Panama Economic Activity September 2021


Panama: Economic activity records lowest growth since March in September

November 22, 2021

Economic activity expanded 18.0% in year-on-year terms in September, which was a deterioration from August's 28.5% increase. September's outturn marked the worst reading since March. In detail, activity involving hotels and restaurants and financial services had a poor performance, falling in annual terms in September. However, among expanding subsectors, manufacturing industries related to food products, agriculture and cement production rose at a healthy clip.

Meanwhile, annual average economic activity growth rose to 10.8% in September (August: +7.6%). This signals an improving trend in the economy.

FocusEconomics Consensus Forecast panelists see the economy expanding 11.7% in 2022, which is up 0.7 percentage points from last month’s forecast. The panel expects GDP to grow 6.4% in 2023.

Author:, Junior Economist

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Panama Economic Activity Chart

Panama Economic Activity September 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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