Panama Economic Activity August 2020


Panama: Economic activity remains downbeat in August

November 24, 2020

Economic activity plunged 29.2% year-on-year in August, slightly up from July’s minus 30.9%. The print shows that the lingering Covid-19 crisis continued to plague the economy midway through Q3 due to tough domestic restrictions and the border closure.

The trend pointed down, with the annual average variation of economic activity coming in at minus 10.8% in August, down from July’s minus 8.1% reading.

FocusEconomics Consensus Forecast panelists see the economy expanding 6.4% in 2021, which is up 0.6 percentage points from last month’s forecast. The panel expects GDP to grow 5.1% in 2022.

Author:, Junior Economist

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Panama Economic Activity Chart

Panama Economic Activity August 20 20

Note: Year-on-year changes and annual average variation of trend-cycle economic activity in %.
Source: National Comptroller’s Office.

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