Panama: Households and NPISHs Final consumption expenditure, PPP (constant 2021 international $)

Key figures

What the numbers say

In 2024, Panama's households and NPISHs Final consumption expenditure, PPP (constant 2021 international $) rose 6.5% on 2023 (from 67.76 billion to 72.14 billion).

Across the 27 yearly changes before that (1997 to 2023), the average change was +5.3% and a typical year strayed about 4.6% from that (the standard deviation). This year's change was 0.3 standard deviations above 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 20% in 1998 and the biggest yearly fall was 7.9% 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 1.85 billion a year. A straight line explains 88% 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 75.38 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 1.32 billion, against 5.93 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 13th 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

• Bolivia — 9th of 29: 98.22 billion
• Kuwait — 10th of 29: 96.5 billion
• Oman — 11th of 29: 75.22 billion
• Lebanon — 13th of 29: 66.01 billion
• Zimbabwe — 14th of 29: 61.16 billion
• Tajikistan — 15th of 29: 36.69 billion

What this measures

This indicator provides values for final consumption expenditure expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Households and NPISHs final consumption expenditure includes expenditure on goods and services by the Household and NPISH sector for the direct satisfaction of human needs or wants, whether individual or collective. 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 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.

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

All 29 values

Households and NPISHs Final consumption expenditure, PPP (constant 2021 international $) in nearby economies

• Argentina — 783.48 billion (2025)
• Bahamas, The — 7.88 billion (2024)
• Belize — 3.19 billion (2024)
• Bolivia — 98.22 billion (2024)
• Brazil — 2.58 trillion (2025)
• Chile — 310.28 billion (2025)
• Colombia — 657.56 billion (2025)
• Costa Rica

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

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Panama's households and NPISHs Final consumption expenditure, PPP (constant 2021 international $)?

Source

World Bank, World Development Indicators, indicator NE.CON.PRVT.PP.KD, licensed CC BY 4.0. Original source: International Comparison Program (ICP), World Bank (WB), uri: https://www.worldbank.org/en/programs/icp/data, note: This information is for ICP’s PPPs utilized in WDI, publisher: International Comparison Program (ICP), date accessed: May 30, 2024, date published: May 30, 2024; The Eurostat PPP Progr… 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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