Panama's households final consumption expenditure per capita (annual % growth) was 5.14% in 2024, the latest year in the World Bank's World Development Indicators. That is up 0.07 percentage points from 5.06% in 2014.
Key figures
| Value | Year | |
|---|---|---|
| Latest | 5.14% | 2024 |
| Five years earlier | 5.2% | 2019 |
| Ten years earlier | 5.06% | 2014 |
| Highest | 17.59% | 1998 |
| Lowest | -9.16% | 2020 |
| Average since 2015 | 2.09% | 2015–2024 |
| First recorded | 7.17% | 1997 |
What the numbers say
In 2024, Panama's households final consumption expenditure per capita (annual % growth) rose 1.05 percentage points on 2023 (from 4.09% to 5.14%).
Across the 26 yearly changes before that (1998 to 2023), the average change was −0.12 percentage points and a typical year strayed about 6.73 percentage points from that (the standard deviation). This year's change was 0.2 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 14.56 percentage points in 2021 and the biggest yearly fall was 17.93 percentage points in 1999. 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 8th highest value of the 30 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 | 5.14% | 2024 |
| World | 2.04% | 2024 |
| Latin America & Caribbean | 1.83% | 2025 |
| High income | 1.43% | 2024 |
Closest to Panama in the 2024 ranking
- Solomon Islands — 5th of 30: 5.65%
- Kazakhstan — 6th of 30: 5.38%
- China — 7th of 30: 5.14%
- Palau — 9th of 30: 4.54%
- Belize — 10th of 30: 3.19%
- Vanuatu — 11th of 30: 3.05%
What this measures
This field 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. The core indicator has been divided by the general population to achieve a per capita estimate.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 | Households final consumption expenditure per capita (annual % growth) |
|---|---|
| 2024 | 5.14 |
| 2023 | 4.09 |
| 2022 | 2.13 |
| 2021 | 5.4 |
| 2020 | -9.16 |
| 2019 | 5.2 |
| 2018 | 2.08 |
| 2017 | 0.8222 |
| 2016 | 4.8 |
| 2015 | 0.4025 |
| 2014 |
Households final consumption expenditure per capita (annual % growth) in nearby economies
- Argentina — 7.51% (2025)
- Bahamas, The — 2.76% (2024)
- Belize — 3.19% (2024)
- Bolivia — 0.31% (2024)
- Brazil — 0.92% (2025)
- Chile — 2.19% (2025)
- Colombia — 2.59% (2025)
- Costa Rica — 3.37% (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 households final consumption expenditure per capita (annual % growth)?
- 5.14% in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1997?
- It is down 2.04 percentage points from 7.17% in 1997. The highest value was 17.59% in 1998 and the lowest -9.16% in 2020.
- How does Panama rank?
- 8th highest of 30 economies with data for 2024.
- Is the latest change in households final consumption expenditure per capita (annual % growth) unusual for Panama?
- In 2024, Panama's households final consumption expenditure per capita (annual % growth) rose 1.05 percentage points on 2023 (from 4.09% to 5.14%). Across the 26 yearly changes before that (1998 to 2023), the average change was −0.12 percentage points and a typical year strayed about 6.73 percentage points from that (the standard deviation). This year's change was 0.2 standard deviations above 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.CON.PRVT.PC.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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