Gross Domestic Product Per Capita for Panama
PCAGDPPAA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,102.85
Year-over-Year Change
72.65%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per Capita for Panama measures the total economic output of the country divided by its population. This metric provides important insights into a country's standard of living and economic development.
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 per capita is a key economic indicator used to assess a country's economic performance and the general well-being of its citizens. It represents the average value of all goods and services produced within a country in a given year, adjusted for the size of the population.
Methodology
The data is collected and calculated by the World Bank using national accounts and population data.
Historical Context
GDP per capita is widely used by policymakers, economists, and international organizations to compare economic development across countries and inform policy decisions.
Key Facts
- Panama's GDP per capita was $15,590 in 2021.
- GDP per capita has grown by over 250% in Panama since 2000.
- Panama has the highest GDP per capita in Central America.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per Capita for Panama measures the total economic output of the country divided by its population.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a key indicator of a country's standard of living and economic development, used by policymakers, economists, and international organizations to compare performance and inform decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and population data.
Q: How is this trend used in economic policy?
A: GDP per capita is widely used by policymakers, economists, and international organizations to compare economic development across countries and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological changes of the World Bank.
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PANFCACNUM
Balance of Payments: Current account balance (credit less debit) for Panama
PANBCAGDPBP6
Bank Regulatory Capital to Risk-Weighted Assets for Panama
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Panama (PCAGDPPAA646NWDB), retrieved from FRED.