Panama Economic Activity November 2020


Panama: Decline in economic activity continues to soften in November, albeit still accentuated

January 22, 2021

Economic activity slid 14.1% in November (October: -16.8% yoy). November's print marked the best reading since March. The uptick came amid the relaxation of Covid-19 restrictions likely supporting spending.

However, the trend still pointed down, with the annual average variation of economic activity coming in at minus 16.2% in November, down from October's minus 14.7% reading.

FocusEconomics Consensus Forecast panelists see the economy expanding 7.2% in 2021, which is up 0.8 percentage points from last month’s forecast. The panel expects GDP to grow 5.4% in 2022.

Author:, Junior Economist

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Panama Economic Activity Chart

Panama Economic Activity November 20 20

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

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