Panama Economic Activity September 2022

Panama

Panama: Economic activity growth slows in September but remains rapid

November 21, 2022

Economic activity rose 12.2% in year-on-year terms in September, which was a deterioration from August's 12.9% increase. Economic activity continued to grow at a healthy pace amid strong Panama Canal revenue, financial sector output, copper exports, and construction sector output thanks to increased private projects.

Meanwhile, annual average economic activity growth fell to 12.0% in September (August: +12.7%), pointing to a worsening trend.

FocusEconomics Consensus Forecast panelists foresee the economy expanding 4.4% in 2023, which is down 0.2 percentage points from last month’s forecast. For 2024, the economy is seen growing 4.7%.


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Panama Economic Activity September 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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