Panama: Industry, including construction, value added (current US$)

Key figures

What the numbers say

In 2025, Panama's industry, including construction, value added (current US$) rose 2.1% on 2024 (from US$22.07 billion to US$22.53 billion).

Across the 30 yearly changes before that (1995 to 2024), the average change was +9.2% and a typical year strayed about 14.1% from that (the standard deviation). This year's change was 0.5 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 32.9% in 2021 and the biggest yearly fall was 32.6% 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 2016 to 2025 the straight-line trend is upward, about US$645.26 million 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 2025, Panama had the 72nd highest value of the 158 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 2025 ranking

• Tanzania — 69th of 158: US$26.85 billion
• Côte d'Ivoire — 70th of 158: US$23.87 billion
• Slovenia — 71st of 158: US$22.57 billion
• Serbia — 73rd of 158: US$22.3 billion
• Kenya — 74th of 158: US$22.12 billion
• Cambodia — 75th of 158: US$22.12 billion

What this measures

Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

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

All 56 values

Industry, including construction, value added (current US$) in nearby economies

• Antigua and Barbuda — US$424.89 million (2025)
• Argentina — US$156.25 billion (2025)
• Aruba — US$406.05 million (2023)
• Bahamas, The — US$1.52 billion (2024)
• Barbados — US$927.46 million (2024)
• Belize — US$466.82 million (2024)
• Bolivia — US$17.16 billion (2024)
• Brazil — US$459.4 billion (2025)
• Cayman Islands — US$593.36 million (2024)

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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Questions people ask

What is Panama's industry, including construction, value added (current US$)?

US$22.53 billion in 2025, according to the World Bank (World Development Indicators).

How has it changed since 1970?

It is up 6,501% from US$341.25 million in 1970 (7.92% a year on average, compounded). The highest value was US$22.76 billion in 2023 and the lowest US$341.25 million in 1970.

How does Panama rank?

72nd highest of 158 economies with data for 2025.

Is the latest change in industry, including construction, value added (current US$) unusual for Panama?

In 2025, Panama's industry, including construction, value added (current US$) rose 2.1% on 2024 (from US$22.07 billion to US$22.53 billion). Across the 30 yearly changes before that (1995 to 2024), the average change was +9.2% and a typical year strayed about 14.1% from that (the standard deviation). This year's change was 0.5 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 NV.IND.TOTL.CD, 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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