Panama Economic Activity January 2021


Panama: Economic activity deteriorates in January

March 22, 2021

Economic activity sank 14.6% compared to the same month of the previous year in January, which was a larger contraction than December's 9.2% decrease. The downtick was likely driven by the gender-based curfew and other restrictions imposed in late-December denting services activity. However, it is worth noting that exports of copper rose in the month.

Meanwhile, the trend pointed down, with the annual average variation of economic activity coming in at minus 17.1%, down from December's minus 15.5%.

FocusEconomics Consensus Forecast panelists see the economy expanding 8.6% in 2021, which is up 0.8 percentage points from last month’s forecast. The panel expects GDP to grow 5.8% in 2022.

Author:, Junior Economist

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Panama Economic Activity Chart

Panama Economic Activity January 2021

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

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