Services sector share of GDP in Panama 2005-2021

The share of value added by the services industry to gross domestic product in Panama decreased by four percentage points in 2021 in comparison to the previous year. In total, the share declined to 66.01 percent in 2021. This decrease was preceded by an increase in share. Over the observed period, the share has been subject to fluctuation.

Value added of a sector is the contribution of a sector to the overall GDP. The components of value added consist of compensation of employees, taxes on production and imports less subsidies, and gross operating surplus. Value added equals the difference between a sector’s gross output and the cost of its intermediate inputs.
Find more statistics on other topics about Panama with key insights such as share of value added by the manufacturing industry to the gross domestic product, value added by the agriculture, forestry, and fishing sector to the gross domestic product, value added by the agriculture, and forestry and fishing sector to the gross domestic product.

Share of value added by the services industry to gross domestic product (GDP) in Panama from 2005 to 2021

Characteristic	Share of GDP
2021	66.01%
2020	70.05%
2019	65.01%
2018	64.87%
2017	64.6%
2016	64.98%
2015	65.83%
2014	66.57%
2013	68.07%
2012	71.34%
2011	72.6%
2010	72.91%
2009	72.97%
2008	71.79%
2007	73.45%
2006	72.07%
2005	71.24%

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Release date

March 2023

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Region

Panama

Survey time period

2005 to 2021

Supplementary notes

Data represents the share of value added by wholesale and retail trade (including hotels and restaurants), transportation, governmental, financial, professional and personal services such as: education, health care, and real estate. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling.
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 source does not provide a date of release, the date given is the one of last access.
Figures have been rounded.

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