Panama's gross savings (current LCU) was 28.55 billion in 2024, the latest year in the World Bank's World Development Indicators. That is up 84.14% from 15.51 billion in 2014 (6.3% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 28.55 billion | 2024 |
| Five years earlier | 22.04 billion | 2019 |
| Ten years earlier | 15.51 billion | 2014 |
| Highest | 29.3 billion | 2023 |
| Lowest | 138.27 million | 1989 |
| Average since 2015 | 22.12 billion | 2015–2024 |
| First recorded | 768.93 million |
What the numbers say
In 2024, Panama's gross savings (current LCU) fell 2.6% on 2023 (from 29.3 billion to 28.55 billion).
Across the 30 yearly changes before that (1994 to 2023), the average change was +11.4% and a typical year strayed about 18.9% 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 637.3% in 1990 and the biggest yearly fall was 85.3% in 1989. 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 994.55 million a year. A straight line explains 40% 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 32nd highest value of the 48 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
- Tajikistan — 29th of 48: 60.37 billion
- Bolivia — 30th of 48: 52.26 billion
- Sierra Leone — 31st of 48: 30.2 billion
- Namibia — 33rd of 48: 23.63 billion
- Kuwait — 34th of 48: 21.78 billion
- Eswatini — 35th of 48: 16.19 billion
What this measures
Savings is an amount that represents the part of disposable income (adjusted for the change in pension entitlements) that is not spent on final consumption. Gross savings are calculated as gross national income less total consumption, plus net transfers. 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 48 values
| Year | Gross savings (current LCU) |
|---|---|
| 2024 | 28,554,724,720 |
| 2023 | 29,302,870,125 |
| 2022 | 26,350,381,736 |
| 2021 | 19,361,591,419 |
| 2020 | 14,073,013,172 |
| 2019 | 22,036,131,629 |
| 2018 | 21,240,009,730 |
| 2017 | 22,037,734,700 |
| 2016 | 19,273,418,400 |
| 2015 | 19,007,006,000 |
| 2014 |
Gross savings (current LCU) in nearby economies
- Argentina — 113.8 trillion (2025)
- Aruba — 931 million (2023)
- Bahamas, The — 3.04 billion (2024)
- Belize — 1.3 billion (2024)
- Bolivia — 52.26 billion (2024)
- Brazil — 1.84 trillion (2025)
- Chile — 77.56 trillion (2025)
- Colombia — 244.29 trillion (2025)
- Costa Rica — 7.04 trillion (2025)
- Dominican Republic — 1.84 trillion (2025)
- Ecuador — 35.43 billion (2025)
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 savings (current LCU)?
- 28.55 billion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1977?
- It is up 3,614% from 768.93 million in 1977 (7.99% a year on average, compounded). The highest value was 29.3 billion in 2023 and the lowest 138.27 million in 1989.
- How does Panama rank?
- 32nd highest of 48 economies with data for 2024.
- Is the latest change in gross savings (current LCU) unusual for Panama?
- In 2024, Panama's gross savings (current LCU) fell 2.6% on 2023 (from 29.3 billion to 28.55 billion). Across the 30 yearly changes before that (1994 to 2023), the average change was +11.4% and a typical year strayed about 18.9% 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 NY.GNS.ICTR.CN, 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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