdp.
The panamanian economy grew by 61 percent in 2014 coming down slightly to 58 and 54 percent in 2015 and 2016 respectively. Services include the panama canal banking commerce the colon free trade zone insurance container ports and flagship registry medical and health and tourismthe countrys industry includes manufacturing of aircraft spare parts cement. Panamas economic freedom score is 672 making its economy the 55th freest in the 2020 index.
Panama gdp growth slows to 27 in q3 panamas economy advanced 27 percent year on year in the third quarter of 2019 easing from a 29 percent expansion in the prior period. The robust economic growth of today is a historic opportunity for progress in reducing poverty and inequality. Gdp growth rate in 2017 was 532 representing a change of 2386354184 us over 2016 when real gdp was 44846154387.
The majority of panamas exported services are related either directly or indirectly to the panama canal and the cfz. Panama gdp growth rate for 2018 was 369 a 191 decline from 2017. Its overall score is unchanged from the 2019 index with an improved score in government integrity.
Despite its status of middle income country in terms of gdp panama still remains a society of sharp contrasts. Panama gdp growth rate for 2016 was 495 a 078 decline from 2015.
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