Panama—Government Expense (% of GDP)
Panama's government expense (% of GDP) was 17.1% in 2021, ranking #110 out of 138 countries. This represents a -11.0% change from 2020. Over the past 8 years, the highest recorded value was 19.3% (2020) and the lowest was 12.9% (2014). Data sourced from the World Bank World Development Indicators.
Historical Data
| Year | Value | Change |
|---|---|---|
| 2021 | 17.1% | -11.0% |
| 2020 | 19.3% | +28.1% |
| 2019 | 15.0% | +10.6% |
| 2018 | 13.6% | -2.5% |
| 2017 | 13.9% | +1.8% |
| 2016 | 13.7% | -2.2% |
| 2015 | 14.0% | +8.4% |
| 2014 | 12.9% |
Top Countries — Government Expense (% of GDP)
| # | Country | Value | Year |
|---|---|---|---|
| 1 | Naoero | 103.6% | 2020 |
| 2 | Kiribati | 83.7% | 2023 |
| 3 | Ukraine | 65.6% | 2023 |
| 4 | Marshall Islands | 59.4% | 2020 |
| 5 | Palau | 59.0% | 2020 |
| 6 | Timor-Leste | 52.5% | 2022 |
| 7 | Greece | 47.3% | 2023 |
| 8 | Italy | 47.3% | 2023 |
| 9 | France | 47.3% | 2023 |
| 10 | Austria | 46.0% | 2023 |
About This Indicator
Definition
Expense is a decrease in net worth resulting from a transaction. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.
Methodology
Original contributors: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF); World Development Indicators, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD)
Unit
% of GDP