Goods and services expense in Panama
Panama: Goods and services expense was 1.43 billion current LCU in 2024. ▲ Rising
Goods and services expense in Panama, 2014–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in current LCU.
Analysis
In 2024, goods and services expense in Panama stood at 1.43 billion current LCU. That is the highest value across all 11 years on record.
That represents a change of up 23.4% on the previous year and up 46.5% over ten years.
Over the whole period, goods and services expense in Panama peaked at 1.43 billion current LCU in 2024 and was at its lowest, 899.88 million current LCU, in 2020.
That places Panama 130th out of 155 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 11 years of available data.
Goods and services expense in Panama, year by year
| Year | current LCU | Change |
|---|---|---|
| 2014 | 975.75 million current LCU | — |
| 2015 | 980.75 million current LCU | +0.5% |
| 2016 | 949.90 million current LCU | -3.1% |
| 2017 | 1.03 billion current LCU | +8.6% |
| 2018 | 915.74 million current LCU | -11.3% |
| 2019 | 1.21 billion current LCU | +31.7% |
| 2020 | 899.88 million current LCU | -25.4% |
| 2021 | 1.01 billion current LCU | +12.5% |
| 2022 | 1.21 billion current LCU | +19.6% |
| 2023 | 1.16 billion current LCU | -4.3% |
| 2024 | 1.43 billion current LCU | +23.4% |
Panama compared with similar countries
- Panama's 1.43 billion current LCU is below the median for high income countries, which is 14.51 billion current LCU, 10% of the median. (57 countries reporting)
- Panama's 1.43 billion current LCU is below the median for Latin America & Caribbean, which is 14.98 billion current LCU, 10% of the median. (24 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 1.01 billion current LCU | 915.74 million current LCU | 1.21 billion current LCU | 6 |
| 2020s | 1.14 billion current LCU | 899.88 million current LCU | 1.43 billion current LCU | 5 |
Countries ranked near Panama
More public sector data for Panama
- Democracy, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is goods and services expense in Panama?
- Goods and services expense in Panama was 1.43 billion current LCU in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest goods and services expense recorded in Panama?
- The highest recorded value was 1.43 billion current LCU in 2024.
- What is the lowest goods and services expense recorded in Panama?
- The lowest recorded value was 899.88 million current LCU in 2020.
- How does Panama rank for goods and services expense?
- Panama ranks 130th out of 155 countries with data for 2024.
- Is goods and services expense rising or falling in Panama?
- Over the last ten years it is up 46.5%. The long-run trend across the full record is rising.
- Where does this Panama data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Goods and services expense (current LCU). Statizoid updates them automatically from the source API.
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CSV · JSON — 11 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Goods and services include all government payments in exchange for goods and services used for the production of market and nonmarket goods and services. Use of goods and services for account capital formation is excluded. 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.