Panama: Adjusted net national income (constant 2015 US$)

Key figures

What the numbers say

In 2021, Panama's adjusted net national income (constant 2015 US$) rose 8.3% on 2020 (from US$43.96 billion to US$47.63 billion).

Across the 24 yearly changes before that (1997 to 2020), the average change was +4.8% and a typical year strayed about 6% from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 14.2% in 2011 and the biggest yearly fall was 17% in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2012 to 2021 the straight-line trend is upward, about US$925 million a year. A straight line explains 36% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2021, Panama had the 67th highest value of the 135 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Panama in the 2021 ranking

• Ghana — 64th of 135: US$51.91 billion
• Belarus — 65th of 135: US$49.64 billion
• Croatia — 66th of 135: US$48.8 billion
• Lithuania — 68th of 135: US$42.25 billion
• Luxembourg — 69th of 135: US$41.9 billion
• Slovenia — 70th of 135: US$41.39 billion

What this measures

Adjusted net national income is GNI minus consumption of fixed capital and natural resources depletion. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.

Limitations: Adjusted net national income differs from the adjustments made in the calculation of adjusted net savings, by not accounting for investments in human capital or the damages from pollution. Thus, adjusted net national income remains within the boundaries of the United Nations System of National Accounts (SNA). The SNA includes non-produced natural assets (such as land, mineral resources, and forests) within the asset boundary when they are under the effective control of institutional units. The calculation of adjusted net national income, which accounts for net forest, energy, and mineral depletion, as well as consumption of fixed capital, thus remains within the SNA boundaries.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 26 values

Adjusted net national income (constant 2015 US$) in nearby economies

• Argentina — US$488.63 billion (2021)
• Bahamas, The — US$9.22 billion (2021)
• Belize — US$1.83 billion (2021)
• Bolivia — US$24.77 billion (2021)
• Brazil — US$1.36 trillion (2021)
• Chile — US$203.21 billion (2021)
• Colombia — US$277.59 billion (2021)
• Costa Rica — US$57.17 billion (2021)
• Cuba — US$79.57 billion (2019)
• Dominican Republic

More economic policy & debt data for Panama

• Total reserves, including gold (current US$) — US$6.24 billion (2025)
• Total reserves, excluding gold (current US$) — US$6.24 billion (2025)
• Gross Value Added (GVA) at basic prices (current US$) — US$88.24 billion (2025)
• Gross Value Added (GVA) at basic prices (current LCU) — 88.24 billion (2025)
• GDP (current US$) — US$90.46 billion (2025)
• GDP (current LCU) — 90.46 billion (2025)
• GDP (constant 2015 US$) — US$80.68 billion (2025)
• GDP (constant LCU) — 84.75 billion (2025)
• GDP per capita (current US$) — US$19,790 (2025)
• GDP per capita (current LCU) — 19,790 (2025)

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Questions people ask

What is Panama's adjusted net national income (constant 2015 US$)?

US$47.63 billion in 2021, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 217.59% from US$15 billion in 1996 (4.73% a year on average, compounded). The highest value was US$52.98 billion in 2019 and the lowest US$15 billion in 1996.

How does Panama rank?

67th highest of 135 economies with data for 2021.

Is the latest change in adjusted net national income (constant 2015 US$) unusual for Panama?

In 2021, Panama's adjusted net national income (constant 2015 US$) rose 8.3% on 2020 (from US$43.96 billion to US$47.63 billion). Across the 24 yearly changes before that (1997 to 2020), the average change was +4.8% and a typical year strayed about 6% from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator NY.ADJ.NNTY.KD, licensed CC BY 4.0. Original source: Staff estimates, World Bank (WB); The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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