Panama Economic Activity June 2022

Panama

Panama: Economic activity growth eases in June

August 19, 2022

Economic activity rose 8.4% year on year in June, softening from May’s +26.3% increase. The slower reading was chiefly driven by lackluster results in the agriculture as well as industrial sector, including lower exports of copper. That said, the economy remained robust—with growth remaining above the fifteen-year series’ average—thanks to improvements in construction output and dynamic Panama Canal activity which stimulated transport readings.

Meanwhile, the trend pointed down, with the annual average growth of economic activity coming in at 16.7% in June, down from May's 18.5% reading.

FocusEconomics Consensus Forecast panelists foresee the economy expanding 7.1% in 2022, which is down 0.2 percentage points from last month’s forecast. For 2023, the economy is seen growing 4.9%.


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Panama Economic Activity June 2022

Note: Year-on-year changes and annual average variation of economic activity in %.
Source: Instituto Nacional de Estadística y Censo.


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