In 2023, Panama's GDP is primarily driven by the services sector, accounting for 33.42% of the GDP. The wholesale, retail trade, restaurants, and hotels sector follows closely, contributing 23.9%. The construction sector forms 17.61%, while transport, storage, and communication add 12.24%. Mining, manufacturing, and utilities represent 10.24%, and agriculture, hunting, forestry, and fishing account for 2.58%.
Recent trends indicate a stable service sector, minor growth in construction, and fluctuating wholesale and retail. Mining and utilities are forecasted to grow moderately. Construction may slow due to regulatory shifts. Keeping an eye on policy impacts and infrastructure projects will be crucial for future economic forecasts.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 33.42 | 2016 | |
| 2 | 2 Wholesale, retail trade, restaurants and hotels | 23.9 | 2016 | |
| 3 | 3 Construction | 17.61 | 2016 | |
| 4 | 4 Transport, storage and communication | 12.24 | 2016 | |
| 5 | 5 Mining, Manufacturing, Utilities | 10.24 | 2016 | |
| 6 | 6 Agriculture, hunting, forestry, fishing | 2.58 | 2016 |
