Panama - Wage & Salaries

For Panama, annual and quarterly national accounts, with: expenditure approach (use of GDP) at current and constant prices, income approach at current prices, production approach (gross value added by industry) at current and chained prices.

Expenditure approach

Active:

• National accounts framework:
• Measurements:
  
  • At constant year-2018 prices (Mil. 2018 PAB)
  • At current prices (Mil. PAB)
  • Index relative to 2018 (Index 2018=100)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequencies:
  • Quarterly
  • Annual
• Start dates:
  • Quarterly, uniformly 2018Q1
  • Annual, uniformly 2007

Predecessor:

• At 2007 prices - 2007 to 2021 ("_07")
• At 1996 prices - 1996 to 2012 ("_96")

Global concept aliases:

• GDP, GDP$
• C, C$
• G, G$
• I, I$
• IF, IF$
• CIVT, CIVT$
• NETEX, NETEX$
• EX, EX$
• IM, IM$

Income approach

Active:

• Measurement: Millions of Panamanian balboas at current prices (Mil. PAB)
• Adjustment: Not applicable
• Native frequency: Annual
• Start date: 2007

Predecessor:

• At 1996 prices - 1996 to 2012 ("_96")

Output approach

Active:

• Industry classification: CIIU Rev. 4 (conforms to UN ISIC Rev. 4)
• Measurements:
  • Millions of Panamanian balboas at chained year-2018 prices (Mil. Ch. 2018 PAB)
  • At current prices (Mil. PAB)
• Adjustment: Not seasonally adjusted (NSA)
• Native frequency: Quarterly
• Start date: Uniformly 2018Q1

Predecessors:

• CINU-2010 (ISIC 3), at 2007 prices - 2013Q1 to 2022Q3 ("_I3")
• At 1996 prices - 1996Q1 to 2013Q3 ("_96")

The source writes:

The Bureau of Statistics and Census of the Comptroller General of the Republic hereby presents the methodologies used to calculate the main variables of the Annual National Accounts in Panama, from the main components of gross domestic product (GDP). For the base year 2007 was prepared Table Supply and Utilization (COU), which is a picture of macroeconomic consistency, which has produced and imported supply and destination for goods or services (consumed, invested or exported) in addition to the components of production, intermediate consumption and value added according to economic activity. Because of the complexity of its preparation, years that are not available a calculation of the series in economic activities are applied to the base year annual indicators associated with each activity. Here are the main methodological aspects used for measuring the value added in the various categories of economic activity that make up the GDP and of their components of income and expenses.

The COU was prepared by object produced by row and by economic activity as column, only for the base year 2007. For 2007, all activities were confronted in their levels of production, use of goods and consistency between supply, including imported, and their use as inputs or final demand. Where there were inconsistencies, was used to investigate direct sources alternative references. In calculating the series for economic activities, information is used from surveys, financial, and administrative records. For some activities data which do not have adequate coverage, applies to the base year data, an Annual indicator associated with the activity. The SNA recommends that if possible, be made regular changes of base year even five years each.

Moody's Analytics supplements

We improve the as-reported dataset:

• Back-extend (2007Q1 to 2017Q4) as needed. (These series carry a secondary source citation of "Moody's Analytics Estimated.")
• Construct NSA identities for trade balance and gross capital formation at current and constant prices (marked "Moody's Analytics Calculated").
• SA supplements for all seven concepts, at both current and constant prices; six are directly adjusted, and GCF is an additive identity (marked "Moody's Analytics Adjusted" or "Moody's Analytics Calculated," respectively). Under our method, the year-over-year growth rate of our supplements aligns with that of the NSA fundamentals.
• SA deflators (indexes). These are marked "Moody's Analytics Calculated."

Yes. Revisions to previous years are common.

Further reading

At the source:

• Metodología de las Cuentas Nacionales (Dec 2005)
• Metodología de Estimación del Producto Interno Bruto Trimestral (Nov 2005)
• Codificadores
• Clasificacion Industrial Nacional Uniforme de todas las Actividades Economicas (CIIU)
• Clasificacion Industrial Nacional Uniforme de todas las Actividades Economicas (CINU) ano: 2010 Revision 4.0

At IMF (e-GDDS):

• National accounts (GDP) (Oct 2005)

• Aug 2010 - Initial version.
• Jul 2014 - Currency reference year advanced from 1996 to 2007.
• 12 Dec 2023 - For GDP(O), reference year advanced from 2007 to 2018: Properties.
• 8 Feb 2024 - GDP(O) detail: Properties.
• 22 May 2024, Phillip Thorne - Quarterly GDP(E) re-referenced to 2018: Properties, Moody's Analytics supplements.
• 5 Nov 2024, Phillip Thorne - Global concept aliases.