Panama - GDP per unit of energy use (constant 2011 PPP $ per kg of oil equivalent)

The latest value for GDP per unit of energy use (constant 2011 PPP $ per kg of oil equivalent) in Panama was 25.33 as of 2014. Over the past 24 years, the value for this indicator has fluctuated between 25.57 in 2013 and 15.18 in 2001.

Definition: GDP per unit of energy use is the PPP GDP per kilogram of oil equivalent of energy use. PPP GDP is gross domestic product converted to 2011 constant international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States.

Source: IEA Statistics © OECD/IEA 2014 (http://www.iea.org/stats/index.asp), subject to https://www.iea.org/t&c/termsandconditions/

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Development Relevance: In developing economies growth in energy use is closely related to growth in the modern sectors - industry, motorized transport, and urban areas - but energy use also reflects climatic, geographic, and economic factors (such as the relative price of energy). Energy use has been growing rapidly in low- and middle-income economies, but high-income economies still use almost five times as much energy on a per capita basis. Fossil fuels are non-renewable resources because they take millions of years to form, and reserves are being depleted much faster than new ones are being made. In developing economies growth in energy use is closely related to growth in the modern sectors - industry, motorized transport, and urban areas - but energy use also reflects climatic, geographic, and economic factors (such as the relative price of energy). Energy use has been growing rapidly in low- and middle-income economies, but high-income economies still use almost five times as much energy on a per capita basis.

Limitations and Exceptions: The IEA makes these estimates in consultation with national statistical offices, oil companies, electric utilities, and national energy experts. The IEA occasionally revises its time series to reflect political changes, and energy statistics undergo continual changes in coverage or methodology as more detailed energy accounts become available. Breaks in series are therefore unavoidable.

Statistical Concept and Methodology: The ratio of gross domestic product (GDP) to energy use indicates energy efficiency. To produce comparable and consistent estimates of real GDP across economies relative to physical inputs to GDP - that is, units of energy use - GDP is converted to 2011 international dollars using purchasing power parity (PPP) rates. Differences in this ratio over time and across economies reflect structural changes in an economy, changes in sectoral energy efficiency, and differences in fuel mixes. Total energy use refers to the use of primary energy before transformation to other end-use fuels (such as electricity and refined petroleum products). It includes energy from combustible renewables and waste - solid biomass and animal products, gas and liquid from biomass, and industrial and municipal waste. Biomass is any plant matter used directly as fuel or converted into fuel, heat, or electricity. Energy data are compiled by the International Energy Agency (IEA). IEA data for economies that are not members of the Organisation for Economic Co-operation and Development (OECD) are based on national energy data adjusted to conform to annual questionnaires completed by OECD member governments. GDP data are from World Bank's national accounts files.

Aggregation method: Weighted average

Base Period: 2011

Periodicity: Annual

General Comments: Restricted use: Please contact the International Energy Agency for third-party use of these data.

Classification

Topic: Environment Indicators

Sub-Topic: Energy production & use