Panama's final consumption expenditure (current LCU) was 53.15 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 67.72% from 31.69 billion in 2014 (5.31% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 53.15 billion | 2024 |
| Five years earlier | 43.22 billion | 2019 |
| Ten years earlier | 31.69 billion | 2014 |
| Highest | 53.15 billion | 2024 |
| Lowest | 429.94 million | 1960 |
| Average since 2015 | 42.72 billion | 2015–2024 |
| First recorded | 429.94 million |
What the numbers say
In 2024, Panama's final consumption expenditure (current LCU) rose 6.4% on 2023 (from 49.95 billion to 53.15 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +6.9% and a typical year strayed about 5.2% from that (the standard deviation). This year's change was 0.1 standard deviations below 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 23.2% in 1974 and the biggest yearly fall was 9.9% in 1988. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 1.99 billion a year. A straight line explains 96% 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.
A straight-line projection, tested first
Extending that straight line gives about 57.94 billion for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 616.97 million, against 5.83 billion for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
How it compares
In 2024, Panama had the 23rd highest value of the 37 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 2024 ranking
What this measures
Final consumption expenditure is expenditure on goods and services by resident institutional units for the direct satisfaction of human needs or wants, whether individual or collective. Final consumption expenditure can be measured for households, general government, the central bank and non-profit institutions serving households. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
All 65 values
| Year | Final consumption expenditure (current LCU) |
|---|---|
| 2024 | 53,146,569,000 |
| 2023 | 49,949,976,500 |
| 2022 | 47,086,147,300 |
| 2021 | 44,226,268,500 |
| 2020 | 41,201,568,200 |
| 2019 | 43,216,108,000 |
| 2018 | 40,549,868,200 |
| 2017 | 38,352,773,400 |
| 2016 | 36,246,231,900 |
| 2015 | 33,203,900,100 |
Final consumption expenditure (current LCU) in nearby economies
- Argentina — 719.72 trillion (2025)
- Aruba — 5 billion (2024)
- Bahamas, The — 12.22 billion (2024)
- Belize — 5.14 billion (2024)
- Bolivia — 326.75 billion (2024)
- Brazil — 10.52 trillion (2025)
- Chile — 244.11 trillion (2025)
- Colombia — 1,644.11 trillion (2025)
- Costa Rica — 40.42 trillion (2025)
- Cuba — 1.26 trillion (2024)
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)
Reading data like this
Questions people ask
- What is Panama's final consumption expenditure (current LCU)?
- 53.15 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1960?
- It is up 12,261% from 429.94 million in 1960 (7.82% a year on average, compounded). The highest value was 53.15 billion in 2024 and the lowest 429.94 million in 1960.
Source
World Bank, World Development Indicators, indicator NE.CON.TOTL.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, 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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