Panama's gross fixed capital formation (annual % growth) was 2.38% in 2024, the latest year in the World Bank's World Development Indicators. That is down 6.22 percentage points from 8.6% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 2.38% | 2024 |
| Five years earlier | -1.38% | 2019 |
| Ten years earlier | 8.6% | 2014 |
| Highest | 43.09% | 2007 |
| Lowest | -47.77% | 2020 |
| Average since 2015 | 4.05% | 2015–2024 |
| First recorded | 9.94% | 1997 |
What the numbers say
In 2024, Panama's gross fixed capital formation (annual % growth) fell 15.77 percentage points on 2023 (from 18.15% to 2.38%).
Across the 26 yearly changes before that (1998 to 2023), the average change was +0.32 percentage points and a typical year strayed about 22.77 percentage points from that (the standard deviation). This year's change was 0.7 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 78.93 percentage points in 2021 and the biggest yearly fall was 46.39 percentage points 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 there is no clear straight-line trend: a straight line explains 3% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Panama had the 24th highest value of the 31 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.
| Value | Year | |
|---|---|---|
| Panama | 2.38% | 2024 |
| World | 2.2% | 2024 |
| Latin America & Caribbean | 1.93% | 2025 |
| High income | 1.41% | 2024 |
Closest to Panama in the 2024 ranking
- United States — 20th of 31: 3.47%
- Bermuda — 21st of 31: 3.32%
- Angola — 22nd of 31: 2.64%
- Solomon Islands — 24th of 31: 2.11%
- Zimbabwe — 25th of 31: 1.2%
- Eswatini — 26th of 31: 0.27%
What this measures
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Regional and income-group figures are computed by the World Bank as a weighted average.
All 28 values
| Year | Gross fixed capital formation (annual % growth) |
|---|---|
| 2024 | 2.38 |
| 2023 | 18.15 |
| 2022 | 20.56 |
| 2021 | 31.16 |
| 2020 | -47.77 |
| 2019 | -1.38 |
| 2018 | 1.13 |
| 2017 | 7.93 |
| 2016 | 2.08 |
| 2015 | 6.24 |
| 2014 |
Gross fixed capital formation (annual % growth) in nearby economies
- Argentina — 16.36% (2025)
- Bahamas, The — 20.66% (2024)
- Belize — 5.88% (2024)
- Bolivia — -10.85% (2024)
- Brazil — 2.93% (2025)
- Chile — 6.97% (2025)
- Colombia — 1.34% (2025)
- Costa Rica — 3.92% (2025)
- Cuba — 3.66% (2024)
- 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)
Reading data like this
Questions people ask
- What is Panama's gross fixed capital formation (annual % growth)?
- 2.38% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1997?
- It is down 7.56 percentage points from 9.94% in 1997. The highest value was 43.09% in 2007 and the lowest -47.77% in 2020.
- How does Panama rank?
- 24th highest of 31 economies with data for 2024.
- Is the latest change in gross fixed capital formation (annual % growth) unusual for Panama?
- In 2024, Panama's gross fixed capital formation (annual % growth) fell 15.77 percentage points on 2023 (from 18.15% to 2.38%). Across the 26 yearly changes before that (1998 to 2023), the average change was +0.32 percentage points and a typical year strayed about 22.77 percentage points from that (the standard deviation). This year's change was 0.7 standard deviations below 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 NE.GDI.FTOT.KD.ZG, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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