Panama's general government final consumption expenditure (constant LCU) was 10.14 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 81.42% from 5.59 billion in 2014 (6.14% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 10.14 billion | 2024 |
| Five years earlier | 7.67 billion | 2019 |
| Ten years earlier | 5.59 billion | 2014 |
| Highest | 10.14 billion | 2024 |
| Lowest | 2.52 billion | 1996 |
| Average since 2015 | 8.16 billion | 2015–2024 |
| First recorded | 2.52 billion |
What the numbers say
In 2024, Panama's general government final consumption expenditure (constant LCU) rose 4% on 2023 (from 9.75 billion to 10.14 billion).
Across the 27 yearly changes before that (1997 to 2023), the average change was +5.2% and a typical year strayed about 3.1% from that (the standard deviation). This year's change was 0.4 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 11.5% 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 2015 to 2024 the straight-line trend is upward, about 476.75 million a year. A straight line explains 99% 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 11.61 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 325.19 million, against 608.88 million 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 16th highest value of the 29 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. General government FCE includes all government current expenditures for purchases of goods and services (including compensation of employees), and most expenditures on national defense and security, but excludes government military expenditures that are part of government capital formation. 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 varies by country. This series is expressed in local currency units.
All 29 values
| Year | General government final consumption expenditure (constant LCU) |
|---|---|
| 2024 | 10,139,378,700 |
| 2023 | 9,750,992,300 |
| 2022 | 9,435,906,200 |
| 2021 | 9,166,541,100 |
| 2020 | 8,550,908,000 |
| 2019 | 7,668,886,800 |
| 2018 | 7,391,149,800 |
| 2017 | 6,943,049,200 |
| 2016 | 6,539,936,800 |
| 2015 | 5,971,137,200 |
General government final consumption expenditure (constant LCU) in nearby economies
- Argentina — 96.27 billion (2025)
- Bahamas, The — 2.13 billion (2024)
- Belize — 817.37 million (2024)
- Bolivia — 55.12 billion (2024)
- Brazil — 861.48 billion (2025)
- Chile — 35.92 trillion (2025)
- Colombia — 171.23 trillion (2025)
- Costa Rica — 7 trillion (2025)
- Cuba
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 general government final consumption expenditure (constant LCU)?
- 10.14 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1996?
Source
World Bank, World Development Indicators, indicator NE.CON.GOVT.KN, 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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