Panama Economic Activity April 2019


Panama: Economic activity remains feeble in April

June 21, 2019

The monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica) grew 2.9% year-on-year in April, down from March’s 3.0% and representing the worst print since July 2018.

According to Panama’s Comptroller’s Office (Contraloría General de la República), the increase in economic activity in April came on the back of growth in the sectors of transportation, warehousing and communications (which includes activity in the Panama Canal and national ports); water, gas and electricity supply; financial intermediation; construction; and public administration. The sectors of commerce, mining, real estate and hotels and restaurants also grew in the month, albeit at a softer pace than the above-mentioned.

On a month-on-month, seasonally-adjusted basis, growth in economic activity came in at 0.2% in April, significantly down from the 1.6% logged in March. Meanwhile, average annual growth in economic activity inched down to 3.1%, from 3.2% in March.

FocusEconomics Consensus Forecast panelists see the economy growing 4.9% in 2019, which is up 0.1 percentage points from last month’s forecast. The panel expects GDP to expand 4.8% in 2020.

Author:, Economist

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Panama Economic Activity Chart

Panama Economic Activity April 2019 0

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

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