Panama: Share of manufacturing
* indicates monthly or quarterly data series
Panama |
Value added by the manufacturing sector as percent of GDP |
---|---|
Latest value | 4.68 |
Year | 2023 |
Measure | percent |
Data availability | 1970 - 2023 |
Average | 12.31 |
Min - Max | 4.68 - 21.29 |
Source | The World Bank |
The latest value from 2023 is 4.68 percent, a decline from 4.97 percent in 2022. In comparison, the world average is 12.87 percent, based on data from 127 countries. Historically, the average for Panama from 1970 to 2023 is 12.31 percent. The minimum value, 4.68 percent, was reached in 2023 while the maximum of 21.29 percent was recorded in 1975.
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The importance of manufacturing in the economy of Panama and other countries is measured as the value added of manufacturing as percent of GDP. Manufacturing is part of the industrial sector of the economy.
Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Note: For VAB countries, gross value added at factor cost is used as the denominator.
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Related indicators | Latest | Reference | Measure |
---|---|---|---|
Share of industry | 27.14 | 2023 | percent |
Share of manufacturing | 4.68 | 2023 | percent |
Share of services | 67.88 | 2023 | percent |
Industry value added | 22.63 | 2023 | billion U.S. dollars |
Manufacturing value added | 3.90 | 2023 | billion U.S. dollars |
Services value added | 56.60 | 2023 | billion U.S. dollars |
Savings, percent of GDP | 37.15 | 2022 | percent |
Savings, in dollars | 28.43 | 2022 | billion U.S. dollars |