Panama GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Panama expanded 8.90 percent in the third quarter of 2013 over the same quarter of the previous year. GDP Annual Growth Rate in Panama is reported by the INCE, Panama. From 2010 until 2013, Panama GDP Annual Growth Rate averaged 9.4 Percent reaching an all time high of 12.2 Percent in June of 2011 and a record low of 6.2 Percent in June of 2010. Panama is one of the fastest growing countries in the Americas. Its economy is greatly influenced by the famous canal connecting Atlantic and Pacific Ocean and business-friendly regulations. As a result service sector with insurance, finance, legal industries and flagship registry accounts for 80 percent of GDP. However, in order to keep the current pace of growth the government needs to address the shortage of skilled workers, corruption and lack of judicial independence. This page provides - Panama GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
8.90 7.70 12.20 6.20 5.57 | 2013/12 2010 - 2013 Percent Quarterly

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Panama GDP Annual Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-03-11 03:00 PM Panama
GDP Growth Rate YoY
Q4 2012 10% 10.6%
2013-09-13 08:00 PM Panama
GDP Growth Rate YoY
Q2 2013 7.6% 7.0% 6.5%
2013-12-20 05:00 PM Panama
GDP Growth Rate YoY
Q3 2013 8.9% 7.7% (R) 6.62%
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GDP Last Previous Highest Lowest Forecast Unit
GDP 36.25 2012-12-31 31.32 36.25 0.42 41.25 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 8.90 2013-09-30 7.70 12.20 6.20 5.57 2013-12-31 Percent [+]
GDP per capita 7460.42 2012-12-31 6852.81 7460.42 1830.94 8064.05 2013-12-31 USD [+]
GDP per capita PPP 14320.16 2012-12-31 13153.87 14320.16 5573.66 15505.13 2013-12-31 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Panama Inflation Rate at 3.30 Percent  
The inflation rate in Panama was recorded at 3.30 percent in March of 2014. Inflation Rate in Panama is reported by the Instituto Nacional de Estadística y Censo - Panamá.
Panama Current Account at -1001.60 PAB Million  
Panama recorded a Current Account deficit of 1001.60 PAB Million in the fourth quarter of 2013. Current Account in Panama is reported by the Instituto Nacional de Estadística y Censo - Panamá.
Panama Interest Rate at 1.00 Percent  
The benchmark interest rate in Panama was last recorded at 1 percent.
Panama Imports at 5724.60 PAB Million  
Imports in Panama decreased to 5724.60 PAB Million in the fourth quarter of 2013 from 6445.50 PAB Million in the third quarter of 2013. Imports in Panama is reported by the Instituto Nacional de Estadística y Censo - Panamá.
Panama Exports at 3733.90 PAB Million  
Exports in Panama decreased to 3733.90 PAB Million in the fourth quarter of 2013 from 4149.70 PAB Million in the third quarter of 2013. Exports in Panama is reported by the Instituto Nacional de Estadística y Censo - Panamá.
Panama Balance of Trade at -1990.70 PAB Million  
Panama recorded a trade deficit of 1990.70 PAB Million in the fourth quarter of 2013. Balance of Trade in Panama is reported by the Instituto Nacional de Estadística y Censo - Panamá.
Panama Personal Income Tax Rate at 25.00 percent  
The Personal Income Tax Rate in Panama stands at 25 percent. Personal Income Tax Rate in Panama is reported by the General Directorate of Revenues, Panama.
Panama Corporate Tax Rate at 25.00 percent  
The Corporate Tax Rate in Panama stands at 25 percent. Corporate Tax Rate in Panama is reported by the General Directorate of Revenues, Panama.
Panama Sales Tax Rate | VAT at 7.00 Percent  
The Sales Tax Rate in Panama stands at 7 percent. Sales Tax Rate in Panama is reported by the General Directorate of Revenues, Panama.
Panama Government Budget at -4.40 Percent of GDP  
Panama is expected to record a Government Budget deficit equal to 4.40 percent of the country's Gross Domestic Product in 2013. Government Budget in Panama is reported by the Ministry of Finance, Panama.
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