Gross Domestic Product for Panama
MKTGDPPAA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86,260,400,000.00
Year-over-Year Change
107.38%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Panama measures the total value of all goods and services produced within the country. It is a key indicator of economic growth and activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP is the broadest measure of a country's economic output and serves as an important gauge of economic health. Policymakers and analysts closely monitor Panama's GDP to assess the country's economic performance and make informed decisions.
Methodology
The World Bank collects Panama's GDP data through surveys and national accounts.
Historical Context
Panama's GDP data is widely used by international institutions, governments, and investors to evaluate the country's economic conditions and prospects.
Key Facts
- Panama's GDP reached $66.8 billion in 2021.
- The services sector accounts for over 70% of Panama's GDP.
- Panama's GDP per capita was $15,747 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Panama measures the total value of all goods and services produced within the country. It is a comprehensive indicator of economic activity.
Q: Why is this trend relevant for users or analysts?
A: Panama's GDP data is essential for evaluating the country's economic performance, informing policy decisions, and assessing investment opportunities.
Q: How is this data collected or calculated?
A: The World Bank collects Panama's GDP data through surveys and national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use Panama's GDP data to monitor the country's economic conditions, make informed decisions, and assess the effectiveness of economic policies.
Q: Are there update delays or limitations?
A: The GDP data for Panama is typically updated on an annual basis, with some potential for delays in data reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Panama (MKTGDPPAA646NWDB), retrieved from FRED.