Panama: Gross national expenditure (constant 2015 US$)

Key figures

What the numbers say

In 2024, Panama's gross national expenditure (constant 2015 US$) rose 1% on 2023 (from US$72.89 billion to US$73.59 billion).

Across the 27 yearly changes before that (1997 to 2023), the average change was +6.2% and a typical year strayed about 7.5% 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 17.7% in 1998 and the biggest yearly fall was 21.1% 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 US$1.5 billion a year. A straight line explains 44% 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 2024, Panama had the 12th 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.

Closest to Panama in the 2024 ranking

• Cuba — 8th of 31: US$83.46 billion
• Oman — 9th of 31: US$82.64 billion
• Ghana — 10th of 31: US$78.24 billion
• Bolivia — 12th of 31: US$40.57 billion
• Lebanon — 13th of 31: US$37.54 billion
• Bahrain — 14th of 31: US$37.13 billion

What this measures

Gross national expenditure is the sum of household final consumption expenditure, general government final consumption expenditure, and gross 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 is 2015. This indicator is expressed in United States dollars.

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

All 29 values

Gross national expenditure (constant 2015 US$) in nearby economies

• Argentina — US$626.49 billion (2025)
• Bahamas, The — US$14.3 billion (2024)
• Belize — US$2.65 billion (2024)
• Bolivia — US$40.57 billion (2024)
• Brazil — US$2.08 trillion (2025)
• Chile — US$310.48 billion (2025)
• Colombia — US$412.09 billion (2025)
• Costa Rica — US$75.05 billion (2025)
• Cuba — US$83.46 billion (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)

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Questions people ask

What is Panama's gross national expenditure (constant 2015 US$)?

US$73.59 billion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1996?

It is up 380.78% from US$15.31 billion in 1996 (5.77% a year on average, compounded). The highest value was US$73.59 billion in 2024 and the lowest US$15.31 billion in 1996.

How does Panama rank?

12th highest of 31 economies with data for 2024.

Is the latest change in gross national expenditure (constant 2015 US$) unusual for Panama?

In 2024, Panama's gross national expenditure (constant 2015 US$) rose 1% on 2023 (from US$72.89 billion to US$73.59 billion). Across the 27 yearly changes before that (1997 to 2023), the average change was +6.2% and a typical year strayed about 7.5% 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.DAB.TOTL.KD, 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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