Panama Economic Activity October 2021

Panama

Panama: Economic activity records lowest growth since March in October

December 23, 2021

Economic activity expanded 17.4% year-on-year in October (September: +18.0% yoy). The figure marked the worst reading since March. In detail, vehicle and fuel sales, cargo transportation, cement production and food-related manufacturing industry were among growing activities.

Meanwhile, the trend improved significantly, with the annual average growth of economic activity coming in at plus 13.4% in October, up from September's 10.8%.

FocusEconomics Consensus Forecast panelists see the economy expanding 12.6% in 2022, which is up 0.9 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 October 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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