Panama Economic Activity January 2022


Panama: Economic activity growth loses steam in January

March 21, 2022

Economic activity grew 11.7% compared to the same month of the previous year in January, which was below December's 17.1% increase. Construction, trade, restaurants and hotels and transportation activity were among the subsectors that registered growth in the month. Contrastingly, mining activities took a hit from lower exports of copper products.

That said, the trend improved notably, with the annual average growth of economic activity coming in at 20.8% in November, up from December's 18.7%.

FocusEconomics Consensus Forecast panelists see the economy expanding 6.4% in 2022, which is down 0.2 percentage points from last month’s forecast. The panel expects GDP to grow 5.0% in 2023.

Author:, Junior Economist

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Panama Economic Activity Chart

Panama Economic Activity January 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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